Resouro Selects Flowsheet for Tiros PEA Confirmation test work focused on recovering high grade titanium and rare earth elements now underway at SGS Lakefield in Canada
Resouro Strategic Metals• Press release (November 26, 2025) • v5 Page 1 of 4
TSX-V News Release ASX News Release
26 November 2025 27 November 2025
Resouro Selects Flowsheet for Tiros PEA
Confirmation test work focused on recovering high grade titanium and
rare earth elements now underway at SGS Lakefield in Canada
Resouro Strategic Metals Inc. (ASX: RAU; TSX-V: RSM; FSE: 8TX; OTCQB: RSGOF)
(“Resouro” or the “Company”) has reached the final step on the path toward completing
a Preliminary Economic Assessment (PEA) for its High Grade Titanium and Rare Earth
Elements Tiros Project in Minas Gerais, Brazil (Tiros or Tiros Project).
After 18 months of exhaustive metallurgical test -work on several hydrometallurgical
and pyrometallurgical processes, a process flowsheet has been developed and selected
which will allow the Company to define capital and operating costs, recoveries, and
product specifications for the Tiros Project PEA.
“This flowsheet was chosen because it uses a combination of conventional technologies and
the majority of equipment can be sourced in Brazil,” said Christopher Eager, Resouro’s
Chairman and CEO. “We are continuing to test alternative technologies to include in trade
off studies—like the recently announced MOU with Rare Earth Technologies of Cincinnati,
Ohio—for the upcoming preliminary feasibility study.” (Refer ASX announcement of 13
November 2025 / TSX-V 12 November 2025).
Flowsheet based on characterization and minerology of Tiros mineralization
The flowsheet applies a combination of conventional processing technologies aimed at
producing a course-grained Titanium Dioxide product, a fine-grained Titanium Dioxide
product, and mixed Rare Earth Sulfate which could be further processed to produce a
mixed rare earth carbonate or oxide.
The flowsheet ( shown in Figure 1 ) is based on the characterization and mineralogy of
the Tiros mineralization, while also taking product marketing guidelines into
consideration. The flowsheet has two main processing streams:
• a coarse particle treatment stream designed to recover a high -grade titanium
concentrate for sale to traditional titanium markets, through the use of mineral
dressing technologies, and some calcination / leaching technologies; and
• a fine particle treatment stream optimized for the recovery of a fine titanium powder,
Resouro Strategic Metals• Press release (November 26, 2025) • v5 Page 2 of 4
as well as rare earth elements, by using a calcination / acid baking / leach process.
Figure 1. Tiros Project Process Flowsheet
Developed by a team of experts
The flowsheet was developed by the Resouro technical team in Brazil under the
direction of Dr Lino Freitas and Steve Williams of Blue Coast Research, British
Columbia.
Dr. Freitas has a PhD in Extractive Metallurgy from Polytechnique Montr éal, Canada,
and is a professor of mineral processing at the Escola Superior de Engenharia de Minas
Gerais. He has extensive experience in titanium and rare earths processing at Vale,
AMEC, and SNC Lavalin in Brazil.
Mr. Williams has worked in the mining industry, in Australia, Canada , and South
America for more than four decades. The author of many acclaimed geometallurgy
papers, he became a CIM Distinguished Lecturer in 2004, followed by a CIM Fellow,
for his notable work in geometallurgy.
The result of extensive test work
Test work has been completed at SGS Geosol and CIT SENAI in Belo Horizonte and
SGS Lakefield in Canada. Further confirmation test work is currently underway at SGS
Lakefield after which Resouro will report recoveries, mass balances , and product
specifications according to NI 43-101 standards.
Resouro Strategic Metals• Press release (November 26, 2025) • v5 Page 3 of 4
This announcement has been authorized for release by Resouro’s Board of Directors.
Contact Information, Resouro:
Christopher Eager
CEO and Executive Chairman
+44 7388 0579809
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
totalling 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.
Note: Further details of the Company’s JORC MRE are contained within the Company’s ASX announcement of 9 April,
2025/TSX-V 8 April 2025. Resouro is not aware of any new information or data that materially affects the information
included in the Company’s announcement and that all material assumptions and technical parameters underpinning the
estimates referred to therein continue to apply and have not materially changed.
Competent Person Statement
The information in this announcement that relates to Mineral Resources, Preliminary Economic Assessment and
Metallurgical Test Work is based on, and fairly represents, information compiled and approved by Mr. Rodrigo Mello,
a Competent Person who is a Fell ow of The Australian Institute of Mining and Metallurgy (FAusIMM 209332). Mr
Mello is a consultant for Resouro Strategic Metals Inc. and has sufficient experience that is relevant to the style of
mineralisation and the type of deposit under consideration a nd to the activity being undertaken to qualify him a a
Competent Person as defined in the 2012 Edition of the “Australian Code for Reporting of Exp loration Results,
Mineral Resources and Ore Reserves ”. Mr. Mello has a financial interest in the Project, both as the owner of a
minority stake (10% free carried interest) and as a minority shareholder of Resouro. Mr. Mello consents to the
inclusion of this information in this announcement of the matters based on his information in the form and context
in which it appears.
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%
Resouro Strategic Metals• Press release (November 26, 2025) • v5 Page 4 of 4
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