US$1.98 Billion NPV & US$3 Million Capex (Phase 1)

US$1.98 Billion NPV & US$3 Million Capex (Phase 1)

Pre-Feasibility Study for the expansions of Super Greensand® production is

TORONTO, Nov.  27,  2017 (GLOBE  NEWSWIRE)  -- Verde  AgriTech  Plc  (TSX:NPK) 
(OTCQB:AMHPF) ("Verde” or the “Company”) is pleased to announce the conclusion
of a Pre-Feasibility  Study (“PFS”) for  the expansions to  the ongoing  Super 
Greensand^® production. The PFS was  prepared by BNA Mining Solutions  (“BNA”) 
and Andes Mining Services  Ltd. (“ANDES”) with  inputs from technical  studies 
completed by  other consultants  on Verde's  Cerrado Verde  Project  ("Cerrado 
Verde" or the "Project") located in Minas Gerais State, Brazil.

The PFS evaluated the technical and financial aspects of producing 25  million 
tonnes per year (“Mtpy”) of Super Greensand^®, divided in three phases:  Phase 
1 (0.6Mtpy);  Phase 2  (5Mtpy) and  Phase 3  (25Mtpy). The  proposed  scalable 
development is predicated on expansions being financed largely from  projected 
internal cash flow.

Project Highlights:

  o Proven and Probable Reserves of 777.28 million tonnes, grading 9.78%
  o Capex for Phase 1 is estimated at US$3.05 million.
  o Capex for the Project is estimated at US$369.53 million.
  o Sustaining Capital for the Project is estimated at US$222.26 million.
  o Estimated after-tax Net Present Value (“NPV”) for the Project, using an 8%
    discount rate, of US$1,987.97 million.
  o Estimated after-tax Internal Rate of Return (“IRR”) of 290%.
  o Adopted Potassium Chloride (“KCl”) long term price of US$250 CFR Brazil as
    reference for Super Greensand^® pricing.
  o Estimated Operating Cost of US$14.53, US$6.77, US$7.92 per product tonne
    for Phases 1, 2 and 3 respectively.

World Food  Prize winner  and  Verde’s director  Mr Alysson  Paolinelli  said: 
“Tropical agriculture requires slow release fertilizers like Super Greensand^®
rather than highly water soluble chemical fertilizers developed for  temperate 
climates with short growing seasons. In Brazil, for example, farmers can  have 
up to  3  harvests per  year  and  Super Greensand^®  will  bring  everlasting 
benefits to the environment as well as food and nutrition security.

The PFS is based on the following assumptions:

  o 100% equity.
  o Phase 1 production of 0.6 Mtpy; Phase 2 production of 5 Mtpy; Phase 3
    production of 25 Mtpy.
  o A projected mine life of 36 years.
  o Contract Mining.
  o A 15% contingency applied to Capex.
  o US Dollar-Brazilian Real exchange rate of US$1 = R$3.28.
  o Potassium Chloride (“KCl”) long term price of US$250 CFR Brazil as
    reference for Super Greensand^® pricing.

Capital Costs

A summary of expected capital costs is presented in Table 1.

Table 1 Capital Costs Summary
Capital Costs    Phase 1  Phase 2   Phase 3
                 Investment (US$x1,000)
Processing Plant 1,294    8,721     143,518
Infra-structure  884      5,258     145,427
Owner’s Cost     478      933       14,815
Contingency      398.32   2,236.69  45,564
Total            3,053.80 17,147.98 349,324

Operating Costs

Operating costs per ton  of Super Greensand^® produced  over the life of  mine 
are displayed  on  Table 2.  Costs  associated  with mining  comprise  55%  of 
operating costs, processing 19%, and G&A 3% on Phase 1. The per ton break-down
of operating cost by Phase is as follows: 

Table 2 Operating Costs Summary
Operating Costs                   Phase 1        Phase 2        Phase 3
                                  US$ per Product Tonne
Mining                            7.98           3.48           4.90
Processing                        2.74           1.36           1.04
General and Administrative        0.50           0.50           0.50
Others*                           1.41           0.55           0.45
Contingency                       1.90           0.88           1.03
Total                             14.53          6.77           7.92
*Others: Mining Labour, Environmental Recovery, Environmental Compensation and
Support Facilities Maintenance

Mineral Reserves

A large  portion of  the  Measured and  Indicated  mineral resource  has  been 
successfully converted  to  an initial  Proven  and Probable  Mineral  Reserve 
totalling 777.28 million tonnes, at 9.78% content of K[2]O, for a total of  76 
million contained tonnes of K[2]O.

The tonnes, grades, and classification of the Mineral Reserves are  summarized 

Table 4 Mineral Reserve Summary
Classification                 Tonnes (Mt)              K[2]O (%)
Proven                         68.11                    10.34
Probable                       709.17                   9.72
Total                          777.28                   9.78
(1) As of November 27, 2017.
(2) A cut-off grade of 8.50% K[2]O was used to report reserves.
(3) Numbers may not add up due to rounding.
(4) Overall strip ratio of 0.29
(5) Waste contains inferred resources, which have potential for upgrading to
higher category resources, and possibly reserves after sufficient definition
work has been completed.
(6) Based on 100% mining recovery.

Mineral Resources 

This Mineral Resources estimated by the PFS are.

Table 5 Mineral Resources Summary
Category              Tonnes (Mt)           Average Grade (% K[2]O)
Measured              83                    10.13
Indicated             1,389                 9.23
Total (M+I)           1,472                 9.28
Inferred              1,850                 8.60
(1) Mineral resources are not mineral reserves and do not have demonstrated
economic viability.
(2) CIM Definition Standards were followed for classification of Mineral
(3) Mineral Resources are reported at a cut-off grade of 7.5% K[2]O.
(4) Bulk density of 2.18 t/m^3 for fresh rock material and 1.64 t/m^3 for the
weathered material.

Super Greensand^® Pricing

Super Greensand^®’s  price  is  based exclusively  on  its  potassium  content 
despite of its other nutrients and  benefits. Super Greensand^® has 10%  K[2]O 
whereas the cheapest source of potash, i.e. KCl has 60% K[2]O. Therefore,  the 
farmer in Brazil pays an average of 6 times less per ton of Super  Greensand^® 
than it pays per ton of KCl.

The table below illustrates pricing for phase 1

Table 6 Average Super Greensand^®’s price at Phase 1 X KCl - (USD)
                                     Super Greensand^®    KCl
K[2]O Content                        10%                  60%
Average CFR (Farm) Price             $57.67               $346.00 
Average Transportation cost to farm  $19.52               $12.00 
Average FOB (Vendor) Price           $38.15               $334.00 
CFR (Port) Price                     Not Applicable       $250.00 

The difference in price between CFR (Port) and FOB (vendor) is presented

Table 7 Difference in price between CFR (Port) and FOB (vendor) - (USD)
Item                                                 Cost
Brazilian port costs                                 $17.00
Demurrage                                            $3.00
AFRMM^1 Tax                                          $5.00
Cost of transportation Brazilian port - dealer       $29.00
Average margin added by the dealer                   $30.00
Total                                                $84.00

For Phases 2 and  3 the average  FOB Price realized  decreases as the  Company 
increases its sales  to agriculture regions  more distant from  its mine.  The 
average net sales prices are US$38.15 (phase 1); US$35.17 (phase 2);  US$25.10 
(phase 3).

The CFR Brazil (Port) KCl price  adopted was US$250, which corresponds to  the 
lowest long-term  price estimated  by analysts  at major  Canadian banks.  The 
current price  is US$263.  The lowest  price  since 2010  was US$225  and  the 
highest price was US$520.

Super Greensand^® is a premium multi  nutrient product free of chloride,  free 
of salinity and approved for organic agriculture. In addition to Potash it has
Magnesium, Manganese, Iron, Silicon and 60 other minerals and trace  elements. 
Its pricing  could be  superior  if based  on  other Chloride  free  potassium 
fertilizers such  as  Potassium Sulphate,  Nitrate  of Potash  or  Polyhalite, 
however, the Company has decided to  grant all those additional nutrients  and 
benefits to farmers in  exchange for a faster  market development and  broader 
market adoption.

Brazilian Potash Market

Brazil is the world’s largest food  exporter but the country imports over  95% 
of its current potash needs.

Table3 Historical Brazilian K[2]O consumption x Super Greensand^® equivalent
              Brazilian K[2]O consumption*         Super Greensand^®
2010          3.894.088                            38.940.880
2011          4.430.526                            44.305.260
2012          4.843.592                            48.435.920
2013          5.094.069                            50.940.690
2014          5.394.660                            53.946.600
2015          5.162.465                            51.624.650
2016          5.728.415                            57.284.150
*Source: Associação Nacional para Difusão de Adubos (ANDA), 2017.

In 2016, Brazil consumed 5.7Mt of K[2]O, the equivalent of a potential of 57Mt
of Super Greensand^®. According to the production phases, Cerrado Verde  would 
be able to supply the Brazilian potash  market in 1.05% during Phase 1;  8.77% 
during Phase 2 and 43.85% during Phase 3 considering no growth to the  current 

Technical Disclosure

Dr Beck  Nader. (D.Sc.,  M.Sc., MAIG),  BNA Mining  Solutions’ principal,  has 
reviewed and approved  the scientific and  technical information contained  in 
this news release. Dr Nader is a Qualified Person (“QP”) within the meaning of
Canadian Securities Administrator's National Instrument 43-101 ("NI 43-101").

The Pre-Feasibility Study has been prepared  by the following QPs: Mr  Bradley 
Ackroyd (MAIG  (C.P.)) who  is  a principal  consulting geologist  with  Andes 
Mining Services  Ltd.  and Dr  Beck  Nader. (D.Sc.,  M.Sc.,  MAIG), who  is  a 
principle at BNA Mining Solutions

The Company expects to file a technical report prepared in accordance with  NI 
43-101 on SEDAR at within 45 days of the date of this release.

Cautionary Language and Forward Looking Statements

All Mineral Reserve and  Mineral Resources estimates  reported by the  Company 
were estimated in accordance with the Canadian National Instrument 43-101  and 
the  Canadian  Institute  of  Mining,  Metallurgy,  and  Petroleum  Definition 
Standards (May  10,  2014).  These standards  differ  significantly  from  the 
requirements of the U.S. Securities and Exchange Commission. Mineral Resources
which are not Mineral Reserves do not have demonstrated economic viability.

This document  contains "forward-looking  information" within  the meaning  of 
Canadian securities legislation  and "forward-looking  statements" within  the 
meaning of the United States Private Securities Litigation Reform Act of 1995.
This information and these statements, referred to herein as  "forward-looking 
statements" are  made  as  of  the  date  of  this  document.  Forward-looking 
statements relate to future events  or future performance and reflect  current 
estimates, predictions, expectations  or beliefs regarding  future events  and 
include, but are not limited to, statements with respect to:

i. the estimated amount and grade of Mineral Resources and Mineral Reserves;
ii. the PFS representing a viable development option for the Project;
iii. estimates of the capital costs of constructing mine facilities and
     bringing a mine into production, of sustaining capital and the duration
     of financing payback periods;
iv. the estimated amount of future production, both produced and sold; and,
v. estimates of operating costs and total costs, net cash flow, net present
   value and economic returns from an operating mine.

Any  statements  that   express  or  involve   discussions  with  respect   to 
predictions, expectations, beliefs, plans,  projections, objectives or  future 
events or performance (often, but not  always, using words or phrases such  as 
"expects",  "anticipates",  "plans",  "projects",  "estimates",   "envisages", 
"assumes", "intends", "strategy", "goals", "objectives" or variations  thereof 
or stating that certain  actions, events or  results "may", "could",  "would", 
"might" or "will" be taken,  occur or be achieved, or  the negative of any  of 
these terms and similar expressions) are not statements of historical fact and
may be forward-looking statements.

All forward-looking  statements  are  based on  Verde's  or  its  consultants' 
current beliefs as well  as various assumptions made  by them and  information 
currently available to them.  The most significant  assumptions are set  forth 
above, but generally these assumptions include:

i. the presence of and continuity of resources and reserves at the Project at
   estimated grades;
ii. the geotechnical and metallurgical characteristics of rock conforming to
    sampled results; including the quantities of water and the quality of the
    water that must be diverted or treated during mining operations;
iii. the capacities and durability of various machinery and equipment;
iv. the availability of personnel, machinery and equipment at estimated prices
    and within the estimated delivery times;
v. currency exchange rates;
vi. Super Greensand^® sales prices and exchange rate assumed;
vii. appropriate discount rates applied to the cash flows in the economic
viii. tax rates and royalty rates applicable to the proposed mining operation;
ix. the availability of acceptable financing under assumed structure and
x. anticipated mining losses and dilution;
xi. reasonable contingency requirements;
xii. success in realizing proposed operations;
xiii. receipt of permits and other regulatory approvals on acceptable terms;
xiv. the fulfilment of environmental assessment commitments and arrangements
     with local communities.

Although management  considers these  assumptions to  be reasonable  based  on 
information currently available to  it, they may prove  to be incorrect.  Many 
forward-looking statements are made assuming the correctness of other  forward 
looking statements, such as statements of net present value and internal rates
of return, which are based on most of the other forward-looking statements and
assumptions herein.  The  cost  information is  also  prepared  using  current 
values, but the time for incurring the costs  will be in the future and it  is 
assumed costs will remain stable over the relevant period.

By their very  nature, forward-looking statements  involve inherent risks  and 
uncertainties, both  general and  specific, and  risks exist  that  estimates, 
forecasts, projections  and  other  forward-looking  statements  will  not  be 
achieved or  that assumptions  do not  reflect future  experience. We  caution 
readers not to place undue reliance  on these forward-looking statements as  a 
number of  important  factors  could  cause  the  actual  outcomes  to  differ 
materially from the beliefs,  plans, objectives, expectations,  anticipations, 
estimates  assumptions  and  intentions  expressed  in  such   forward-looking 
statements. These risk factors  may be generally stated  as the risk that  the 
assumptions and  estimates  expressed above  do  not occur  as  forecast,  but 
specifically include, without limitation: risks relating to variations in  the 
mineral content  within  the  material identified  as  Mineral  Resources  and 
Mineral Reserves  from that  predicted; variations  in rates  of recovery  and 
extraction; the  geotechnical characteristics  of the  rock mined  or  through 
which infrastructure is built differing  from that predicted, the quantity  of 
water that will need to be diverted or treated during mining operations  being 
different from what is expected to be encountered during mining operations  or 
post closure, or the rate of  flow of the water being different;  developments 
in world metals markets; risks relating to fluctuations in the Brazilian  Real 
relative to  the  Canadian dollar;  increases  in the  estimated  capital  and 
operating costs or unanticipated costs; difficulties attracting the  necessary 
work force; increases in  financing costs or adverse  changes to the terms  of 
available financing,  if  any;  tax  rates or  royalties  being  greater  than 
assumed; changes in development or mining plans due to changes in  logistical, 
technical or other factors; changes in project parameters as plans continue to
be refined;  risks relating  to  receipt of  regulatory approvals;  delays  in 
stakeholder negotiations; changes in regulations applying to the  development, 
operation, and closure of  mining operations from  what currently exists;  the 
effects of competition in the markets in which Verde operates; operational and
infrastructure risks  and the  additional risks  described in  Verde's  Annual 
Information Form filed with SEDAR in Canada (available at )  for 
the year ended December  31, 2016. Verde cautions  that the foregoing list  of 
factors that may affect future results is not exhaustive.

When relying on our forward-looking statements to make decisions with  respect 
to Verde, investors and others should carefully consider the foregoing factors
and other  uncertainties and  potential events.  Verde does  not undertake  to 
update any forward-looking  statement, whether  written or oral,  that may  be 
made from time to time by Verde or on our behalf, except as required by law.

About Verde AgriTech

Verde AgriTech  promotes sustainable  and profitable  agriculture through  the 
development of its Cerrado Verde Project. Cerrado Verde, located in the  heart 
of Brazil’s largest  agricultural market,  is the source  of a  potassium-rich 
deposit  from  which  the  Company  intends  to  produce  solutions  for  crop 
nutrition, crop protection, soil improvement and increased sustainability.

                  For additional information please contact:

            Cristiano Veloso, President & Chief Executive Officer
             Tel: +55 (31) 3245 0205; Email:

1 Additional to the Freight for the Merchant Navy Renewal. It is an additional
charge on freight charged by Brazilian and foreign shipping companies
operating in the Brazilian port, according to the bill of lading and the cargo
manifest. It concerns long-haul navigation, cabotage, river and lake
navigation, when dealing exclusively with the transportation of cargoes of
liquid bulk transported in the North and Northeast regions.

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