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Arianne improves metallurgical process

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World Fertilizer,

Arianne Phosphate, a company in the development stage of the project of the Lac à Paul phosphate mine, in the Saguenay Lac-Saint-Jean region in Quebec, Canada, has announced that is has received favourable results from metallurgical tests carried out at COREM’s facilities in Quebec.

Trials conducted earlier in 2020, reported by Arianne, demonstrated the benefits of using a different collecting agent from NordChem, a Canadian company that provides custom products and reagents for industry. The results recently received from these tests demonstrated that Arianne could produce a phosphate concentrate containing on average 40.25% phosphorus pentoxide (P2O5) with varying recoveries between 91.1% and 93.2%. Combined with the speed with which this collector acts and the removal of certain other agents, this would result in cost savings in the production of the company’s high purity concentrate.

“Arianne continues to improve its Lac à Paul phosphate project,” said Jean-Sébastien, Chief Operating Officer of the company. “By partnering with groups such as COREM and NordChem, we are always looking for ways to improve our project. Currently, Arianne should already be among the cheapest producers of high purity phosphate concentrates and by making this change to our process we will be able to further reduce that cost. In addition, the National Research Council of Canada provided financial assistance for work associated with these tests as part of its Industrial Research Assistance Program (IRAP).”

Finally, Arianne also announced the granting of 400 000 options to certain directors and members of senior management. Each of the options allows its holder to purchase one common share of the company by 6 July 2030 at a price of CAN$0.21 per share, i.e. the closing price of the company's shares at the meeting preceding the date of the granting. The options are subject to a vesting period of 1 year, in accordance with the plan and policy and are subject to regulatory approval. The board's decision to grant options to the company's management and employees was made in recognition of the substantial cash wage cuts put in place in April 2020 in response to the COVID-19 crisis, an effort that will remain in place for the foreseeable future.

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