Agrimin Limited updated Mineral Resource estimate for the Mackay Potash Project in Western Australia. The Mackay Potash Project is situated on Lake Mackay in Western Australia. Agrimin is currently completing a Definitive Feasibility Study ("DFS") for the project, which is scheduled for second quarter-2020. Lake Mackay's hydrogeological setting and favourable brine chemistry provide important attributes that support the development of a globally significant SOP operation. Lake Mackay is the known potash-bearing salt lake in Australia covering an area of approximately 3,500km. The salt lake is comparable in size to the two major sources of primary SOP production, being the 4,400km Great Salt Lake in the USA and the 5,500km2 Lop Nur (Luobupo operation) in China. The Pre-Feasibility Study ("PFS") for the Mackay Potash Project was completed in May 2018. The project is based on the extraction of shallow brine-hosted potash from infiltration trenches across Lake Mackay. The brine will be transferred through a series of solar evaporation ponds with the precipitated potash-rich salts being wet harvested and pumped to the Lake Mackay Processing Plant. The PFS is designed for a production capacity of 426,000tpa of SOP. All production is planned to be shipped through the Company's Wyndham Port Facility to world markets. Mineral Resource Estimate: The drainable porosity (or specific yield) Mineral Resource contains 123 million tonnes ("Mt") of SOP to a maximum depth of 211m. This drainable porosity Mineral Resource represents the static free-draining portion of the total porosity Mineral Resource prior to extraction. It does not take into account any groundwater recharge which could increase the amount of extractable brine over the life of an operation. The project area has an average annual rainfall of 320mm and the brine resource commences only 50mm below the lakebed surface. The total porosity Mineral Resource contains 1,096Mt of SOP to a maximum depth of 211m. A portion of the total porosity Mineral Resource, in addition to the drainable porosity Mineral Resource, may be extractable depending on the transient groundwater flow and transport conditions affecting the brine resource during extraction and the active recharge regime within the lake system. This recharge is particularly relevant to the upper zone of the Mineral Resource. A substantial portion of the lower zone total porosity Mineral Resource may not ultimately be extracted. Groundwater recharge by rainfall and runoff, and associated flow and transport processes, are being assessed as a component of the dynamic hydrogeological modelling being undertaken by Stantec. These models will be used to determine the Ore Reserve and DFS mine plan. The Mineral Resource is based on the dimensions of the salt lake sediments, the variations in porosity (void space) and the potassium grade within the groundwater. An understanding of the physical properties of the lakebed sediments and the overall aquifer hydraulics is important when assessing extractability of the Mineral Resource. Mineral Resource Estimation ­ Data Sources and Limitations: The updated Mineral Resource estimate of January 2020 ("Mineral Resource") supersedes any previous Mineral Resource estimates for the Mackay Potash Project. The Mineral Resource is based on the following: The Mineral Resource area is defined by the limit of the Company's tenements, with the Mineral Resource not extending off the lake surface where tenements cover more than the lake area. The Mineral Resource area includes the Company's tenement applications in the Northern Territory, however the Mineral Resource within these areas have been classified as Inferred. The Mineral Resource is further constrained by basement topography that unconformably underlies the lakebed sediments. A light detection and ranging survey ("LiDAR") survey and digital elevation model was used to apply elevations to drill holes, which have only been located with hand-held GPS. The LiDAR survey data covered the extents of the Company's tenements in Western Australia. Mineral Resource Estimation ­ Geological Model and Methodology: The Resource model is a 2D grid model compiled using MineSightTM software (v15.60-1), formally known as Hexagon Mining MinePlanTM software, and developed using metric Universal Transverse Mercator Zone 52 co-ordinates and elevations reported above mean sea level ("AMSL"). The model layers are grouped into two main zones, the Upper Zone ("UZ") and a Lower Zone ("LZ"). Procedures followed in the construction of the grid model and estimation approch are summarised as follows: The model is setup to cover the entire footprint of Lake Mackay covering a rectangular space of 104.8km2 (East) by 83.6km2 (West). A grid node spacing of 200m by 200m was selected to capture the necessary topographic and grade resolution, plus other physical parameters, that would support mine planning studies for SOP production for the DFS. Outputs from the model are 2D grid estimates of model parameters and include topographic surfaces, brine aquifer physical properties, and brine grade ("mg/l") for each Mineral Resource zone. The extents of the Company's tenements for Western Australia and application areas in the Northern Territory, as well as development area, islands and lake extents have been coded into the grid nodes using binary codes (1=IN, 0=OUT). Islands less than 1 hectare in area are too small to be coded in the model. These small islands (i.e. <1 hectare) are included in the Resource and are considered non-material given the scale of the Mineral Resource area.