Resouro Files Technical Report for Tiros Project

Resouro Strategic Metals Inc. (RSM) has filed an independent NI 43-101 Technical Report for its Tiros Titanium and Rare Earths Project in Brazil. The filing independently validates the Preliminary Economic Assessment (PEA) previously announced in June 2026.

Key financial metrics remain unchanged, featuring an after-tax net present value (NPV) of US$714.9 million at an 8% discount rate, an after-tax internal rate of return (IRR) of 44.2%, and a payback period of 1.9 years. The project requires an upfront gross capital requirement of US$191.2 million, with total gross capital reaching US$250.8 million. The development strategy is capital-efficient and staged, centered on a 500,000 tonnes per annum (tpa) starter operation with a 20-year mine life. This starter operation targets approximately 9.5 million tonnes of high-grade run-of-mine material, representing less than 1% of the 1.4 billion tonne Measured and Indicated Mineral Resource.

A technical correction was made regarding an overstatement of acid reagent consumption in the process model. This adjustment was offset by a corresponding revision in reagent unit pricing, resulting in no net change to the previously reported NPV or financial metrics. Norda Stelo Inc. led the report, with multiple independent Competent Persons reviewing specific aspects under JORC and NI 43-101 standards.

Resouro Strategic Metals Inc. (RSM) released a technical report to satisfy NI 43-101 compliance and provide independent validation of the assumptions outlined in its June 2026 Preliminary Economic Assessment (PEA). The PEA previously established the project's strong economics, highlighting a US$715M net present value (NPV) and a 44.2% internal rate of return (IRR).

The technical report includes a minor adjustment to acid reagent consumption and pricing, which the company states has no net impact on the financial model. The filing confirms management's earlier statements regarding the staged development approach, featuring a 500,000 tonnes per annum (tpa) starter phase and low upfront capital expenditure. These elements were already highlighted in the June presentation and supplementary data.

The release does not introduce new financial metrics, revised resource estimates, or changed project timelines.

Resouro Strategic Metals Inc. is a mineral exploration and development company focused on the Tiros Titanium and Rare Earths Project and the Novo Mundo Gold Project in Brazil. The flagship Tiros Project is located in Minas Gerais, Brazil, spanning 497 km² across 28 mineral concessions. The project hosts a globally significant 1.4 billion tonne Measured and Indicated Mineral Resource at 12% TiO2 and 4,000 ppm TREO. A high-grade domain of 103 Mt at 23% TiO2 and 9,100 ppm TREO forms the basis for the proposed starter operation.

The project utilizes a dual-revenue model, targeting both titanium dioxide (coarse and fine anatase concentrate) and mixed rare earth carbonate (MREC). Mining is planned via conventional open-pit strip mining of near-surface, free-digging weathered clay, minimizing excavation costs. Management transition occurred in August 2025, with Christopher Eager appointed as CEO and Chairman, replacing Alistair Stephens.