First Phosphate Applauds Government of Canada Investment to Build Second Wharf at Port Saguenay

Core Viewpoint - First Phosphate Corp. welcomes the Canadian government's investment of $57.6 million to construct a second wharf at Port Saguenay, which will enhance the transportation of its phosphate products and support regional economic growth [1][5]. Group 1: Government Investment - The Canadian government, represented by Minister Joël Lightbound, announced a $57.6 million investment for the construction of a second wharf at Port Saguenay [1]. - This investment is expected to facilitate the commercialization of natural resources in the Saguenay-Lac-St-Jean region, particularly benefiting First Phosphate's operations [5]. Group 2: Strategic Location and Infrastructure - The second wharf will be located adjacent to First Phosphate's planned phosphoric acid plant, improving logistics for transporting phosphate concentrate, phosphoric acid, and lithium iron phosphate (LFP) products to various markets [2]. - The company has secured an industrial land option agreement with Port Saguenay, which includes direct rail and vessel access to North American and global markets, as well as access to large-scale industrial infrastructure [8][10]. Group 3: Production and Market Potential - First Phosphate has produced commercial-grade LFP 18650 battery cells using North American critical minerals, with high-purity phosphoric acid sourced from its Bégin-Lamarche property [12]. - The critical minerals and intermediary products for LFP battery cells will be transported to European and North American offtakers via the new wharf [13]. Group 4: Company Overview - First Phosphate is focused on developing a vertically integrated mine-to-market LFP battery supply chain in North America, targeting markets such as energy storage and national security [15]. - The Bégin-Lamarche Property is noted for being one of North America's rare igneous phosphate resources, yielding high-purity phosphate with minimal impurities [15].