Resouro Strategic Metals Inc Commences Trading on the ASX Following AUD $8 Million Public Offering

Resouro Strategic Metals Inc. has been admitted to the Official List of the ASX under the code 'RAU' and is now listed on the ASX - Resouro Strategic Metals Inc. (ASX: RAU; TSX-V: RSM; FSE:BU9; OTC:RSGOGF) ("Resouro" or the "Company") is pleased to announce that following completion of its highly successful oversubscribed ASX Public Offering in Australia of CDIs, the Company will commence trading on the Australian Securities Exchange (ASX) on 14 June 2024 at 10:30am (AEST) under the ticker code "RAU".

Resouro raised AUD $8,000,000 (before costs) via the issue of 16,000,000 CDIs at AUD $0.50 per CDI, with a ratio of 1 CDI for 1 Share in the Company, resulting in a market capitalisation of AUD $46.1 million following completion of the Public Offer.

The Company received strong demand from new and existing Australian institutional investors as well as retail investors under the bookbuild process in connection with the Public Offer.

Taylor Collison acted as Lead Manager to the Offer.

Resouro is an exploration company focused on the discovery and development of critical mineral resources, via the Company's 90% ownership interest in the Tiros Project (Tiros). Tiros is a REE and titanium project covering an area of approximately 450 km2 in the Minas Gerais State, one of the leading mining jurisdictions in Brazil. Tiros is surrounded by established infrastructure with world class roads, rail, ports, power, water and qualified labour all in close proximity.

The immediate focus for the Company is to increase shareholder value by advancing the Tiros project. Funds raised from the Public Offer will largely be applied towards:

• progressing exploration activities including a targeted drill program with an aim to delineate a JORC compliant Mineral Resource;

• undertaking chemical and metallurgical testwork to determine scoping level requirements; and

• subject to the results of the exploration activities, commencing preliminary economic evaluation and undertaking preliminary technical studies.

The Company has an experienced board and management team in place with a broad range of mining, project development, financing, operational, technical and corporate skills in the resource industry. Resouro CEO, Chris Eager, is a mining engineer with 35 years of experience in the mining industry. Mr Eager was a co-founder of Monterrico Metals plc which unlocked significant value in the Peruvian Rio Blanco copper project that was acquired in 2007 at a valuation of ~US$200 million. Mr Eager also co-founded Asia Energy PLC and CoalMont Ltd.

Commenting on Resouro's ASX listing, Chris Eager, CEO, said:

"We are delighted with the outstanding response to Resouro's ASX listing. The Board sees Resouro's listing on the ASX as a great opportunity to capture the true value of the Company's assets and is highly complementary to the current listing on the TSXV. On behalf of the Board and senior management, I would like to thank all investors for their strong interest in the Company. I would also like to personally welcome new shareholders to the Company and thank existing shareholders for their continued support throughout the Offer process.

Resouro's leading project, Tiros, is an exciting asset located in a Tier-1 mining jurisdiction. Brazil, hosts some of the world's largest rare earth elements reserves, making it a potential major supplier globally. We look forward to accelerating our drilling program to enhance our understanding of the magnitude and grade potential of the Tiros project.

Tiros is being advanced at a time when demand for rare earth elements continues to grow in response to the electrification and decarbonisation of the global economy, which we believe will continue as countries seek to achieve their net-zero carbon emission targets."

This announcement has been authorised for release by the Board of Directors.

ENDS

Contact Information:

Chris Eager, CEO Justin Clyne, Director Media Enquiries

chris.eager@resouro.com justin.clyne@resouro.com Media & Capital Partners

+44 7388 0579809 +61 407 123 143 Melissa Hamilton

+61 417 750 274

About the Company

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 Gold Project in Mato Grosso. The Tiros Project represents 25 mineral concessions totaling 450km2 located in the state of Minas Gerais, one of the most infrastructurally developed states of Brazil, 350 km from Belo Horizonte, the state capital.

Forward-Looking Information

This news release contains certain "forward-looking information" within the meaning of applicable securities law. 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 conditional and final acceptance of the TSXV; 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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This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities of the Company in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities of the Company in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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