Highlights:

14,000 metre infill drilling program now complete
Updated mineral resource incorporating new drill results targeted for release at end of August
Pilot Plant testing has produced phosphate concentrates grading up to 34% P₂O₅
Comminution test work at Metso underway to test the optimization of the oxide circuit with further CAPEX savings expected
Revised layout of mine site significantly reduces project footprint including smaller water reservoir, tailings dam and waste piles
Revision to mine plan well received by State environmental agency
BFS just over 50% complete and permitting progressing well

SYDNEY, AUSTRALIA August 1, 2017 – Brazilian fertilizer developer Aguia Resources Limited (ASX: AGR, TSXV:AGRL) (“Aguia” or the “Company”) is pleased to update shareholders on the recent progress of the Bankable Feasibility Study (BFS) for the Três Estradas Phosphate Project in southern Brazil. The BFS is currently just over 50% completed with most of the Definition Phase work completed including: drilling, sampling, metallurgical test work and tradeoff studies.