Resouro Completes $2.8m Raising

and Resouro’s Intention to List on the 

Australian Securities Exchange (ASX)

Toronto, Ontario – August 29, 2023 – Resouro Gold Inc. (TSX-V: RAU) (FSE: BU9) (“Resouro” or the “Company”) is pleased to announce that on August 29, 2023 (the “Closing Date”) it closed a brokered private placement offering (the “Offering”) of 10,107,403 common shares in the capital of the Company (“Common Shares”) at a price of $0.28 per Common Share for aggregate gross proceeds of $2,830,000. The Company is pleased to welcome Regal Funds Management as a cornerstone shareholder to the register and would like to thank existing shareholders, prominent institutional and family office resources focused investors, for their continued support for Resouro.

The Offering represents an 87% premium to Resouro’s last capital raising at $0.15 per Common Share in June 2023. The Common Shares issued in connection with the Offering are subject to a statutory hold period of four months.President/CEO and major shareholder of Resouro, Chris Eager, commented:

“We are extremely pleased to welcome additional investment from three high caliber mining investment funds into Resouro. This is a great endorsement of the Tiros project and the work our team is doing on the ground in Brazil to drive shareholder value. The additional capital raised will be put to good use to increase the proposed drill and metallurgical test-work program to build value at the Tiros Rare Earths and Titanium Project. We look forward to continually updating the market as results materialize.”

The Offering was led by Taylor Collison Limited (the “Agent”), which acted as agent for the Offering. As compensation for its services, the Agent received a capital raising fee equal to 6.0% of the aggregate gross proceeds of the Offering (the “Capital Raising Fee”), payable in cash. 
The Company intends to use net proceeds from the Offering to advance exploration on the Company’s Tiros Titanium-REE Project and Novo Mundo Gold Project in Brazil and for general working capital purposes.

Resouro will pursue secondary listing on the Australian Securities Exchange (“ASX”).
Resouro is also pleased to announced it intends to pursue a secondary listing on the Australian Securities Exchange (“ASX”). The ASX dual listing will complement Resouro’s current TSX-V (Canadian) and FSE (Frankfurt) listings and will allow the Company to better service the large Australian investor base currently supporting Resouro. 

The Company has engaged law firm Thomson Geer, lead manager Taylor Collison and Australian Company Director Justin Clyne as Australian representatives to assist Resouro in navigating the application process. Resouro is targeting a listing by the end of 2023, subject to market conditions and being able to satisfy the appropriate ASX listing requirements.  

Shareholders are advised that there is no certainty, or guarantee, that the ASX listing will occur and there is a risk that the ASX may determine that the Company is not an entity suitable for listing on the ASX or the Company may not be able to comply with the requirements and/or satisfy the conditions imposed by the ASX.

Resouro CEO, Chris Eager, commented:

“Through the last two capital raisings we have found that investors in Australia have demonstrated a deep understanding of the rare earths market and the large scale and quality of Resouro’s Tiros Project.  After completion of the latest capital raising Resouro now has a very strong share register including specialist mining funds and prominent mining investors in Australia. In addition, we believe that the ASX has an active retail investor base that has a strong following in the small resources sector. To this end, we believe a listing on the ASX would greatly assist in building shareholder value through increased market exposure and trading liquidity. Resouro will continue to update the market in respect of its secondary listing.”
About Resouro Gold 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 Gold Project in Mato Grosso. Learn more about the Company on its website:
On behalf of the Board of Directors, Chris Eager, President & CEO RESOURO GOLD INC.
For further information, please contact the Company at:Chris Eager,
For Investor inquiries nick@grovecorp.ca416-642-1807
Forward-Looking Information
This news release 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. In particular, forward-looking information in this press release includes, but is not limited to, statements with respect to the completion of the respective transactions contemplated in the Resmin Agreement and Tiros Agreement, including the completion of the Tiros PFS, the Test Work, and the Tiros DFS, along with completion of the earn-ins and share transfers. 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 from 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 conditions 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, including obtaining conditional and final acceptance of the TSXV; the need to obtain required approvals from 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 news release 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 securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.Neither the 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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