Saguenay, Quebec - Newsfile Corp. - May 8, 2024 - First Phosphate Corp. (CSE: PHOS) (OTC: FRSPF) (FSE: KD0) ("First Phosphate" or the "Company") is pleased to announce that it has entered into a partially binding letter of intent ("LOI") with Rapid Building Systems Pty Ltd ("RBS") of Adelaide, Australia for the development of a Rapidwall Manufacturing Plant in the Saguenay-Lac-St-Jean Region of Quebec, Canada. Upon acceptance of terms for the supply of a Rapidwall Manufacturing Plant by RBS, First Phosphate will be granted a license for the exclusive sales and marketing rights for Canada to RBS's Rapidwall and Rapidseal products. The Rapidwall Manufacturing System would allow First Phosphate to upcycle the clean phosphogypsum produced from its proposed purified phosphoric acid ("PPA") plant into building material panels which could be used to support housing for rural and indigenous communities in North America. Rapidwall pilot video can be seen at: https://www.firstphosphate.com/rapidwall. Rapidwall is a prefabricated load bearing walling panel manufactured in a moulding process using glass-fibre reinforced, water-resistant gypsum plaster suitable for use in single, double or multi-storey housing and for commercial and industrial development. Rapidwall eliminates the need for bricks, timber wall frames and plasterboard as it serves as both the internal and external load bearing wall, and in turn, reduces the use of more greenhouse gas intensive construction materials relative to traditional building practices. For more details regarding Rapidwall product specifications, including construction details, sound transmission, fire resistance and thermal insulation properties and specifications, please see the rapidwall website at www.rapidwall.com.au/resources-downloads. The Rapidseal Manufacturing System would also allow First Phosphate to upcycle phosphogypsum from its proposed operations into a fire resistant spray plaster (gypsum) for solutions developed against spontaneous combustion and fire-prevention in mining, bio-organic landfill and forestry operations. This segment is especially of interest in northern Quebec and other northern Canadian and American rural areas and indigenous communities given the traditional forest fire dangers in these remote communities. Rapidseal pilot video can be seen at: https://www.firstphosphate.com/rapidseal. "We are pleased to have tested First Phosphate phosphogypsum and can confirm that it will be able to produce excellent quality Rapidwall building material," says RBS General Manager, Ben Lucas. "This is some of the highest quality phosphogypsum feedstock that we have ever tested, material which does not require the additional purification or neutralization that do most other gypsums from around the world. First Phosphate gypsum can be directly calcined to produce Rapidwall or Rapidseal material to provide additional revenue streams for the Company with minimal processing steps. "Rapidwall and Rapidseal will help to valorise our clean phosphogypsum into products which are vital to rural and indigenous communities across North America," says First Phosphate CEO, John Passalacqua. "This is an exceptional development in our commitment to a circular economy and to upcycling of our waste streams. First Phosphate and the LFP battery segment in North America will contribute to decarbonisation and to a cleaner economy in all ways possible." Upon completion of its mine, First Phosphate expects to have access to clean igneous anorthosite phosphate-bearing rock in Quebec, Canada that it intends to purify into battery-grade purified phosphoric acid ("PPA") for making iron phosphate precursor to support the development of the lithium iron phosphate ("LFP") battery ecosystem in North America. The phosphogypsum bi-product produced from the purification of igneous phosphate rock into PPA is expected to produce low-contaminant gypsum bi-product which can be upcycled into Rapidwall or Rapidseal. These high-quality gypsum bi-products have been used broadly in Australia, Africa, Europe, Asia and South America for decades. Now North America will have access to the same approach to a circular economy (a model of production and consumption, which involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products as long as possible, thereby injecting further revenue into the local economy). It is projected that a 150,000 tonne PPA plant could produce roughly 700,000 tonnes of clean recyclable gypsum which, using Rapidwall technology, could be used to build approximately 25,000 stand-alone three bedroom homes every year or 50,000 two bedroom apartment units for rapid deployment into rural and indigenous communities across North America. The Company's access to clean phosphogypsum on a commercial scale is dependent on, among other things, the completion and operation of a mine on one of its properties in the Saguenay-Lac-Saint-Jean region of...