Tiros Measured and Indicated Resource increased by 37%
Resouro Strategic Metals Inc.
BC0430203 (Canada) ARBN 671 716 457 (Australia)
Suite 250, 997 Seymour Street, V ancouver, British Columbia, Canada V6B 3M1 – Tel: +1 403 807 2948
Level 10, Kyle House, 27-31 Macquarie Place, Sydney NSW 2000 – Tel: + 61 407 123 143
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ASX: RAU
TSXV: RSM
OTCQB: RSGOF
TSXV Release ASX Release
08 April 2025 09 April 2025
Tiros Measured and Indicated Resource increased by 37%
to 1.4 billion tonnes at 12% TiO2 and 4,000 ppm TREO
Resouro Strategic Metals Inc . (ASX: RAU ; TSX-V: RSM ; FSE: 8TX; OTC QB: RSGOF)
("Resouro" or the " Company") is pleased to announce an update to the Tiros Titanium and
Rare Earth Elements Mineral Resource Estimate (“ MRE”) for the Central Project Block of
the Company’s Tiros Project in Brazil (“Tiros Project” or “Tiros” or “Project”).
Highlights
Measured and Indicated Resources increases by almost 37% to 1.4 billion tonnes:
Measured Resources 367 Mt at 12% TiO₂ and 4,100 ppm TREO,
Indicated Resources 1,000 Mt at 12% TiO₂ and 4,000 ppm TREO,
Total Resources 1,400 Mt1 at 12% TiO₂ and 4,000 ppm TREO
High-grade mineralisation within the MRE:
Measured Resources 30 Mt at 24% TiO₂ and 9,300 ppm TREO,
Indicated Resources 74 Mt at 23% TiO₂ and 8,900 ppm TREO,
Total Resources 104 Mt1 at 23% TiO₂ and 9,100 ppm TREO
The Measured and Indicated Resource contained metals content includes:
a) 165 Mt of contained titanium dioxide (TiO₂),
b) 5.5 Mt of contained Total Rare Earths Oxide (TREO) at a Magnet Rare Earths
Oxide (“MREO”) ratio of 27%
• Includes 1.5 million tonnes contained MREO
1 Refer Appendix 2 JORC Table 1 for rounding explanation
Resouro Strategic Metals Inc.
BC0430203 (Canada) ARBN 671 716 457 (Australia)
Suite 250, 997 Seymour Street, V ancouver, British Columbia, Canada V6B 3M1 – Tel: +1 403 807 2948
Level 10, Kyle House, 27-31 Macquarie Place, Sydney NSW 2000 – Tel: + 61 407 123 143
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Overview
The Mineral Resource Estimate (MRE) update is based on additional assays received from a
46 infill and resource expansion drill program conducted in 2024 ( refer to ASX releases dated
6th February 2025 and 17th March 2025 – TSX-V 5th February 2025 and 16th March 2025). The
revised MRE, tabled below, represents an increase of 37% of measured and indicated resources
(from step-out drilling) and an improved detail of data (from infill drill holes).
Resource Category Million tonnes TiO2% TREO (ppm)
Measured 367 12 4,100
Indicated 1,000 12 4,000
TOTAL 1,400 12 4,000
Table 1: Total MRE tonne and grade using a cut-off grade of 1,000ppm TREO (rounding applied, Appendix 2).
The MRE has an area of high-grade titanium and rare earths mineralisation represented in Table
2 and was modelled by applying a cut-off grade of 8,000 ppm TREO.
Resource Category Million tonnes TiO2% TREO (ppm)
Measured 30 24 9,300
Indicated 74 23 8,900
TOTAL 104 23 9,100
Table 2: High-grade tonne and grade based on a cut-off grade of 8,000ppm TREO (rounding applied, Appendix 2).
The high-grade Measured and Indicated Resource has been increased by 37% in total for no
change in titanium dioxide grade and similar grades for rare earths, Table 3.
Resource Category Change in
tonnes
Change in
TiO2%
Change in
TREO (ppm)
Measured + Indicated +37% 0% -1%
Table 3: The percentage change in Measured and Indicated resources in the high-grade
component of the MRE in tonnes, and grade.
The Central Block MRE represents just under 8% of Resouro’s total tenement holding area in
the Tiros region which spans four project areas called Tiros North, Tiros Central, and in the
south, Sao Gotardo, and Campos Altos (Figure 3).
Resouro Strategic Metals Inc.
BC0430203 (Canada) ARBN 671 716 457 (Australia)
Suite 250, 997 Seymour Street, V ancouver, British Columbia, Canada V6B 3M1 – Tel: +1 403 807 2948
Level 10, Kyle House, 27-31 Macquarie Place, Sydney NSW 2000 – Tel: + 61 407 123 143
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The significance of the current MRE and the potential for further prospective resources across
all tenements can be visualised in Figure 1 and Figure 2. The Tiros project MRE is substantially
larger and higher-grade when compared selectively to other rare earths projects with similar,
characteristics or geographic location. This, combined with the potential for resource expansion
from exploration, places Tiros as a globally significant resource of both titanium dioxide (Figure
2) and rare earths (Figure 1).
Figure 1: Bubble chart of Tiros total and high-grade MRE for rare earths in comparison to selected peer
projects in relation to tonnage of measured and or indicated mineral resources against average grade. The
bubble size reflects the metal content calculated as total resource tonnes times average resource grade,
refer Appendix 1.
This MRE update marks a significant milestone for the Company, establishing it as home to one
of the world’s largest and most significant resources of both titanium dioxide and rare earths. It
also highlights a very high-grade mineralisation zone, which will be the focus of the Company’s
initial scoping study and subsequent feasibility studies, along with the related economic
assessments.
The scale of the titanium resource can be visualised in the Figure 2. Tiros represents one of the
largest contained titanium resources when compared to resources by country and contains more
than 50% of Brazil’s total known titanium resources.
Resouro Strategic Metals Inc.
BC0430203 (Canada) ARBN 671 716 457 (Australia)
Suite 250, 997 Seymour Street, V ancouver, British Columbia, Canada V6B 3M1 – Tel: +1 403 807 2948
Level 10, Kyle House, 27-31 Macquarie Place, Sydney NSW 2000 – Tel: + 61 407 123 143
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Figure 2: Comparing Tiros to a selection of the largest titanium resources by country that are similar in deposit
style and satisfy a similar JORC classification. It excludes igneous or metamorphic hard rock resource
classifications. China is included for reference but does not have resource with a JORC guideline classification .
The Resource for ‘Brazil Other’ are additional to Resouro’s resources. (Source USGS “Critical Minerals of the
United States - Titanium, 1802-T, 2017, and this announcement for Tiros data).
Commenting on the increased Mineral Resource Estimate, Resouro’s
Executive Chairman, Chris Eager, said:
“The Tiros project continues to deliver amazing results, in terms of large tonnage of high TiO2
and TREO grades within continuous near surface layer of friable material with constant grade
and thickness. The next step is to work toward a Proved and Probable Minable Reserves from
the 1.4 billion tonnes Measured and Indicated Resource. The flat lying layer of friable material
at Tiros translates to ease of mine planning with no drilling or blasting and a low stripping
ratio. This facilitates environmentally friendly cut and fill mining with continuous rehabilitation
equating to low mining costs with consistent supply of tonnes and grade to a processing plant.
Designing and optimising a plant for one consistent feed would assist in maintaining consistent
recoveries and processing costs.”
Resouro Strategic Metals Inc.
BC0430203 (Canada) ARBN 671 716 457 (Australia)
Suite 250, 997 Seymour Street, V ancouver, British Columbia, Canada V6B 3M1 – Tel: +1 403 807 2948
Level 10, Kyle House, 27-31 Macquarie Place, Sydney NSW 2000 – Tel: + 61 407 123 143
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Figure 3. Resouro’s mineral right holding at Tiros North, Tiros Central, Sao Gotardo and Campos
Altos.
Key Resource Parameters
Atticus Geoscience (“Atticus”) has modelled this MRE utilising the results of 152 drill holes
across the Tiros central tenements (refer to Figures 4 and 5) including 78 diamond drill holes,
29 air core holes, and 25 auger holes undertaken by Resouro (2023 to 2025) and one ( 1)
diamond drill hole and 19 air core historical drill holes undertaken by previous tenement owners
(Vicenza and Iluka, 2011 and 2016).
A conservative assumption of 1,000 ppm TREO (refer to Figure 10) cut-off was applied to the
resource estimation which delivered an MRE (Measured and Indicated) of 1.4 billion tonnes @
4,000 ppm TREO comprising an outstanding 1,100 ppm MREO (oxides of Pr, Nd, Tb, and Dy)
and 12% TiO2.
The MRE was limited by aerial topography covering 3,300 ha, which represents approximately
7% of the Resouro tenements that comprise the Project area. The MRE excludes neighbouring
Resouro-owned tenements, which indicate further potential for expansion.
Resouro Strategic Metals Inc.
BC0430203 (Canada) ARBN 671 716 457 (Australia)
Suite 250, 997 Seymour Street, V ancouver, British Columbia, Canada V6B 3M1 – Tel: +1 403 807 2948
Level 10, Kyle House, 27-31 Macquarie Place, Sydney NSW 2000 – Tel: + 61 407 123 143
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Figure 4: Plan view of the Resouro tenements including the Tiros Projects with the Tiros Central
block shown that is the subject of this mineral resources estimate
Resouro Strategic Metals Inc.
BC0430203 (Canada) ARBN 671 716 457 (Australia)
Suite 250, 997 Seymour Street, V ancouver, British Columbia, Canada V6B 3M1 – Tel: +1 403 807 2948
Level 10, Kyle House, 27-31 Macquarie Place, Sydney NSW 2000 – Tel: + 61 407 123 143
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Figure 5: Plan view of the Tiros Central block showing drill holes locations
Mineral Resource Estimate
The current Mineral Resource Estimate (Measured and Indicated), at Tiros, applying a 1,000
pm TREO cut -off, presents 1. 4 billion tonnes at 12% TiO2 and 4,000 ppm TREO containing
1,100 ppm MREO with a high-grade zone identified as summarised in Table 4. Drilling data to
support the high-grade (HG) and medium grade (MG) is detailed in the JORC Table 1 in the
Appendix 2. The grade-tonnage curve for the mineral resource estimation is shown in Figure
10.
Table 4: Values in the Mineral Resource Statement have been rounded (refer Appendix 2 JORC Table).
Explanatory Note: This announcement has been drafted to comply with the regulations of
the Canadian Investment Regulatory Organization and, as such, the Company is
DOMAIN Category Million Tonne TiO2 % TREO (ppm) MREO (ppm) MREO/TREO ratio
HG (High Grade) 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%
MG (Medium Grade) 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%
TOTAL (HG+MG) 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 Inc.
BC0430203 (Canada) ARBN 671 716 457 (Australia)
Suite 250, 997 Seymour Street, V ancouver, British Columbia, Canada V6B 3M1 – Tel: +1 403 807 2948
Level 10, Kyle House, 27-31 Macquarie Place, Sydney NSW 2000 – Tel: + 61 407 123 143
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complying with TSX Policy 3.3 Appendix 3E, National Instrument 43-101 – Standards of
Disclosure for Mineral Projects, that disclosure of Mineral Resources or Mineral
Reserves must not disclose any information about a mineral resource or mineral reserve
unless the disclosure
(a) uses only the applicable mineral resource and mineral reserve categories set out
in sections 1.2 and 1.3;
(b) reports each category of mineral resources and mineral reserves separately, and
states the extent, if any, to which mineral reserves are included in total mineral
resources;
(c) does not add inferred mineral resources to the other categories of mineral
resources; and
(d) states the grade or quality and the quantity for each category of the mineral
resources and mineral reserves if the quantity of contained metal or mineral is
included in the disclosure.
The Company therefore makes statements in this document that does not aggregate
inferred resources into measured and indicated but does report inferred resources
separately.
Geology and Interpretation
Titanium dioxide and r are earths oxide mineralization are hosted in the Capacete Formation,
belonging to the Mata da Corda Group. Titanium dioxide is associated with the mineral anatase,
originating from the alteration of perovskite.
The rare earths minerals are distributed throughout the Capacete formation and are a particular
mineralogical feature of this volcano -stratigraphic horizon. The Capacete Formation a
relatively thin stratigraphic unit (refer Figures 6, 7, 8, and 9) that is comprised of interbedded
fine and coarser grained volcanic derived deposits, including what may be ash tuffs, reworked
coarse sediments and volcanoclastic breccias.
The formation is the erosion product of the rocks of the Patos Formation, also belonging to the
Mata da Corda Group. The Patos Formation represents a voluminous stratigraphy of Upper
Cretaceous kamafugite pyroclastic flows and deposits, hosted in the Brasília Belt, southwest of
the São Francisco Craton.