Australia - Aguia Resources Limited ABN 94 128 256 888 (ASX: AGR) ('Aguia' or the 'Company') is pleased to report that consent from the National Historical and Artistic Heritage Institute ('IPHAN') for the Tres Estradas Phosphate Project ('TEPP') environmental licence has been granted.

Following the filing of the mandatory environmental programs with the Rio Grande do Sul State Environmental Agency ('FEPAM') in early January 2021, Aguia conducted an archaeological survey to assess the impact of the TEPP on the local archaeological heritage as part of the permitting process for Phase 1 of the TEPP.

The granting of consent on the Preliminary Licence ('LP') by IPHAN is a requirement for the granting of the Installation Licence ('LI'). Aguia engaged well-respected archaeological consulting company A Lasca Arqueologia ('A Lasca') to conduct a survey over the project area and to prepare a Report on the Impact Assessment on Archaeological Heritage ('RAIPA').

The field survey was conducted by three archaeologists from A Lasca over 5,543 hectares corresponding to the Direct Influence Area of the project ('AID') which includes the Directly Affected Area ('ADA') of the TEPP. According to Normative Instruction IN-01/2015 of IPHAN, the survey of primary data should cover only the ADA. Aguia elected to perform a wider and more complete survey over the entire AID.

As a result of the Aguia's efforts, 29 archaeological sites were mapped, of which three are inside the Phase 1 ADA. One archaeological site was classified as lithic, one as lithic and historic, and one as a historic site.

In May 2021, Aguia filed the RAIPA with IPHAN, including a complete description of the work undertaken and the approval has now been granted together with consent to the LP for TEPP Phase

The Company must now present a Program to execute the archaeological excavation and collection of the lithic material from those sites inside the Phase 1 ADA. This material will then be sent to the University of Rio Grande do Sul that will be responsible for the storage and maintenance of our findings. Management Commentary Managing Director Dr. Fernando Tallarico said: 'This archaeology program is an important body of work in the permitting process for our TEPP. It is pleasing to be able to return these findings to the local community and to contribute to the preservation of the history and legacy of the Pampa culture. Preserving the culture and traditions of our local community is exceptionally important to Aguia.'

'We also confirm that Aguia's legal team is now preparing its defence with respect to the proceedings brought by a Federal Public Prosecutor (FPP) in relation to the granting on the TEPP's LP. This defence will be filed by 18 August 2021. Despite these proceedings, Aguia continues to advance work streams to advance the TEPP as well as progressing a much more active work program to add value to our portfolio of highly prospective copper assets.'

Contact:

Tel: +61 (0) 419 960 560

Email: investor.relations@aguiaresources.com.au

Web: www.aguiaresources.com.au

About Aguia

Aguia Resources Limited, ('Aguia') is an ASX listed multi-commodity company (AGR: ASX) with pre-production phosphate and metallic copper projects located in Rio Grande do Sul, the southernmost state of Brazil. Aguia has an established and highly experienced in-country team based in Porto Alegre, the capital of Rio Grande do Sul. Aguia's first project, the Tres Estradas Phosphate Project is expected to be in production by Q1 2022. Aguia is committed to advancing its existing projects into production whilst continuing to pursue other opportunities within the sector.

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