Resouro Enters into MOU with the Government of Minas Gerais
Resouro Strategic Metals Inc.
BC0430203 (Canada) ARBN 671 716 457 (Australia)
Level 10, Kyle House, 27-31 Macquarie Place, Sydney NSW 2000 – Tel: + 61 407 123 143
Suite 250, 997 Seymour Street, Vancouver, British Columbia, Canada V6B 3M1 – Tel: +1 403 807 2948 Page 1 of 7
ASX: RAU
TSXV: RSM
OTCQB: RSGOF
TSXV/OTCQB Release: ASX Release:
26 November 2024 27 November 2024
Resouro Enters into MOU with the Government of Minas Gerais
and Invest Minas to Facilitate the Development of the Tiros
Titanium and Rare Earths Project
Resouro Strategic Metals Inc. (ASX: RAU ; TSX-V: RSM ; FSE: 8TX ; OTC QB: RSGOF)
("Resouro" or the " Company") is pleased to announce that its subsidiary, Tiros Minerais
Estratégicos Mineração Ltda. (¨TMEL”), has signed a non-binding Memorandum of
Understanding (“MOU”) with the Minas Gerais State Economic Development Department
(“SEDE”) and the Integrated Economic Development Institute (“Invest Minas”).
The MOU was signed in the Governor’s room at the Industry Federation of Minas Gerais State
(“FIEMG”). The State Secretary of Economic Development, Mr. Fernando Pass alio,
represented the Government of Minas Gerais and Mr. João Paulo Braga, represented Invest
Minas. Chris Eager, Resouro’s Executive Chairman represented the Company , together with
CEO, Alistair Stephens, and Executive Director, Philippe Martins.
The purpose of the MOU is to provide the foundations for a partnership for the State of Minas
Gerais and Invest Minas to assist with the advancement of Resouro’s Tiros Titanium and Rare
Earths Project (“Tiros Project” or “ Project”). The partnership will enable the Company to
collaborate with Invest Minas to fast track the Project’s development towards permitting,
construction and mining.
Key Terms of the MOU
The MOU sets general c ommitments and efforts of each of the p arties to achieve goals and
objectives for the Project ’s development. The key commitments and efforts of the respective
parties to the MOU are:
Invest Minas:
1. Provide support for T MEL during the various stages of development of the Tiros
Project, including:
• Facilitating contact with government agencies;
• Assisting in the process of Project approval and licensing;
Resouro Strategic Metals Inc.
BC0430203 (Canada) ARBN 671 716 457 (Australia)
Level 10, Kyle House, 27-31 Macquarie Place, Sydney NSW 2000 – Tel: + 61 407 123 143
Suite 250, 997 Seymour Street, Vancouver, British Columbia, Canada V6B 3M1 – Tel: +1 403 807 2948 Page 2 of 7
• Introducing and promoting interactions with suppliers to support the Company's
activities;
• Collaborating with the Project to sustain investments in the supply chain for raw
materials and materials for permanent magnets and titanium-based composites
in Minas Gerais;
• Facilitating bilateral connections and forming partnerships for local value
chain investments;
• Considering and facilitating the implementation of supply contracts for
companies interested in establishing themselves in the state; and
• Seek partnerships and sector development.
TMEL:
1. Development of the Tiros Project:
• Investing in additional exploratory activities and developing a titanium and rare
earth mining operation in Minas Gerais;
• Conducting the necessary economic studies to progress to the construction,
development and production phases of the Project;
• Investing in mining and processing facilities; and
• Creating approximately 200 direct jobs during the construction, development,
and operational phases.
2. Social and sustainability commitments:
• Preferentially using local suppliers and hiring local talent whenever possible
and commercially viable; and
• Identifying local infrastructure needs and supporting investments that contribute
to strengthening the sector for strategic raw materials and materials.
3. Partnerships and collaboration:
• Supporting Invest Minas in developing the supply chain for permanent magnets
and titanium-based materials; and
• Transferring knowledge and expertise to promote the sector within the state.
4. Planning future operations:
• Operating with appropriate permitting and licenses; and
• Implementing strategies with the aim of achieving an annual ore processing
capacity exceeding 5 million tons of rare earths and titanium ore.
Resouro Strategic Metals Inc.
BC0430203 (Canada) ARBN 671 716 457 (Australia)
Level 10, Kyle House, 27-31 Macquarie Place, Sydney NSW 2000 – Tel: + 61 407 123 143
Suite 250, 997 Seymour Street, Vancouver, British Columbia, Canada V6B 3M1 – Tel: +1 403 807 2948 Page 3 of 7
Commenting on the signing of the MOU and the establishment of this vital
partnership, Resouro’s Executive Chairman, Chris Eager, commented:
“The State Government of Minas Gerais has demonstrated great support for
the development of the Tiros Project. The signing of this Memorandum of
Understanding consolidates Resouro´s existing excellent relationship with the people of Minas
Gerais, who we see as key stakeholder s in the Tiros Project . Through our collaboration with
Invest Minas and the State Secretariat for Economic Development, we will gain critical support
in navigating regulatory processes, establishing strategic partnerships, and integrating with
local suppliers and talent. Formalising this partnership will help accelerate development of
the Project, bringing significant investments, job creation, and fostering a robust supply chain
for titanium and rare earth materials in Minas Gerais. Together, we are driving sustainable
growth and aiming to position the region as a global hub for critical minerals.”
The MOU also has the following terms:
• Term in years: The MOU is valid for 3 years.
• Non-binding document: The MOU is non-binding and does not create legal
obligations or liabilities between the parties.
• Notice period for termination in writing: Either party may terminate the MOU with
a three-month prior written notice to the other party.
• Settlement of disputes: Disputes will be resolved directly between the parties, without
the obligation to seek third -party assistance. If unresolved, the applicable governing
law will be Brazilian Law.
Resouro Strategic Metals Inc.
BC0430203 (Canada) ARBN 671 716 457 (Australia)
Level 10, Kyle House, 27-31 Macquarie Place, Sydney NSW 2000 – Tel: + 61 407 123 143
Suite 250, 997 Seymour Street, Vancouver, British Columbia, Canada V6B 3M1 – Tel: +1 403 807 2948 Page 4 of 7
Resouro’s Executive Chairman, Chris Eager, with Fernando Passalio, Secretary of State for
Economic Development of Minas Gerais, at the MOU Signing Ceremony.
From Left to Right: Henrique Tavares, Joao Braga, Ana Sullato, Chris Eager, Fernando Passalio,
Alistair Stephens and Phillipe Martins.
This announcement has been authorized for release by the Board of Directors.
Resouro Strategic Metals Inc.
BC0430203 (Canada) ARBN 671 716 457 (Australia)
Level 10, Kyle House, 27-31 Macquarie Place, Sydney NSW 2000 – Tel: + 61 407 123 143
Suite 250, 997 Seymour Street, Vancouver, British Columbia, Canada V6B 3M1 – Tel: +1 403 807 2948 Page 5 of 7
Contact Information:
Chris Eager, CEO
+44 7388 0579809
Alistair Stephens, CEO
+61 488 992 544
Melissa Hamilton, Media,
+61 417 750 274
About Invest Minas
Invest Minas’ purpose is to attract investment to the State of Minas Gerais, Brazil. To achieve
this goal, it seeks, among other actions, to facilitate cooperation between private companies,
investors, and the public administration. One of its main objectives is to increase the level of
employment and reduce the regional and social inequalities in the State, for which it is essential
to protect existing investments, encourage new ones that streamline and modernize production
in the State and form partnerships with the private sector. Invest Minas, with a number of rare
earth and lithium companies already within its regions, is focused on not only supporting these
companies to develop their rare earth and lithium resources but also to extend this support
towards building an integrated lithium battery sector. This extends investment beyond the mine
to include downstream activities such as the production of battery materials. Invest Minas’ role
is to enable future investment and partnerships that support the expansion and growth of the
sector.
About the Company
Resouro is a Canadian incorporated mineral exploration and development company, listed on
the ASX, TSXV, OTC QB and FSE, focused on the discovery and advancement of economic
mineral projects in Brazil, including the Tiros Titanium and Rare Earths and project in Minas
Gerais and the Novo Mundo Gold Project in Mato Grosso. The Tiros project represents 2 8
mineral concessions totalling 4 97 km2 located in the state of Minas Gerais, one of the most
infrastructurally developed states of Brazil, 350 km from Belo Hor izonte, the state capital.
Resouro has released a Mineral Resource Estimate for the Tiros Project of 1. 7 bn tonnes of
Inferred, Indicated and Measured Resource (reference: ASX release ASX: RAU dated 18th July
2024, TSXV 17th July 2024).
DOMAIN CAT TONNES (t) TiO2 (%) TREO (ppm) MREO (ppm)
HG (High Grade)
Inferred 42,000,000 23 8,700 2,200
Indicated 55,700,000 23 9,030 2,380
Measured 20,800,000 24 9,320 2,530
Sum 120,000,000 23 9,000 2,400
MG (Medium
Grade)
Inferred 620,000,000 11 3,500 950
Indicated 704,000,000 11 3,650 1,020
Measured 224,000,000 11 3,570 997
Sum 1,500,000,000 11 3,500 930
Totals 1,700,000,000 12 3,900 1,100
Resouro Strategic Metals Inc.
BC0430203 (Canada) ARBN 671 716 457 (Australia)
Level 10, Kyle House, 27-31 Macquarie Place, Sydney NSW 2000 – Tel: + 61 407 123 143
Suite 250, 997 Seymour Street, Vancouver, British Columbia, Canada V6B 3M1 – Tel: +1 403 807 2948 Page 6 of 7
Note: Further details of the Company’s Maiden JORC MRE are contained within the Company’s announcement
of 18 July, 2024. Resouro is not aware of any new information or data that materially affects the information
included in the Company’s announcement of 18 July 2024 and that all material assumptions and technical
parameters underpinning the estimates referred to therein continue to apply and have not materially changed
Forward-Looking Information
This announcement contains certain "forward -looking information" within the meaning of
applicable securities law. Forward -looking information is frequently characterized by words
such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other
similar words, or statements that certain events or conditions "may" or "will" occur. Although
we believe that the expectations reflected in the forward -looking information are reasonable,
there can be no assurance that such expectations will prove to be correct. We cannot guarantee
future results, performance or achievements. Consequently, there is no representation 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 information is based on the opinions and estimates of management at the
date the statements are made and are subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ materially fr om those anticipated in
the forward -looking information. Some of the risks and other factors that could cause the
results to differ materially from those expressed in the forward -looking information include,
but are not limited to: general economic conditi ons in Canada and globally; industry
conditions, including governmental regulation and environmental regulation; failure to obtain
industry partner and other third party consents and approvals, if and when required; the need
to obtain required approvals fr om regulatory authorities; stock market volatility; liabilities
inherent in the mining industry; competition for, among other things, skilled personnel and
supplies; incorrect assessments of the value of acquisitions; geological, technical, processing
and transportation problems; changes in tax laws and incentive programs; failure to realize
the anticipated benefits of acquisitions and dispositions; and the other factors. Readers are
cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this announcement is expressly qualified by this
cautionary statement. We undertake no duty to update any of the forward-looking information
to conform such information to actual results or to changes in our expectations except as
otherwise required by applicable securitie s legislation. Readers are cautioned not to place
undue reliance on forward-looking information.
Resouro Strategic Metals Inc.
BC0430203 (Canada) ARBN 671 716 457 (Australia)
Level 10, Kyle House, 27-31 Macquarie Place, Sydney NSW 2000 – Tel: + 61 407 123 143
Suite 250, 997 Seymour Street, Vancouver, British Columbia, Canada V6B 3M1 – Tel: +1 403 807 2948 Page 7 of 7
Neither the ASX, OTC, TSX Venture Exchange nor its Regulation 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.
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