FOR IMMEDIATE RELEASE: SEPTEMBER 7, 2010
MBAC ANNOUNCES POSITIVE DEFINITIVE FEASIBILITY STUDY FOR ITAFÓS PHOSPHATE PROJECT, BRAZIL

Toronto, Ontario, September 7, 2010, MBAC Fertilizer Corp. ("MBAC" or the "Company") (TSX:MBC) is pleased to announce the completion of the Definitive Feasibility Study (the "DFS" or the "Report"), the result of which strongly supports its decision to proceed with its 100% owned Itafós Phosphate Project (the "Itafós Project" or the "Project") located near the city of Arraias, Tocantins in Brazil.

The results of the Report are National Instrument 43-101 (NI 43-101) compliant and provide a detailed analysis of the technical, operating and capital cost considerations. The Report will be available on SEDAR (www.sedar.com) and on MBAC’s website under "Technical Reports".

Project Economics

The following is a summary of the key operating parameters and economics for the Project: Mine Life

Mine Life 14.5 years

Average ROM grade
5.94% P2O5 in first 10 years (5.4% P2O5 over the mine life)

Strip Ratio
1.85 for the first 10 years (2.3 over the mine life)

Operating Cost (SSP)
US$94.95 in first 4 years (US$104.32 per tonne over the mine life (granulated LOM))

Internal Rate of Return (IRR)
26.8%

Net Present Value @ 10%
US$ 252.5 million (US$3.47 per share*)

Payback
3.1 years after start-up.