Mr. David Delaney reports

ITAFOS ANNOUNCES NOTICE TO PROCEED FOR HUSKY 1/NORTH DRY RIDGE; SOLIDIFYING THE POTENTIAL FOR MINERAL RESOURCE LIFE THROUGH 2037(1)

Itafos Inc. has received the notice to proceed (NTP) for the Husky 1/North Dry Ridge (H1/NDR) mine development project. Upon receipt of the NTP, the company has begun capital activities associated with the mine development project. The H1/NDR project is expected to be internally financed and comprises primarily infrastructure and mine-related development, while continuing to utilize the Conda plant for processing and fertilizer production. Mineral resources from H1/NDR are expected in 2026, providing an uninterrupted supply as the Rasmussen Valley mine reaches the end of its useful life.

David Delaney, chief executive officer, commented: "The notice to proceed is the final approval step to allow us to achieve our strategic goal of extending Conda's mine life with H1/NDR. Itafos, and the Conda community, would like to thank the Bureau of Land Management, the U.S. Forest Service and all the other regulatory agencies for their diligent and collaborative work on this project. The Itafos team at Conda is quickly mobilizing resources and operations to begin the development of H1/NDR."

About Itafos Inc.

The company is a phosphate and specialty fertilizer company.

We seek Safe Harbor.