Bernard Lapointe, Founder and Former CEO of Arianne Phosphate, Joins the First Phosphate Advisory Board

Saguenay, Quebec--(Newsfile Corp. - November 2, 2022) - First Phosphate Corp. ("First Phosphate" or the "Company") is pleased to announce the appointment of Bernard Lapointe to the Advisory Board of the Company.

Bernard Lapointe founded Arianne Phosphate Inc. (TSXV: DAN) in 1997 and served as its president until 2013. Bernard holds a PhD in mineral resources from the Université du Québec à Chicoutimi (UQAC). Before Arianne Phosphate, Bernard was director of the Fonds Minier du Saguenay-Lac-St-Jean, Quebec. He currently sits on the Board of Directors of several public companies in the resource and fertilizer sectors.

"Bernard Lapointe's decades spent developing the Arianne Phosphate project gives him immeasurable experience that will be made available to First Phosphate in establishing our best practices for internal operations and for environment stewardship," said John Passalacqua, CEO of First Phosphate. "I look forward to working closely with Bernard as we roll out First Phosphate's six-phase integration strategy within the North American and global LFP battery industry."

First Phosphate holds over 1,500 sq. km of total land claims in the Saguenay Region of Quebec, Canada that it is actively developing. Its properties consist of rare anorthosite igneous rock formation that generally yields high purity phosphate concentrate devoid of high concentrations of deleterious heavy metals.

"I am excited about First Phosphate's development plan and its commitment to producing battery-grade phosphate through clean and environmentally responsible processing methods, for a consistent and ethical supply right here in Quebec," said Mr. Lapointe. "I look forward to bringing my experience in the phosphate industry to First Phosphate and to supporting the development of best practices for the business from the experience that I gained during my years with Arianne Phosphate."

First Phosphate's flagship Lac à l'Orignal property is located approximately 110 km driving-distance north of the City of Saguenay, Quebec's sixth largest city, which hosts daily flights to Montreal, a skilled industrial workforce, strong local infrastructure, and which is 30 km driving-distance from the deep sea Port of Saguenay.

First Phosphate's Bégin-Lamarche property is located approximately 90 km driving distance from the deep sea Port of Saguenay. The Company recently signed a memorandum of understanding (MOU) with the Port of Saguenay to secure deep sea access to global markets and a valuable industrial port development footprint.

First Phosphate has been awarded drilling permits for its Lac à l'Orignal and Bégin-Lamarche properties, an important step in First Phosphate's six-phase development plan for the North American LFP battery industry. First Phosphate is expected to announce the results of its 43-101 technical report for Lac à l'Orignal this fall.

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For additional information, please contact:

Investor Relations: [email protected]
Media Relations: [email protected]
Website: www.FirstPhosphate.com

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About First Phosphate Corp.

First Phosphate is a mineral exploration and development company fully dedicated to extracting and refining titanium and advanced phosphate 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 integrate directly into the research & development and supply chain functions of major North American LFP Battery producers that require battery grade phosphate material that emanates from a consistent and secure supply source. First Phosphate holds over 1,500 sq. km of total land claims in the Saguenay Region of Quebec, Canada that it is actively developing. First Phosphate properties consist of rare anorthosite igneous rock formation that generally yields high purity titanium oxide and phosphate concentrate devoid of high concentrations of deleterious heavy metals.

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 focus on integrating its phosphate material directly into the supply chain of major battery and electric vehicle producers in North America; the Company's announcement of its 43-101 technical report results for Lac à l'Orignal this fall; the Company drilling permits for its Lac à l'Orignal and Bégin-Lamarche properties, being an important step in its six-phase development plan for the North American LFP battery industry; Mr. Lapointe's experience from Arianne Phosphate being beneficial to the Company in establishing best practices for internal operations and for environment stewardship; the Company's plans to rollout its integration strategy within the North American and global LFP battery industry; Mr. Lapointe's comment about the Company's development plans to producing battery-grade phosphate through clean and environmentally responsible processing methods, for a consistent and ethical supply right here in Quebec; and Mr. Lapointe's comment on bringing his experience in the phosphate industry to the Company and to supporting the development of best practices for the Company.

Forward-looking information in this press release are based on certain assumptions and expected future events, namely: the Company will focus on integrating its phosphate material directly into the supply chain of major battery and electric vehicle producers in North America; the Company will complete its 43-101 technical report results for Lac à l'Orignal this fall; the Company's drilling permits for its Lac à l'Orignal and Bégin-Lamarche properties will be an important step in its six-phase development plan for the North American LFP battery industry; Mr. Lapointe's experience from Arianne Phosphate will be beneficial to the Company in establishing best practices for internal operations and for environment stewardship; the Company will rollout its integration strategy within the North American and global LFP battery industry; Mr. Lapointe will further the Company's development plans to producing battery-grade phosphate through clean and environmentally responsible processing methods, for a consistent and ethical supply right here in Quebec; and Mr. Lapointe's experience in the phosphate industry will further the development of best practices for the Company.

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 focus on integrating its phosphate material directly into the supply chain of major battery and electric vehicle producers in North America; the Company will not complete its 43-101 technical report results for Lac à l'Orignal this fall; the Company's drilling permits for its Lac à l'Orignal and Bégin-Lamarche properties will not be an important step in its six-phase development plan for the North American LFP battery industry; Mr. Lapointe's experience from Arianne Phosphate will not be beneficial to the Company in establishing best practices for internal operations and for environment stewardship; the Company will not rollout its integration strategy within the North American and global LFP battery industry; Mr. Lapointe will not further the Company's development plans to producing battery-grade phosphate through clean and environmentally responsible processing methods, for a consistent and ethical supply right here in Quebec; and Mr. Lapointe's experience in the phosphate industry will not further the development of best practices for the Company.

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.

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