Australia - Aguia Resources Limited (ASX: AGR) ('Aguia' or the 'Company') is pleased to announce that the Board of the Development Bank of Southern Brazil (Banco Regional de Desenvolvimento do Extremo Sul) (BRDE) has approved a loan to Aguia of A$3.75 million (R$15 million) for the purpose of CAPEX funding for the Tres Estradas Phosphate Project (TEPP).

This approval follows a letter of support received from BRDE in December 2020 after an extensive review of the TEPP by BRDE which confirmed that the project meets its investment criteria.

Tres Estradas Phosphate Project (TEPP) - Final Steps to Commence Construction Phase Combined with cash at bank of A$4.48 million as at 31 May 2021, the approval of this loan from BRDE gives Aguia sufficient capital to fund the A$7.37 million (A$8.11 million with contingency) CAPEX1 for construction of the TEPP. 2 Aguia is in the final stages of project land acquisition.

The receipt of the Installation Licence (LI) which gives the right to commence mine construction is dependent upon completion of the land acquisition. The Company anticipates being able to provide a comprehensive update on land acquisition shortly with the majority of land purchases completed.

Following receipt of the LI, construction is expected to take 6 - 8 months followed by first production which is anticipated to occur during Q1 2022 based on receiving the necessary approvals and the timeframe to order long lead time items.

Managing Director Dr. Fernando Tallarico commented: 'BRDE's funding support is a major vote of confidence in Tres Estradas and a key milestone that we have met to deliver the project into production. This is a straightforward loan that gives Aguia additional financial capacity to fund the CAPEX for the TEPP. I commend the whole Aguia team on the work undertaken to receive approval and look forward to working further with BRDE as a key stakeholder that clearly recognises the value that Aguia can deliver by bringing into production Southern Brazil's phosphate mining and processing operation. We reiterate that we have excellent support for the project from within RS State, Federally and of course amongst the local community where we are operating.'

'Finalisation of the necessary land acquisition continues, and we look forward to providing shareholders with an update regarding this in the near future as well as news of the LI granting which will allow us to move the project into construction phase.'

Contact:

Tel: +61 (0) 419 960 560

Email: investor.relations@aguiaresources.com.au

Web: www.aguiaresources.com.au

About Aguia

Aguia Resources Limited, ('Aguia') is an ASX listed multi-commodity company (AGR:ASX) with preproduction 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 be in production by Q1 2022. Aguia is committed to advancing its existing projects into production whilst continuing to pursue other opportunities within the sector.

JORC Code Competent Person Statements

The information in this report that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Dr. Fernando Tallarico, who is a member of the Association of Professional Geoscientists of Ontario. Dr. Tallarico is a full-time employee of the company. Dr. Tallarico has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Dr. Tallarico consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Caution regarding forward-looking information

This press release contains 'forward looking information' within the meaning of applicable Australian securities legislation. Forward looking information includes, without limitation, statements regarding the next steps for the project, timetable for development, production forecast, mineral resource estimate, exploration program, permit approvals, timetable and budget, property prospectivity, and the future financial or operating performance of the Company. Generally, forward looking information can be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur' or 'be achieved'. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including, but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; other risks of the mining industry and the risks described in the Company's public disclosure. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.

There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities law.

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