32.7 C
Vientiane
Saturday, May 17, 2025
spot_img
Home Blog Page 1103

K11 MUSEA Defies Market Trends, Doubling 7 Luxury Brands’ Footprint with Expansion to More Than 30,000 Square Feet


HONG KONG SAR – Media OutReach Newswire – 19 September 2024 – Victoria Dockside, K11 Art and Cultural District ushers in a new era of luxury. Several of the world’s most prestigious luxury brands plan to significantly expand their footprint at K11 MUSEA, underscoring their confidence in K11 Group’s pioneering “Cultural Commerce” business model which seamlessly integrates culture and retail. Over the next 4 years, brands such as Audemars Piguet, Balenciaga, Brunello Cucinelli, Loewe, Saint Laurent and Van Cleef & Arpels will give their stores a facelift, while Prada is set to unveil their inaugural store at K11 MUSEA, collectively doubling the luxury footprint of these 7 brands at K11 MUSEA.

K11 MUSEA set a new single-day footfall record in the summer of 2024. Food & beverage and retail sales were up by nearly 30% and tourists’ sales increased by 10%.
K11 MUSEA set a new single-day footfall record in the summer of 2024. Food & beverage and retail sales were up by nearly 30% and tourists’ sales increased by 10%.

Taking advantage of K11 MUSEA’s prime location, high visitor sales, and growing foot traffic, the latest stores by some of the world’s most renowned luxury brands add to the allure of this unique art and cultural destination while expanding their footprint to more than 30,000 square feet. This underscores K11 MUSEA’s enduring appeal as a destination for luxury shoppers seeking an unparalleled shopping experience with new featured duplexes and new concept stores.

“We are excited that many leading luxury brands are expanding at K11 MUSEA, especially in the context of current Hong Kong retail sector,” said Richard Cheung, Executive Vice President of K11 Group. “This is largely the result of the strong performance and very high sales productivity at their current stores at K11 MUSEA. This reinforces our commitment to the cultural commerce model which benefits both customers and brand partners at the K11 Art and Cultural District.”

Victoria Dockside is known for collaborating with esteemed luxury brands to create show-stopping events in the city. Over the past year, visitors were treated to the first ever Louis Vuitton’s Men’s Pre-Fall 2024 Show, the magical Dior Carousel of Christmas Dreams, and Gucci’s first collection under the helm of new creative director Sabato De Sarno, Gucci Ancora. Time and time again, luxury brands choose to leverage K11 Group’s unique cultural retail concept while taking advantage of the breathtaking Victoria Harbour backdrop to launch large-scale events. These brands can also choose to tap into K11 Group’s database of high-end customers known as KLUB 11 Black Card members, inviting them to exclusive trunk shows and jewelry events that are supported by K11 Group’s VIP facilities.

Throughout the year, Victoria Dockside stands out as a must-visit destination as it successfully hosts mega events that bring in international tourists and day visitors. Most recently this summer, “100% DORAEMON & FRIENDS” Tour (Hong Kong) exhibition presented by AllRightsReserved (ARR) and Fujiko Pro, led K11 MUSEA to report food and beverage and retail sales up by nearly 30% and tourists’ sales increased by 10%.
Hashtag: #K11

The issuer is solely responsible for the content of this announcement.

About K11 Group

K11 Group is a global cultural brand founded in 2008 by renowned entrepreneur Dr Adrian Cheng. The company’s unique and original business model, “Cultural Commerce”, blends culture, art, and commerce to create an ecosystem that caters to all walks of life. With its headquarters in Hong Kong, the Group has expanded its reach and influence, achieving a significant presence across Greater China. Upholding its core values of Art, People, and Nature, the Group aims to democratise art, incubate cultural talents, advocate sustainable development, and inspire the new generations. In addition to its groundbreaking multi-development project in Hong Kong, Victoria Dockside, K11 Art and Cultural District, the Group operates a wide range of businesses, including retail, workplace, hospitality, and luxury residence.

Looking ahead to the future, K11 Group is expected to attain a footprint of 38 projects with an approximate GFA of 3 million square meters in 12 cities across Greater China upon completion, and it continues setting new standards in “Cultural Commerce”.

AIA Hong Kong Proudly Partners with Coldplay for the Music Of The Spheres World Tour


HONG KONG SAR – Media OutReach Newswire – 19 September 2024 – AIA is excited to announce its partnership with Coldplay for the highly anticipated Music Of The Spheres World Tour in Hong Kong, set to take place in early April 2025 at the Kai Tak Sports Park.

Photo Credit: Anna Lee
Photo Credit: Anna Lee

Recognised as the most highly attended tour by a group of all time, Coldplay’s Music Of The Spheres World Tour has been captivating audiences globally, having sold over 10 million tickets since its kickoff in March 2022.

Coldplay’s live performances are renowned for their visual, emotional, and melodic impact and compelling energy. This World Tour has received rave reviews from fans and critics alike, with The Times recognising it as “the greatest live music show ever”.

Mr Alger Fung, Chief Executive Officer of AIA Hong Kong & Macau
Mr Alger Fung, Chief Executive Officer of AIA Hong Kong & Macau

Mr. Alger Fung, Chief Executive Officer of AIA Hong Kong & Macau, said, “AIA is dedicated to creating memorable and delightful experiences that encourage individuals to live ‘Healthier, Longer, Better Lives.’ We are honoured to be in this partnership to bring extraordinary world-class musicians like Coldplay to Hong Kong. With their performance taking place at the brand-new Kai Tak Sports Park, we believe it will create a refreshing experience for all participants, appealing to both locals and tourists, supporting the mega-event economy, and benefiting Hong Kong in multifaceted ways.

“Our sponsorship of the Music Of The Spheres World Tour in Hong Kong, which serves as a role model for sustainable events, also aligns with AIA’s Environmental, Social, and Governance (ESG) commitment, emphasising sustainability and community well-being. By promoting sustainability through inspiring events like the Music Of The Spheres World Tour in Hong Kong, we aim to enhance the overall experience for concert-goers while contributing positively to society.”

AIA Hong Kong has been playing an active role in supporting Hong Kong’s mega-event economy. Besides hosting the signature AIA Carnival, AIA Hong Kong was the main sponsor of BLACKPINK’s BORN PINK World Tour Hong Kong in 2023, creating priceless moments and delights for customers and the community.
Hashtag: #AIAHongKong

The issuer is solely responsible for the content of this announcement.

About AIA Hong Kong & Macau

AIA Group Limited established its operations in Hong Kong in 1931. To date, AIA Hong Kong and AIA Macau have nearly 17,000 financial planners1, as well as an extensive network of brokerage and bancassurance partners. We serve over 3.6 million customers2, offering them a wide selection of professional services and products ranging from individual life, group life, accident, medical and health, pension and personal lines insurance to investment-linked assurance schemes with numerous investment options. We are also dedicated to providing superb product solutions to meet the financial needs of high-net-worth customers.

1 As at 30 June 2024
2 Including AIA Hong Kong and AIA Macau’s individual life, group insurance and pension customers (as at 30 June 2024)

Namtheun 2 Wins ASEAN-OSHNET Excellence Award for Outstanding Safety Performance

Photo supplied

Namtheun 2 was recognized for its excellent health and safety performance at the 5th ASEAN Occupational Safety and Health Network (OSHNET) Awards, held on 11 September.

The award was presented at an event organized by Singapore’s Ministry of Manpower, which also featured the 11th ASEAN-OSHNET Conference, a Policy Dialogue on Enhancing Safety through Global Supply Chains, and the 25th ASEAN-OSHNET Coordinating Board Meeting.

The ASEAN-OSHNET Excellence Awards honor companies across the ASEAN region for their achievements in occupational safety and health. The awards highlight outstanding practices and contributions that support the region’s goal of fostering a skilled and competitive workforce.

The Government of Laos, through the Ministry of Labor and Social Welfare, nominated Nam Theun 2 for the award, recognizing the company’s strong safety culture and excellent performance.

Nam Theun 2’s CEO, Marc-Antoine Rupp, expressed pride in the company’s commitment to health and safety.

“It is a tremendous honor to receive this award,” he said. “This accolade reflects the development of our safety culture and reaffirms Nam Theun 2’s steadfast commitment to health and safety.”

“Our safety performance highlights our dedication to achieving Zero Harm. It also underscores the success of our targeted safety programs, which focus on critical areas and key safety indicators.”

“I extend my sincere gratitude to every employee, contractor, and member of the local community who contributed to this achievement. Their unwavering commitment to safety ensures that we all return home safely each day.” Marc-Antoine added.

ASEAN-Mekong Water Security Dialogue Kicks Off in Vientiane

Ten Heads of Delegation of ASEAN Countries and MRC. (Photo supplied by the Mekong River Commission)

On 18 September, 250 participants, including ministerial delegations and high-ranking officials from ASEAN member states, along with representatives and technical experts from dialogue and development partners, gathered in Vientiane, Laos, for the 2nd ASEAN-MRC Water Security Dialogue. Under the theme ‘Sustainable Investment for a Connected, Resilient, and Water-Secure Southeast Asia,’ the dialogue reflected the shared commitment to addressing critical water security challenges across the Mekong and ASEAN regions

Co-convened by the Mekong River Commission (MCR) and ASEAN Secretariats, this Dialogue has evolved into an important mechanism for fostering regional cooperation, enhancing resilience, and advancing sustainable development in the Mekong and ASEAN region.

“The ASEAN-MRC Water Security Dialogue has the potential to become a cornerstone—a cornerstone of our regional efforts, fostering collaboration not just among the Mekong countries, but across all ASEAN Member States,” said Saleumxay Kommasith, Deputy Prime Minister and Minister of Foreign Affairs of Laos, on behalf ASEAN Chair 2024.

Saleumxay Kommasith, Deputy Prime Minister and Minister of Foreign Affairs of Laos. (Photo supplied by the Mekong River Commission)

The Dialogue recognized the numerous pressing challenges facing ASEAN and the Mekong region, including the impacts of climate change, disaster-related events such as floods, droughts and landslides, human-induced changes, water scarcity, and food security concerns. The ongoing impacts of these challenges demand urgent action, and opportunity to chart a common vision for cooperation.

“This dialogue provides a platform for policymakers and stakeholders to exchange innovative ideas, identify possible areas for enhancing cooperation toward sustainability, and reaffirm our dedication to tackling water security challenges in the Mekong and ASEAN,” said Lao Minister of Natural Resources and Environment Bounkham Vorachit.

The need for increased investment in water infrastructure, climate adaptation, and sustainable management and conservation of natural resources was emphasized, along with the importance of enhanced cooperation among ASEAN Member States and their institutions to address these interconnected issues effectively. It was acknowledged that only through a concerted and unified regional, multilateral and transboundary effort can we ensure resilience and water security for the people and ecosystems of Southeast Asia.

Anoulak Kittikhoun, the CEO of the Mekong River Commission Secretariat, highlighted, “Investments in MRC – ASEAN institutional cooperation, disaster monitoring, forecasting and management, and joint infrastructure projects will make the Mekong and broader region more connected, resilient and water secured.”

ASEAN and the MRC were commended for their leadership roles in addressing water security and promoting regional cooperation. ASEAN has been instrumental in fostering political dialogue and connectivity, while the MRC continues to serve as a trusted “regional knowledge hub”, a mature “water diplomacy platform” and a successful model of transboundary water cooperation in the Mekong region.

ASEAN Member States are committed to deepening partnerships towards a more connected and resilient Mekong and ASEAN region. The Dialogue reinforced a forward-looking and optimistic vision where regional cooperation, mutual understanding, and shared investments and joint projects will drive progress toward water security and sustainable development for all.

China’s First Han Dynasty Digital Art Exhibition Debuts at the 2024 China International Fair for Trade in Services Fair

BEIJING, CHINA – Media OutReach Newswire – 18 September 2024 – On September 12, the first day of the 2024 China International Fair for Trade in Services, the nation’s first Han Dynasty cultural digital art exhibition, “Han Dynasty Splendor: A Thousand Years in One Painting” (hereafter referred to as the “Han Culture Exhibition”), debuted at the Metaverse Experience Center in Hall 3 of Shougang Park. The exhibition uses digital art to bring Han culture to life, offering visitors a unique experience.

The Han Culture Exhibition is hosted by the China Cultural Relics Information Consultation Center and Fudan University’s Xianghui Academy, and organized by Beijing Metaverse Culture Co., Ltd. and the Digital Art Center of Fudan University’s Cultural Relics Museum. The exhibition’s design won four international gold awards at the 2023 VEGA Digital Awards, a prestigious competition that sets new standards for excellence in digital media design, production, and distribution.

Upon entering the exhibition hall, a majestic scroll of Han Dynasty culture unfolds before visitors. The exhibition is divided into five sections: “Prologue: Entering the Dream,” “Act 1: Imperial Splendor, Everyday Life,” “Act 2: Glorious Relics, Artistic Masterpieces,” “Act 3: Ascending to Immortality, Han Dream of Heaven and Earth,” and an “Interactive Experience Zone.” Through innovative metaverse technology and multimodal interactive displays, the exhibition brings traditional Chinese culture to life, showcasing everything from clothing and cuisine to calligraphy and architecture, and from brick carvings to ancestral rituals.

At the exhibition, many visitors dressed in traditional Han clothing (Hanfu) were seen blending into the digital artwork, experiencing the Han Dynasty culture from 2,000 years ago. “Wearing Hanfu and visiting the Han exhibition feels like traveling back in time to the Han Dynasty. It’s an extraordinary experience,” said Lily Li, a social media influencer with millions of followers. “I regularly wear Hanfu in my daily life, as I believe it’s not just an expression of beauty but also a way of preserving traditional Chinese culture. I hope my efforts will inspire more people to fall in love with Hanfu and traditional culture.” The exhibition will be open to the public for an extended period.

The Metaverse Experience Center first appeared at the 2022 Trade in Services Fair and successfully upgraded in 2023, introducing eight new innovative scenarios and achieving four global firsts. This year, the center continues to offer new experiences, with a focus on “immersive experiences + the creation of super cultural IPs.” It now features five key application scenarios: innovation release, metaverse digital asset circulation, VR large spaces, immersive classrooms, and XR filming. These developments aim to drive breakthroughs in key metaverse technologies and foster innovative business models, allowing emerging technologies to be applied to all aspects of cultural product creation, production, distribution, and consumption.

In addition to the Han Culture Exhibition, the first-ever Dunhuang VR large-space interactive movie, Dunhuang: Mystery of the Desert Cave, was also launched here. This project, set in a 500-square-meter open space, uses cinematic interactive storytelling to transport viewers through a thousand years of history and into the virtual world of Dunhuang. With high-precision spatial positioning, real-time rendering, and multi-player interaction supported by high-performance graphic processing backpacks, the project combines immersive, realistic environments with grand visual artistry to create an exceptional team-based entertainment experience. Here, visitors can explore Crescent Lake, uncover the secrets of the Mogao Caves, admire breathtaking murals, and immerse themselves in the majestic landscapes of Dunhuang. They can even take on the role of a hero, standing side-by-side with characters from the story, and experience the extraordinary Dunhuang adventure firsthand.

Furthermore, the city’s first government AI-powered service platform, “Yizhi,” also made its debut at the Metaverse Pavilion. The 3.0 version of the digital human “Yiqi,” driven by large AI models, is capable of chatting and interacting with visitors. The exhibition also showcased the integration of digital assets with cultural and creative products and ticketing experiences, allowing visitors to explore the new “metaverse world” in various ways and build their own unique digital assets.

China’s rich traditional culture provides a solid foundation and fertile soil for the digitalization of the cultural industry, while the application of digital technology injects new energy into the innovative development of traditional Chinese culture. A representative from the Beijing Economic-Technological Development Area said, “The BDA is making significant efforts to promote the prosperity of cultural industries by empowering cultural creativity with technology, driving innovative development, and gradually establishing a cutting-edge cultural industry system that integrates high-tech audio-visual technology. Moving forward, the BDA will continue to position itself as a leading cultural innovation zone in the capital and a national model for cultural and technological integration, with policies that support this integration. We will continue to attract leading enterprises in the sector, gathering momentum to write a new chapter in the high-quality development of the cultural and technological industries in the BDA.”

Hashtag: #HanDynastyDigitalArt

The issuer is solely responsible for the content of this announcement.

Mira Coral Bay: Branded Property in Ras AI Khaimah (UAE) Reimagined By Mira Developments and Marjan

  • Located in the heart of Ras Al Khaimah, Mira Coral Bay marks a new chapter in the emirate’s luxury lifestyle segment
  • The project of significant investment stands out for its expansive land area, prestigious brands, and substantial Gross Floor Area.
  • Mira Coral Bay boasts one-of-a-kind architecture and facilities that are inspired by the surrounding environment and the natural form of coral.

RAS AL KHAIMAH, UAE – Media OutReach Newswire – 19 September 2024 – Marjan, the master developer of freehold properties in Ras Al Khaimah, has announced the launch of Mira Coral Bay, a new large-scale waterfront project in the Al Mairid area. Developed in partnership with Mira Developments, known for its branded property portfolio, this ambitious project is a mixed-use destination that will redefine Al Mairid’s status as an investment and tourism hub. Mira Coral Bay is a substantial investment in the waterfront residential community, underscoring Marjan’s commitment to enhancing the emirate’s real estate landscape.

Mira Coral Bay: Branded Property in Ras AI Khaimah (UAE) Reimagined By Mira Developments and Marjan

Mira Coral Bay comprises multi-use properties developed in collaboration with various reputable lifestyle brands. The partnership with Mira Developments marks a significant milestone for Marjan’s subsidiary, the RAK Dredging Company, which is developing Al Mairid into a unique destination with world-class infrastructure in line with Ras Al Khaimah’s vision of emerging as a leading tourism and investment magnet in the region.

With a masterplan by Marco Casamonti & Partners / Archea Associati, a studio with over 200 architectural works worldwide, including the Antinori Winery in Italy and the Li Ling World Ceramic Art City in China, Mira Coral Bay is poised to turn into a landmark destination in Ras Al Khaimah, attracting discerning investors, residents, and tourists from around the globe.

Each property in Mira Coral Bay, developed in collaboration with world-leading lifestyle brands, will ensure the highest standards of luxury, design, and service. Located just 10 minutes from Downtown Ras Al Khaimah, Mira Coral Bay will offer residents and visitors unparalleled access to the emirate’s vibrant city life while providing a serene waterfront retreat.

Mira Coral Bay features a 5-star branded spa hotel with 100 keys, a resort hotel featuring 250 rooms, a state-of-the-art yacht club, and two exclusive branded beach clubs. A grand jewel in the Al Mairid area, Mira Coral Bay will also have six clusters of villas comprising 165 units, two clusters of townhouses with 128 units, four clusters of apartments totalling 650 units, and 10 premium branded restaurants. The mixed-use development will include underground parking and scenic walkways with a unique architecture that incorporates the environment and outdoor facilities while keeping in mind the comfort of pedestrians. The master plan is a homage to Al Mairid’s unique landscape, featuring a serene waterfront set against towering majestic mountains.

Aligned with RAK Vision 2030, Mira Coral Bay is designed to reinvigorate the local economy and boost the emirate’s business and tourism development prospects. The ambitious project marks the beginning of a new chapter for Marjan as the one-of-a-kind infrastructure and architecture positions Al Mairid as a futuristic residential and leisure destination that will unlock job opportunities and redefine the luxury lifestyle in Ras Al Khaimah.

Hashtag: #MiraDevelopments #Marjan #RasAlKhaimah #UAE

The issuer is solely responsible for the content of this announcement.

About Mira Developments

Mira Developments is a UAE-based company and a part of the Mira Group. It engages in residential and commercial property construction projects with a strong focus on collaborations with the world’s leading lifestyle brands and fully furnished homes. Among its most notable projects are the Mira Villas designed by Bentley Home, a gated lagoon community in Meydan, Dubai, just 15 minutes from Burj Khalifa and Trussardi Residences in Al Furjan, Dubai, the world’s first residential property by the Italian fashion icon.

About Marjan

Marjan is the master-developer of freehold property in Ras Al Khaimah, responsible for path-breaking developments such as Al Marjan Island aimed at positioning Ras Al Khaimah as one of the region’s leading tourism and investment destinations. Mandated with developing waterfront, urban and mountain destinations that will add to the competitiveness of the emirate, Marjan’s strategic master-planning approach is to leverage Ras Al Khaimah’s natural assets and lay the foundations of the emirate’s future expansions.

SUNRATE signs MOU with Singapore-Thai Chamber of Commerce

Joint Effort Aims to Accelerate Growth and Expansion of Thai Companies in Singapore


SINGAPORE – Media OutReach Newswire – 19 September 2024 – SUNRATE, an intelligent global payment and treasury management platform, announced that it has signed a memorandum of understanding (MOU) with the Singapore-Thai Chamber of Commerce (STCC Thailand) to empower Thai companies seeking to scale and operate in Singapore.

As part of the partnership, members of Singapore-Thai Chamber of Commerce can now leverage SUNRATE’s technological resources and the expertise of its business development representatives to navigate the complex landscape of international business expansion. This support includes the ability to make payments via SUNRATE’s business account to more than 190 countries and regions, transact in over 130 currencies, and benefit from global collection services available in over 30 currencies. Additionally, companies can collect funds in more than 10 major international currencies as if they were local payments. Foreign companies can also open SUNRATE’s THB collection business accounts.

Li Tao, Head of Growth at SUNRATE said, “On the ground, we understand that many Thai companies face challenges in setting up or scaling their business operations across borders, particularly in Singapore. As the leading global B2B payment platform for Emerging Asia, we are perfectly positioned to empower these companies, especially regarding their business payment needs.”

Marciano Birjmohun, Vice Chairman of the Singapore-Thai Chamber of Commerce, said “The Singapore-Thai Chamber of Commerce actively supports its members and affiliates, particularly Thai companies, by providing them with greater access to professional services essential for seamless business expansion. This strategic partnerships with SUNRATE ensures that companies receive tailored guidance, resources, and expertise. This facilitates smooth entry into new markets, strengthens cross-border collaboration, and enhances the overall experience of expanding business operations within the region”

Hashtag: #SUNRATE

The issuer is solely responsible for the content of this announcement.

About SUNRATE

SUNRATE is an intelligent global payment and treasury management platform for businesses worldwide. Since its inception in 2016, SUNRATE has been recognised as a leading solution provider and has enabled companies to operate and scale both locally and globally in 190+ countries and regions with its cutting-edge proprietary platform, extensive global network, and robust APIs.

With its global business headquarters in Singapore and offices in Hong Kong, Jakarta, London, and Shanghai, SUNRATE partners with the top global financial institutions, such as Citibank, Standard Chartered, Barclays, J.P. Morgan, and is the principal member of both Mastercard and Visa.

To learn more about SUNRATE, visit

About Singapore-Thai Chamber of Commerce

Singapore-Thai Chamber of Commerce (STCC) was founded as a non-profit organisation in 1993 by a group of Bangkok-based Singaporeans.

Besides maintaining close relationships with the Singapore Embassy and Enterprise Singapore (ES), an initiative by the Singapore government to promote trade, STCC aims to promote economic and social relationships by bringing Thai, Singapore and foreign companies which are stationed in Thailand together. From a macro perspective, STCC aims to be the bridge connecting the two countries, which will lead to the betterment of both Singapore’s and Thailand’s economy.

Our current corporate members consist of over 200 companies, from an extensive and diverse range of sectors like Banking and Finance, Hospitality, Properties, Professional Services, Electronic, Manufacturing and industries. Our vast network of members increases interactions and business opportunities and investment activities and opportunities between Singapore and Thailand.

First Phosphate Reports Initial Mineral Resource Estimate on its Bégin-Lamarche Phosphate Deposit in the Saguenay-Lac-Saint-Jean Region of Québec, Canada


Saguenay, Quebec – Newsfile Corp. – September 18, 2024 – First Phosphate Corp (CSE: PHOS) (OTC: FRSPF) (FSE: KD0) (“First Phosphate” or the “Company”) is pleased to announce the results of its initial Mineral Resource Estimate (“MRE”) for its Bégin-Lamarche project, located 50 km north of the City of Saguenay, Quebec, Canada. The MRE, with an effective date of September 9, 2024, was carried out by M. Antoine Yassa, P.Geo., of P&E Mining Consultants Inc., who is an Independent Qualified Person within the meaning of Canadian Securities Administrators’ National Instrument 43-101: Standards of Disclosure for Mineral Projects (“NI 43-101”). MRE Highlights include:

  • Inferred pit-constrained Mineral Resource: 214.0 Mt @ 6.01% P2O5 (phosphate)
    Indicated pit-constrained Mineral Resource: 41.5 Mt @ 6.49% P
    2O5
  • Including Mountain Zone: Indicated Mineral Resource of 9.3 Mt @ 8.19% P2O5
          • Inferred Mineral Resource of 6.8 Mt @ 8.57% P2O5
  • Metallurgical Testwork indicates an anticipated apatite concentrate grade of 40% P2O5 at a 91% recovery.
  • The Bégin-Lamarche Deposit presents the potential for recovering two additional primary mineral products: a magnetite concentrate (iron) and an ilmenite concentrate (titanium).
  • Apatite (Phosphorus), titanium and high purity iron are all listed on the Quebec and Canadian critical minerals lists.
  • The Bégin-Lamarche Deposit contains very low levels of potentially deleterious elements.
  • The Deposit is open at depth.

“We have demonstrated that the Company benefits from a substantial strategic phosphate deposit located at only 70 km from the deep-sea port of Saguenay and Canadian Air Forces NATO Base Bagotville,” said First Phosphate CEO, John Passalacqua. “Our goal will be to bring this Mineral Resource into Preliminary Economic Assessment (“PEA”) later this year to then be able to evaluate the commencement of a Feasibility Study.”

The Bégin-Lamarche Phosphate Deposit contains a significant phosphate Mineral Resource that is associated with well-defined oxide-apatite peridotite (OAP) intrusions within the large Lac-Saint-Jean anorthosite suite (LSJAS). The LSJAS is the largest anorthosite phosphate mineralized anorthosite worldwide. The phosphate deposit is comprised of three mineralized zones within the deposit. The three zones are continuous, only separated by faults within the deposit and extend to a length of 2,500 m (Figure 1). The Mountain Zone is a single phosphate-bearing mass having a diameter of up to 200 m and a length of 250 m. Drilling at the Mountain Zone intersected massive apatite (phosphate-bearing mineral) veins of up to 2 m. The Northern zone is comprised of two phosphate layers ranging from 100 to 200 m in thickness and a length of 600 m. The Southern Zone bears four phosphate layers, one of them having up to 200 m in thickness and extending to 1,700 m.

Figure 1 – The Bégin-Lamarche Deposit Pit-Shell

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8917/223677_10eaf81724b92a56_001full.jpg

The above diagram can be viewed as a 3D deposit model by visiting https://www.firstphosphate.com/BeginLamarche3D

The Bégin-Lamarche Deposit mineralized wireframes boundaries were determined from lithology, structure, and grade boundary interpretation from visual inspection of drillhole cross-sections. Three mineralized wireframes were developed and referred to as Mountain, Northern and Southern Zones. The mineralized wireframes were constructed on 50 m spaced vertical cross-sections for the Mountain and Northern Zones and 100 m spacing for the Southern Zone, with computer screen digitizing polylines on drillhole cross-sections in GEMS™. The mineralized wireframe outlines were influenced by the selection of mineralized material above 2.5% P2O5 that demonstrated a lithological and structural zonal continuity along strike and down dip. In some cases, mineralization <2.5% P2O5 was included for the purpose of maintaining mineralized zone continuity. The minimum constrained width for mineralized wireframe interpretation was 3 m of drill core length.

The Bégin-Lamarche Mineral Resource Estimate is based on 120 drill holes totalling 29,762 m. The database contained 7,968 assays for percentage of P2O5, Fe2O3 and TiO2.The Mineral Resource Estimate is presented in Table 1.

Table1
Pit-Constrained Mineral Resource Estimate(1-4) at 2.5% P2O5 Cut-Off
Classification Zone Tonnes (Mt) P2O5 (%) P2O5 (kt)
Indicated Mountain 9.3 8.19 758
Northern 32.2 6.00 1,934
Total 41.5 6.49 2,692
Inferred Mountain 6.8 8.57 584
Northern 44.3 6.98 3,090
Southern 162.9 5.63 9,177
Total 214.0 6.01 12,851

Note: P2O5 = phosphorus pentoxide.

  1. Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability.
  2. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
  3. The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.
  4. The Mineral Resources in this press release were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions (2014) and Best Practices Guidelines (2019) prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.

The Bégin-Lamarche Mineral Resource Estimate was derived from applying a 2.5% P2O5 cut-off value to the pit-constrained block model and reporting the resulting tonnes and grades for potentially mineable areas. The following parameters were used to calculate the Cut-off value that determines the open pit potentially economic portions of the constrained mineralization (Table 2).

The P2O5 cut-off value is calculated with parameters below:

  • US$:C$ Exchange Rate:
$0.75
  • P2O5 Price (32%):
US$180/t (approximate two-year trailing average)
  • P2O5 Price (40%):
US$225/t
  • P2O5 Process Recovery:
91%
  • Processing Cost:
C$14.00/t
  • G&A:
C$3.00/t
  • Mining Cost:
C$2.75/t (mineralized material and waste)
  • Pit Slopes:
45°

Accordingly, the P2O5 cut-off of potential open pit mining is calculated to be = 2.5%.

The optimized pit-constrained Mineral Resource Estimate is moderately sensitive to the selection of reporting P2O5 cut-off values, as demonstrated in Table 2.

Table 2
Pit-Constrained Mineral Resource Estimate Sensitivity to P2O5 Cut-off
Class Cut-off Tonnage P2O5 P2O5
P2O5 % (Mt) (%) (kt)
Indicated 5.0 27.2 7.86 2,143
4.5 30.5 7.53 2,298
4.0 33.8 7.22 2,436
3.5 36.7 6.94 2,547
3.0 39.3 6.69 2,632
2.5 41.5 6.49 2,692
2.0 43.3 6.31 2,732
1.5 44.8 6.16 2,759
1.0 46.0 6.03 2,774
Inferred 5.0 135.8 7.16 9,732
4.5 157.2 6.84 10,748
4.0 178.1 6.53 11,639
3.5 194.2 6.31 12,242
3.0 206.1 6.13 12,633
2.5 214.0 6.01 12,851
2.0 218.7 5.92 12,959
1.5 222.5 5.85 13,025
1.0 225.6 5.79 13,064
Mt: million tonnes kt: thousand tonnes

Metallurgical Testwork has been successfully conducted by SGS at their Quebec City facility with additional support by SGS Lakefield Ontario. Recent test results have confirmed that an apatite concentrate can be obtained assaying 40% P2O5 and at 91% recovery. Additional metallurgical test results indicate that the Bégin-Lamarche Deposit may have the potential to produce two additional, potentially marketable concentrates – an iron oxide (magnetite) concentrate and a titanium oxide (ilmenite) concentrate. Tests are continuing on this aspect.

First Phosphate’s Bégin-Lamarche Deposit is located approximately 50 km driving-distance north of the City of Saguenay, Québec’s sixth largest city, which hosts daily flights to Montréal, a skilled industrial workforce, strong local infrastructure, and which is 30 km driving distance from the deep-sea Port of Saguenay.

The geological and drilling work was planned, carried out and supervised by Laurentia Exploration Inc. Drill core was described at Lamarche near the deposit and at Laurentia Exploration’s offices. The drill core was sawn and sampled at Laurentia Exploration’s offices in Jonquière.

Qualified Persons

The scientific and technical disclosure for First Phosphate included in this News Release have been reviewed and approved by Gilles Laverdière, P.Geo. Mr. Laverdière is Chief Geologist of the Company and a Qualified Person under National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”).

The Qualified Person independent of the issuer, responsible for estimating the Mineral Resources of the Begin-Lamarche Property, within the meaning of NI 43-101, is Mr. Antoine Yassa, P.Geo., of the firm P&E Mining Consultants Inc. Mr. Yassa has read this press release and confirms that the scientific and technical information in this press release for accuracy and compliance with NI 43-101.

An NI 43-101 compliant Technical Report will be filed on SEDAR+ within forty-five (45) days of this press release.

P&E Mining Consultants Inc., an associate group of twenty (20) geological and mine engineering professionals established in 2004, provides geological and mine engineering consulting reports, Mineral Resource and Mineral Reserve Estimates, NI 43-101 Technical Reports, Preliminary Economic Assessments, Pre-Feasibility and Feasibility Studies.

Laurentia Exploration inc. is a firm of consulting geologists based in Jonquière, Saguenay Lac-St-Jean. It has 80 employees, mainly geology professionals who are members in good standing of a professional order. The firm was founded in 2017 and carries out projects throughout Quebec and Ontario.

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.

-30-

For additional information, please contact:

Bennett Kurtz
Chief Financial Officer
bennett@firstphosphate.com
Tel: +1 (416) 200-0657

Investor Relations: investor@firstphosphate.com
Media Relations: media@firstphosphate.com
Website: www.FirstPhosphate.com

Follow First Phosphate:

Twitter: https://twitter.com/FirstPhosphate
LinkedIn: https://www.linkedin.com/company/first-phosphate/

Forward-Looking Information and Cautionary Statements

This 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 phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved” and other similar expressions. In addition, statements in this news release that are not historical facts are forward looking statements, including, among other things, the Company’s planned exploration and production activities, the properties and composition of any extracted phosphate, the Company’s plans for vertical integration into North American supply chains, the Company’s ability to prepare and the timing of the preparation of an NI 43-101 compliant technical report, to bring the Mineral Resource into Preliminary Economic Assessment later this year and to then be able to evaluate the commencement of a Feasibility Study.”

These statements and other forward-looking information are based on assumptions and estimates that the Company believes are appropriate and reasonable in the circumstances, including, without limitation, expectations of the Company’s long term business outcomes given its short operating history; expectations regarding revenue, expenses and operations; the Company having sufficient working capital and ability to secure additional funding necessary for the exploration of the Company’s property interests; expectations regarding the potential mineralization, geological merit and economic feasibility of the Company’s projects; expectations regarding drill programs and the potential impacts successful drill programs could have on the life of the mine and the Company; mineral exploration and exploration program cost estimates; expectations regarding any environmental issues that may affect planned or future exploration programs and the potential impact of complying with existing and proposed environmental laws and regulations; receipt and timing of exploration and exploitation permits and other third-party approvals; government regulation of mineral exploration and development operations; expectations regarding any social or local community issues that may affect planned or future exploration and development programs; expectations surrounding global economic trends and technological advancements; and key personnel continuing their employment with the Company, as well as the Company’s ability to prepare an NI 43-101 compliant technical report, to bring the Mineral Resource into Preliminary Economic Assessment on the timeline provided and that the results will be consistent with the results referenced herein.”

There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include: limited operating history; high risk of business failure; no profits or significant revenues; limited resources; negative cash flow from operations and dependence on third-party financing; the uncertainty of additional funding; no dividends; risks related to possible fluctuations in revenues and results; insurance and uninsured risks; litigation; reliance on management and key personnel; conflicts of interest; access to supplies and materials; dangers of mineral exploration and related liability and damages; risks relating to health and safety; government regulation and legal uncertainties; the company’s exploration and development properties may not be successful and are highly speculative in nature; dependence on outside parties; title to some of the Company’s mineral properties may be challenged or defective; Aboriginal title and land claims; obtaining and renewing licenses and permits; environmental and other regulatory risks may adversely affect the company; risks relating to climate change; risks related to infrastructure; land reclamation requirements may be burdensome; current global financial conditions; fluctuation in commodity prices; dilution; future sales by existing shareholders could cause the Company’s share price to fall; fluctuation and volatility in stock exchange prices; and risks related to market demands. There can be no assurance that any opportunity will be successful, commercially viable, completed on time or on budget, or will generate any meaningful revenues, savings or earnings, as the case may be, for the Company. In addition, the Company will incur costs in pursuing any particular opportunity, which may be significant.

These factors and assumptions are not intended to represent a complete list of the factors and assumptions that could affect the Company and, though they should be considered carefully, should be considered in conjunction with the risk factors described in the Company’s other documents filed with the Canadian and United States securities authorities, including without limitation the “Risk Factors” section of the Company’s Annual Information Form dated November 29, 2023 which is available on SEDAR at www.sedarplus.ca. Although the Company has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in the forward-looking information or information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR THE UNITED STATES

The issuer is solely responsible for the content of this announcement.

About First Phosphate Corp.