First Phosphate Accelerates 30,000 Metre Drilling Program to Provide Final Geological Model for its Begin-Lamarche Igneous Phosphate Property

Rhea-AI Summary

First Phosphate (OTCQX: FRSPF) announced an accelerated 30,000‑metre drill program at its Bégin‑Lamarche igneous phosphate property in Saguenay‑Lac‑St‑Jean, Quebec, starting October 2025 to finalize the property's geological model.

The program will test the full 2.5 km mineralized zone on 50 m x 50 m spacing, begin with two rigs and ramp to four rigs by mid‑November, and is expected to complete by April 2026. The company says the program is fully funded and that the site is ~70 km from the Port of Saguenay and planned processing/CAM facilities.

Positive

• 30,000 m accelerated drill program announced
• Program covers the full 2.5 km known mineralized zone
• Drilling spaced at 50 m x 50 m for detailed geological model
• Drill program is stated as fully funded
• Site is ~70 km from Port of Saguenay for processing logistics

Negative

• Drill program not expected to complete until April 2026
• No updated resource estimate has been released from this program yet

Saguenay, Quebec--(Newsfile Corp. - October 21, 2025) -  First Phosphate Corp. (CSE: PHOS) (OTCQX: FRSPF) (FSE: KD0) ("First Phosphate" or the "Company") is pleased to announce that it will undertake a 30,000-metre accelerated drill program at its Bégin-Lamarche property in Saguenay-Lac-St-Jean, Quebec, Canada, commencing this month.

The drilling program is expected to build on the Company's initial resource estimate and to confirm the final geological model for the property. A full and comprehensive understanding of the deposit is anticipated after completion of this drill program. The Company's initial resource estimate effective September 9, 2024 is available at https://firstphosphate.com/projects/begin-lamarche/).

"The Bégin-Lamarche property is located near existing infrastructure, skilled workforce and at only ~70 km driving distance from the deep-sea Port of Saguenay and our eventual secondary and tertiary phosphate processing facilities," explained John Passalacqua, CEO, of First Phosphate "We have Bégin-Lamarche on an accelerated development path to support potential full vertical integration of the Company's future lithium iron phosphate ("LFP") cathode active material ("CAM") operations in Saguenay-Lac-St-Jean, Quebec."

The campaign will encompass the entire 2.5 km long known phosphate mineralization zone at 50 m x 50 m intervals (see Figure 1 below). The drill program will begin with two drill rigs in the coming weeks and increase up to four rigs by mid-November with expected completion by April 2026. The drill program is fully funded by the Company's recent financings, and all drill and work authorizations are in place.

The campaign will be managed by Laurentia Exploration of Jonquière, Quebec. Drilling operations will be conducted by First Nations Drilling of Mashteuiatsh, Quebec, and Forages Diafor of Rivière-Héva, Quebec.

To view an enhanced version of this graphic, please visit:
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First Phosphate's proposed secondary phosphate processing plant is to be located at the Port of Saguenay and very close to the Company's intended LFP CAM material production plant in La Baie, Quebec. The Bégin-Lamarche igneous phosphate property is located next to major paved highway and at only ~70 km driving distance from both the deep-sea Port of Saguenay and La Baie, Quebec for eventual full vertical integration of mining and advanced processing of high purity igneous phosphate into LFP CAM to support the onshoring of the North American LFP battery industry.

To view an enhanced version of this graphic, please visit:
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First Phosphate has recently produced perhaps the first ever commercial-grade LFP 18650 battery cells using North American critical minerals. Please see: https://firstphosphate.com/north-american-lfp-battery-cells.

The high-purity phosphoric acid and iron powder for these LFP 18650 battery cells was produced using rare igneous anorthosite rock extracted from the First Phosphate Bégin-Lamarche property in the Saguenay-Lac-Saint-Jean region of Quebec, Canada.

To view an enhanced version of this graphic, please visit:
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Qualified Person

The scientific and technical information contained in this press release has been reviewed and approved by Gilles Laverdière, P.Geo. Mr. Laverdière is Chief Geologist of First Phosphate and a Qualified Person as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").

About First Phosphate Corp

First Phosphate (CSE: PHOS) (OTCQB: FRSPF) (FSE: KD0) is a mineral development and cleantech company 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 defense.

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.

For additional information, please contact:

Bennett Kurtz
CFO, CAO
bennett@firstphosphate.com
Tel : +1 (416) 200-0657

Investor Relations: investor@firstphosphate.com
Media Relations: media@firstphosphate.com
Website: www.FirstPhosphate.com

Follow First Phosphate:

X: https://x.com/FirstPhosphate
LinkedIn: https://www.linkedin.com/company/first-phosphate

Forward-Looking Information and Cautionary Statement

This release includes certain statements that may be deemed "forward-looking information". Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. In particular, this press release contains forward-looking information relating to the Company's plans for vertical integration into North American supply chains, the commencement and completion of a 30,000-metre accelerated drill program at its Bégin-Lamarche property, the results of the drill program in relation to the Company's initial resource estimate and the confirmation of the final geological model for the property, the Company having a full and comprehensive understanding of the deposit after completion of the drill program, the scope and timing of the drill program, the continued availability of all drill permits and work authorizations, and the location and construction of the Company's secondary processing plant and LFP cathode active material production plant. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include development and exploration successes, continued availability of capital and financing, general economic, market or business conditions, relationships with and the performance of drilling contractors and subcontractors, exploration results, future plans and objectives of the Company, and economic, geopolitical and logistical matters relating to the processing and productions plants. These statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions; there being no significant disruptions affecting the activities of the Company or inability to access required project inputs; permitting and development of the projects being consistent with the Company's expectations; the accuracy of the current mineral resource estimates for the Company and results of metallurgical testing; certain price assumptions for P2O5 and Fe2O3; inflation and prices for Company project inputs being approximately consistent with anticipated levels; the Company's relationship with First Nations and other Indigenous parties remaining consistent with the Company's expectations; the Company's relationship with other third party partners and suppliers remaining consistent with the Company's expectations; and government relations and actions being consistent with Company expectations. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. The Company does not assume any obligation to update or revise its forward-looking statements, whether because of new information, future events or otherwise, except as required by applicable law. All forward-looking information contained in this release is qualified by these cautionary statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/271118

FAQ

What is First Phosphate (FRSPF) drilling at Bégin‑Lamarche in October 2025?

First Phosphate began an accelerated 30,000‑metre drill program at Bégin‑Lamarche starting October 2025 to finalize the geological model.

How long is the mineralized zone First Phosphate will test at Bégin‑Lamarche (FRSPF)?

The program will test the entire known 2.5 km phosphate mineralized zone on 50 m x 50 m drill spacing.

When will First Phosphate (FRSPF) complete the Bégin‑Lamarche drill program?

The company expects drilling to ramp to four rigs by mid‑November 2025 with completion targeted by April 2026.

Is the Bégin‑Lamarche drill program by First Phosphate (FRSPF) funded?

The company states the 30,000‑metre drill program is fully funded by recent financings.

How close is the Bégin‑Lamarche property to processing and port infrastructure for FRSPF?

Bégin‑Lamarche is located near major highways and is approximately 70 km driving distance from the Port of Saguenay and La Baie processing sites.

Will First Phosphate (FRSPF) release a new resource estimate after the drill program?

The company expects the drill program to confirm the final geological model; however, no updated resource estimate has been published yet.