MBAC Receives Final Approval for Senior Debt Extension and Executes US$18.2 Million Working Capital Facility - Seite 2

Concurrent with the final approval of the Senior Debt Re-Profiling, MBAC entered into the Working Capital Facility of R$40 million (approximately US$18.2 million) with Banco Santander Brasil S.A. The Working Capital Facility has an interest rate of LIBOR+3.473% per annum and is secured by a second lien on the mineral rights and assets of Itafós and by a first lien on the shares and mineral rights of Araxá Mineração e Metalurgia Ltda. (the subsidiary company that holds the Company's Rare Earths/Phosphate Araxá Project in the State of Minas Gerais, Brazil).

"These two accomplishments represent major steps toward addressing our liquidity challenges, the main objective of the strategic action plan we unveiled earlier this year," said Mr. Cristiano Melcher. "Our primary focus will be on continuing to evaluate all strategic options, including pursuing additional financing options, ramping up production, streamlining costs and positioning MBAC as the phosphate supplier of choice in Brazil's agricultural heartland."

About MBAC

MBAC is focused on becoming a significant integrated producer of phosphate and potash fertilizers and related products in the Brazilian market. MBAC has an experienced team with significant experience in the business of fertilizer operations, management, marketing and finance within Brazil. In October 2008, MBAC acquired Itafós Mineração Ltda., which consisted of a phosphate mine, a mill and plant and related infrastructure, all located in central Brazil. Since late 2012, such operations have been phased out as the Company completed the construction of the Itafós Arraias SSP Project. The Santana Phosphate project is a high grade phosphate deposit located in close proximity to the largest fertilizer market of Mato Grosso State and animal feed market of Pará State. Further information on MBAC can be found on the Company's website at www.mbacfert.com and on SEDAR at www.sedar.com.

FORWARD LOOKING STATEMENTS

This press release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements related to activities, events or developments that the Company expects or anticipates will or may occur in the future, including, without limitation, statements related to the Company's business strategy, objectives and goals; the expectation of Itafós becoming a significant integrated producer of phosphate and potash fertilizers and related products in the Brazilian and Latin American markets; the expectation that the definitive documentation in connection with the Senior Debt Re-profiling will be executed within the next 30 days; the Company evaluating all strategic options including pursuing additional financing options; the expectation that it will ramp up operations and reach commercial production of 25,000 tonnes of SSP per month by the end of the current fiscal year; that costs will be streamlined and that MBAC will be positioned as the phosphate supplier of choice in the Brazil's agricultural heartland . Forward-looking statements are often identified by the use of words such as "plans", "planning", "planned", "expects" or "looking forward", "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or "belief", or describes a "goal", or variation 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 statements are based on a number of factors and assumptions made by management and considered reasonable at the time such statements are made, and forward-looking statements involve known and unknown risks, uncertainties and other factors may cause the actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. Such risk factors include, among others, the Company not being successful at becoming a significant integrated producer of phosphate and potash fertilizers and related products in the Brazilian and Latin American markets; the risk that definitive documentation in connection with the Senior Debt Re-profiling will not be executed within the next 30