HIPO Resources Limited announced that representatives from African Minerals Ventures Ltd. ("AMV"), its farm-in partner to the Busumbu Phosphate Project ("Busumbu") in Uganda, have this month concluded a site visit in preparation for a fully-funded exploration program next quarter and further project development initiatives. As previously reported, HIPO secured AMV as a farm-in partner for Busumbu resulting in HIPO retaining 24% of the project and being free-carried for the first USD 3 million spent on exploration and project development. AMV's team, including Consulting Geologist Helen Salmon and Company Directors Eyjólfur Vilhjálmsson and Vilhjamur Eyjolfsson, visited the site to assess geology, infrastructure, development options, and the project's role in increasing fertiliser production to supply Uganda's burgeoning agricultural market. As part of the site visit, rock and soil samples were taken and assays are expected shortly (Figures 1, 2 and 4). Previous sampling and exploration confirmed the presence of extensive phosphate, as are rare earth elements (REE), niobium and copper. The visit also provided an opportunity for the AMV representatives to meet the Community Relations Officer (CRO), which is essential to preserving good working relationships with the local community. Busumbu has a history of high-grade phosphate discoveries, with a six-hole diamond drill program completed in 2012 by Gulf Industrials Limited, noting the presence of hard and soft phosphates. Results include: 35.4m @ 25.8% P2O5, hole ND03 from 4.7m, 16.6m @ 19.5% P2O5, hole ND13 from 17.5m, 26.9m @ 19.2% P2O5, hole ND13 from 35.1m, 29.2m @ 25.1% P2O5, hole ND43 from 7.0m, 12.5m @ 23.9% P2O5, hole ND55 from 24.0m, and 59.2m @ 18.2% P2O5, hole ND57 from 5.2m. Pending updates: Details from AMV of a full works program for Busumbu. An update on progress from Next-Battery in which HIP holds a 25% interest. A report from a now completed site visit and sampling program at the Kamola lithium project, DRC. Other complementary project opportunities HIP is assessing. Busumbu is located on the Busumbu ridge ~3km east of the Namekara Vermiculite Mine and on the existing Mining License. Exploration work was completed by Gulf Industrial Limited in 2011-12. On 15 June 2018, the Company announced that it had secured a farm-in partner for its Busumbu Phosphate Project in Uganda that will result in BMZ retaining 24% of the project and being free carried for the first $3m spent of exploration and development. Under the terms of the farm-in, HIP significantly and materially reduces any financial contribution to the exploration and development of the project for the first USD 3 million spent, with the Company still retaining a significant stake in the asset for no upfront spend.