Mr. Mark Gasson reports

ROME RESOURCES ANNOUNCES INITIAL ASSAY RESULTS CONFIRM SIGNIFICANT TIN DISCOVERY AT THE KALAYI PROSPECT, BISIE NORTH TIN PROJECT, 12.6M AT 1.06% TIN INCLUDING 0.5M AT 11.7% TIN

Rome Resources Ltd. has released further assay results from the recently completed drilling program within the Bisie North tin project (BNTP), including for three holes at its Kalayi prospect and five additional holes at its Mont Agoma prospect. The BTNP is situated in the Walikale district of the North Kivu province in eastern Democratic Republic of the Congo (DRC).

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 150 metres of a high-grade tin-in-soil anomaly covering a strike length of 2,000 m. Best intersections included:
  • 12.5 m at 1.06 per cent Sn from 41.5 m, including 2.5 m at 3.39 per cent Sn from 50 m and 0.5 m at 11.7 per cent Sn from 51.5 m in KBDD003;
  • 2.5 m at 2.60 per cent Sn from 79 m, including 0.5 m at 7.15 per cent Sn from 80 m in KBDD002.
• Results to date demonstrate potential for further significant tin mineralization from the next phase of drilling planned to test remainder of the 2,000 m strike length.

Results from drilling at the Mont Agoma prospect:

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

Chief executive officer 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 mineralization and we have only tested 150 m of the defined two-kilometre tin-in-soil anomaly. We are confident of identifying further significant tin mineralization 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 mineralization 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 mineralized system. Typically, tin is deposited from high-temperature hydrothermal fluids closer to the source at depth. Our focus is high-grade tin mineralization at depth, but significant near-surface high-grade copper mineralization has the potential to materially enhance project economics.

"We strongly believe our team has a good handle on the mineralization 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 463.5 m beneath the artisanal workings at the Kalayi prospect, where previous channel sampling reported up to one m at 11 per cent Sn. Drilling tested 150 m of the 600 m high-grade tin-in-soil anomaly (greater than 80 parts per million Sn) within the broader 2,000 m soil anomaly (greater than 40 ppm Sn). Assay results have been received for three holes at Kalayi as summarized herein.

Three discrete zones of tin mineralization were intersected in KBDD003. Highly significant intersections included 12.5 m at 1.06 per cent Sn from 41.5 m, including 2.5 m at 3.39 per cent Sn from 50 m and 0.5 m at 11.7 per cent Sn from 51.5 m, and three m at 1.92 per cent Sn from 70 m, including 0.4 m at 12.85 per cent Sn from 70.7 m. 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 mineralization associated with quartz veins and shearing. Alphamin Resources' Mpama South prospect has little near-surface mineralization above the bulk of its resource where it has defined 147,900 tonnes of contained tin in the indicated and inferred resource categories.

Tin mineralization 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 program.

KBDD002 reported a best intersection of 2.5 m at 2.60 per cent Sn from 79 m, including 0.5 m at 7.15 per cent Sn from 80 m. 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 mineralization at Kalayi is within a series of en echelon parallel structures which are potentially mineralized along the 2,000 m tin-in-soil anomaly.

Mineralization at Kalayi is clearly within the tin zone with very little copper or base metal support. Tin mineralization 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 2,000 m soil anomaly. Infill close-spaced soil sampling and pitting/trenching programs have commenced on the ridge and will guide future drilling programs.

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 mineralization within the mineralized structures.

Discussion of results at the Mont Agoma prospect

Assay results have been received for five additional holes at Mont Agoma as summarized herein.

The most significant intercept in understanding the model for mineralization at Mont Agoma was from the deepest intersections reported to date from MADD010A which included 26 m at 0.15 per cent Sn from 149 m, 41 m at 3.52 per cent Cu from 139 m, including 13.15 m at 7.8 per cent Cu from 143.85 m, and significant silver mineralization with eight m at greater than 100 g/t Ag within a 35 m intercept. These results clearly indicate that drilling at Mont Agoma has been concentrated on the upper levels of mineralization 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 mineralization at lower levels. Intersected base metal mineralization 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 per cent of the world's tin.

The 26 m 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 which are potentially mineralized over more than 1,000 m at depth and to the southeast.

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

Two zones of zinc mineralization were intersected at Mont Agoma. It is not clear whether the eastern zone is a crosscutting conduit for zinc-impregnated mineralized fluids which were deposited along the western shear intersected in MADD002 (90 m at 4.01 per cent Zn) or whether it is a localized zone of zinc mineralization which is not observed on the neighbouring section lines.

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

Qualified person statement

Dr. Deon Vermaakt is a consultant of Rome Resources and a qualified geologist and is a registered professional natural scientist (geological science) with the South African Council for Natural Scientific Professions (SACNASP registration No. 400074/03). Dr. Vermaakt is a qualified person (QP) under National Instrument 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 quality assurance/quality control samples, which are inserted at regular intervals throughout the sample submissions on a continuing basis. A total of 29 QA/QC control samples were inserted into the sample stream, consisting of nine pulp duplicates, nine blanks and 10 certified reference materials. All returned satisfactory and acceptable values.

About Rome Resources Ltd.

Rome Resources 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 for financing exploration up to the completion of a definitive feasibility study.

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