ARIANNE AMENDS AND EXTENDS CURRENT CREDIT FACILITY

SAGUENAY, QUEBEC – (December 08, 2017) – Arianne Phosphate (the “Company” or “Arianne”) (TSX VENTURE: DAN; OTC: DRRSF; FRANKFURT: JE9N), a development-stage phosphate mining company, advancing the Lac à Paul project in Quebec’s Saguenay-Lac-Saint-Jean region, today has announced that it has amended and extended its current secured credit facility (see news release dated October 22, 2015 for more details). The current facility, which was set to mature as of December 31, 2017, has now been extended until January 15, 2019.

The secured credit facility in the amount of $19,472,638 will bear interest at an annual rate equal to 15% with all interest capitalized through the end of the facility. Additionally, the Company will issue the lender at closing 17,181,739 warrants at an exercise price of $0.68 per share, which, if exercised, would represent 60% of the face value of the credit facility. All the warrants will be exercisable through January 15, 2019. In connection with this transaction, Arianne will pay to the lender a commitment fee of 3% of the total amount of the credit facility, with this amount due at the end of the facility. The parties have also agreed to terminate at closing 3,717,000 non-transferable warrants which were issued to the lender in October 2015.

The Company did not pay an arrangement fee in connection with this transaction. The parties intend to proceed to the closing of the transaction shortly, which remains subject to the approval of the TSX Venture Exchange.

“Concluding on the credit facility with current lenders is a strong show of confidence in our efforts and, its limited dilution relative to an equity financing, is of real benefit to Arianne and its shareholders at this time,” said Brian Ostroff, Arianne’s CEO. “With this agreement now in place, Arianne has extended by thirteen months any payments, both interest and principal, associated with its credit facility and can now fully focus on its current discussions with financiers and strategic players without this immediate liquidity concern.”

About Arianne Phosphate

Arianne Phosphate (“Arianne Phosphate Inc.”) (www.arianne-inc.com) is developing the Lac à 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% P2O5 with little or no contaminants. The Company has 100,530,580 million shares outstanding.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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