SOPerior Fertilizer Corp. announced it had entered into an Exclusivity Agreement with a counterparty with respect to a JV Agreement ("JV") for the development of its Blawn Mountain alunite asset, the counterparty has to-date paid USD 380,000 in non-refundable exclusivity payments to secure the JV transaction until the closing date which must occur before the end of Q2, 2022. If the JV is not closed by April 1, 2022, an additional USD 75,000 is due from the counterparty to extend the exclusivity.

Of the funds received from the counterparty, USD 150,000 was applied to the debt outstanding to Lind Asset Management VIII LLC and USD 104,000 was used to pay SITLA lease fees. The terms and conditions of the JV Agreement are unchanged from those outlined in the August 24, 2020 press release. JV Project The proposed JV's first phase commercial production facility and future expansion phases are to be constructed on the site of an existing copper processing operation.

The alunite ore will be trucked approximately 25 miles from the Blawn Mountain open pit quarry. Process engineering will commence immediately upon JV execution and it is anticipated that the facility can be built and online within 18 months of completing project FEED. Initial project phase anticipates production of 70,000 tons per year ("tpy") SOP, 140,000 tpy alumina and 150,000 tpy sulphuric acid for an estimated USD 150MM facility spend.

The actual production capacity will be determined once the process engineering work is completed. With three valuable commodities being produced from the processing of a single ore stream, the production costs of each individual product is projected to be lowest in class. Based on current prices with watersoluble SOP at approximately USD 900/ton, alumina at USD 450/ton*, and sulphuric acid at USD 200/ton, the gross revenues could be as high as USD 160 million USD/yr at the planned project scale** with operating costs projections of USD 36 million /yr **.

This initial project is but a fraction of the permitted mine capacity of 645,000 tpy SOP, 1.2 million tpy alumina and 1.4 million tpy sulphuric acid. Blawn Mountain Alunite Resource - 100 year potential reserve life of alumina, potash, and sulphuric acid The ore to be mined using simple surface mining operations is alunite. The processing of alunite yields three valuable products ­ alumina, "SOP", potassium sulphate fertilizer ­ a premium high value form of potash and sulphuric acid.

For every ton of SOP produced, approximately 2 tons of alumina and 2.15 tons of sulphuric acid are co-produced. The Blawn Mountain Alunite deposit represents the largest known potential nonbauxite source of alumina in the US. It was discovered in the 1970's in a search for nonbauxite sources for aluminum production as the US has negligible bauxite reserves and relies on imported bauxite and alumina in primary aluminum production.

The Company's Blawn Mountain Mining Lease comprises over 15,400 acres in the State of Utah.