Mr. Jed Richardson reports

TESTS CONCLUDE THE GQ BLENDS ARE A RECOMMENDED REPLACEMENT FOR IMPORTED CHEMICAL FERTILIZERS

Great Quest Fertilizer Ltd. is in receipt of the quantitative results from product trials conducted during the 2014/2015 growing season. As expected, the company's products continued to perform well generally, in line with and, in a number of cases, significantly outperforming the commercially available higher-priced imported chemical fertilizers.

• GQ35 NPK blends perform in line with DAP; recommended replacement;
• Isolated GQ27 performs in line with DAP; recommended replacement;
• GQ fertilizers outperform in residual impact; recommended use to restore soil health.

In head-to-head comparisons, the GQ products exceeded expectations. The Great Quest fertilizer products are semi-soluble fertilizers -- 71 per cent soluble in mild acid. Comparatively, chemical fertilizers are 100 per cent soluble in the same acids, meaning the full nutrient load is not expected to be available to plants that are fed using the GQ phosphate fertilizer. On average, the GQ fertilizers had 94 per cent of the yield of chemical fertilizer in directly comparable tests at 71 per cent of the measured solubility and 50 per cent of the expected market price. The study completed by the Institut d'Economic Rurale (IER), a division of the Ministry of Agriculture, analyzed crop response to multiple formulations of the GQ phosphate fertilizers, as crop dosage recommendations were analyzed. Presented in this release are all of the directly comparable results; other formulations will be made available on SEDAR.

The study comprised 49 agronomic trials covering the five major agro-ecological regions of Mali, where large-scale commercial agriculture occurs. For 2014/2015, six trials were added in the northern zones Tombouctou and Gao; and though only subsistence agriculture occurs in these areas, the company hopes to participate in agriculturally focused development programs in these areas. Tests were performed on Mali's most important crops, namely cotton, corn (maize), rice (irrigated, rain-fed and submerged varieties), millet, sorghum, cowpea (or black-eyed pea) and peanut.

The following results compare yields of the listed crops using 100-kilogram-per-hectare dosages of the most common fertilizer blend N15-P15-K15. The commercial blends using diammonium phosphate (DAP) for the contained phosphate (P) is compared with the GQ formulation using the company's processed direct application phosphate for all of the contained P. Both of the blends have identical concentrations of the nitrogen (N), phosphate (P) and potassium (K) nutrients.

The GQ35 formulations performed in line with the DAP blends, with particularly strong showings in rice, peanuts and wheat. Rice is the single most common crop grown in the country. Results concluded there is no statistical difference between the GQ35 and DAP yields, and the lower cost GQ product is a capable replacement for more expensive chemical imports.

         
       NPK BLENDS DAP VERSUS GQ35 -- 100 KG (15-15-15)

Crop             Region      DAP-NPK     GQ35-NPK       Relative
                              (kg/ha)      (kg/ha)   performance*

Corn             Bamako         2979         2907            98%
                 Koulikoro      3806         3493            92%
                 Sikasso        3379         2744            81%
Millet           Koulikoro      1900         1767            93%
                 Mopti           858         848             99%
                 Segou          1597         1424            89%
Peanut           Koulikoro      2563         2806           109%
Rice (irrigated) Gao            8150         7900            97%
                 Mopti          7500         6844            91%
                 Segou          5139         5310           103%
                 Sikasso        5026         3694            73%
Rice (rain fed)  Bamako         1553         1489            96%
                 Sikasso        2121         2423           114%
Rice (submerged) Gao            6460         6092            94%
                 Sikasso        1091         1060            97%
Sorghum          Bamako         1458         1469           101%
                 Kayes          1809         1460            81%
                 Koulikoro      2150         1550            72%
                 Segou          2576         2428            94%
                 Sikasso        1848         1563            85%
Wheat            Gao            2051         2274           111%

* Relative performance is expressed as a ratio of the
  yield from GQ35-NPK to that of DAP-NPK.

In the same way, blends for cotton were compared; however, commercial cotton growers use what is called complex cotton NPKSB 14-18-18-6-2, adding sulphur and boron to three major nutrients, at a concentration of 150 kilograms per hectare, compared with 100 kilograms per hectare used for other crops. Again, results concluded there is no statistical difference between the yields using GQ35 and DAP blends in what was a challenging year for cotton crops. When cost and residual impact are factored (reported in a separate attached table), evidence favours use of GQ35 blends.

     NPKSB BLENDS DAP VERSUS GQ35 -- 150 KG (14-18-18-6-2)
                                                            
Crop      Region      DAP-NPKSB      GQ35-NPKSB         Relative 
                         (kg/ha)         (kg/ha)     performance*

Cotton    Koulikoro        4570            4766             104%         
          Sikasso          1755            1365              78%   

* Relative performance is expressed as a ratio of the yield 
  from GQ35-NPKSB to that of DAP-NPKSB. 

Total average relative performance              94%

The following results compared the yields of 27-per-cent-phosphorus-pentoxide (P2O5) medium-grade granulated GQ phosphate (GQ 27 per cent) with market-available DAP. These trials were not quite equal owing to the Malian researchers mimicking the strategy of regional farmers, substituting available DAP fertilizer for the recommended fertilizer, supersoluable phosphate, which is not available in West Africa. Crops fed GQ 27 per cent received 27 kilograms of P nutrient and no N or K per hectare, and the crops fed DAP received 20 kilograms of P and seven kilograms of N.

Here, the GQ 27 per cent marginally outperformed the DAP; however, for the cowpea and peanut, nitrogen is not required soil nutrient, so the larger P dose should give the GQ an advantage.

      PHOSPHATE ISOLATED DAP VERSUS GQ 27% -- 27 KG NUTRIENT

Crop          Region        DAP     GQ 27%   Relative performance*

Cowpea         Kayes        1827      2050                   112%
               Segou        1688      1448                    86%
               Mopti         750       634                    85%
Peanut         Kayes        2428      3074                   127%
Sorghum        Kayes        1648      1723                   105%
Average
performance                                                  103%

* Relative performance is expressed as a ratio of the yield
  from GQ 27 per cent to that of DAP.

As a part of the study, the IER researchers investigated the residual impact of the fertilizer on crops planted on plots that had used the fertilizer the year before, but had no new fertilizer added for this growing season.

In these trials, the GQ fertilizers outperformed, dramatically so in the case of corn. This is expected given the semi-soluble nature of the fertilizer; this allows it to stay in the soil and be available for the next crop. It makes for a very compelling case for farmers to use the GQ formulations: lower upfront cost, equivalent yields in the first year and an opportunity for significant outperformance the longer they use the GQ product.

               
                      RESIDUAL IMPACT DAP VERSUS GQ

Crop                  Region     DAP-NPK  GQ35-NPK  Relative performance*

Cowpea after sorghum  Koulikoro     1938      2142                  111%
Corn after cotton     Sikasso       1406      2436                  173%

Crop                  Region         DAP    GQ 27%  Relative performance*

Sorghum after cowpea  Kayes         1972      1995                  101%
Sorghum after peanut  Kayes         1648      1723                  105%

* Relative performance is expressed as a ratio of the yield
 from GQ35NPK to that of DAP NPK.

Dr. Lamine Traore, agronomist and microbiologist, research program lead from IER, concluded: "The results of this year's trials have demonstrated yet again that the granulated fertilizer products GQ 27 per cent and GQ35-NPK have similar yields to those of the commercially available fertilizers right from the first year of application. The low coefficient of variation observed in the results from region to region where the products were tested is an indication of the consistent efficiency of the Great Quest products."

Commenting, Jed Richardson, president and chief executive officer of Great Quest, stated: "These results reaffirm our belief in the strength of our product. The GQ blends are well poised to provide farmers in Mali and the subregion with a cheaper alternative that matches the performance of expensive imported fertilizers, with an expectation of exceeding that performance for certain crops in some regions, while repairing soil poverty for future crops. Food security is an acute problem in the region, and the results indicate that GQ blends may very well become part of the solution."

The technical information in this press release has been reviewed and approved by Louis J. Eskteen, fellow of the South African Institute of Mining and Metallurgy (SAIMM), a qualified person as defined by National Instrument 43-101. Mr. Esksteen is a consulting engineer to the company. He completed his BEng in extractive metallurgy at North West University in South Africa and has worked on several process management projects in Africa.

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