Saguenay, Quebec — January 6, 2026 — Leads & Copy — First Phosphate Corp. has announced an initial payment under an amendment to its existing long-term phosphate concentrate offtake agreement in the form of a letter of intent (LOI) with an existing partner (the Purchaser). The Purchaser will provide a lump-sum pre-payment of US $530,000 to First Phosphate to help advance the Bégin-Lamarche phosphate mining project to a feasibility study and an eventual production decision.
First Phosphate (CSE: PHOS) (OTCQX: FRSPF) (FSE: KD0) completed a Preliminary Economic Assessment on its Bégin-Lamarche phosphate project on December 4, 2024, which recommended additional drilling and exploration work to convert inferred mineral resources to indicated mineral resources and indicated mineral resources into measured mineral resources.
The company is currently completing a 30,000-metre drill program, expected to be done by April 2026, to finalize the geological model for its mineral resources. A decision will be made regarding proceeding with a feasibility study after the drill program is complete. If First Phosphate decides not to advance to a feasibility study or makes a negative production decision, the Lump-sum pre-payment shall be refundable to the Purchaser.
In other news, the Company has issued 240,132 shares to Pekuakamiulnuatsh First Nation for exploration and development expenditures undertaken by the Company on the First Nation’s lands in calendar 2025, under the collaboration agreement signed on April 9, 2024.
Gilles Laverdière, P.Geo., Chief Geologist of First Phosphate and a Qualified Person under National Instrument 43-101, has reviewed and approved the scientific and technical disclosure for First Phosphate included in this news release.
First Phosphate (CSE: PHOS) (OTCQX: FRSPF) (FSE: KD0) is focused on mineral exploration, development and cleantech, dedicated to building and onshoring a vertically integrated mine-to-market lithium iron phosphate (LFP) battery supply chain for North America. Target markets include energy storage, data centers, robotics, mobility and national security.
First Phosphate’s flagship Bégin-Lamarche Property in Saguenay-Lac-Saint-Jean, Quebec, Canada is a North American rare igneous phosphate resource yielding high-purity phosphate with minimal impurities.
Media & Investor Contact:
Bennett Kurtz
Chief Financial Officer
bennett@firstphosphate.com
Tel: +1 (416) 200-0657
Investor Relations: investor@firstphosphate.com
Media Relations: media@firstphosphate.com
Source: First Phosphate
