AguiaResources Ltd. said June 8 that it has signed an option agreementto acquire two exploration permits totaling 3,553 hectares, to be named SantaClara, adjacent to its flagship Tres Estradas phosphate project in Brazil.

The 36-month option deal includes a 60-day due diligence tobe conducted by the company.

In addition to several customary payments that fall due duringthe option period, Aguia is granting a 2% royalty on any production from theproperty, capped at US$10 million. The NSR can be bought back at any time forUS$5 million in five monthly installments.