Drilling Update: Drilling At Atlantic Potash Project Approaching Target

Potash and phosphate exploration and development company Aguia Resources Limited is pleased to provide the following update on drilling at the Atlantic Potash Project located in the Sergipe Basin in NE Brazil.

Drilling of the first hole, PAC-11-0001, is progressing well and is currently at a depth of 1,050 metres. The hole was collared some 850 metres to the south east of historical well 1RPX0001DSE drilled by Petrobras that returned a 19 metre thick zone of carnallite (potash) mineralisation.