IRW-PRESS: Aguia Resources Limited: Aguia Resources Limited: Bohrungen in südöstlicher
Zone bei Três Estradas liefern weiterhin eindrucksvolle Ergebnisse

Bohrungen in südöstlicher Zone bei Três Estradas liefern weiterhin eindrucksvolle
Ergebnisse
Höhepunkte:
- Bohrungen entlang der kürzlich entdeckten südöstlichen Zone mit
Streichenlänge von mindestens 700 m sorgen weiterhin für Entdeckungen von Mineralisierung
mit Mächtigkeiten und Gehalten, die jenen der aktuellen Lagerstätte Três Estradas
entsprechen:
o Bohrloch TED-17-121 ergab 28,60 m mit 3,53 % P2O5
o Bohrloch TED-17-124 ergab 54,00 m mit 3,70 % P2O5
o Bohrloch TED-17-126 ergab 40,05 m mit 3,08 % P2O5
o Bohrloch TED-17-127 ergab 28,55 m mit 3,87 % P2O5

- Die Streichenlänge der nordöstlichen Erweiterung ist weiterhin über 700 m offen
und das Unternehmen wird mit oberflächennahen RC-Bohrungen beginnen, um diese potenzielle
Erweiterung hinsichtlich weiterer oxidierter Mineralisierungen zu erproben

- Ergänzungsbohrungen bei Lagerstätte Três Estradas liefern weiterhin
hervorragende Ergebnisse, die die Homogenität der Mineralisierung sowie die Beständigkeit
an der Seite und in der Tiefe bestätigen:
o Bohrloch TED-17-111 ergab 45,70 m mit 4,51 % P2O5
o Bohrloch TED-17-114 ergab 79,00 m mit 3,23 % P2O5

- 13.710 m an Ergänzungsbohrungen (Infill-Bohrungen) abgeschlossen - Programm soll bis Ende
des Monats finalisiert werden

- Pilotanlagen-Flotationstest von oxidierter Karbonatit-Großprobe zurzeit bei Eriez im
Gange

- Geplante Notierung an TSX-V geht gut voran

Der brasilianische Düngemittelentwickler Aguia Resources Limited (ASX: AGR) (Aguia oder das
Unternehmen - http://www.commodity-tv.net/c/search_adv/?v=297517) freut sich, seinen Aktionären
ein Update des laufenden Ergänzungsbohrprogramms bei seinem Vorzeige-Phosphatprojekt Três
Estradas im Süden von Brasilien bereitzustellen. Das Programm liefert weiterhin positive
Ergebnisse, die die Homogenität und Beständigkeit der Lagerstätte nachweisen. Ein
Diamant- und ein RC-Bohrgerät sind weiterhin am Standort im Einsatz.

Bis dato wurden insgesamt 13.710 Meter gebohrt, einschließlich 9.495 Meter an
Diamantbohrungen und 4.215 Meter an RC-Bohrungen. Das jüngste Bohrprogramm, das Ende 2016
begonnen hat, ist ein größeres Vorhaben und macht etwa 50 Prozent der Diamant- und
RC-Bohrungen auf insgesamt 27.800 Metern aus, die seit 2011 im Konzessionsgebiet durchgeführt
wurden.

Wie bereits am 16. Februar 2017 gemeldet, identifizierte das Unternehmen eine neue
oberflächennahe Mineralisierungszone entlang der Südostgrenze des geplanten Grubenmantels
von Três Estradas. Durch die Bohrungen wurde in dieser Zone eine Beständigkeit auf einem
Streichen von mindestens 700 Metern nachgewiesen, wobei die nordöstliche Erweiterung weiterhin
vollständig offen ist. Die geologische Modellierung der Ergebnisse entlang dieser Zone weist
darauf hin, dass die gefaltete Struktur in Richtung Südwesten abfällt, weshalb die nach
wie vor offene nordöstliche Erweiterung die Oberfläche erreichen sollte und
möglicherweise hochgradiges oxidiertes Material beherbergt. Die nordöstliche Erweiterung
wird im Rahmen zusätzlicher RC-Bohrungen auf 500 Metern erprobt werden, die potenziell
oxidiertes Material in Oberflächennähe anpeilen werden.

Die Ergänzungsbohrungen entlang dieses 700-Meter-Streichens werden fortgesetzt, um von der
Oberfläche bis in eine Tiefe von nur 100 Metern eine Ressource der gemessenen (Measured) und
angezeigten (Indicated) Kategorie zu produzieren. Die Strategie des technischen Teams bestand darin,
eine oberflächennahe Mineralisierung anzupeilen, die zur aktuellen Ressource hinzugefügt
wird. Es ist davon auszugehen, dass die Integration nicht nur das allgemeine Abraumverhältnis
des geplanten Betriebs verbessern, sondern schließlich auch die Abbaukosten senken wird. Die
Ergebnisse dieser Zone weisen darauf hin, dass die Mächtigkeiten und die Gehalte mit jenen des
Großteils der Lagerstätte übereinstimmen, was durch die Ergebnisse der
Bohrlöcher TED-17-124, das 3,70 Prozent P2O5 auf 54,00 Metern ergab, und TED-17-126, das 3,08
Prozent P2O5 auf 40,05 Metern ergab, nachgewiesen wurde.

Der Pilotanlagentest der frischen Karbonatit-Großprobe in der Flotation Division von Eriez
in Pennsylvania ist abgeschlossen. Die Analyseergebnisse des frischen Karbonatits sind noch
ausständig und werden veröffentlicht, sobald sie verfügbar sind. Nun, da die
Erprobung des frischen Karbonatits abgeschlossen ist, werden in der Pilotanlage nun Großproben
des oxidierten Karbonatits erprobt.

Das Unternehmen hat kürzlich Nano, ein Kommunikationsunternehmen aus Porto Alegre, damit
beauftragt, die Informationen und Kommunikation hinsichtlich unserer Erschließungsarbeiten mit
den Gemeinden Três Estradas und Lavras do Sul sowie mit den staatlichen Behörden in Porto
Alegre und allen Interessensvertretern des Projektes zu unterstützen. Kürzlich wurden
mehrere Veranstaltungen hinsichtlich des Gemeinschaftsbewusstseins abgehalten, einschließlich
Workshops mit der Gemeinde und Präsentationen des Projektes für ein zahlreiches lokales
Publikum.

Technical Director Dr. Fernando Tallarico sagte: Die Bohrergebnisse entlang der neuen
südöstlichen Zone und innerhalb der Lagerstätte sind äußerst konsistent
und verdeutlichen die kontinuierliche und homogene Beschaffenheit der Lagerstätte Três
Estradas. Wir sind zuversichtlich, dass die Möglichkeit besteht, zusätzliches oxidiertes
Material entlang der nordöstlichen Erweiterung dieser kürzlich entdeckten neuen Zone zu
finden.

Managing Director Justin Reid fügte hinzu: Unser technischer Erfolg bei Três Estradas
treibt den Wert des Projektes mit jedem Meter, den wir bohren, weiter nach oben. Die Konsistenz des
Erzkörpers ermöglicht ein einfaches Minenmodell für die bankfähige
Machbarkeitsstudie und unsere neue Erweiterung bietet die Möglichkeit für eine
beträchtliche Steigerung des oberflächennahen, zugänglichen Erzes, das unsere
Abbaukosten weiter senken wird.

Ich bin kürzlich vom Standort zurückgekehrt, wo ich mich mit unserem langfristigen
Kommunikationsplan mit der Gemeinde und der Region von NANO vertraut gemacht habe, das einen
ganzheitlichen Kommunikationsansatz entworfen hat, um die unglaubliche Arbeit fortzusetzen, die das
Team bis dato geleistet hat. Unser Team wurde beim Treffen mit dem Bürgermeister von Lavras do
Sul, der unsere Arbeiten weiterhin unterstützt und eng mit uns zusammenarbeitet, um unseren
Beitrag für alle lokalen Interessensvertreter unseres Projektes zu steigern, herzlich
empfangen. Wir sehen uns bereits als wichtigen Teil der Gemeinde und freuen uns darauf, ein
Arbeitgeber und Produzent zu werden.

Aguia gibt auch bekannt, dass seine geplante Notierung an der Toronto Venture Exchange gut voran
geht, zumal der Großteil der erforderlichen Dokumentation nun bei den
Regulierungsbehörden der TSX-V zur Prüfung eingereicht wurde. Ein Update des Zeitplans der
Notierung wird in Kürze bereitgestellt werden.

Für weitere Informationen kontaktieren Sie bitte:
Justin Reid, Managing Director
E: jreid@aguiaresources.com.au
T: +1 416-216-5446

Catherine Stretch, Chief Commercial Officer
E: cstretch@aguiaresources.com.au
T: +1 416-309-2695

Jan-Per Hole, Vice President Corporate Development Australia
E: jph@aguiaresources.com.au
T: +61 (0) 414 899 732 

Veröffentlicht über: Ben Jarvis, Six Degrees Investor Relations: +61 413 150 448

In Europa:
Swiss Resource Capital AG
Jochen Staiger
info@resource-capital.ch
www.resource-capital.ch

Folgen Sie uns auf Twitter: @ Aguia_Resources 

Über Aguia:
Aguia Resources Limited (Aguia) ist ein an der ASX notiertes Unternehmen, dessen Hauptaugenmerk
auf die Exploration und Erschließung von Phosphatprojekten in Brasilien gerichtet ist. Aguia
hat ein renommiertes und erfahrenes inländisches Team zusammengestellt, dessen Sitz sich in
Belo Horizonte (Brasilien) befindet, wobei es auch Niederlassungen in Sydney (Australien) gibt. Die
Schlüsselprojekte von Aguia befinden sich in Rio Grande do Sul, einer wichtigen
landwirtschaftlichen Region, die zu 100 Prozent von Phosphatimporten abhängig ist. Die
Phosphatlagerstätten in Rio Grande sind qualitativ hochwertig, ermöglichen eine
kostengünstige Produktion und befinden sich außerdem in der Nähe einer
Straßen-, Eisenbahn- und Hafeninfrastruktur. Das erfahrene Management-Team von Aguia kann eine
umfassende Erfahrung bei der Weiterentwicklung von qualitativ hochwertigen brasilianischen
Bergbauaktiva in die Produktion vorweisen.

Die Informationen in dieser Meldung, die sich auf Explorationsziele, Explorationsergebnisse,
Mineralressourcen oder Erzreserven beziehen, basieren auf Informationen, die von Dr. Fernando
Tallarico, einem Mitglied der Association of Professional Geoscientists of Ontario, erstellt wurden.
Dr. Tallarico ist ein Vollzeitangestellter des Unternehmens. Dr. Tallarico verfügt über
ausreichende Erfahrung, die für diese Art von Mineralisierung und Lagerstätte sowie
für seine Tätigkeiten erforderlich ist, um als kompetente Person (Competent Person)
gemäß der Ausgabe von 2012 des Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves definiert werden zu können. Dr. Tallarico erlaubt das
Hinzufügen von Material zu diesem Bericht, das auf seinen Informationen basiert und in Form und
Kontext erscheint.

Die Ausgangssprache (in der Regel Englisch), in der der Originaltext veröffentlicht wird,
ist die offizielle, autorisierte und rechtsgültige Version. Diese Übersetzung wird zur
besseren Verständigung mitgeliefert. Die deutschsprachige Fassung kann gekürzt oder
zusammengefasst sein. Es wird keine Verantwortung oder Haftung: für den Inhalt, für die
Richtigkeit, der Angemessenheit oder der Genauigkeit dieser Übersetzung übernommen. Aus
Sicht des Übersetzers stellt die Meldung keine Kauf- oder Verkaufsempfehlung dar! Bitte
beachten Sie die englische Originalmeldung auf www.sedar.com , www.sec.gov , www.asx.com.au/ oder
auf der Firmenwebsite!

Die vollständige Meldung finden Sie hier:
http://stockmarket.hobsonwealth.co.nz/news-item?S=AGR&E=ASX&N=1013104 

Aguia Resources Limited ABN 94 128 256 888
Suite 4, Level 9, 341 George Street, Sydney, NSW 2000
Telephone 02 9299 9690 Facsimile 02 9299 9629
www.aguiaresources.com.au 

http://www.irw-press.at/prcom/images/messages/2017/39693/08052017_EN_Aguia_Drilling_Update_deprcom.001.jpeg

Figure 1:  Geological map of the Três Estradas carbonatite draped over aerial photograph,
highlighting the status of the ongoing drilling program.

http://www.irw-press.at/prcom/images/messages/2017/39693/08052017_EN_Aguia_Drilling_Update_deprcom.002.png

Figure 2:  Drilling section 950NE of the Três Estradas Deposit, showing the new southeast
zone and one of the highlighted drill results of TED-17-124, which returned recently and confirmed
the model of the new zone. Note that the bulk of the new carbonatite drilled in this section is
beyond the previous pit model.

Table 1 - Assay Results of the Drilling Campaign
(*Holes identifications initiated with TED are diamond holes and those initiated with TER are
reverse circulation holes)

Hole_IDFrom  To (m)LengthP2O5% CaO%  MgO%  Fe2O3%SiO2% Al2O3%
        (m)         (m)

TED-17-31,10 76,80 45,70 4,51  32,76 8,49  7,62  12,57 0,65
111

       138,60163,7525,15 3,43  32,70 7,58  7,82  14,48 2,91
       214,65283,7769,12 3,29  31,23 7,20  8,53  16,96 4,01
                                                        
TED-17-7,30  11,15 3,85  8,06  12,24 3,32  16,66 39,38 7,05
114

       11,15 31,85 20,70 3,74  30,34 9,35  8,56  11,67 1,82
       35,85 72,60 36,75 3,27  31,62 7,95  8,48  15,97 2,71
       160,00182,0022,00 3,73  23,61 7,91  11,53 26,25 5,97
       188,00267,0079,00 3,23  29,14 8,29  9,38  15,95 3,60
                                                        
TED-17-0,00  4,52  4,52  3,93  25,92 4,17  11,46 25,08 4,68
115

       4,52  26,00 21,48 3,22  38,33 4,99  6,51  12,58 2,96
       44,92 64,00 19,08 3,90  20,21 9,44  12,02 35,83 6,48
                                                        
TED-17-162,00193,4031,40 3,02  28,91 6,06  8,65  22,28 4,23
118

                                                        
TED-17-16,00 22,40 6,40  4,04  14,83 6,57  10,07 38,78 8,82
121

       22,40 51,00 28,60 3,53  34,01 9,07  6,87  11,32 1,81
                                                        
TED-17-40,00 94,00 54,00 3,70  30,65 11,06 7,20  11,69 1,71
124

                                                        
TED-17-0,00  4,00  4,00  14,23 19,16 3,42  43,96 229,2045,50
125

       52,00 29,00 27,00 3,36  32,27 8,11  7,12  16,13 2,55
TED-17-47,45 87,50 40,05 3,08  32,01 7,91  7,09  17,57 2,52
126

                                                        
TED-17-50,45 79,00 28,55 3,87  34,59 8,63  6,48  10,91 2,15
127

                                                        


Hole_IUTM_E UTM_N  ElevatiLengthStatusDatum  AzimutDip
D                  on      (m)   of          h
                    (m)          coord
                                inate

TED-177672896577245342    288,70GPS   SAD-69 150,00-60,00
-111                                   Z21S

TED-177672986577195341    279,45GPS   SAD-69 150,00-60,00
-114                                   Z21S

TED-177667546576772351    65,25 GPS   SAD-69 150,00-60,00
-115                                   Z21S

TED-177677646576921340    199,20GPS   SAD-69 330,00-55,00
-118                                   Z21S

TED-177677156577005350    66,35 GPS   SAD-69 330,00-55,00
-121                                   Z21S

TED-177674746576829353    105,00GPS   SAD-69 330,00-55,00
-124                                   Z21S

TED-177675206576836355    97,00 GPS   SAD-69 330,00-55,00
-125                                   Z21S

TED-177675636576862356    95,40 GPS   SAD-69 330,00-55,00
-126                                   Z21S

TED-177676456576928353    107,80GPS   SAD-69 330,00-55,00
-127                                   Z21S

JORC Code, Table 1 
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)


CriteriJORC Code explanation       Commentary
a

Samplin· Nature and quality of     · Work is being carried out
g       sampling                    using RC and diamond
 techni (                           drilling, with samples
ques   eg cut channels, random      being analysed by
        chips, or specific          laboratory analyses
        specialised industry        suitable for the
        standard measurement tools  carbonatite mineralisation
        appropriate to the          being
        minerals under              
        investigation, such as     targetted
        down hole gamma            · Drill hole locations are
                                    detailed in a table in the
       sondes, or handheld XRF      text of this release, and
        instruments,                shown graphically on a
                                    plan
       etc). These examples should
        not be taken as limiting
        the broad meaning of
        sampling.

· Include reference to      · Hole locations are picked
 measures taken to ensure    up using hand-held GPS.
 sample                      Sampling is carried out
                             using comprehensive
representivity and the       
 appropriate calibration of Aguia protocols and QAQC
 any measurement tools or    procedures as per industry
 systems                     best
 used.                       practice

· Aspects of the            · Mineralisation is
 determination of            generally
 mineralisation that are     visual
 Material to the Public
 Report. In cases where     · RC samples are collected
 industry standard work    and assayed at 1m
 has been done this would    intervals, with a
 be relatively simple        representative 2kg sample
 (                           of all intervals being
eg reverse circulation      collected for XRF assay at
 drilling was used to        the
 obtain 1 m samples from     
 which 3 kg was pulverised  laboratory.
 to produce a 30 g charge   · Half core diamond drill
 for fire assay). In other  samples in mineralized
 cases more explanation may  material are generally
 be required, such as where  collected at 1m intervals
 there is coarse gold that   and sent to the laboratory
 has inherent sampling       for assay; however lengths
 problems. Unusual           will vary to generally
 commodities or              between 0.5 and 1.5m to
 mineralisation types        honour geological
 (                           boundaries where required.
eg submarine nodules) may    
 warrant disclosure of
 detailed                   · In all cases drilling
 information.                samples are sent to SGS
                             laboratories in Belo
                             Horizonte and analysed
                             using method XRF79C_10 -
                             Lithium tetra borate
                             fusion. Elements assayed
                             for include
                             SiO
                            2, Al2O3, Fe2O3, CaO, MgO,
                             TiO
                            2, P2O5, Na2O, K2O, MnO and
                             LOI, which is considered
                             suitable for the type of
                             mineralisation

Drillin· Drill type (eg core,      · Reverse Circulation -
g       reverse circulation,        Drilling utilized a face
 techni open-hole hammer, rotary    sampling Hard Formation
ques    air blast, auger, Bangka,   Bit with Tungsten buttons
        sonic,                      and a diameter of 5 œ
                                    inches. No downhole
       etc) and details (eg core    surveys were completed.
        diameter, triple or          
        standard tube, depth of
        diamond tails,             · Core Drilling - Drilling
        face-sampling bit or other  utilized HQ equipment for
        type, whether core is       weathered material and NQ
        oriented and if so, by      for fresh rock. Downhole
        what method,                surveys are performed on
                                    3-metre intervals using a
       etc).                        
                                   Maxibore down-hole tool. No
                                    core orientation has been
                                    carried
                                    out.

Drill  · Method of recording and   · RC - recoveries are
 sample assessing core and chip     monitored by samples
 recove sample recoveries and       weight. The minimum
ry      results                     recovery is
        assessed.                   85%.

                                   · Core Drilling - Recovery
                                    by sample and by drill run
                                    was recorded; core
                                    recovery generally exceeds
                                    97%

· Measures taken to         · Diamond Drilling - Due to
 maximise sample recovery    the coherent nature of the
 and ensure representative   fresh rock and homogenous
 nature of the               nature of the
 samples.                    mineralisation sample
                             recovery is not an issue.
                              In the
                             
                            saprolite recovery is
                             maximised using short
                             drill runs and best
                             drilling
                             practices.

                            · RC - Dry samples are
                             collected through a
                             cyclone and riffle
                             splitter ensuring
                             homogenisation and
                             representative sampling.
                             Wet samples are dried, and
                             then homogenised and
                             sampled by
                             hand.

· Whether a relationship    · Mineralisation is
 exists between sample       homogenous throughout the
 recovery and grade and      mineralized intervals,
 whether sample bias may     with no relationship
 have occurred due to        between sample recovery
 preferential loss/gain of   and grade on any type of
 fine/coarse                 drilling.
 material.

Logging· Whether core and chip     · RC - logging is to a
        samples have been           detail considered suitable
        geologically and            for inclusion in resource
                                    estimations
       geotechnically logged to a
        level of detail to support · Diamond - logging is
        appropriate Mineral         considered suitable for
        Resource estimation,        inclusion in resource
        mining studies and          estimations, metallurgical
        metallurgical               studies and preliminary
        studies.                    mining studies. The lack
                                    of orientated core and
                                    geotechnical logging prior
                                    to cutting precludes the
                                    use in detailed mining
                                    studies

· Whether logging is        · RC logging includes
 qualitative or              lithology and
 quantitative in nature.     weathering
 Core (or
                            · Diamond logging includes
costean, channel, etc)       rock type, alteration,
 photography.                structure and qualitative
                             magnetism. No core
                             
                            orientation has been
                             carried out, with
                             structural measurements
                             being limited to alpha
                             angles only. All core is
                             photographed dry before
                             being
                             cut

· The total length and      · 100% of the relevant
 percentage of the relevant  intersections of all
 intersections               drilling are
 logged                      logged

Sub-sam· If core, whether cut or   · Solid core is sawn in
pling   sawn and whether quarter,   half, with half being sent
 techni half or all core            for assay and half being
ques    taken.                      retained for reference.
 and                                Friable core is split down
 sample                             the
 prepar                             
ation                              center  line using a
                                    spatula or similar tool,
                                    with half being retained
                                    and half sent for
                                    assay.

· If non-core, whether      · RC- One metre samples are
 riffled, tube sampled,      collected from the
 rotary split,               cyclone, with moist
                             samples being split using
etc and whether sampled wet  a plastic liner and metal
 or                          cross-blade device, and
 dry.                        dry samples being split
                             through a riffle splitter.
                             Saturated samples are
                             dried before
                             homogenization. Two
                             representative samples of
                             between 500g and 2kg are
                             collected, with one for
                             assay and a second for
                             reference.

                            · For all sampling and
                             drilling, samples are
                             dried and crushed, and
                             then milled to 75% passing
                             80 mesh using LM mills at
                             the
                             laboratory.

· For all sample types, the · The sample preparation
 nature, quality and         techniques are industry
 appropriateness of the      standard and are
 sample preparation          considered appropriate for
 technique.                  the mineralisation being
                             investigated

· Quality control           · Industry standard
 procedures adopted for all  procedures are employed,
 sub-sampling stages to      including ensuring
 maximise                    non-core samples are
                             adequately homogenized
representivity of samples.   before assay and archive
                             samples are
                             collected

· Measures taken to ensure  · No field duplicate
 that the sampling is        samples or second half
 representative of the in    sampling was done. The
 situ material collected,    target mineralization is
 including for instance      largely
 results for field           homogeneous.
 duplicate/second-half
 sampling.

· Whether sample sizes are  · Sample sizes are
 appropriate to the grain    considered appropriate to
 size of the material being  the grain size of the
 sampled.                    material being
                             assayed

Quality· The nature, quality and   · The XRF method used is
 of     appropriateness of the      industry standard and
 assay  assaying and laboratory     considered appropriate for
 data   procedures used and         the analysis of
 and    whether the technique is    apatite-hosted phosphate
 labora considered partial or       mineralisation.
tory    total.                      
 tests
                                   · Sample preparation and
                                    analysis was completed at
                                    SGSs Belo Horizonte
                                    laboratory in Brazil using
                                    standard crushing and
                                    pulverization
                                    techniques.

                                   · The prepared pulps are
                                    analysed by a lithium
                                    borate fusion XRF
                                    spectroscopy for major
                                    oxide elements (P2O5,
                                    Al2O3,
                                    
                                   CaO, Fe2O3, K2O, MgO, MnO2,
                                    SiO2, TiO2, Na2O and LOI
                                    (Method code XRF79C and
                                    PHY01E).

                                   · In specific cases,
                                    samples were also analysed
                                    for a suite of 31 elements
                                    using an aqua
                                    
                                   regia digestion and
                                    inductively coupled plasma
                                    - mass spectrometry
                                    (Method code
                                    ME-MS81).

                                   · The preparation and
                                    analytical procedures are
                                    appropriate for the type
                                    of mineralization sampled
                                    and are reliable to
                                    deliver the total content
                                    of the analysed
                                    compounds.

· make and model, reading   · Where utilised, hand held
 times, calibrations         XRF is an Delta Analyser
 factors applied and their   CS-4000 by
 derivation,                  
 etc.                       Innov-X Systems

· For geophysical tools,    · There is a calibration
 spectrometers, handheld     plate supplied by
 XRF instruments,            INOVV-X-Systems for the
                             calibration of the
etc, the parameters used in  Portable X Ray
 determining the analysis    Fluorescence
 including                   equipment.
 instrument

· Nature of quality control · Aguia has prepared two
 procedures adopted          certified phosphate
 (                           reference materials
eg standards, blanks,        (standards) from material
 duplicates, external        collected from the
 laboratory checks) and      
 whether acceptable levels  Tres Estradas deposit -
 of accuracy                 these comprise a mid and
 (                           high grade standard and
ie lack of bias) and         are considered appropriate
 precision have been         to the mineralisation
 established.                being
                             drilled

                            · This is in addition to
                             fine and coarse blank
                             standards prepared from
                             barren quartz
                             veins.

                            · One each of the above
                             company supplied standards
                             is included in each batch
                             of 48 samples, in addition
                             to a pulp duplicate.
                             

                            · One batch of 48 samples
                             is sent monthly for umpire
                             laboratory
                             testing.

                            · Umpire testing is
                             performed at
                             
                            At ALS Chemex in Lima,
                             Peru, where they are
                             
                            analyzed for a suiten of
                             elements using method code
                             XRF12pt/XRF24)

                            · Additionally, Aguia relies
                             on the analytical quality
                             control measured
                             implemented by the ISO
                             accredited laboratory
                             used.

Verific· The verification of       · The AGR procedures
ation   significant intersections   consists an internal
 of     by either independent or    double check and, when
 sampli alternative company         required an independent
ng and  personnel.                  verification during the
 assayi                             independent audit
ng                                  process.

· The use of twinned holes. · Given this is the initial
                             programme at TE South no
                             twin holes have been
                             drilled

· Documentation of primary  · Data is manually entered
 data, data entry            onto logging sheets on
 procedures, data            site by
 verification, data storage  
 (physical and electronic)  Aguia geologists. This data
 protocols.                  is then entered into a
                             digital database
                             consisting of Excel
                             workbooks. Assay data from
                             the laboratory is merged
                             into the downhole sample
                             sheets. All original
                             logging sheets and digital
                             data are stored. Digital
                             data is regularly backed
                             up.

                            · Data is yet to be
                             externally audited;
                             external audits of
                             previous drilling has
                             confirmed the veracity of
                             work carried
                             out

· Discuss any adjustment to · There is no adjustment to
 assay                       assay
 data.                       data

Locatio· Accuracy and quality of   · All borehole collars were
n of    surveys used to locate      surveyed according to the
 data   drill holes (collar and     local UTM coordinate
 points down-hole surveys),         system (South American
        trenches, mine workings     Datum 1969 - SAD69, Zone
        and other locations used    21S), using differential
        in Mineral Resource         GPS equipment before
        estimation.                 drilling
                                    
                                   started, and once drilling
                                    had been
                                    completed.

· Specification of the grid · SAD 1969 UTM system, Zons 
 system                     21S
 used.

· Quality and adequacy of   · A topographic survey of
 topographic                 the project area was
 control.                    completed using
                             differential GPS
                             technology.

                            · The survey consisting of
                             lines spaced 25 metres
                             apart, and control lines
                             spaced 100 metres
                             apart.

                            · The topographic survey
                             generated contour lines at
                             1-metre intervals in the
                             meta-carbonatite area.
                             Contour lines at 5-metre
                             intervals were obtained
                             for the remaining area
                             using shuttle radar
                             topography mission (SRTM)
                             and
                             
                            orthorectified Geoeye images
                             with 0.5 metre
                             resolution.

Data   · Data spacing for          · RC Drilling - RC holes,
 spacin reporting of Exploration    all vertical, at
g and   Results.                    
 distri                            Tres Estrada South are
bution                              being drilled on 50m
                                    spaced lines, with spacing
                                    along drill lines
                                    determined by carbonatite
                                    outcrop

                                   · Diamond Drilling -
                                    Diamond holes (inclined)
                                    at
                                    
                                   Tres Estradas are being
                                    drilled on 100m spaced
                                    lines, with spacing along
                                    drill lines determined by
                                    carbonatite outcrop
                                    

· Whether the data spacing  · The data spacing and
 and distribution is         distribution is considered
 sufficient to establish     suitable for the style of
 the degree of geological    mineralisation being
 and grade continuity        tested, and will be
 appropriate for the         suitable for use in
 Mineral Resource and Ore    Mineral Resource and
 Reserve estimation          Reserve
 procedure(s) and            estimations
 classifications
 applied.

· Whether sample            · For the purposes of
 compositing has been        reporting of results no
 applied.                    sample compositing has
                             been
                             applied

Orienta· Whether the orientation   · The bulk nature of the
tion    of sampling achieves        mineralisation indicates
 of     unbiased sampling of        that sampling bias will
 data   possible structures and     not be introduced by
 in     the extent to which this    changing drilling
 relati is known, considering the   direction
on to   deposit                     
 geolog type.
ical
 struct
ure

· If the relationship       · Given the bulk and
 between the drilling        homogenous nature of the
 orientation and the         mineralisation it is
 orientation of key          considered that there is
 mineralised structures is   no sampling
 considered to have          bias
 introduced a sampling
 bias, this should be
 assessed and reported if
 material.

Sample · The measures taken to     · Chain of custody is
 securi ensure sample               managed by
ty      security.                   
                                   Aguia. Samples are stored
                                    on site. Assay samples are
                                    sent by freight express to
                                    the relevant laboratories.
                                    

Audits · The results of any audits · Tres Estradas - Audit by
 or     or reviews of sampling      SRK Consulting in early
 review techniques and              2013 and late 2014
s       data.                       indicated that techniques
                                    utilised by
                                    
                                   Aguia were in line with
                                    generally accepted
                                    industry best practices.
                                    The same audit found no
                                    issues with the data.
                                    

Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)

CriteriaJORC Code explanation      Commentary
Mineral · Type, reference          · Tres Estradas
 tenemen name/number, location and Permit 810.090/91,
t and    ownership including        irrevocable right to 100%
 land    agreements or material     under an exercised option
 tenure  issues with third parties  agreement with
 status  such as joint ventures,    
         partnerships, overriding  Companhia Brasiliera de Cob
         royalties, native title   re
         interests, historical      (CBC).
         sites, wilderness or
         national park and         On July 1, 2011, CBC and Ag
         environmental             uia
         settings.                  Metais Ltda., a
                                    subsidiary of
        · The security of the       
         tenure held at the time   Aguia in Brazil, executed
         of reporting along with    an option agreement
         any known impediments to   providing the irrevocable
         obtaining a licence to     purchase option of these
         operate in the             mineral rights by
         area.                      
                                   Aguia Metais (or its
                                    affiliate or
                                    subsidiaries). On May 30,
                                    2012
                                    
                                   Aguia Metais exercised the
                                    purchase option
                                    concerning these mineral
                                    rights by means of its
                                    affiliate
                                    
                                   Aguia Fertilizantes S/A (Ag
                                   uia
                                    Fertilizantes). On July
                                    10, 2012, CBC and
                                    
                                   Aguia Fertilizantes execute
                                   d an irrevocable agreement
                                    providing the assignment
                                    of these mineral rights
                                    to
                                    
                                   Aguia Fertilizantes. On
                                    July 20, 2012 CBC filed a
                                    request before the DNPM
                                    applying for the transfer
                                    of these mineral rights
                                    to
                                    
                                   Aguia Fertilizantes.

                                   The 2nd two-year term
                                    expired on August 16,
                                    2012, with the Final
                                    Exploration Report now
                                    under review by the
                                    Government, approval of
                                    which will allow the
                                    Company a further year
                                    (from the date of
                                    approval) to submit an
                                    Economic Exploitation
                                    Plan.





                                   · Tres Estradas South
                                   Permit 810.325/12,
                                    irrevocable right to 100%
                                    under an exercised option
                                    agreement with
                                    
                                   Companhia Brasiliera de Cob
                                   re
                                   .
                                   Granted April 29, 2013,
                                    initial 3 year term
                                    expiry April 29, 2016.
                                    The partial report with
                                    time extension request
                                    was filed February 23,
                                    2016.

Explorat· Acknowledgment and       · Tres Estradas and Tres Es
ion      appraisal of exploration  trada
 done    by other                   South
 by      parties.
 other                             Discoveries of phosphate
 parties                            rich rocks at TE were
                                    made by a joint
                                    exploration programme
                                    between
                                    
                                   Companhia Brasileiraa do Co
                                   bre
                                    and Santa Elina in
                                    2007/2008 during a gold
                                    exploration programme.
                                    This involved an
                                    integrated geochemical/
                                    geological/geophysical
                                    and drilling programme.
                                    The gold results were
                                    disappointing, causing
                                    Santa Elina to withdraw
                                    from the JV, however +6%
                                    phosphate values were
                                    noted in assaying of
                                    soils and drill
                                    core.

Geology · Deposit type, geological · Tres Estradas and Tres Es
         setting and style of      tradas
         mineralisation.            South
                                   The mineralisation is a
                                    carbonatite hosted
                                    phosphate deposit, with
                                    apatite as the phosphate
                                    bearing mineral. The
                                    NE-SW trending
                                    carbonatite is probably
                                    Mid-Proterozoic in age,
                                    and has been
                                    
                                   affected by
                                    Neo-Proterozoic shearing
                                    and metamorphism. It is
                                    hosted in the Santa Maria
                                    Chico Granulite Complex,
                                    within the
                                    
                                   Taquarembo Domain of the
                                    Achaean to Proterozoic
                                    
                                   Sul-rio-grandense Shield.

Drill   · A summary of all         · Drillhole information is
 hole    information material to    listed in the appropriate
 Informa the understanding of the   tables in this document,
tion     exploration results        and presented in maps and
         including a tabulation of  sections
         the following information
         for all Material drill
         holes:

        o easting and northing of
         the drill hole
         collar

        o elevation or RL (Reduced
         Level - elevation above
         sea level in metres) of
         the drill hole
         collar

        o dip and azimuth of the
         hole

        o down hole length and
         interception
         depth

        o hole length.
        · If the exclusion of this
         information is justified
         on the basis that the
         information is not
         Material and this
         exclusion does not
         detract from the
         understanding of the
         report, the Competent
         Person should clearly
         explain why this is the
         case.

Data    · In reporting Exploration · Drill intersections are
 aggrega Results, weighting         length weighted. A
tion     averaging techniques,      nominal 3%
 methods maximum and/or minimum     P
         grade truncations         2O5 lower cutoff is used,
         (                          and there is no upper cut
        eg cutting of high grades)  applied to
         and cut-off grades are     intersections.
         usually Material and
         should be
         stated.

· Where aggregate          · Not applicable
 intercepts incorporate
 short lengths of high
 grade results and longer
 lengths of low grade
 results, the procedure
 used for such aggregation
 should be stated and some
 typical examples of such
 aggregations should be
 shown in
 detail.

· The assumptions used for · Not applicable
 any reporting of metal
 equivalent values should
 be clearly
 stated.

Relation· These relationships are  · RC drilling is targetting
ship     particularly important in  the flat lying upper
 between the reporting of           oxide mineralisation -
 mineral Exploration                these holes may be
isation  Results.                   terminated in
 widths                             mineralisation once fresh
 and                                rock has been
 interce                            intersected
pt
 lengths                           · Diamond drilling is targe
                                   tted
                                    to intersect the full
                                    width of the interpreted
                                    steeply dipping
                                    carbonatite bodies
                                    

· If the geometry of the   · RC drilling is generally
 mineralisation with        perpendicular to the
 respect to the drill hole  flat-lying oxide blanket,
 angle is known, its        and oxide intersection
 nature should be           widths will reflect the
 reported.                  true thickness of the
                            oxide
                            layer.

                           · Diamond holes are
                            drilled at an acute angle
                            to the steeply to
                            vertically dipping
                            carbonatite bodies, hence
                            downhole widths will be
                            greater than true widths.
                            For
                            
                           drillholes drilled at
                            -60°, true mineralisation
                            widths will generally be
                            in the order of 40-60% of
                            downhole intersection
                            
                           lengths - this is shown in
                            more detail on included
                            cross
                            sections.

· If it is not known and   · Down hole lengths are
 only the down hole         reported
 lengths are reported,
 there should be a clear   · Relationships between
 statement to this effect   true lengths and true
 (                          thickness are shown in
eg down hole length, true  cross
 width not                  sections
 known).

Diagrams· Appropriate maps and     · Refer to maps and
         sections (with scales)     sections in
         and tabulations of         release
         intercepts should be
         included for any
         significant discovery
         being reported These
         should include, but not
         be limited to a plan view
         of drill hole collar
         locations and appropriate
         sectional
         views.

Balanced· Where comprehensive      · Results from all drillhol
 reporti reporting of all          es
ng       Exploration Results is     have been reported
         not practicable,
         representative reporting
         of both low and high
         grades and/or widths
         should be practiced to
         avoid misleading
         reporting of Exploration
         Results.

Other   · Other exploration data,  · Geological mapping and
 substan if meaningful and          interpretation is used as
tive     material, should be        a base for included drill
 explora reported including (but    hole plans and
tion     not limited to):           sections
 data    geological observations;
         geophysical survey
         results; geochemical
         survey results; bulk
         samples - size and method
         of treatment;
         metallurgical test
         results; bulk density,
         groundwater, geotechnical
         and rock characteristics;
         potential deleterious or
         contaminating
         substances.

Further · The nature and scale of  · As presented in the text
 work    planned further work       of this
         (                          report
        eg tests for lateral
         extensions or depth
         extensions or large-scale
         step-out
         drilling).

· Diagrams clearly         · As presented in the text
 highlighting the areas of  of this
 possible extensions,       report
 including the main
 geological
 interpretations and
 future drilling areas,
 provided this information
 is not commercially
 sensitive.

Section 3 Estimation and Reporting of Mineral Resources
Not applicable to this release - this does not include mineral resource estimations
Section 4: Estimation and Reporting of Ore Reserves
Not applicable to this release
Section 5: Estimation and Reporting of Diamonds and Other Gemstones
Not applicable to this release


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