First Phosphate delivers 378% resource increase and celebrates Nasdaq uplisting

First Phosphate delivers 378% resource increase and celebrates Nasdaq uplisting

Mon, August 24, 2026 at 6:23 PM GMT+3

• PHOS.CN +2.98%

First Phosphate Corp. (NASDAQ: PHOS) (CSE: PHOS) (OTCQX: FRSPF) (FSE: KD0) CEO John Passalacqua joined Steve Darling from Proactive to discuss the filing of the company's updated Mineral Resource Estimate (MRE) Technical Report for the Bégin-Lamarche phosphate project in Quebec, a milestone that significantly enhances the scale and strategic importance of its flagship asset. Prepared by P&E Mining Consultants in accordance with NI 43-101 standards, the updated report confirms a dramatic 378% increase in Indicated Mineral Resources compared to the company's initial estimate released in 2024. The new resource estimate outlines a Measured Resource of 6.2 million tonnes grading 7.70% P₂O₅, an Indicated Resource of 198.5 million tonnes grading 6.00% P₂O₅, and an Inferred Resource of 89.5 million tonnes grading 6.16% P₂O₅. Importantly, the deposit remains open at depth, providing significant exploration upside and the potential for continued resource growth. Metallurgical testing has also demonstrated the ability to produce a high-purity apatite concentrate grading 40.4% P₂O₅ with an anticipated recovery rate of 88%, supporting its suitability for battery-grade phosphoric acid production used in lithium iron phosphate (LFP) batteries. Passalacqua said the updated resource reinforces the company's vision of creating a fully integrated North American phosphate supply chain capable of supporting the rapidly growing electric vehicle battery market. Located near existing road, hydroelectric and port infrastructure in Quebec, the project is strategically positioned to become a key domestic source of critical battery materials. In addition to the resource update, Passalacqua announced another major milestone for the company: the uplisting of First Phosphate's American Depositary Receipts (ADRs) to the Nasdaq Global Market under the ticker symbol PHOS. The ADR structure remains unchanged, with each ADR representing ten common shares of First Phosphate. To mark the occasion, members of the First Phosphate team participated in the Nasdaq Opening Bell ceremony, celebrating the company's entry onto one of the world's leading stock exchanges as it advances its strategy to become a vertically integrated supplier of phosphate materials for the North American battery industry. #proactiveinvestors #firstphosphatecorp #cse #phos #otcqx #nasdaq #phos #frspf #frspf #BeginLamarche #LFPBatteries #CriticalMinerals #Phosphate #BatteryMaterials #LFPBatteries #EVSupplyChain #MiningStocks #QuebecMining