Resouro Gold Inc. announced that the Company has initiated a work program at the Tiros Titanium-REE Project where Resouro recently acquired a 33% stake with a farm-in agreement for a 90% interest announced on February 15, 2023. The Tiros Project represents 10 mineral concessions totaling 152 km2 located in Minas Gerais, one of the most infrastructurally developed states of Brazil, 350 km from Belo Horizonte, the state capital. The Tiros licenses cover the most prospective portion of the prolific Capacete Formation and the areas with the exploration potential.

Resouro's team has commenced an initial work program consisting of the following: Building and verifying the database of historic data. Preparation of two 100 kg composite samples from historic drilling. Planning of an Auger drilling progam utilising the Auger drills owned by the Company.

Planning of an aircore drilling program to have sufficient data to produce NI 43-101 compliant resource. Developing metallurgical testwork flowsheets. Selection of a metallurgical laboratory in Brazil for initial Titanium and Rare Earth concentation.

Appointment of a UK-based specialist metallurgical laboratory for specialist TiO2 and REE testwork. The initial work program, once completed and all results received and interpreted, will be followed by: Planning of Environmental Impact Assessment. Planning of Environmental and Social Governance programs. Initial conceptual strip mining planning studies and mine rehabilitation studies.

Further assessment of the infrastructure and initial capital and operating cost assessment. Sementing and analysing the REE and TiO2 offtake market. Tiros Project Highlights: 10 Mineral Concessions totaling 152 km2 and covering 70 km of the NE trending Tiros sedimentary sequence.

Extensive horizontally bedded near surface and outcropping Capacete Formation formed from the erosion and deposition of the volcaniclastic rocks of the Alkaline province of Alto Paranaiba. The Tiros licenses cover most prospective portions of the Formation and the areas with the exploration potential. Historical data for Tiros includes: 1,033 m of drilling from 21 holes within the concessions; GPR Profiles - subsurface imagery; Aerial geophysical Magnetic and Gamma survey; Remote sensing studies; Preliminary metallurgical studies on the Titanium beneficiation; Mineralogy studies and weathering profile characterization; Verification and re-assaying of the available core/drilling material.