Itafos Inc. announced that it has filed an updated technical report for Itafos? Conda project, a vertically-integrated phosphate fertilizer project in Idaho (Conda Project). The Conda Technical Report demonstrates increased Mineral Reserves and the opportunity for continued operations at the Conda Project through 2037.

Technical report highlights for Conda Project: The mine schedule shows ore production for the Conda Project through 2037. The Mineral Resource estimate for Husky1-South Maybe Canyon (H1SMC) and North Dry Ridge (NDR) (collectively ?H1/NDR?) increased from 38.1 million short tons (dry) at ~24.3% - ~27.0% P2O5 to 40.5 million short tons (dry) at ~24.2% - 26.7% P2O5; The total estimated Mineral Reserves for Conda increased from 14.4 million short tons (dry) at ~26.6% P2O5 (as of July 1, 2019) to 33.7 million short tons (dry) at ~25.0% P2O5 (as of July 1, 2023); and The Rasmussen Valley Mine (?RVM?) block model did not change based on the results from reconciliation between the 2019 model estimates and the production results up to the effective date of the Conda Technical Report (July 1, 2023). The estimated remaining Mineral Resource after the effective date of July 1, 2023 is 5.9 million short tons (dry) at ~25.9% P2O5.

The estimated remaining Mineral Reserve after the effective date of July 1, 2023 is 4.3 million short tons (dry) at ~26.0% P2O5. The Conda Technical Report includes Mineral Reserve estimates for RVM and H1/NDR, all of which are wholly-owned by Itafos Conda. The Mineral Reserve estimates for these deposits were prepared by WSP and this news release is the initial public disclosure of such Mineral Reserve estimates.

The effective date for the Mineral Reserve estimate is July 1, 2023.