Update on Santa Barbara gold project

Aguia Resources Limited (ASX:AGR) is pleased to provide an update on the 100%-owned Santa Barbara gold project located in Bolivar Department, Colombia. The company has appointed an experienced Mine Manager, Oscar Garcia Alvarez, and commenced purchasing capital equipment for underground development operations and processing plant upgrade.

Executive Chairman's comments on project development

Aguia's Santa Barbara gold project is expected to re-commence with underground exploration and development in the fourth quarter of this year. It is the Company's aim to continue with the development activities and to replicate the achievements from the earlier trial mining phase where Baroyeca reported impressive high-grade recoveries of gold. Aguia is well-funded following recent capital raisings and we will continue to update shareholders on progress as we advance Santa Barbara into development.

Summary of project update and outlook

Aguia Resources Limited (ASX:AGR) has made significant progress in advancing the Santa Barbara gold project with the appointment of an experienced Mine Manager and the purchase of necessary equipment for underground operations and processing plant upgrade. The company aims to re-commence underground exploration and development in the fourth quarter of this year, building on the earlier trial mining phase's high-grade gold recoveries. With a well-funded position, Aguia is focused on advancing Santa Barbara into development and will continue to update shareholders on the project's progress.