First Phosphate and Groupe Goyette Sign MOU for Logistics Footprint at the Hebertville-Station Intermodal Facility in the Saguenay-Lac-St-Jean Region of Quebec, Canada

Press Release

Saguenay, Quebec – March 13, 2024 – First Phosphate Corp. (CSE: PHOS) (OTC: FRSPF) (FSE: KD0) (“First Phosphate” or the “Company”) is pleased to announce that it has signed a memorandum of understanding (“MOU”) with Groupe Goyette (“GG”) of Saint-Hyacinthe, Quebec for the accommodation of the Company’s logistical footprint at the Hébertville-Station intermodal facility in the Saguenay-Lac-St-Jean region of Quebec, Canada.

“This agreement is important to our future customers because it would create a rapid truck-to-rail on and off ramp between our mining and industrial facilities in Saguenay and the auto-industry heartland of North America,” says CEO John Passalacqua. “Our clients in the battery technology industry for electric vehicles (“EVs”) and energy storage will be demanding and will require reliable, just-in-time transportation assurances.”

The terms of the agreement include:

• First Phosphate and GG are to work towards determining the rail line options for the movement of the Company’s products and supplies to and from Saguenay, Quebec and the rest of North America through the Hébertville-Station, Quebec intermodal facility owned and operated by GG.

• First Phosphate and GG are to work towards determining the transportation, handling and storage facility expansion requirements for the Hébertville-Station, Quebec intermodal facility in order to accommodate the flow of the Company’s products and materials to and from Hébertville-Station, Quebec and the rest of North America.

• Specific emphasis is to be placed on rapid truck-to-rail intermodal capabilities and flow of the Company’s products and supplies from Hébertville-Station, Quebec in the Saguenay and the rest of North America and specifically to the automobile industry heartland in the Windsor-Detroit corridor of North America.

• GG is to join the First Phosphate project team and begin to determine the best overall project-based logistics necessary to integrate the Company’s product and supply flows with the Hébertville-Station, Quebec intermodal facility. Fleet electrification and reduction of carbon footprint are key considerations in project development.

• First Phosphate and GG will work together to make the economic, social and job creation benefits of their arrangement known to the Quebec, Canadian and United States governments.

Appointment of Armand MacKenzie as Vice President, Government Relations

First Phosphate is also pleased to announce that it has appointed Armand MacKenzie as Vice-President, Government Relations. Mr. MacKenzie was raised in traditional Innu territory. He has practiced law for 15 years and was chief legal advisor on land rights for the Ilnu Nation. He was 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 and has been a mining executive for the last 15 years. Prior to this appointment, Mr. MacKenzie served on the advisory board of the Company. He was also Vice-President, Government Relations for Sayona Mining Ltd (ASX: SYA).

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, in responsible manner 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 materially devoid of high concentrations of harmful elements.

About Groupe Goyette Inc.

Groupe Goyette is a Quebec-based general cargo transportation, distribution and logistics expert. Groupe Goyette owns and operates multiple sites including the intermodal facility in Hébertville-Station, Quebec which provides customers with full truck-to-rail access to and from the Saguenay region of Quebec and the rest of North America.

For additional information, please contact:

Bennett Kurtz, CFO
bennett@firstphosphate.com
Tel: +1 (416) 200-0657

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