Resouro Executes Binding Mining and Processing Agreement for Novo Mundo
TSX-V News Release ASX News Release 1 June 2026 2 June 2026
Resouro Executes Binding Mining and Processing Agreement for Novo Mundo
Future Mining and BGM to cover capital and opera4ng costs for program at Brazilian gold project
Resouro Strategic Metals Inc. (ASX: RAU; TSX-V: RSM; FSE: 8TX; OTCQB: RSGOF) (“Resouro” or the “Company”), through its Brazilian subsidiary, ISON do Brasil Mineração Ltda. ("ISON"), has signed a mining, transport and processing agreement (the "Agreement") with Future Mining Ltda. ("Future Mining") and BuriZ Gold Mineração Ltda. ("BGM") for a proposed mining and processing program at its 100%-owned Novo Mundo Gold project in Mato Grosso, Brazil.
"This Agreement provides a pathway to unlock value from Novo Mundo, a non-core gold asset, through a funded mining and processing program, without diverZng capital from our flagship Tiros Titanium and Rare Earth Elements Project,” said Christopher Eager, Resouro’s Chief ExecuZve Officer. “We remain focused on advancing the Tiros Project, while preserving Resouro's ownership and control over the Company’s mineral rights. Future Mining and BGM bring local operaZng and processing capability, and the condiZons precedent are intended to ensure that any work at Novo Mundo proceeds in a disciplined, compliant and transparent manner.”
Highlights
- Agreement signed for a proposed mining, transport, and processing program at Novo Mundo under the terms and permitted volumes comprised within ISON’s Guia de Utilização (Trial Mining License, or “Novo Mundo GU”).
- Future Mining/BGM to fund and provide the capital, operating costs, contractors, plant operation and technical capability required for the program, subject to an agreed budget and conditions precedent.
- The Brazilian ANM (Department of Mines) approved a three-year extension to the Novo Mundo GU on the 26th of April 2026. This allows Resouro to mine up to 4,000 tonnes per month over the threeyear period. Resouro has commenced the application process for a mining concession over the area.
- The initial operating plan contemplates mining and trucking of gold-bearing material to the BGM processing plant, subject to the permitted limits of the Novo Mundo GU, environmental licenses, safety requirements, and plant capacity. The Company has not completed a feasibility study or declared Mineral Reserves or Ore Reserves for the Novo Mundo Gold Project, and any decision to proceed with mining, transport and processing under the Novo Mundo GU would not be based on a feasibility study of Mineral Reserves demonstrating economic and technical viability.
- Net revenue from sale of gold product is expected to be shared between ISON and Future Mining/BGM after applicable taxes, royalties, CFEM, permitted deductions and approved costs. The parties are currently targeting an allocation of approximately 30% to ISON and 70% to Future Mining/BGM up to initial mining, logistics and plant capex repayment and 50% to ISON and 50% to Future Mining/BGM going forward, which remains subject to finalization of the operating budget, payment-flow mechanics, regulatory requirements and any required approvals.
- The Agreement does not transfer, sell, lease, pledge, or encumber the Novo Mundo GU or any ANM mineral right.
- The structure is designed to provide Resouro with potential non-dilutive cash flow from Novo Mundo while the Company remains focused on advancing its flagship Tiros Titanium and Rare Earth Elements Project. There can be no assurance that the proposed program will be implemented, that any material will be mined or processed economically, or that any positive cash flow will be generated.
Novo Mundo Gold Project
Resouro’s Novo Mundo Gold Project is located in Mato Grosso, Brazil, within the prolific Alta Floresta Gold Province, an area associated with historical gold rush acZvity. Novo Mundo consists of three conZguous, 100%-owned licences spanning approximately 16,700 hectares. The project is accessible by paved roads and is approximately 740 km from Cuiabá, the state capital. Selected historical drill results from Novo Mundo are summarized in the table below. These results include informaZon previously disclosed by the Company, including the NMDD002 result shown in the fourth data row, which was reported in the Company’s news release dated September 20, 2022, and in ASX announcements dated 13 June 2024 “Prospectus Part 2” and “Prospectus Part 3”. AddiZonal background on that previously disclosed result is provided in Appendix A.
| Hole Number Intercept From (m) Intercept To (m) Interval Length (m) Gold Grade (g/t Au) | ||||
|---|---|---|---|---|
| NMDD010 55.90 72.11 16.21 2.97 | ||||
| NMDD010 | 55.90 | 58.19 | 2.29 | 11.40 |
| NMDD010 71.03 72.11 1.08 19.93 | ||||
| NMDD002 | 65.89 | 77.54 | 11.65 | 5.11 |
| NMDD002 66.39 68.89 2.50 8.09 | ||||
| NMDD002 | 72.94 | 77.54 | 4.60 | 6.30 |
| FNV009 62.73 69.34 6.61 5.47 | ||||
| FNV009 | 64.08 | 69.34 | 5.26 | 6.82 |
The Agreement applies solely to material that may be lawfully extracted and processed under the Novo Mundo GU and all applicable environmental, regulatory and other authorizaZons. The Agreement does not consZtute a sale of the Novo Mundo Gold Project. Resouro conZnues to evaluate strategic alternaZves for the Novo Mundo Gold Project in a manner consistent with its capital allocaZon prioriZes and its focus on the Tiros Project.
About Buri5 Gold Mineração Ltda
BGM is a subsidiary of Future Mining with gold extracZon, processing and mine operaZng experience in the Peixoto de Azevedo gold district. BGM owns both open-pit and underground mines, plus a processing plant within trucking distance of Novo Mundo in the gold-rich Peixoto de Azevedo region. The BGM processing plant was established in 2022 and is currently treaZng similar material to that found at Novo Mundo. The management of BGM has extensive experience in mining, processing and gold producZon in the region and will provide highly experienced project management for the program.
Overview of the Agreement
The Agreement establishes a Brazilian-law structure for the proposed mining, transport and processing of gold-bearing material from Guia de UZlização No. 20/2022 under ANM Process No. 866.035/2009 (the "Novo Mundo GU"), subject to the saZsfacZon of condiZons precedent, including verificaZon of applicable ANM and environmental authorizaZons, operaZng plans, budget, accounZng protocols, safety controls and regulatory requirements.
Under the Agreement, Future Mining and BGM will prepare and implement a basic economic study, mine plan, transport plan and processing plan for shallow gold-bearing material from the Novo Mundo GU. The basic economic study, mine plan, transport plan and processing plan will not consZtute a feasibility study, prefeasibility study, Mineral Reserve esZmate or Ore Reserve esZmate. Once the condiZons precedent are saZsfied, material is expected to be mined from the authorized GU area, transported to the BGM processing plant and processed for the recovery and sale of gold product, subject to applicable authorizaZons, operaZonal performance, technical constraints, metallurgical performance, costs, recoveries, grade control, reconciliaZon, market condiZons and regulatory compliance.
The Company cauZons that the proposed mining, transport and processing program would involve a producZon decision without the benefit of a feasibility study of Mineral Reserves demonstraZng economic and technical viability. As a result, there is increased uncertainty and a higher risk of economic and technical failure than would be the case if the program were supported by a feasibility study and Mineral Reserves. Specific risks include, among others, uncertainty regarding grade conZnuity, diluZon, mineability of the material, metallurgical recoveries, processing performance, operaZng and transport costs, gold recovery and payability, reconciliaZon between mined material and processed product, environmental and operaZng permits, compliance with the terms of the Novo Mundo GU, water, tailings and waste management, contractor performance, plant availability, gold price fluctuaZons, foreign exchange, tax and royalty treatment, and the availability of approvals required to commence and conZnue operaZons.
ISON will remain the Ztleholder/controller of the Novo Mundo GU and related ANM rights. The Agreement expressly provides that no mineral Ztle, mining right or GU is transferred or encumbered. Future Mining/BGM will be responsible for funding and undertaking the operaZonal workstreams, including mining contractors, equipment, haulage, plant processing, security, laboratory work, metallurgical accounZng and operaZng cost funding, subject to agreed controls and oversight.
The parZes have agreed to establish a joint operaZng commiqee to approve budgets, monthly producZon plans, assay protocols, reconciliaZon procedures, environmental and safety controls, cost deducZons and payment flows. The Agreement also contains audit rights, confidenZality obligaZons, anZ-corrupZon undertakings, indemniZes, suspension rights and Brazilian-law dispute resoluZon provisions.
Condi5ons Precedent
Commencement of mining, transport and processing remains subject to saZsfacZon or waiver, where legally waivable, of customary condiZons precedent, including:
- verification of the validity, term, permitted substance, area, tonnage and conditions of the Novo Mundo GU;
- confirmation of environmental licenses, operating permits, water, tailings, transport and goldhandling authorizations for the mine area, transport route and BGM plant;
- approval of the mine plan, processing plan, grade-control procedures, metallurgical accounting protocol, HSE plan, emergency response plan and compliance matrix by the Joint Operating Committee of ISON and Future Mining/BGM (the “Joint Committee”);
- agreement on final budget, permitted deductions, sales and payment-flow mechanics, independent laboratory and umpire laboratory by the Joint Committee;
- completion of legal, tax, ANM, environmental, labor, technical, plant, insurance, and anti-corruption due diligence satisfactory to ISON and Resouro; and,
- completion of any ASX, TSXV, corporate, board or regulatory filings or approvals required before operations commence.
Technical Disclosure and Compliance Statement
This announcement does not disclose any new exploraZon results, Mineral Resources, Mineral Reserves, Ore Reserves, a producZon target or a forecast of economic viability for the Novo Mundo Gold Project. The exploraZon results referenced in this announcement were previously disclosed by the Company in ASX announcements dated 13 June 2024 “Prospectus Part 2” and “Prospectus Part 3”. The Company confirms that the previously disclosed exploraZon results for Novo Mundo included in this announcement are unchanged from the applicable original disclosure and that the form and context in which those results are presented have not been materially modified. The Tiros Project Mineral Resource EsZmate referenced in the “About Resouro” secZon was previously disclosed and is repeated in accordance with ASX LisZng Rule 5.23.
The Company has not completed a feasibility study, pre-feasibility study, Mineral Reserve esZmate or Ore Reserve esZmate for the Novo Mundo Gold Project. Any decision to proceed with mining, transport and processing under the Novo Mundo GU would therefore consZtute a producZon decision without the benefit of a feasibility study of Mineral Reserves demonstraZng economic and technical viability. The permiqed volumes referenced in this announcement are the permiqed volumes under the Novo Mundo GU and should not be interpreted as a producZon target, forecast of economic viability, esZmate of Mineral Reserves or Ore Reserves, or an indicaZon that the material can be mined or processed economically.
The proposed program is subject to mining authorizaZon, environmental licensing, operaZonal constraints and regulatory approvals. Due to the absence of a feasibility study and Mineral Reserves or Ore Reserves, there is increased uncertainty and a higher risk that the proposed program may not be technically or economically viable, may not proceed as contemplated, may not generate posiZve cash flow, or may be suspended or terminated. Any future disclosure of technical results, Mineral Resources, Mineral Reserves, Ore Reserves or producZon targets will be made in accordance with applicable ASX LisZng Rules, the JORC Code and NaZonal Instrument 43-101, as applicable.
Qualified Person
The technical and scienZfic informaZon contained in this announcement has been reviewed and approved by Mr. Rodrigo Mello (FAusIMM 209332), who is a Qualified Person for the purposes of NaZonal Instrument 43-101. He has over 20 years of experience working in the exploraZon of gold deposits with a similar geology and context to the Novo Mundo deposit. Mr. Mello is not independent.
This announcement has been authorized for release by the Board of Directors of Resouro Strategic Metals Inc.
For further informaZon, please contact:
Christopher Eager Simon Stilwell Annemarie Brissenden
Chief Executive Officer Board Chairman Refined Substance Inc.
[email protected] [email protected] [email protected] +44 7388 0579809 +44 7900 825657 + 1 416 844-6284
About Resouro
Resouro is a Canadian incorporated mineral exploration and development company, listed on the ASX, TSXV, OTC, and FSE, focused on the discovery and advancement of economic mineral projects in Brazil, including the Tiros Titanium-Rare Earths Project and the Novo Mundo Gold Project. The Tiros project has 28 mineral concessions totaling 497 km2 located in the state of Minas Gerais, one of the best infrastructurally developed states of Brazil, 350 km from the state capital of Belo Horizonte. Resouro's Mineral Resource Estimate for the Tiros Project contains 165 million tonnes of titanium dioxide and 5.5 million tonnes of total rare earths oxides within a Measured and Indicated Resource of 1.4 billion tonnes.
| Category Million Tonne TiO2 % TREO (ppm) MREO (ppm) | REO/TREO rat | ||||
|---|---|---|---|---|---|
| Measured | 30 | 24 | 9,300 | 2,500 | 27% |
| Indicated | 74 | 23 | 8,900 | 2,300 | 26% |
| M + I 103 23 9,100 2,400 | 26% | ||||
| Inferred | 33 | 22 | 8,300 | 2,200 | 26% |
| Measured | 340 | 11 | 3,700 | 1,000 | 28% |
| Indicated | 930 | 11 | 3,600 | 1,000 | 28% |
| M + I 1,300 11 3,600 1,000 | 28% | ||||
| Inferred | 470 | 11 | 3,400 | 920 | 27% |
| Measured | 367 | 12 | 4,100 | 1,100 | 28% |
| Indicated | 1,000 | 12 | 4,000 | 1,100 | 27% |
| M + I 1,400 12 4,000 1,100 | 28% | ||||
| Inferred | 500 | 12 | 3,700 | 1,000 | 27% |
Note: The information in this announcement that relates to the Mineral Resource Estimate for the Tiros Project is extracted from the Company’s ASX announcement dated 9 April, 2025 (TSX-V: 8 April 2025), which is available at www.resouro.com. The Company is not aware of any new informaOon or data that materially affects the informaOon included in that announcement and that all material assumpOons and technical parameters underpinning the esOmates in that announcement conOnue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original announcement.
Forward-Looking Information
This news release contains certain "forward-looking information" within the meaning of applicable securiZes law. Forward-looking informaZon is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anZcipate", "esZmate" “aim”, “expect”, “contemplate” and other similar words, or statements that certain events or condiZons "may" or "will" occur. Although we believe that the expectaZons reflected in the forward-looking informaZon are reasonable, there can be no assurance that such expectaZons will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representaZon that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking informaZon is based on the opinions and esZmates of management at the date the statements are made and are subject to a variety of risks and uncertainZes and other factors that could cause actual events or results to differ materially from those anZcipated in the forward-looking informaZon. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking informaZon include, but are not limited to: general economic condiZons in Canada and globally; industry condiZons, including governmental regulaZon and environmental regulaZon; failure to obtain industry partner and other third party consents and approvals, if and when required; the need to obtain required approvals from regulatory authoriZes; stock market volaZlity; liabiliZes inherent in the mining industry; compeZZon for, among other things, skilled personnel and supplies; incorrect assessments of the value of acquisiZons; geological, technical, processing and transportaZon problems; changes in tax laws and incenZve programs; failure to realize the anZcipated benefits of acquisiZons and dispositions; and the other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking informaZon contained in this news release is expressly qualified by this cauZonary statement. We undertake no duty to update any of the forward-looking informaZon to conform such informaZon to actual results or to changes in our expectaZons except as otherwise required by applicable securiZes legislaZon. Readers are cauZoned not to place undue reliance on forward-looking information.
Neither the ASX, OTC, TSX Venture Exchange nor its RegulaNon Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Appendix A Summary of Previously Disclosed Novo Mundo Drill Result
This Appendix A summarizes informaZon previously disclosed by the Company in its news release dated September 20, 2022, relaZng to the Novo Mundo Gold Project. The informaZon is included for background and context only and does not consZtute new exploraZon results. No new exploraZon results are being disclosed in this Appendix A.
The Company confirms that the previously disclosed exploraZon results summarized in this Appendix A are unchanged from the original disclosure and that the form and context in which those results are presented have not been materially modified. The September 20, 2022 news release included the applicable Qualified Person disclosure and should be read together with this Appendix A for the original technical disclosure.
In that news release, the Company announced iniZal drill results from its first phase of exploraZon at Novo Mundo. Hole NMDD002 returned 11.65 metres grading 5.1 g/t Au from 65.89 metres, including
- 2.5 metres grading 8.1 g/t Au from 66.39 metres and
• 4.6 metres grading 6.3 g/t Au from 72.94 metres.
The Company stated that these results confirmed broad widths of high-grade mineralizaZon extending to depth below the Dionísio arZsanal workings.
The iniZal drill program was designed to test the strike and plunge conZnuity of mineralized shoots along the Luisão–Dionísio–Modesto mineralized trend and to confirm the presence of high-grade mineralizaZon idenZfied in historical exploraZon.
The Company also reported that re-logging of historical drill holes, mapping and sampling of arZsanal pits and outcrops confirmed the presence of two parallel high-grade shoots approximately 100 metres apart, controlled by at least two major east-west striking structures, with a combined strike length of over 4.5 kilometres.
Figure A-1: Drill hole loca2ons along the Luisão–Dionísio–Modesto trend, as previously disclosed by the Company on September 20, 2022.
Figure A-1 is reproduced from the Company’s September 20, 2022 news release to provide locaZon context for the previously disclosed NMDD002 result. Figure A-2, also reproduced from that release, provides the corresponding drill secZon for NMDD002.
Figure A-2: Drill sec2on for hole NMDD002, as previously disclosed by the Company on September 20, 2022.
As previously disclosed, logging and sampling were undertaken using Resouro’s QA/QC protocols. Samples were submiqed to ALS Laboratories for preparaZon and analysis using industry-standard assay techniques, including fire assay for gold and silver and mulZ-element analysis. The technical content of the September 20, 2022 news release was reviewed and approved by Marcelo Juliano de Carvalho, PhD, then Director and COO of Resouro, and a Qualified Person as defined by NaZonal Instrument 43-101.