Significant Increase to Três Estradas Resource

Aguia significantly increases Três Estradas phosphate resource by 130% to 70.1 million tonnes

Highlights:

• Total JORC compliant Indicated and Inferred resources increase 130% from 30.5 Mt to 70.1 Mt (comprising 15.2 Mt Indicated and 54.9 MT Inferred) with an average grade of 4.20% P₂O₅
• Higher grade oxide zone from surface more than doubled, with combined Indicated and Inferred resource of 3.9 Mt @ 10.25% P₂O₅
• Strike‐length of Três Estradas deposit extended by 1.3 km to a total of 2.5 km of mineralisation
• Três Estradas project now moves into development phase:
  • Bench scale beneficiation tests to improve P₂O₅ process recovery now in final stages with results expected next month
  • Preliminary Economic Assessment by SRK Consulting expected to be completed by end of July

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