Phosphoric Acid, Phosphates & Fertilizers Experts

Test Results Indicate CAPEX and OPEX Reductions for Três Estradas Bankable Feasibility Study

TORONTO, CANADA – October 17, 2017 – Brazilian fertilizer developer Aguia Resources Limited (ASX: AGR, TSXV:AGRL) (“Aguia” or “Company”) is pleased to update shareholders on the progress of the Bankable Feasibility Study (“BFS”) for its Três Estradas Phosphate Project in southern Brazil, and confirms that the BFS is on track for completion in or around March 2018.

Several important test work programs have been successfully completed, including: a column flotation commercial scale pilot plant program at Eriez – Pennsylvania, crushing and grinding test work at Metso – Brazil, solid-liquid separation of flotation concentrate and tailings at Pocock Industrial Inc. – Utah and geotechnical drilling and test work for foundation design with Prosonda, Brazil.