Resouro Strategic Metals Inc. Announces Update Regarding Acquisition of an Interest in the Tiros Rare Earths and Titanium Project in Brazil

21.12.2023 | 19:33 Uhr | Newsfile

Toronto, Dec. 21, 2023 - Resouro Strategic Metals Inc. (TSXV: RSM) (FSE: 8TX) ("Resouro" or the "Company"), further to its press releases dated August 2, 2023 and October 19, 2023, is pleased to provide an update regarding the Company's acquisition (the "Tiros Acquisition") of an interest in the Tiros Rare Earths and Titanium Project in Brazil (the "Tiros Project") and other related corporate activities.

The Company confirms that it has entered into definitive agreements relating to the Tiros Acquisition, however completion of the Tiros Acquisition remains subject to the approval of the TSX Venture Exchange ("TSXV"). As a clarification of the Press Release from August 2, 2023, at the date of signature of the Tiros Acquisition Agreement, the Tiros Project represented 11 mineral concessions totalling 177 km2 located in Minas Gerais, of which 9 belonging to RBM and Rodrigo Brito de Melo and 2 belonging to Brazil Copper Mineração Ltda, under titleship of a custodian third party. All the mineral titles were assigned to the target company previous to the date of this Press Release. To date, Resouro has made approximately $340,000 CDN in advances in respect of the Tiros Acquisitions for due diligence and completion of a technical report and other related matters. These advances were converted to loans in September 2022, and secured with a pledge of all issued corporate quotas of the target company. Upon final approval by the TSXV of the Tiros Acquisition, Resouro will undertake Phase 1 of drilling and technical studies towards initial resource estimation for the Tiros Project. The Company is expected to resume trading on or about December 27, 2023.

In parallel with completion of the Tiros Acquisition, the Company is also continuing to pursue a secondary listing on ASX which, subject to satisfying all ASX requirements and market conditions, is targeted for Q1 2024. Shareholders are advised that there is no certainty, or guarantee, that the ASX listing will occur and there is a risk that the Company may not be able to comply with the requirements and/or satisfy the conditions imposed by the ASX.

Further to the press release dated October 19, 2023, the Company wishes to advise that Mr. Rodrigo Mello will no longer be appointed as a director or officer of the Company.

About Resouro Strategic Metals Inc.

Resouro is a Canadian-based mineral exploration and development company focused on the discovery and advancement of economic mineral projects in Brazil, including the Tiros Project in Minas Gerais and the Novo Mundo and Santa Angela gold projects in Mato Grosso State.

The Tiros Municipality is located approximately 317 km West-North-West of Belo Horizonte, sixth largest city in Brazil and the capital of Minas Gerais state. The Tiros Project is targeting commodities of interest being Titanium and Rare Earth Elements (REE's). The Project comprises 25 mineral titles in total, being 16 granted exploration licenses, which have a total area of approximately 27,325 hectares. The Project also includes 8 applications for exploration license and one tenement able for mining permit request.

Learn more about the Company on its website:

On behalf of the Board of Directors,
Chris Eager, President & CEO
Resouro Strategic Metals Inc.

For further information, please contact the Company at:
Chris Eager, CEO

For Investor inquiries

Forward-Looking Information

This news release contains certain 'forward-looking information" within applicable securities law, including the resumption date of trading and the potential secondary listing on the ASX and its associated capital raise. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation and environmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required, including obtaining final acceptance of the TSXV and the ASX; the need to obtain required approvals from regulatory authorities; stock market volatility; liabilities inherent in the mining industry; competition for, among other things, skilled personnel and supplies; incorrect assessments of the value of acquisitions; geological, technical, processing and transportation problems; changes in tax laws and incentive programs; failure to realize the anticipated benefits of acquisitions and dispositions; and the other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

Neither the 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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