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Prepared by DJ Carmichael Pty Ltd

Aguia reports improved results from revised metallurgy test work – Prepared by DJ Carmichael

Positive new column flotation testwork: AGR has engaged Eriez Flotation Division of Pennsylvania to determine the phosphate recovery and concentrate grades of the fresh and oxide ore from the Três Estradas project. Testwork using several stages of column flotation on fresh ore yielded a final concentrate grade of 30.25% and a total circuit recovery of 84.6%. This is a major improvement on the original testwork that was done as part of the original PEA where recoveries were reported at 65% with a concentrate grading of 28%.

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