Mr. Mark Gasson reports

ROME RESOURCES ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Rome Resources Ltd., further to the company's Oct. 30, 2023, release, has closed a non-brokered private placement of 3.6 million units of the company's securities at a price of 20 cents per unit for gross proceeds totalling $720,000. Each unit comprises one common share and one non-transferable common share purchase warrant, with each warrant exercisable for one common share at 25 cents per share on or before Nov. 18, 2025. The securities issued pursuant to the private placement and any shares to be issued on the exercise of warrants are restricted from trading until March 18, 2024.

The net proceeds of the financing will be used by the company to finance exploration activities at the Bisie North tin project, for corporate costs and for working capital.

Four insiders of the company purchased a total of three million units for proceeds to the company of $600,000, comprising 83.3 per cent of the total amount raised. This acquisition constitutes a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company is relying on the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value of the participation in the private placement by insiders does not exceed 25 per cent of the market capitalization of the company as determined in accordance with MI 61-101. The company's board of directors and specifically the independent members of the board, as applicable, reviewed and approved the private placement subscriptions by the insiders. The company did not file a material change report in respect of the related party transaction at least 21 days before closing of the private placement as the date of closing was not previously known.

About Rome Resources Ltd.

Rome 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 Democratic Republic of the Congo, 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 to finance exploration up to the completion of a definitive feasibility study.

We seek Safe Harbor.