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.

The Atlantic Potash project is located approximately adjacent to Brazil’s only operating potash mine, Vale’s Taquari-Vassouras underground sylvinite mine.

Drilling of the second hole, PAC-02 is progressing well and is currently at a depth of 1,250 metres. The hole is targeting the Ibura member that hosts an important potash bearing evaporite sequence within the Sergipe Basin in north eastern Brazil.