Mr. Chris Eager reports

RESOURO STRATEGIC METALS INC. ANNOUNCES UPDATE REGARDING ACQUISITION OF AN INTEREST IN THE TIROS RARE EARTHS AND TITANIUM PROJECT IN BRAZIL

Further to its press releases dated Aug. 2, 2023, and Oct. 19, 2023, Resouro Strategic Metals Inc. has provided an update regarding the company's acquisition of an interest in the Tiros rare earth and titanium project in Brazil and other related corporate activities.

The company confirms that it has entered into definitive agreements relating to the Tiros Acquisition, however completion of the Tiros Acquisition remains subject to the approval of the TSX Venture Exchange ("TSXV"). As a clarification of the Press Release from August 2, 2023, at the date of signature of the Tiros Acquisition Agreement, the Tiros Project represented 11 mineral concessions totalling 177 km2 located in Minas Gerais, of which 9 belonging to RBM and Rodrigo Brito de Melo and 2 belonging to Brazil Copper Mineracao Ltda, under titleship of a custodian third party. All the mineral titles were assigned to the target company previous to the date of this Press Release. To date, Resouro has made approximately $340,000 CDN in advances in respect of the Tiros Acquisitions for due diligence and completion of a technical report and other related matters. These advances were converted to loans in September 2022, and secured with a pledge of all issued corporate quotas of the target company. Upon final approval by the TSXV of the Tiros Acquisition, Resouro will undertake Phase 1 of drilling and technical studies towards initial resource estimation for the Tiros Project. The Company is expected to resume trading on or about December 27, 2023.

In parallel with completion of the Tiros Acquisition, the Company is also continuing to pursue a secondary listing on ASX which, subject to satisfying all ASX requirements and market conditions, is targeted for Q1 2024. Shareholders are advised that there is no certainty, or guarantee, that the ASX listing will occur and there is a risk that the Company may not be able to comply with the requirements and/or satisfy the conditions imposed by the ASX.

Further to the press release dated October 19, 2023, the Company wishes to advise that Mr. Rodrigo Mello will no longer be appointed as a director or officer of the Company.

About Resouro Strategic Metals 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 Project in Minas Gerais and the Novo Mundo and Santa Angela gold projects in Mato Grosso State.

The Tiros Municipality is located approximately 317 km West-North-West of Belo Horizonte, sixth largest city in Brazil and the capital of Minas Gerais state. The Tiros Project is targeting commodities of interest being Titanium and Rare Earth Elements (REE's). The Project comprises 25 mineral titles in total, being 16 granted exploration licenses, which have a total area of approximately 27,325 hectares. The Project also includes 8 applications for exploration license and one tenement able for mining permit request.

We seek Safe Harbor.