Sydney, Australia - Aguia Resources Limited ABN 94 128 256 888 (ASX: AGR) ('Aguia' or the'Company') wishes to advise the market of a development in the Public Civil Action regarding theenvironmental licensing for the Tres Estradas Phosphate Project ('TEPP' or the 'Phosphate Project').As previously disclosed, the initial Federal Trial Court decision found that the Federal PublicProsecutor (FPP) had no standing to sue in the Federal Court because the Federal Court lackedjurisdiction to hear the case and consequently referred the case to the State Court of Lavras do Sul.

The FPP appealed against this decision.

The appeal has now been decided by the Federal Court of Appeals, which, following the vote of thereporting Justice that had previously granted a staying effect to such appeal, has decided to overturnthe initial Federal Trial Court decision, thus keeping the case in the federal court.The Federal Government's interest in the case stems from it having declared phosphate fertiliser tobe a strategic mineral' of upmost importance to the economy of Brazil and for food production. TheBrazilian Federal Government has declared that it plans to reduce Brazil's dependence on importedphosphate fertilisers by encouraging local phosphate fertiliser production. As announced on 13October 2021, Aguia's TEPP Phosphate Project has been recognised as being of strategic importanceby the Brazilian Government in accordance with this policy.

This means that the Public Civil Action will now once again be tried before the Federal Trial Court andthe Federal Government has now been granted the right to join the case as an interested party. Fiveassociations allegedly representing the traditional communities have also been granted the right tojoin the case in support of the FPP.Subsequently, the Federal Trial Court has ordered (i) that the associations comment on the injunctiverelief request presented by the FPP, and (ii) that the defendants, the FPP and the Federal Governmentprovide updated information on the issuance of the Installation Licence (LI) in 30 days.

Contact:

Aguia Resources Limited

Investor Relations

ABN: 94 128 256 888

Level 12, 680 George Street

Sydney NSW 2000

Australia

E: investor.relations@aguiaresources.com.au

P: +61 (0) 419 960 560

W: www.aguiaresources.com.au

About Aguia

Aguia Resources Limited, ('Aguia') is an ASX listed multi-commodity company (AGR:ASX) withpreproduction phosphate and metallic copper projects located in Rio Grande do Sul, the southernmoststate of Brazil. Aguia has an established and highly experienced in-country team based in Porto Alegre,the capital of Rio Grande do Sul. Aguia is committed to advancing its existing projects into productionwhilst continuing to pursue other opportunities within the sector.

Caution regarding forward-looking information:

This press release contains 'forward looking information' within the meaning of applicable Australiansecurities legislation. Forward looking information includes, without limitation, statements regarding thenext steps for the project, timetable for development, production forecast, mineral resource estimate,exploration program, permit approvals, timetable and budget, property prospectivity, and the future financialor operating performance of the Company. Generally, forward looking information can be identified by theuse 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', orvariations 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 andunknown 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 impliedby 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 themining industry and the risks described in the Company's public disclosure. Although the Company hasattempted to identify important factors that could cause actual results to differ materially from thosecontained in forward-looking information, there may be other factors that cause results not to be asanticipated, estimated or intended. There can be no assurance that such information will prove to beaccurate, as actual results and future events could differ materially from those anticipated in suchstatements. Accordingly, readers should not place undue reliance on forward looking information. TheCompany does not undertake to update any forward-looking information, except in accordance withapplicable securities law.

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