Resouro Strategic Metals Inc. (RSGOF) MOU with RETI for REE Extraction & Processing Collaboration

On November 12, 2025, Resouro Strategic Metals announced it has signed a non-binding Memorandum of Understanding (MOU) with Rare Earth Technologies Inc. (RETI). The collaboration is focused on testing and potentially developing a process for extracting and separating rare earth elements (REE) from Resouro's Tiros project in Brazil.

The MOU outlines a three-phase approach: - Phase I: Initial test work where RETI will process ore samples from Resouro's Tiros project to validate its proprietary technology on a project scale. - Phase II: If Phase I is successful, the companies will conduct a midstream feasibility study and negotiate a potential definitive MOU. - Phase III: A potential joint venture to construct a full-scale processing plant for REEs.

Resouro's CEO, Chris Eager, stated this could be a major step towards making their planned Campos Altos Critical Metals Park a secure supplier of rare earths. RETI's President, Steve Levin, expressed confidence that their technology can address the technical, economic, and environmental challenges of REE refining and separation.

This MOU is a logical and necessary step in de-risking the downstream processing component of the Tiros project. While Resouro has previously focused on the Fusion Sulphuric Acid Leach (FSAL) process to produce a mixed rare earth carbonate (MREC), this agreement with RETI addresses the subsequent, critical stage of separating the MREC into individual, marketable rare earth oxides. This demonstrates foresight in planning the entire value chain from mine to finished product.

However, the impact is currently limited for several key reasons: 1. Non-Binding Nature: The MOU is non-binding and represents an early-stage agreement to conduct tests. There is no guarantee that the collaboration will advance to Phase II or III. 2. Early Stage: The announcement is for initial test work. The technical and economic viability of RETI's proprietary technology at scale on Tiros material is unproven. 3. No Financial Commitment: The release does not detail any significant financial commitments from either party, underscoring its preliminary nature.

In the context of historical news, this MOU complements, rather than replaces, the existing metallurgical strategy centered on the FSAL process with YM Servicos. It shows the company is actively seeking solutions for the most complex part of the REE supply chain.

The announcement is positive as it signals progress and strategic planning. However, it does not materially alter the company's financial position or the fundamental risks associated with the project's development. It is a routine step for a developer at this stage. The market reaction should be muted until successful test results from Phase I are announced, or a definitive, binding agreement is signed.

Resouro Strategic Metals Inc. is a Canadian-based, dual-listed (TSXV: RSM, ASX: RAU) exploration and development company. Its flagship asset is the Tiros Titanium and Rare Earths Project, located in the mining-friendly state of Minas Gerais, Brazil.

The Tiros project hosts a massive, near-surface mineral resource. The April 2025 updated NI 43-101 report outlined a Measured and Indicated resource of 1.4 billion tonnes at 12% Titanium Dioxide (TiO2) and 4,000 ppm Total Rare Earth Oxides (TREO). This includes a high-grade near-surface zone of 104 million tonnes at 23% TiO2 and 9,100 ppm TREO. The company's strategy is to advance the project through economic studies, focusing on innovative metallurgical processes to recover both titanium and a suite of valuable rare earth elements. The project is royalty-free, apart from standard Brazilian government royalties.