# First Phosphate Files NI 43-101 Technical Report for Updated Mineral Resource Estimate for Bégin-Lamarche Igneous Phosphate Deposit Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/first-phosphate-files-ni-43-101-technical-report-for-updated-mineral-resource-es--a775f99b-422e-4e5e-958d-4ff5c463c5ca Original source: https://www.newsfilecorp.com/release/310970/First-Phosphate-Files-NI-43101-Technical-Report-for-Updated-Mineral-Resource-Estimate-for-BginLamarche-Igneous-Phosphate-Deposit Publisher: newsfile Original announcement: 2026-08-24T12:30:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: First Phosphate Corp. - Ticker: PHOS - Exchange: Unavailable - Region: Quebec, Canada - Primary commodity: Phosphate - Secondary commodities: None reported - Document categories: Resource update, Metallurgy - Extracted: 2026-08-24 13:21:22 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary First Phosphate Corp. has filed an updated NI 43-101 technical report for the Bégin-Lamarche project, featuring a significant 378% increase in Indicated Mineral Resources. The updated estimate includes a total resource of 297.2 Mt at grades between 6.00% and 7.70% P2O5, supported by positive metallurgical test work. Reasoning: The update shows massive growth in Indicated resources and maintains high grades across a large scale, supported by a formal NI 43-101 technical report. - Positive factor: Significant Indicated resource growth \(378%\) - Positive factor: Large scale resource \(297.2 Mt total\) - Positive factor: High grade phosphate \(6.00% P2O5\) - Positive factor: Strong metallurgical recovery \(88%\) - Positive factor: NI 43-101 compliant technical report filed Facts used in scoring: 4 ## Classification and evidence **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: The report specifies a large Indicated Mineral Resource of 198.5 Mt. Evidence · text > Indicated pit-constrained Mineral Resource: 198.5 Mt @ 6.00% P 2 O 5 **Tonnage Growth** Polarity: positive Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved. Why it applies: Indicated resources increased by 378% compared to the initial MRE. Evidence · text > includes a 378% increase in Indicated Mineral Resources **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The technical report was prepared in accordance with NI 43-101 standards. Evidence · text > prepared by P&E Mining Consultants Inc. in accordance with National Instrument 43-101 **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: Mr. Antoine Yassa, P.Geo., is named as the Qualified Person responsible for the estimate. Evidence · text > The Qualified Person... is Mr. Antoine Yassa, P.Geo. ## Extracted facts Stored fact records: 4. Some facts used in scoring do not have a stored record. ## Resource Estimates (4) ### measured [Link to this fact](https://atlas-staging.minestarters.com/news/first-phosphate-files-ni-43-101-technical-report-for-updated-mineral-resource-es--a775f99b-422e-4e5e-958d-4ff5c463c5ca#fact-resource-facts-0) phosphate #### Identity - Commodity: phosphate - Ticker: PHOS #### Resource Data - Category: measured - Tonnes: 6200000 - Grade: 7.7 - Grade Unit: % P2O5 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-24T00:00:00.000Z Reasoning: Measured resource provides high-confidence baseline for the deposit. - Positive factor: High grade for measured category Evidence · text > Measured pit-constrained Mineral Resource: 6.2 Mt @ 7.70% P 2 O 5 ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/first-phosphate-files-ni-43-101-technical-report-for-updated-mineral-resource-es--a775f99b-422e-4e5e-958d-4ff5c463c5ca#fact-resource-facts-1) phosphate #### Identity - Commodity: phosphate - Ticker: PHOS #### Resource Data - Category: indicated - Tonnes: 198500000 - Grade: 6 - Grade Unit: % P2O5 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-24T00:00:00.000Z Reasoning: The 378% increase in Indicated resources is a major de-risking and scale event. - Positive factor: Massive tonnage increase - Positive factor: Strong Indicated component Evidence · text > Indicated pit-constrained Mineral Resource: 198.5 Mt @ 6.00% P 2 O 5 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/first-phosphate-files-ni-43-101-technical-report-for-updated-mineral-resource-es--a775f99b-422e-4e5e-958d-4ff5c463c5ca#fact-resource-facts-2) phosphate #### Identity - Commodity: phosphate - Ticker: PHOS #### Resource Data - Category: inferred - Tonnes: 89500000 - Grade: 6.16 - Grade Unit: % P2O5 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-24T00:00:00.000Z Reasoning: Large inferred component adds significant potential but requires further drilling. - Positive factor: Significant scale - Negative factor: Inferred category carries higher risk Evidence · text > Inferred pit-constrained Mineral Resource: 89.5 Mt @ 6.16% P 2 O 5 ### Fact 4 [Link to this fact](https://atlas-staging.minestarters.com/news/first-phosphate-files-ni-43-101-technical-report-for-updated-mineral-resource-es--a775f99b-422e-4e5e-958d-4ff5c463c5ca#fact-resource-facts-3) phosphate #### Identity - Commodity: phosphate - Ticker: PHOS #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-24T00:00:00.000Z Reasoning: 88% recovery is strong for phosphate processing. - Positive factor: Strong recovery rate - Positive factor: High concentrate grade Evidence · text > anticipated apatite concentrate grade of 40.4% P 2 O 5 at an 88% process recovery rate ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.