Aguia Resources:Test Results Indicate CAPEX and OPEX Reductions for Três Estradas BFS

Brazilian fertilizer developer Aguia Resources (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. These recent results have delivered the information necessary to define the process flow diagrams, mass and energy balance, and most importantly, allow the Aguia engineering team to finalize the trade-off studies.

Aguia´s Head of Engineering Guilherme Jácome commented:

 “These crucial test work results and trade-off studies have provided us with precise information that allows us to implement material improvements to the entire production and process design at Três Estradas.

We expect that the result will be a more efficient and competitive production facility that will cost materially less to build and operate than we envisioned a year ago when we completed the PEA.”

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