Armand MacKenzie, Renowned First Nations Mining Executive, Joins the First Phosphate Advisory Board

Saguenay, July 5, 2023 - First Phosphate Corp. (CSE: PHOS) (FSE: KD0) ("First Phosphate" or the "Company") is pleased to announce the appointment of Armand MacKenzie to the advisory board of the Company.

A discussion between First Phosphate CEO, John Passalacqua and Armand Mackenzie is available at: https://youtu.be/uJRXjloQQjk.

Armand MacKenzie was raised in traditional Innu territory. He has practiced law for 15 years and was chief legal advisor on land rights for the Innu Nation. He was a special advisor/negotiator on the drafting and adoption of the UN General Assembly Declaration on the Rights of Indigenous Peoples. He has negotiated numerous impact benefit agreements. He has been a mining executive for the last 15 years.

"Mr. MacKenzie is skilled in the business of mining and he knows the territory of Quebec and the indigenous heartland in which we operate," said John Passalacqua, CEO of First Phosphate. "Armand comes from very humble roots which he has never forgotten yet he is very well skilled on the international scale. He is an enigma and a model of indigenous success in Canada."

First Phosphate holds over 1,500 sq. km of total land claims in the Saguenay-Lac-St-Jean 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.

"My mining industry experience, coupled with my extensive relationships with Indigenous communities, provides for a good backdrop for meeting the needs of First Phosphate," said Mr. MacKenzie. "I am excited to work with the entire team at First Phosphate towards realizing this generational, clean mining and energy transition opportunity."

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 with unimpeded access to the world.

First Phosphate's Bégin-Lamarche property is located approximately 75 km driving distance from the Port of Saguenay. The Company has 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.

Shares for Debt Settlement: In other news, the Company settled $60,000.00 of amounts owing to an arm's length ex-contractor through the issuance of 179,104 common shares of the Company at the deemed price of $0.335 per common share, with such shares subject to a statutory four month and one day hold period.

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.

For 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

Follow First Phosphate:

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

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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; and the Company's expected announcement of the drilling results for the Bégin-Lamarche property in the coming weeks.

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; and the Company's ability to announce the drilling results for the Bégin-Lamarche property in the coming weeks.

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; and the Company's inability to announce the drilling results for the Bégin-Lamarche property in the coming weeks.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/172330