Mr. Mark Gasson reports

ROME RESOURCES SIGNS BINDING TERM SHEET TO ACQUIRE AN ADDITIONAL 15% INDIRECT INTEREST IN BISIE NORTH-EAST EXPLORATION PERMIT 15130

Rome Resources Ltd. has entered into a binding term sheet with Palm Constellation SARL, pursuant to which Rome has agreed to acquire, from Palm, a 15-per-cent indirect interest in exploration permit 15130 (PR15130), which is one of two licences that comprise the Bisie North tin project located in the Walikale district of the North Kivu province in the eastern Democratic Republic of the Congo.

As set out in the term sheet, a new company, Mont Agoma SARL, which is in the process of being incorporated, will be the holder of exploration permit 15130. Upon incorporation, Mont Agoma will be owned by, respectively, CoTinCo Minerals Projects International LLC holding a 45-per-cent interest, Palm holding a 30-per-cent interest and Rome holding a 25-per-cent interest. Pursuant to the term sheet, Rome can acquire a further 15-per-cent interest in Mont Agoma by issuing five million units in the capital of Rome to Palm, where each unit will consist of one common share of Rome and one common share purchase warrant exercisable for two years at 50 cents per share. The five million units will not be issuable by Rome until after: (a) Mont Agoma has been incorporated; (b) the Bisie North-East permit has been transferred to Mont Agoma, free and clear of all charges, encumbrances and claims; and (c) Palm has transferred to Rome a 15-per-cent interest in Mont Agoma.

Rome is also a party to an option agreement with CoTinCo dated Aug. 15, 2022, pursuant to which it was granted two options by CoTinCo to acquire up to a 51-per-cent undivided interest in the Bisie North-East exploration permit 15130. Following its exercise of the first option under the option agreement, Rome has earned a 25-per-cent interest in and to the Bisie North-East exploration permit 15130. By exercising its second option under the option agreement, Rome can increase its interest in Mont Agoma by an additional 26 per cent, and, by acquiring a 15-per-cent interest in Mont Agoma from Palm, Rome can acquire up to a total 66-per-cent interest in Mont Agoma.

Chief executive officer and president Mark Gasson commented: "The current drilling program at the Mont Agoma prospect, which is located within PR15130, is testing a newly defined high-grade, contiguous tin-in-soil anomaly covering a strike length of approximately 1.2 kilometres. Drilling completed to date has identified a large sulphide mineralized system, including tin-bearing zones at surface that continue along strike and appear to increase significantly in grade and width at depth (refer to the company's news release dated May 8, 2023). We are pleased about the opportunity to increase the company's indirect ownership interest in this property, which hosts an exciting new discovery in the DRC's high-grade tin province located in an area of stability near a highly successful producing tin mine."

The proposed transaction with Palm is subject to TSX Venture Exchange acceptance for filing.

About Rome Resources Ltd.

Rome Resources is a mineral exploration company that has entered into two option agreements to acquire 51-per-cent direct and indirect interests in two contiguous properties situated in the Walikale district of the North Kivu province in the eastern Democratic Republic of the Congo, which are collectively referred to as the Bisie North tin project. Rome intends to finance exploration on the project up to the completion of a definitive feasibility study.

We seek Safe Harbor.