Saguenay, Québec — March 2, 2026 — Leads & Copy — First Phosphate Corp. (CSE: PHOS) (OTCQX: FRSPF) (OTCQX ADR : FPHOY) (FSE: KD0) has received conditional approval for a non-repayable contribution agreement of up to CAD $16.7 million from the Government of Canada through Natural Resources Canada (“NRCan”) under the International Partnerships Program (“IPP”).
The Canadian government-funded contribution will assess the technical and engineering parameters, including processing circuits and equipment, needed to validate the capacity to produce a phosphate concentrate that meets the quality requirements of the lithium iron phosphate (“LFP”) battery market. The work will be conducted based on parameters established in First Phosphate’s contract with its Offtaker.
According to the Honorable Tim Hodgson, Minister of Energy and Natural Resources, Canada and its partners are investing capital into secure and resilient supply chains for critical minerals. Minister Hodgson says that by supporting companies like First Phosphate, Canada is helping provide the minerals the world needs and ensuring the prosperity and security Canadians deserve.
Armand MacKenzie, President of First Phosphate, stated that the financial support from the Government of Canada represents an important lever for the continuation of the company’s development work. MacKenzie says the contribution allows First Phosphate to complete detailed work to validate the requirements of LFP applications and the expectations of its offtakers and international partners.
The development work will assist in strengthening Canada’s strategic positioning in the LFP battery value chain by developing a domestic capacity to transform apatite (phosphate concentrate) into high purity phosphoric acid (“PPA”) for batteries.
The project will implement an industrializable Canadian process for producing a battery-grade phosphate concentrate, reducing dependence on foreign supply chains.
Activities will contribute to major economic benefits, including the creation of skilled jobs and the potential establishment of a Canadian phosphoric acid facility supported by local commercial phosphate concentrate production.
The financial contribution is granted for completing a study of the Company’s integrated phosphate concentrate project in Saguenay-Lac-Saint-Jean and covers eligible activities planned through 2028, in accordance with the terms of the agreement. It supports industrial collaborations and the integration of Canadian projects into international supply chains for battery materials.
Gilles Laverdière, géo., Chief Geologist of First Phosphate, who is a Qualified Person under National Instrument 43-101, has reviewed and approved the scientific and technical information regarding First Phosphate contained in the release.
Natural Resources Canada (“NRCan”) is the federal department responsible for developing policies and programs to ensure the sustainable and responsible development of Canada’s natural resources. Through its initiatives and funding programs, including the International Partnerships Program, NRCan supports projects that contribute to strengthening supply chains, industrial innovation and Canada’s competitiveness in the critical and strategic minerals sectors.
First Phosphate (CSE : PHOS) (OTCQX : FRSPF) (OTCQX ADR : FPHOY) (FSE : KD0) is a mineral exploration and development company and clean technology company dedicated to creating and relocating a vertically integrated mine-to-market supply chain for LFP battery production in North America. Target markets include energy storage, data centers, robotics, mobility and national security.
First Phosphate’s flagship Bégin-Lamarche property, located in Saguenay-Lac-Saint-Jean, Quebec, Canada, is a rare North American igneous phosphate resource producing high purity phosphate, characterized by a very low level of impurities.
Source: First Phosphate
