Corp. Receives Mining Research and Innovation Grant from Quebec Ministry of Natural Resources
Summary
Saguenay, Quebec March 4, 2024 First Phosphate Corp. (First Phosphate or the Company) (CSE: PHOS) (OTC: FRSPF) (FSE: KD0) is pleased to have recently received a mining research and innovation grant from the Quebec Ministry of Natural Resources and Forestry (MRNF).The grant provides financial support to the Company in the way of $315,236 to continue mineralogical study on its apatite, ilmenite and magnetite concentrates. Company CEO, John Passalacqua will hold a brief live presentation on the Company at 15:00 EST.Research studies on Quebec igneous anorthosite can be found at:Details on First Phosphates pilot plant for the purification of Quebec igneous anorthosite into purified phosphoric acid (PPA) can be found at: https://firstphosphate.com/projects/ppa-productionDetails on First Phosphates assets in the Saguenay-Lac-St-Jean region of Quebec, can be found at: https://firstphosphate.com/projects/prized-assetsDetails on First Phosphates strategy for the creation of a fully integrated LFP battery supply chain in North America based on establishing an LFP battery valley in the Saguenay-Lac-St-Jean region of Quebec can be found at: https://firstphosphate.com/lfp-battery-strategyThe Company has also entered into a marketing agreement with NAI Interactive Ltd. (NAI) for a total cash consideration of $37,500+HST, paid up front, for a twelve-month period commencing March 4th, 2024. First Phosphate is committed to producing at high purity level, in responsible manner and with low anticipated carbon footprint. In addition, statements in this news release that are not historical facts are forward looking statements, including, among other things, the Companys planned exploration and production activities, the properties and composition of any extracted phosphate, the Companys plans for vertical integration into North American supply chains and its ability to can satisfy demand for LFP battery cathode active material across North America.These statements and other forward-looking information are based on assumptions and estimates that the Company believes are appropriate and reasonable in the circumstances, including, without limitation, expectations of the Companys long term business outcomes given its short operating history; expectations regarding revenue, expenses and operations; the Company having sufficient working capital and ability to secure additional funding necessary for the exploration of the Companys property interests; expectations regarding the potential mineralization, geological merit and economic feasibility of the Companys projects; expectations regarding drill programs and the potential impacts successful drill programs could have on the life of the mine and the Company; mineral exploration and exploration program cost estimates; expectations regarding any environmental issues that may affect planned or future exploration programs and the potential impact of complying with existing and proposed environmental laws and regulations; receipt and timing of exploration and exploitation permits and other third-party approvals; government regulation of mineral exploration and development operations; expectations regarding any social or local community issues that may affect planned or future exploration and development programs; expectations surrounding global economic trends and technological advancements; and key personnel continuing their employment with the Company.There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. There can be no assurance that any opportunity will be successful, commercially viable, completed on time or on budget, or will generate any meaningful revenues, savings or earnings, as the case may be, for the Company.