Diamond Mountain

Diamond Mountain Phosphate Project is in Utah, USA, approximately 35km northeast of Vernal and adjacent to Simplot’s 4Mtpa Vernal Phosphate Mine. The Project is situated in an established mining jurisdiction on State-owned land and is well serviced by existing infrastructure and supportive regulatory frameworks.

Canadian Phosphate has acquired a 100% interest in the Diamond Mountain Project, which hosts a substantial foreign estimate of 26.8 million tonnes of Measured and Indicated Resource and 23.1 million tonnes of Inferred Resource averaging 19.67% P₂O₅, contained within a laterally continuous phosphate seam averaging 4.4m in thickness.

The Project provides Canadian Phosphate with an advanced phosphate asset in the United States, one of the world’s largest fertilizer markets and a jurisdiction currently accelerating policy support for domestic fertilizer and critical mineral production. It also complements CP8’s existing Canadian projects and supporting its strategy to establish a vertically integrated, mine-to-market phosphate business across North America.

With the acquisition complete, the Company intends to:

• Undertake detailed technical review and validation of the Diamond Mountain’s foreign estimate
• Advance exploration and resource definition programs
• Evaluate development pathways.