First Phosphate Commissions Solventless, Environmentally Friendly Phosphate Concentration Pilot Plant

Saguenay, Quebec - Newsfile Corp. - June 19, 2023 - First Phosphate Corp. (CSE: PHOS) (FSE: KD0) ("First Phosphate" or the "Company") is pleased to announce that it has completed the commissioning of its pilot plant to produce phosphate concentrate to be used in the formulation of battery-grade purified phosphoric acid for use in the manufacture of lithium iron phosphate ("LFP") cathode active material for the LFP battery industry in North America.

The pilot plant uses fully solventless, environmentally friendly extraction methods. It is located at the facilities of SGS Canada Inc. ("SGS") in Quebec City, Quebec, Canada. A video of the pilot plant in operation is available at: https://www.youtube.com/watch?v=Lb9SGwdcyxw

"The commissioning of the pilot plant is a major milestone for First Phosphate in the processing of battery-grade purified phosphoric acid that will be used in the LFP homologation process with our partners," commented First Phosphate President, Peter Kent.

"SGS is committed to First Phosphate as a trusted partner. The test work to-date has proven positive and we are happy to have completed this full pilot plant program with First Phosphate." mentioned Dominique Lascelles, Director, Technical Services, at SGS.

After positive bench test results that demonstrated a recovery of 91.4% of its phosphate-bearing apatite to a concentrate containing 40.2% P₂O₅ (phosphate), the Company decided to setup the pilot plant to process a large bulk sample. A 15-tonne bulk sample was crushed to a diameter of 20 mm and sent to SGS. Based on 15 separate crushed rock specimens, the bulk sample assayed 7.6% P₂O₅ (phosphate) and 6.9% TiO₂ (titanium oxide).

The pilot plant optimises the Company's metallurgical process for the production of a super high grade phosphate concentrate approaching 41% P2O5. The pilot plant has produced over 900 kilograms of apatite concentrate which have been sent to the facilities of Prayon SA ("Prayon") in Belgium for the production of battery-grade purified phosphoric acid ("PPA"). The battery-grade PPA produced will then be sent to Company partners for homologation into their LFP cathode active material production processes. The pilot plant also produces valuable, marketable recoveries of ilmenite and magnetite.

As announced on February 23, 2023, First Phosphate and Prayon have signed a memorandum of understanding to collaborate on several fronts including the production of battery grade PPA. Prayon is Europe's largest producer of purified phosphoric acid.

Qualified Person

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

About First Phosphate Corp.
First Phosphate is a mineral development company fully dedicated to extracting and purifying phosphate for the production of cathode active material for the Lithium Iron Phosphate ("LFP") battery industry. First Phosphate is committed to producing at high purity level, at full ESG standard and with low anticipated carbon footprint. First Phosphate plans to vertically integrate from mine source directly into the supply chains of major North American LFP battery producers that require battery grade LFP cathode active material emanating from a consistent and secure supply source. First Phosphate holds over 1,500 sq. km of royalty-free district-scale land claims in the Saguenay-Lac-St-Jean Region of Quebec, Canada that it is actively developing. First Phosphate properties consist of rare anorthosite igneous phosphate rock that generally yields high purity phosphate material devoid of high concentrations of harmful elements.

About SGS Canada Inc.
SGS is the world's leading testing, inspection and certification company. SGS is recognized as the global benchmark for quality and integrity. With more than 97,000 employees, SGS operates a network of over 2,650 offices and laboratories around the world. SGS is constantly looking beyond customers' and society's expectations in order to deliver market leading services wherever they are needed. SGS believes in working together with clients to make the world a better, safer place.

additional information, please contact:
Peter Kent, President
peter@firstphosphate.com
Tel: +1 (647) 707-1943

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

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Forward-Looking Information and Cautionary Statements

Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or the negative of these terms and similar expressions. Forward-looking statements in this news release include statements relating to: the Company's commitment to producing high purity phosphate materials at full ESG standard under a low carbon footprint; the Company's plans to integrate directly into the functions of certain major North American LFP Battery producers; the Company's proposed development of its land claims in the region of Saguenay-Lac-St-Jean, Quebec; the stated benefits of the pilot plant and the continued partnership and stated goals and timelines of the pilot plant project with SGS, including the anticipated production of up to 1,200 kilograms of apatite concentrate that will be sent to Prayon and then to the Company's partners thereafter; the use of the pilot plant in the Company's LFP homologation process; and the stated benefits of the memorandum of understanding with Prayon.

Forward-looking information in this press release are based on certain assumptions and expected future events, namely: the Company's ability to producing high purity phosphate materials at full ESG standard under a low carbon footprint; the Company's ability to integrate directly into the functions of certain major North American LFP Battery producers; the Company's ability to develop its land claims in the region of Saguenay-Lac-St-Jean, Quebec; the Company's ability to capitalize on the stated benefits of the pilot plant and the Company's ability to maintain the continued partnership and carryout the stated goals under the timelines described with respect to the pilot plant project with SGS; the Company's ability to carryout and use the pilot plant in the Company's LFP homologation process; and the Company's ability to capitalize upon the stated benefits of the memorandum of understanding with Prayon.

These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the Company's inability to produce high purity phosphate materials at full ESG standard under a low carbon footprint; the Company's inability to integrate directly into the functions of certain major North American LFP Battery producers; the Company's inability to develop its land claims in the region of Saguenay-Lac-St-Jean, Quebec; the Company's inability to capitalize on the stated benefits of the pilot plant and the Company's inability to maintain the continued partnership and carryout the stated goals under the timelines described with respect to the pilot plant project with SGS; the Company's inability to carryout and use the pilot plant in the Company's LFP homologation process; and the Company's inability to capitalize upon the stated benefits of the memorandum of understanding with Prayon.

Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company's expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

The issuer is solely responsible for the content of this announcement.

About First Phosphate Corp.