Australia - Aguia Resources Limited (ASX: AGR) ('Aguia' or the 'Company') wishes toinform the market that on 29 June 2021 (after market close in Australia), a Federal Public Prosecutorin Southern Brazil filed a public civil action before the 1st Federal Trial Court of the City of Bage, Stateof Rio Grande do Sul, seeking an emergency injunction to put a stay on the Preliminary Licence (LP)for the Tres Estradas Phosphate Project (TEPP) granted on 15 October 2019, and to not proceed withthe granting of the Installation Licence (LI) for the TEPP.

Aguia and the Rio Grande do Sul State Environmental Agency (FEPAM) were named as co-defendants in the matter. The presiding judge ruled against the granting of an emergency injunction without first hearing the defendants. It is anticipated that both Aguia and FEPAM will be summoned to respond. The defendants will have 30 business days counted as of attachment of the service papers to the case records to file their defences. Aguia is confident that the work carried out on the Environmental Impact Assessment (EIA), which was approved by FEPAM prior to the granting of the LP, was done so with upmost competence by a number of highly regarded experts in their fields, and that as announced on 17 October 2019, FEPAM was extremely diligent in their review of the technical aspects of the EIA, and, in particular, the Aguia community consultation program.1Aguia continues to receive strong support for the TEPP from key stakeholders, including local and state government, and the community in the Lavras do Sul region. The A$3.75 million loan from the Development Bank of Southern Brazil (BRDE) that was announced on 8 June 2021,2 whilst conditional on the issuing of the LI, is not impacted. Aguia has retained its legal advisers in Brazil who worked with the Company throughout the LP process.

Aguia is positioned and prepared to defend these matters vigorously but maintains a willingness to achieve a settlement in the interests of expediting the process. The Company will work to engage in open discussions with the Public Prosecutor.

Managing Director Dr. Fernando Tallarico commented: 'Whilst these proceedings will create some delays with the construction phase of the TEPP, together with FEPAM, we are confident in the quality of the technical work undertaken during the EIA permitting process, our position, and indeed, in the Brazilian legal system. There is considerable support for the TEPP in Rio Grande do Sul state. We will continue to work diligently to resolve this matter and will keep shareholders updated on developments.'

Contact:

Tel: 94 128 256 888

Email: investor.relations@aguiaresources.com.au

About Aguia

Aguia Resources Limited, ('Aguia') is an ASX listed multi-commodity company (AGR:ASX) with pre-production phosphate and metallic copper projects located in Rio Grande do Sul, the southernmost state of Brazil. Aguia has an established and highly experienced in-country team based in Porto Alegre, the capital of Rio Grande do Sul. Aguia's first project, the Tres Estradas Phosphate Project is expected to bein production by Q1 2022. Aguia is committed to advancing its existing projects into production whilstcontinuing to pursue other opportunities within the sector.

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