Mr. Chris Eager reports

RESOURO COMPLETES $2.8M RAISING AND RESOURO'S INTENTION TO LIST ON THE AUSTRALIAN SECURITIES EXCHANGE (ASX)

On Aug. 29, 2023, Resouro Gold Inc. closed a brokered private placement offering of 10,107,403 common shares in the capital of the company at a price of 28 cents per common share for aggregate gross proceeds of $2.83-million. The company is pleased to welcome Regal Funds Management as a cornerstone shareholder to the register, and would like to thank existing shareholders, prominent institutional and family-office-resources-focused investors for their continued support for Resouro.

The offering represents an 87-per-cent premium to Resouro's last capital raising at 15 cents per common share in June, 2023. The common shares issued in connection with the offering are subject to a statutory hold period of four months.

Chris Eager, president, chief executive officer and major shareholder of Resouro, commented:

"We are extremely pleased to welcome additional investment from three high-calibre mining investment funds into Resouro. This is a great endorsement of the Tiros project and the work our team is doing on the ground in Brazil to drive shareholder value. The additional capital raised will be put to good use to increase the proposed drill and metallurgical test work program, to build value at the Tiros rare earths and titanium project. We look forward to continually updating the market as results materialize."

The offering was led by Taylor Collison Ltd., which acted as agent for the offering. As compensation for its services, the agent received a capital raising fee equal to 6 per cent of the aggregate gross proceeds of the offering, payable in cash.

The company intends to use net proceeds from the offering to advance exploration on the company's Tiros titanium-REE project and Novo Mundo gold project in Brazil, and for general working capital purposes.

Resouro to pursue secondary listing on the Australian Securities Exchange

Resouro is also pleased to announce it intends to pursue a secondary listing on the Australian Securities Exchange. The ASX dual listing will complement Resouro's current TSX Venture Exchange and Frankfurt Stock Exchange listings, and will allow the company to better service the large Australian investor base currently supporting Resouro.

The company has engaged law firm Thomson Geer, lead manager Taylor Collison and Australian company director Justin Clyne as Australian representatives to assist Resouro in navigating the application process. Resouro is targeting a listing by the end of 2023, subject to market conditions and being able to satisfy the appropriate ASX listing requirements.

Shareholders are advised that there is no certainty, or guarantee, that the ASX listing will occur, and there is a risk that the ASX may determine that the company is not an entity suitable for listing on the ASX or the company may not be able to comply with the requirements and/or satisfy the conditions imposed by the ASX.

Mr. Eager, Resouro CEO, commented:

"Through the last two capital raisings, we have found that investors in Australia have demonstrated a deep understanding of the rare earths market, and the large scale and quality of Resouro's Tiros project. After completion of the latest capital raising, Resouro now has a very strong share register, including specialist mining funds and prominent mining investors in Australia. In addition, we believe that the ASX has an active retail investor base that has a strong following in the small resources sector. To this end, we believe a listing on the ASX would greatly assist in building shareholder value through increased market exposure and trading liquidity. Resouro will continue to update the market in respect of its secondary listing."

About Resouro Gold 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 titanium-REE project in Minas Gerais and the Novo Mundo gold project in Mato Grosso.

We seek Safe Harbor.