Canadian Phosphate reports positive drilling results at Wapiti Project

Canadian Phosphate Limited has reported positive initial results from its 2026 diamond drilling program at the Wapiti Phosphate Project in British Columbia. The first eight drillholes, totaling 1,051 metres, successfully intersected the targeted Phosphate Main Zone, visually confirming significant phosphatic mineralization.

These results extend the known strike length of the mineralization by more than three kilometers south of the nearest historical drillhole. The completed drilling represents approximately one-third of the planned 3,000-metre program, which is expected to conclude in September. Samples have been sent to AGAT Laboratories, with assay results anticipated during the September quarter.

Managing Director Daniel Gleeson noted that the project shows characteristics of a large-scale sedimentary phosphate opportunity. The company plans to use this data to prepare an updated Mineral Resource Estimate in the fourth quarter of 2026 and will continue metallurgical studies for fertilizer and purified phosphoric acid development.