Mr. Stephen Case reports

FOX RIVER RESOURCES PRODUCES PURIFIED PHOSPHORIC ACID FROM MARTISON PROJECT, BOOSTING CANADA'S BATTERY MATERIALS SUPPLY CHAIN

Fox River Resources Corp. has produced purified phosphoric acid, a crucial component for the lithium-iron-phosphate battery supply chain.

During this milestone, the company completed testwork that identified all necessary unit operations required to upgrade merchant-grade acid to PPA, laying the groundwork for building a dedicated PPA production facility. The proprietary technology and testing, provided by JESA Technologies LLC, confirmed the suitability of Martison concentrate for PPA production. The envisioned PPA facility is designed for integration within a phosphate fertilizer complex, which will recover byproducts rich in P2O5 through adjustments in product mix and feed compositions throughout the complex.

Fox River intends to supply its PPA to prospective LFP battery manufacturers for initial evaluation and testing.

Stephen Case, chief executive officer of Fox River, commented: "Our successful PPA production demonstrates Martison's versatility and expands the potential market opportunities for the project. It also underpins our commitment to securing a reliable, domestic phosphate fertilizer supply for Canadian farmers while supporting the growing LFP battery market. We are grateful to the Ontario Ministry of Energy and Mines for their support in advancing Martison as a new source of critical minerals."

Technical information

The scientific and technical disclosure for Fox River Resources included in this news release has been reviewed and approved by James Byrd. Mr. Byrd is a chemical engineer and a qualified person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects), and has verified the data disclosed in this news release.

About Fox River Resources Corp.

Fox River Resources holds a 100-per-cent interest in the Martison phosphate project near Hearst, Ont. Planned as a vertically integrated operation, the project harnesses a high-grade, large-scale igneous phosphate deposit capable of providing secure domestic supplies of phosphate fertilizers, as well as PPA for the LFP battery industry. The project's Anomaly A deposit underpins a positive preliminary economic assessment with an effective date of April 21, 2022.

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