Pekuakamiulnuatsh First Nation and First Phosphate Whine Collaboration Settlement, Enterprise Details

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Mashteuiatsh – Newsfile Corp. – April 9, 2024 – First Phosphate Corp. (CSE: PHOS) (OTC: FRSPF) (FSE: KD0) (“First Phosphate” or the “Company”) and Pekuakamiulnuatsh Takuhikan (the “First Nation”) notify the signing of a collaboration settlement with respect to its proposed phosphate mine and Lithium Iron Phosphate (LFP) cathode vigorous fabric plant mission in the Saguenay-Lac-Saint-Jean Space of Quebec, Canada (the “Project”).

The collaboration settlement signed this present day in Mashteuiatsh, in the presence of the Chief of the Pekuakamiulnuatsh First Nation, Gilbert Dominique, and the CEO of First Phosphate, John Passalacqua, is an necessary step in the blueprint of the Project.

The settlement objects out pointers relating to employment opportunities, commercial horizons, environmental protection all the way thru the Nitassinan (the ancestral lands of the First Nation), harmonization of exploration work with the individuals of the First Nation who bear the Nitassinan, and the supervision of future work.

Future salvage admission to to the industrial park at Mashteuiatsh for Project vogue and monetary participation in the Project by the First Nation are below consideration. The First Nation would possibly be dedicated to taking part with the Company in the establishment of rare igneous phosphate as a severe and strategic mineral at the Canadian federal levels of authorities.

“We’re ecstatic with the collaboration settlement reached this present day with First Phosphate, which lets in us to construct the root for exploration work on the Nitassinan, our ancestral lands. We have to be belief to be and consulted at the starting in a majority of these projects, by advantage of our ancestral rights and title, including our inherent fair correct to self-option. This settlement ensures that there would possibly be persevered practice-up in the midst of the conclusion of the reviews and work main for the blueprint of the Project, with fair correct declare for the continuity of ilnu-aitun (the Ilnu culture),” underlined the Chief of the Pekuakamiulnuatsh First Nation, Gilbert Dominique.

“It is a necessity for First Phosphate to work at the side of all stakeholders in the Saguenay-Lac-Saint-Jean place in the blueprint of the battery industry of the future. The Ilnu culture kinds a vital fabric of the personality of the Saguenay-Lac-Saint-Jean place of Quebec and we are proud with a function to collaborate strategically in commercial and in culture with the Pekuakamiulnuatsh First Nation and with a function to extra integrate into the coronary heart of Saguenay-Lac-Saint-Jean society. We thank the Pekuakamiulnuatsh Nation for his or her openness and friendship,” acknowledged John Passalacqua, CEO of First Phosphate.

Under the collaboration settlement, the Company has agreed to declare: (a) an preliminary 50,000 shares to the ilnu-aitun funds (dedicated to Ilnu culture) and 50,000 shares to the Nelueun funds (dedicated to ilnu language); and (b) such preference of shares equal to 2.5% of the exploration and vogue expenditures by the Company on the First Nations lands, calculated and payable every yr. The exploration and vogue expenditures are area to no longer much less than 100,000 shares per yr, payable every yr upfront, including 100,000 shares to be issued in connection with the signing of this settlement for the 2024 calendar yr. All shares issuable below the Settlement would possibly be priced in line with the policies of the CSE at the time of their issuance.

About Pekuakamiulnuatsh First Nation
Pekuakamiulnuatsh Takuhikan is the political and administrative group that represents the Pekuakamiulnuatsh Nation. The Pekuakamiulnuatsh Nation has 10,840 individuals, many of whom are dwelling in the team of Mashteuiatsh, on the bank of the Pekuakami (Lac Saint-Jean). Mashteuiatsh (which come “there where the purpose may possibly possibly additionally be chanced on”), is a historical place of assembly.

About First Phosphate Corp.
First Phosphate is a mineral vogue company entirely dedicated to extracting and purifying phosphate for the manufacturing of cathode vigorous fabric for the Lithium Iron Phosphate (“LFP”) battery industry. First Phosphate is dedicated to producing at excessive purity level, in accountable manner and with low anticipated carbon footprint. First Phosphate plans to vertically integrate from mine offer without delay into the provision chains of vital North American LFP battery producers that require battery grade LFP cathode vigorous fabric emanating from a constant and win offer offer. First Phosphate holds over 1,500 sq. km of royalty-free district-scale land claims in the Saguenay-Lac-St-Jean Space of Quebec, Canada that it’s miles actively growing. First Phosphate properties encompass rare anorthosite igneous phosphate rock that in general yields excessive purity phosphate fabric devoid of excessive concentrations of disagreeable substances.

Chef Gilbert Dominique and CEO John Passalacqua
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For added data, please contact:
M??lodie Lapointe
Pekuakamiulnuatsh Takuhikan
+1 (418) 275-5386, then 1245
[email protected]
www.Mashteuiatsh.ca

Armand Mackenzie, VP
First Phosphate Corp.
+1 (514) 618-5289
[email protected]
www.FirstPhosphate.com

Investor Family members: [email protected]
Media Family members: [email protected]
Web page: www.FirstPhosphate.com

Apply First Phosphate:
Twitter: https://twitter.com/FirstPhosphate
LinkedIn: https://www.linkedin.com/company/first-phosphate

Forward-Taking a note Files and Cautionary Statements
This recordsdata launch incorporates obvious statements and data that also would possibly be belief to be “ahead-having a note statements” and “ahead-having a note data” within the which come of appropriate securities approved pointers. In some instances, however no longer necessarily in all instances, ahead-having a note statements and ahead-having a note data may possibly possibly additionally be known through ahead-having a note terminology comparable to “plans”, “targets”, “expects” or “would no longer place a query to”, “is anticipated”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “would no longer dwell up for” or “believes”, or variations of such words and phrases or statements that obvious actions, events or results “may possibly possibly”, “may possibly possibly perhaps”, “would”, “may possibly possibly”, “will” or “would possibly be taken”, “occur” or “be carried out” and other same expressions. Moreover, statements on this recordsdata launch which would be no longer historical facts are ahead having a note statements, including, amongst other things, the Company’s deliberate exploration and manufacturing actions, the properties and composition of any extracted phosphate, the Company’s plans for vertical integration into North American offer chains the objectives and targets of the collaboration settlement between the Company and the Pekuakamiulnuatsh First Nation, including the pointers relating to employment opportunities, commercial opportunities, environmental protection of Nitassinan (the territory), harmonization of exploration work with the individuals of the First Nation who bear the territory, and the supervision of future work; the contemplated eventual salvage admission to to the industrial park of Mashteuiatsh below the collaboration settlement; the collaboration settlement in allowing the events to construct the root for future exploration work on Nitassinan; the Company will lift-out the practice-up in the midst of the conclusion of the reviews and works main for the blueprint of the Project, with the declare of the continuity of ilnu-aitun (the Ilnu culture); and the Company will extra integrate itself into the coronary heart of the Saguenay-Lac-Saint-Jean society.

These statements and other ahead-having a note data are in line with assumptions and estimates that the Company believes are appropriate and cheap in the situations, including, with out limitation, expectations of the Company’s lengthy time interval commercial outcomes given its immediate working historical past; expectations relating to earnings, expenses and operations; the Company having sufficient working capital and capability to win extra funding main for the exploration of the Company’s property interests; expectations relating to the capability mineralization, geological benefit and economic feasibility of the Company’s projects; expectations relating to drill capabilities and the capability impacts winning drill capabilities may possibly possibly perhaps comprise on the lifetime of the mine and the Company; mineral exploration and exploration program designate estimates; expectations relating to any environmental points that will have an effect on deliberate or future exploration capabilities and the capability impact of complying with current and proposed environmental approved pointers and guidelines; receipt and timing of exploration and exploitation permits and other third-social gathering approvals; authorities legislation of mineral exploration and vogue operations; expectations relating to any social or native team points that will have an effect on deliberate or future exploration and vogue capabilities; expectations surrounding global economic traits and technological developments; and key personnel continuing their employment with the Company.

There may possibly possibly additionally be no assurance that such statements will conceal to be fair correct, and steady results and future events may possibly possibly perhaps fluctuate materially from these anticipated in such statements. Crucial elements that will perhaps trigger steady results to fluctuate materially from the Company’s expectations consist of: shrimp working historical past; excessive possibility of business failure; no earnings or main revenues; shrimp resources; unfavourable money plod along with the high-tail from operations and dependence on third-social gathering financing; the uncertainty of extra funding; no dividends; risks associated to that you would possibly be ready to judge fluctuations in revenues and results; insurance and uninsured risks; litigation; reliance on management and key personnel; conflicts of curiosity; salvage admission to to supplies and supplies; risks of mineral exploration and associated approved responsibility and damages; risks pertaining to to health and security; authorities legislation and fair correct uncertainties; the corporate’s exploration and vogue properties is presumably no longer winning and are highly speculative in nature; dependence on outside events; title to about a of the Company’s mineral properties also would possibly be challenged or substandard; Aboriginal title and land claims; obtaining and renewing licenses and permits; environmental and other regulatory risks may possibly possibly adversely have an effect on the corporate; risks pertaining to to climate replace; risks associated to infrastructure; land reclamation requirements also would possibly be burdensome; most modern global monetary situations; fluctuation in commodity prices; dilution; future gross sales by current shareholders may possibly possibly perhaps trigger the Company’s share designate to fall; fluctuation and volatility in stock replace prices; and risks associated to market demands. There may possibly possibly additionally be no assurance that any opportunity would possibly be winning, commercially viable, carried out on time or on budget, or will generate any meaningful revenues, savings or earnings, because the case also would possibly be, for the Company. Moreover, the Company will incur charges in pursuing any explicit opportunity, which also would possibly be main.

These elements and assumptions will no longer be intended to portray a full listing of the elements and assumptions that will perhaps have an effect on the Company and, though they ought to be belief to be fastidiously, ought to be belief to be at the side of the probability elements described in the Company’s other documents filed with the Canadian securities authorities, including with out limitation the “Chance Components” portion of the Company’s Annual Files Map dated November 29, 2023 which is on hand on SEDAR at www.sedarplus.ca . Even supposing the Company has tried to title elements that will perhaps trigger steady actions, events or results to fluctuate materially from these disclosed in the ahead-having a note data or data, there also would possibly be other elements that trigger actions, events or results no longer to be as anticipated, estimated or intended. The Company would no longer undertake to replace any ahead-having a note data, apart from in line with appropriate securities approved pointers.