“A potash solution for Brazil’s Growing Potash Problem”
Projects

The Company has received an independent resource estimate for its 100% owned Calcario Limestone Project located in Minas Gerais State, Brazil. The resource includes 89 million tonnes in the indicated category at an average grade of 54.71% CaO and 180 million tonnes in the inferred category at an average grade of 54.7% CaO (no cut-off applied).

The initial resource comprises the Calcario targets with a total of 15 vertical holes drilled with drill hole spacing ranging from 200m to 400m, totaling 1,395m of drilling. The drilling was completed following a grid pattern over an area of 275 hectares. All current resources are indicated and inferred as defined by the Canadian Institute of Mining guidelines for resource reporting.


The resource estimate is reported below in Table 1 using no cut-off grade:


Table 1 – Grade Tonnage Report Calcario Project

Inverse distance Weighted to Power two (IDW2) estimate (Block Model - 50mE X 50mN X 10mRL)

(no cut off utilised)

Category

Tonnage (Mt)

SiO2

%

CaO

%

K2O

%

P2O5

%

Al2O3

%

Fe2O3

%

MgO

%

TiO2

%

MnO

%

Indicated

89

1.08

54.71

0.06

0.06

0.28

0.11

0.56

0.03

0.02

Inferred

180

0.98

54.65

0.05

0.06

0.25

0.11

0.54

0.03

0.02

Note: Appropriate rounding has been applied


The Calcario Limestone project is located within the Bambuí meta-sedimentary group of rocks which host the company's Cerrado Verde Potash Project located approximately 100 km away by road. The limestone is characterized by a dolomitic limestone overlaying a darker calcitic limestone unit; it is over 50m thick and has been defined by drilling over a 4km strike. The fine-grained limestone is characterized by a low silica content.

The full detailed report is disclosed on SEDAR or can be downloaded here.

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