First Phosphate Closes Final Tranche of Oversubscribed Private Placement

First Phosphate Corp. ("First Phosphate" or the "Company") is pleased to announce that, on July 10, 2026, it closed the final tranche of its non-brokered private placement financing (the "Offering"), as further described in the Company's news releases dated May 28, 2026 and June 15, 2026. In aggregate, under the two tranches of the Offering, the Company has raised gross proceeds of $17,698,290 through the issuance of 7,238,070 Flow-Through Shares for gross proceeds of $14,476,140, and through the issuance of 1,611,075 Hard Dollar Units for gross proceeds of $3,222,150. Under this tranche of the financing, the Company raised a total of $2,277,650 through the issuance of 960,500 Flow-Through Shares for gross proceeds of $1,921,000 and 178,325 Hard Dollar Units, comprised of 178,325 Common Shares and 178,325 Warrants, for gross proceeds of $356,650. Together with this Offering, and since June 2022, the Company has raised approximately $80.2 million in 11 management-led non-brokered private-placement financings and from funds received from option and warrant exercise. In connection with the current tranche of the Offering, the Company paid $12,000 in cash finder's fees, issued 8,040 compensation Common Shares at a deemed price of $2.00 per common share (each a "Compensation Share"), and issued 14,040 Compensation Warrants. In aggregate between the two tranches, the Company paid $168,880 in cash finder's fees, issued 330,960 Compensation Shares and issued 424,400 Compensation Warrants. All securities issued under the Offering are subject to a four-month and one day statutory hold period in accordance with applicable securities laws. The Company intends to use the proceeds from the Offering as disclosed in the Company's press release dated May 28, 2026.