Fox River Resources Corporation announced that the JESA Technologies Hemi Di Hydrate (HDH) Process has successfully transformed the Martison phosphate concentrate to a high-quality Merchant Grade Phosphoric Acid (MGA). In Third Quarter 2023, a 600-kilogram sample of apatite concentrate was sent to the facilities of JESA Technologies in Lakeland, Florida USA for the production of phosphoric acid using the JESA Technologies Hemi- Dihydrate (HDH) process. The feed rate of the rock feed blend and sulphuric acid were calculated to be at a specific reactor volume of 2M3/t/d P2O5.

During the 160 hour continuous run, product samples of both the 40% P2O5 phosphoric acid and the gypsum were analyzed every three hours. The 40% P2O5 phosphoric acid was then concentrated to produce merchant grade acid (MGA). The clarification tests produced a low quantity of sludge.

Approximately 100 litres of MGA (54% P2O5) were produced for the purposes of testing its suitability for the production of purified phosphoric acid ("PPA") used in the lithium iron phosphate (LFP) battery markets. The PPA testing results are expected to be available by the end of Third Quarter 2024. The main results of the MGA tests are summarized below: The phosphate concentrate used in the pilot plant contained 36.64% P2O5 with a MER of 0.089.

The high-grade igneous concentrate was blended to assimilate the grade and MER, (level of impurities) used in the Preliminary Economic Study (PEA). Further grinding of the phosphate concentrate was not required. The operation of the pilot plant using the Martison phosphate rock was stable and quite easily operable in the JESA Technologies HDH process route.

Efficiency (P2O5 recovery) at the pilot unit is high and above 99%. The total phosphate content found in the gypsum produced is low at less than 0.2% P2O5. Overall plant sizing, including the two filters, will be relatively compact due to the good filtration rates obtained.

The MGA (54% P2O5) quality can be easily attained from the 40% P2O5 acid produced when processed using the JESA Technologies HDH process route. The MGA clarification tests produced very little sludge (0.68% solids w/w produced after 96 hrs). The sulphuric acid consumption used in the phosphate acidulation process was 2.46 tonnes, basis 100% H2SO4 per tonne of P2O5.

This is lower than most sedimentary deposits and produces an economic advantage due to lower sulphuric acid consumption. The quantity of calcium sulphate generated by the process is 4.55 tonnes dihydrate (DH) per tonne of P2O5 produced. The impact of the JESA Technologies HDH process route on the environment is low compared to other phosphoric acid processes.

This process produces a clean, low impurity, calcium sulphate (Gypsum). The calcium sulphate is of a quality that can possibly be used in the agriculture, construction, or cement industries. Further work will need to be conducted to confirm these markets.

The cadmium content is less than 2 ppm in the 40% P2O5 phosphoric acid and less than 3 ppm in the 54% P2O5 MGA. This is important because it will allow the production of fertilizer products that meet the most stringent European cadmium content regulations. The scientific and technical disclosure for Fox River Resources included in this news release have been reviewed and approved by Mr. James Byrd.

Mr. Byrd is a chemical engineer and a "Qualified Person" as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects and has verified the data disclosed in this news release.