Company Update – Cerro Preto and Porteira

Aguia extends strike-length of Cerro Preto Phosphate Discovery by 2.5 km.

Update on recent exploration activity at fourth phosphate target in Rio Grande do Sol – Porteria

Highlights:

• Mapping and sampling along Angico bed of the sedimentary Cerro Preto discovery has indicated an additional 2.5 km of mineralised strike-length
• Strike-length of Cerro Preto increases 25% to 12.5 km – previously 10 km
• Rock samples collected at surface returned grading up to 20.8% P₂O₅ – consistent with previous sampling
• Cerro Preto continues to demonstrate striking similarities to Western Phosphate Field in US
• Recent exploration activity at Porteira – shallow auger drilling has intercepted a high-grade oxidised zone at surface with samples grading up to 18.5% P₂O₅
• Aguia on track for release of Três Estradas PEA in the coming weeks

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