Resouro Strategic Metals Takes Significant Step Forward with Filing of Tiros Project Technical Report

Resouro Strategic Metals Inc., a leading mining company, has filed an independent technical report for the Tiros Titanium and Rare Earths Project, located in Minas Gerais, Brazil. This significant development marks a major milestone in the project's progression, as it independently supports the strong technical and economic foundations of the company's staged development strategy.

The technical report, which evaluates the development of a staged, high-grade starter operation, is based on a 500,000 tonne per annum processing facility operating over a 20-year mine life. The study targets approximately 9.5 million tonnes of high-grade run-of-mine material, representing less than one percent of the company's 1.4 billion tonne Measured and Indicated Mineral Resource.

According to Christopher Eager, Resouro's Chief Executive Officer, the report demonstrates that a relatively small, high-grade starter operation has the potential to generate attractive economics while reducing upfront capital requirements, shortening the pathway toward production, and preserving exceptional long-term expansion potential. The project combines conventional free-digging open-pit mining with a low strip ratio, the production of three potential product streams, and a location in the established mining jurisdiction of Minas Gerais, Brazil.

The preliminary economic assessment (PEA) outlined in the report reveals strong project economics, with an after-tax NPV of US$714.9 million, an after-tax internal rate of return of 44.2%, and an estimated after-tax payback period of 1.9 years. The mine life is expected to be 20 years, with a capital-efficient development strategy centered on the high-grade starter operation.

The Tiros Project has been designed to reduce execution risk and preserve long-term expansion potential. The conceptual design incorporates dry-stack tailings, which is a more environmentally friendly approach compared to traditional tailings storage. The project's location in Minas Gerais, Brazil, provides access to existing infrastructure and a skilled workforce, further reducing the risk associated with the development of the project.

The filing of the technical report is a significant step forward for Resouro Strategic Metals, as it provides a level of transparency and accountability to the company's stakeholders. The report is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have economic considerations applied to them. However, the report demonstrates the potential of the Tiros Project and provides a solid foundation for the company's future development plans.

In conclusion, the filing of the technical report for the Tiros Project marks a significant milestone in the project's progression. The report independently supports the strong technical and economic foundations of the company's staged development strategy and demonstrates the potential of the project to generate attractive economics. With its favorable project fundamentals, capital-efficient development strategy, and significant expansion potential, the Tiros Project is poised to become a major player in the mining industry.