Mr. Jean-Sebastien David reports

ARIANNE PHOSPHATE IMPROVES METALURGICAL PROCESS

Arianne Phosphate Inc. has received favourable results from recently conducted metallurgical tests performed at Corem Labs in Quebec City, Canada.

In tests run earlier this year, Arianne weighed the benefits of using a different collector agent sourced from NordChem, a Canadian-based company that provides tailor-made chemicals to the mining industry. Results recently received from these tests demonstrated that Arianne could produce a phosphate concentrate averaging 40.25 per cent P2O5 with recoveries ranging between 91.1 per cent and 93.2 per cent and, combined with the rapidity with which this collector acts, would also produce cost savings in the production of our high-purity concentrate.

"Arianne continues to enhance its Lac a Paul phosphate project," said Jean-Sebastien David, COO of the Company. "By partnering with groups such as COREM and NordChem, we are always on the lookout for ways to make our project better. Currently, Arianne is already projected to be among the lowest cost, high-purity producers of phosphate concentrate and, by making this change to our process, we will be able to take that cost down further." Additionally, financial assistance for the work associated with these tests was provided by the National Research Council of Canada through their Industrial Research Assistance Program.

Lastly, Arianne also wishes to announce that it has granted 400,000 options to some directors and senior management. Each Option entitles the holder to purchase one common share of the Company until July 6, 2030 at a price of $0.21 per share, this being the closing price of the Company's shares on the trading day preceding the date of grant. Options are subject to a one-year vesting period under the Plan and the Policy and are also subject to regulatory approval. The Board's decision to grant these options was part of a comprehensive grant to both the management and employees of Arianne in recognition of substantial reductions to cash salaries instituted as of April 2020 in response to the Covid-19 crisis; an effort that will remain in place into the foreseeable future.

Qualified Person

Jean-Sebastien David, PGeo, qualified person by National Instrument 43-101, has approved this release. Mr. David is also the Company's Chief Operating Officer.

About Arianne Phosphate

Arianne Phosphate is developing the Lac a Paul phosphate deposits located approximately 200 km north of the Saguenay/Lac St. Jean area of Quebec, Canada. These deposits will produce a high quality igneous apatite concentrate grading 39 per cent P2O5 with little or no contaminants (feasibility study released in 2013).

We seek Safe Harbor.