Mr. John Passalacqua reports

FIRST PHOSPHATE COMPLETES INFILL DRILL PROGRAM

First Phosphate Corp. has completed its infill drill program launched on Oct. 21, 2025, at its Begin-Lamarche property in Saguenay-Lac-Saint-Jean, Quebec.

The drilling campaign has confirmed extensive, continuous mineralization across the existing horizon of the initial resource estimate. The drill program has also discovered two new phosphate intersects located in the Northern zone and in the Southern zone on the eastern side of the existing mineralized zone. An additional 10,000 metres of targeted drilling was added to the initial drill program of 30,000 metres to solidify an understanding of these new intersects, as well as to test additional mineralization located at depth in various areas across the Northern and Southern zones.

The company is currently processing the full set of drill results from its original and expanded drill campaign, which totalled about 40,000 metres with the goal of upgrading the geological model for the Begin-Lamarche property in the coming weeks.

"We were able to discover, drill and create a significant geological model for the Begin-Lamarche property all within about 3.5 years," commented Gilles Laverdiere, chief geologist of First Phosphate. "Such rapid progression from initial discovery reflects the exceptional continuity of the phosphate mineralization and the efficiency of our exploration approach."

The company also announces that Gilles Laverdiere will be retiring as chief geologist following 48 years of dedicated service to the mining industry. Existing team member, Steeve Lavoie, PGeo, will assume the role of chief geologist. Mr. Lavoie has over 20 years of experience in the mineral exploration industry, having worked most recently with Agnico Eagle Mines prior to joining First Phosphate in November, 2025.

"I'd like to thank Gilles Laverdiere for his dedication to First Phosphate and the Begin-Lamarche project since its early discovery and for building our strong exploration foundation," said First Phosphate chief executive officer John Passalacqua. "Most importantly, we would like to thank Gilles for delaying his retirement until he could see through Begin-Lamarche to its resource definition and geological modelling. Gilles is a man of remarkable dedication and a true role model for the industry."

The company also announces today a grant of 300,000 incentive stock options to Mr. Lavoie in accordance with the terms of the company's omnibus equity incentive plan. Each option has an exercise price of 98 cents and expires on Dec. 29, 2028, with 25 per cent vesting every six months for two years following the date of grant. All securities issued in accordance with the option grant are subject to a hold period of four months plus one day.

Qualified persons

The scientific and technical information relating to First Phosphate contained in this press release has been reviewed and approved by Mr. Laverdiere, PGeo, chief geologist of First Phosphate, and Mr. Lavoie, PGeo, geology manager of First Phosphate, who are qualified persons within the meaning of National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

About First Phosphate Corp.

First Phosphate is a mineral exploration and development and clean technology company dedicated to building and reshoring a vertically integrated mine-to-market supply chain for the production of LFP batteries in North America. Target markets include energy storage, data centres, robotics, mobility and national security.

First Phosphate's flagship Begin-Lamarche property, located in Saguenay-Lac-Saint-Jean, Quebec, Canada, represents a rare North American igneous phosphate resource producing high-purity phosphate characterized by very low levels of impurities.

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