MBAC Fertilizer Corp. Significantly Expands Resource Estimate by 113% and Increases Grade for the Itafos Phosphate Project

MBAC Fertilizer Corp. (TSX:MBC) reported a new National Instrument 43-101 compliant Mineral Resources Estimate for the Itafós Phosphate Project as of July 16, 2010, which is an update of those mineral resources previously reported on April 12, 2010.

The press release is quoted as saying:

The Report presents the results of a comprehensive independent evaluation of mineral resources for Itafós prepared under the coordination of Callum Grant from Wardrop, a Qualified Person under NI 43-101. It indicates measured and indicated resources totalled 58.8 million tonnes at an average 5.01% P2O5 and an additional inferred resource of 24 million tonnes at an average 5.3% P2O5. This new resource estimate represents an increase of approximately 113% in measured and indicated resources since the April report and a grade increase of over ten per cent.

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