SAGUENAY, QUÉBEC - Newsfile Corp. - June 11, 2024 - First Phosphate Corp. (CSE: PHOS) (OTC: FRSPF) (FSE: KD0) ("First Phosphate" or the "Company") is pleased to announce that it has filed and received a receipt for its final short form base shelf prospectus (the "Shelf Prospectus"). The Shelf Prospectus has been filed, in both official languages (English and French), under legislation in each of the provinces and territories of Canada. The Company is well capitalized at the moment for at least the next 12 months and beyond and has no immediate plans to raise funds. The Company recently completed a 25,929 drill program at its Bégin-Lamarche property in Saguenay-Lac-St-Jean in Quebec, Canada. The Company is in the process of completing a 43-101 mineral resource estimate followed immediately by a PEA on this property. After evaluating the results of these studies, the company will decide which of its properties to move forward immediately and decisively into a full-scale feasibility study. The Shelf Prospectus is intended to be used at that time to finance the feasibility study for its eventual integrated production from mine to lithium iron phosphate ("LFP") cathode active material if equity market conditions exists without excessive dilution to existing shareholders. If not, non-dilutive forms of financing will be pursued instead. The filing of the Shelf Prospectus is intended to provide the Company with financing flexibility. Under the Shelf Prospectus, the Company may issue and sell up to, in the aggregate, C$20,000,000.00 of common shares, warrants, subscription receipts, units, debt securities, or any combination thereof, from time to time over a 25-month period that the Shelf Prospectus remains effective. The specific terms of any future offering of securities (if any) will be set forth in a prospectus supplement, which will be filed with the applicable Canadian securities regulatory authorities in connection with any such offering. Any prospectus supplement filed will contain specific information concerning, among other matters, the securities to be issued and the use of proceeds from any such issuance. There is no certainty that any securities will be offered or sold under the Shelf Prospectus. A copy of the Shelf Prospectus and copies of any prospectus supplements that may be filed in the future, can be found under the Company's SEDAR+ profile at www.sedarplus.ca. The securities being referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the U.S. or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. 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 material devoid of high concentrations of harmful elements. For additional information, please contact: Bennett Kurtz, CFO & CAO bennett@firstphosphate.com Tel: +1 (416) 200-0657 Investor Relations: investor@firstphosphate.com Media Relations: media@firstphosphate.com Website: www.FirstPhosphate.comFollow First Phosphate: Twitter: https://twitter.com/FirstPhosphate LinkedIn: https://www.linkedin.com/company/first-phosphate -30- Forward-Looking Information and Cautionary StatementsThis news release contains certain statements and information that may be considered "forward-looking statements" and "forward looking information" within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking statements and forward-looking information can be identified by the use of forward-looking terminology such as "plans", "targets", "expects" or "does not expect", "is expected", "an opportunity exists", "is positioned", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and...