Summary

The National Department of Mineral Production has confirmed the granting of tenements covering the Tres Estradas South and Joca Tavares projects which adds two highly prospective mineralised targets to the company’s resource portfolio in southern Brazil.
At Tres Estradas only the northern section, which represents 45% or 1.2km of the more than 2.6 km of mineralised strike has so far been drill tested as the balance of the deposit strikes onto the new tenement indicating further upside.
The granting of Tres Estradas South allows immediate access for drill testing of an additional 1.4 kilometres of phosphate bearing carbonatite host rocks evident at surface providing excellent potential for a significant expansion of the JORC compliant mineral resource.
The granting of Joca Tavares provides walk up drill targets within mineralised carbonatite host rocks outcropping at surface over a large area co-incident with an airborne magnetic anomaly.
The Company holds an extensive land position in the region and believes Rio Grande do Sul has the potential to host a major new phosphate province in close proximity to infrastructure, primary agriculture customers and fertiliser blenders.