Rome Resources Announces Initial Assay Results Confirm Significant Tin Discovery at the Kalayi Prospect, Bisie North Tin Project

Results from Drilling at the Kalayi Prospect

• Assay results from initial three drill holes confirm the significant tin (Sn) discovery at the Kalayi Prospect
• Drilling covered 150m of a high-grade tin in soil anomaly covering a strike length of 2,000m. Best intersections included:
  • 12.5m at 1.06% Sn from 41.5m including 2.5m at 3.39% Sn from 50m and 0.5m at 11.7% Sn from 51.5m in KBDD003
  • 2.5m at 2.60% Sn from 79m including 0.5m at 7.15% Sn from 80m in KBDD002
• Results to date demonstrate potential for further significant tin mineralisation from next phase of drilling planned to test remainder of the 2,000m strike length.

Results from Drilling at the Mont Agoma Prospect

• Further assay results received support the current model that Mont Agoma is a multi-element prospect over a strike length of more than 1,000m with upper mineralised levels of tin, zinc, silver and high-grade copper and high-grade tin mineralisation expected at deeper levels. Assay results were reported for a further 5 holes.
• Best tin intersections within upper mineralised levels included:
  • 12m at 0.31% Sn from 29m including 1.75m at 1.14% Sn from 31.75m in MADD005
  • 9.0m at 0.25% Sn from 122m including 0.50m at 1.20% Sn from 124m in MADD011
• Best copper and zinc intersections within upper mineralised levels included:
  • 41m at 3.52% Cu from 139m including 13.15m at 7.8% Cu from 143.85m in MADD010A
  • 49m at 3.76% Zn from 76m including 4m at 10.04% Zn from 90m in MADD010A

CEO and President Mark Gasson commented: "We are extremely excited about the new discovery at Kalayi. Two of the first four holes have intersected significant tin mineralisation and we have only tested 150m of the defined 2km tin in soil anomaly. We are confident of identifying further significant tin mineralisation as we continue to test the anomaly. We consider the initial drilling at Kalayi to be hugely successful as it is unusual to have two intersections of this magnitude from a first round of drilling, given the team's understanding of mineralisation along the Bisie Ridge. The same team was responsible for the discovery and resource drilling on Alphamin's world-class tin projects.

We are equally excited about drilling at deeper levels at Mont Agoma. The high-grade copper, zinc, lead and silver and associated anomalous tin clearly demonstrates that we are drilling at the upper levels within the mineralised system. Typically, tin is deposited from high temperature hydrothermal fluids closer to the source at depth. Our focus is high grade tin mineralisation at depth, but significant near surface high grade copper mineralisation has the potential to materially enhance project economics."

We strongly believe our team has a good handle on the mineralisation identified at the two different targets at Bisie North, both of which have potential for the definition of significant tin resources from extension and deep drilling."

Discussion of Results at the Kalayi Prospect

Four diamond holes were drilled for a total of 463.5m beneath the artisanal workings at the Kalayi Prospect as shown in Figure 1, where previous channel sampling reported up to 1m at 11% Sn. Drilling tested 150m of the 600m high grade tin in soil anomaly (>80ppm Sn) within the broader 2,000m soil anomaly (>40ppm Sn). Assay results have been received for 3 holes at Kalayi as summarised in Table 1 and shown in Figures 1 and 2.

Three discrete zones of tin mineralisation were intersected in KBDD003 as shown in plan in Figure 1 and in section in Figure 2. Highly significant intersections included 12.5m at 1.06% Sn from 41.5m including 2.5m at 3.39% Sn from 50m and 0.5m at 11.7% Sn from 51.5m and 3m at 1.92% Sn from 70m including 0.4m at 12.85% Sn from 70.7m. These high-grade intercepts are highly significant as they have potential to develop into zones of substantial width and grade at depth and on strike due to the pinch and swell nature of mineralisation associated with quartz veins and shearing. Alphamin Resources's Mpama South Prospect has little near surface mineralisation above the bulk of its resource where they have defined 147,900 tonnes of contained tin in the Indicated and Inferred Resource categories.*

Tin mineralisation is also expected to have a strong shoot geometry as observed elsewhere along the Bisie Ridge which will be confirmed in the future planned drilling programme.

KBDD002 reported a best intersection of 2.5m at 2.60% Sn from 79m including 0.5m at 7.15% Sn from 80m. Initial interpretations suggest that the high-grade tin intersected in KBDD002 forms part of a separate zone of shearing to that in KBDD003 and it is possible that the mineralisation at Kalayi is within a series of en echelon parallel structures which are potentially mineralised along the 2,000m tin in soil anomaly.

Mineralisation at Kalayi is clearly within the tin zone with very little copper or base metal support. Tin mineralisation is expected from surface and is interpreted to continue along the ridge to the northwest and southeast of the drilling at Kalayi over the full extent of the 2,000m soil anomaly. Infill close spaced soil sampling and pitting/trenching programmes have commenced on the ridge and will guide future drilling programmes.

*Alphamin Resources, Investor Presentation, BMO Roadshow 19, June 2023

Initial focus will be to follow up on the significant tin intercepts in holes KBDD002 and KBDD003 at depth and on strike to identify any potential shoot geometry and continuity of mineralisation within the mineralised structures.

Figure 1: Diamond Drill Hole Collar Positions and Drilling Intersections on the Kalayi Tin in Soil Anomaly

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Figure 2: Section Across KBDD003 showing Drilling Results within the broader Zone of Shearing at the Kalayi Prospect. Mineralisation is Open at Depth and on Strike.

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Discussion of Results at the Mont Agoma Prospect

Assay results have been received for 5 additional holes at Mont Agoma as summarised in Table 1 and shown in section in Figure 4.

The most significant intercept in understanding the model for mineralisation at Mont Agoma was from the deepest intersections reported to date from MADD010A which included 26m at 0.15% Sn from 149m, 41m at 3.52% Cu from 139m including 13.15m at 7.8% Cu from 143.85m and significant silver mineralisation with 8m at >100g/t Ag within a 35m intercept. These results clearly indicate that drilling at Mont Agoma has been concentrated on the upper levels of mineralisation within tin deposits which typically show a strong zonation with concentrations of copper, zinc, lead and silver typical of tin deposits in the upper levels and tin mineralisation at lower levels. Intersected base metal mineralisation is analogous to the upper levels mined out at San Rafael in Peru where copper, lead, zinc and silver were mined from surface before passing through a transition zone of copper and tin and today it is a tin producing mine. San Rafael currently produces 10% of the world's tin.

The 26m tin intercept in MADD010A is the deepest and widest continuous tin intercept reported to date at Mont Agoma and supports a potential increase in width and grade at depth. Future drilling will target the tin, copper and zinc zone and the tin zone shown in Figure 4 which are potentially mineralised over more than 1,000m at depth and to the southeast.

Tin intercepts of 12m at 0.31% Sn from 29m including 1.75m at 1.14% Sn from 31.75m were also reported from MADD005 and 9m at 0.25% Sn from 122m including 0.5m at 1.2% Sn from 124m and 0.65m at 1.03% Sn from 128.5m from MADD011.

Two zones of zinc mineralisation were intersected at Mont Agoma as shown in section in Figure 4. It is not clear whether the eastern zone is a cross-cutting conduit for zinc impregnated mineralised fluids which were deposited along the western shear intersected in MADD002 (90m at 4.01% Zn) or whether it is a localised zone of zinc mineralisation which is not observed on the neighbouring section lines.

Figure 3: Diamond Drill Hole Collar Positions on the Mont Agoma Tin in Soil Anomaly

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The Company has completed infill soil sampling programmes and will trench the high-grade areas where possible to better define the surface strike continuity of the mineralised structures to assist with planning of the next phase of drilling at the Mont Agoma Prospect. Results for the remaining 4 holes are expected by the end of August 2023.

Figure 4: Section 1 Across MADD002, MADD007, MADD005 and MADD010A and MADD015A showing Multiple Tin and Base Metal Mineralised Structures which cover more than 200m Width and remain Open at Depth.

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QP Statement

Dr Deon Vermaakt is a consultant of Rome Resources Ltd. and qualified geologist and is a registered Professional Natural Scientist (Geological Science) with the South African Council for Natural Scientific Professions (SACNASP Reg. No. 400074/03). Dr Vermaakt is a qualified person (QP) under NI 43-101 and has reviewed and approved the scientific and technical information contained in this news release.

Dr Vermaak reviews all sampling procedures and results of QAQC samples, which are inserted at regular intervals throughout the sample submissions on an on-going basis. A total of 29 QAQC control samples were inserted into the sample stream, consisting of 9 pulp duplicates, 9 Blanks and 10 CRM's. All returned satisfactory and acceptable values.

About Rome Resources

Rome Resources Ltd. is a mineral exploration company that has entered into two option agreements and a binding term sheet to acquire direct and indirect interests in two contiguous properties situated in the Walikale District of the North Kivu Province in eastern DRC, which are collectively referred to as the "Bisie North Tin Project". Rome has completed an initial phase of drilling on the project where it is responsible to fund exploration up to the completion of a definitive feasibility study.

Contacts

Investors / Shareholders
Mark Gasson
President, CEO & Director
P: (604) 687-6140

Media

E: info@romeresources.com

Cautionary Note Regarding Forward-Looking Statements

The information in this news release may include certain information and statements about management's view of future events, expectations, plans and prospects that may constitute forward-looking statements. Forward-looking statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Although Rome Resources Ltd. believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, Rome Resources Ltd. disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

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Table 1: Significant Mineral Intercepts at the Kalayi and Mont Agoma Prospects (0.1% cut-off grade for Sn, 0.5% cut-off grade for Zn & Cu; 3m maximum internal waste)