Lucena Phosphate Project: Initial Inferred Jorc Compliant Mineral Resource Estimate of 55Mt

Summary

• Initial JORC compliant inferred mineral resource of 55Mt grading 6.42% P₂O₅.
• The estimate is derived from 40 core holes totalling 3,061 metres.
• The mineral resource only covers a small part of the project area with room to expand into an adjacent tenement still under application.
• The Company holds an extensive land position in the region located close to existing infrastructure including roads, water, power and ports.
• Brazil imports over 50% of its phosphate needs and the project is located near phosphate consumers in a market primarily supplied by imported phosphate.

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