Mr. Chris Eager reports

RESOURO STRATEGIC METAL INC COMPLETES PRIVATE PLACEMENT

Resouro Strategic Metals Inc. has closed its previously announced partially brokered private offering of 3,571,428 common shares in the capital of the company at a price of 42 cents per common share for aggregate gross proceeds of approximately $1.5-million. The company would like to thank existing shareholders for their continued support of Resouro.

This offering represents a 50-per-cent premium to Resouro's last capital raising at 28 cents per common share in August, 2023.

The common shares issued in connection with the offering are subject to a statutory hold period of four months.

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

"The enthusiastic investor response to the private placement underscores shareholders' confidence in our vision and strategy and the market's recognition of our potential and the value proposition we offer. We look forward to providing further updates to the market in coming months."

Taylor Collison Ltd. of Sydney, Australia, acted as agent for the $600,000 brokered portion of the offering. As compensation for its services, the agent will receive a capital raising fee of $63,000 which is equal to 4.2 per cent of the aggregate gross proceeds of the offering, payable in cash.

The company intends to use the net proceeds from the offering for general working capital purposes pending the proposed secondary listing on the Australian Securities Exchange and for exploration on the company's Tiros Brazilian exploration project.

Secondary listing on the Australian Securities Exchange

The company continues to pursue a secondary listing on the ASX which, subject to satisfying all ASX requirements and market conditions, is targeted for second quarter 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.

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.

We seek Safe Harbor.