Resouro Strategic Metals Files Mining Concession Application for Novo Mundo Gold Project in Brazil

Mining Concession Application Advances Novo Mundo Project Permitting

Resouro Strategic Metals, a Canadian mineral exploration and development company focused on Brazil, has reached a significant regulatory milestone with the submission of its Mining Concession Application for the flagship Novo Mundo Gold Project. The company’s wholly owned Brazilian subsidiary, Ison do Brasil Mineração Ltda., lodged the application for ANM Process No. 866.035/2009 on 16 July 2026. This step represents the next essential phase in the company’s licensing process toward commercial-scale gold production. The application covers approximately 930 hectares and supports the ongoing trial mining operations at Novo Mundo under a previously disclosed Binding Mining and Processing Agreement.

Chief Executive Officer Christopher Eager highlighted the submission as a pivotal regulatory advancement toward converting the trial operation into a fully licensed, long-term producing asset. This lodgement demonstrates Resouro’s consistent execution of its permitting strategy within the Alta Floresta Gold Province and moves the company closer to establishing Novo Mundo as a sustainable cash-generating operation. Once approved by Brazilian authorities, the Mining Concession will authorize long-term commercial mining at the site, transitioning the project from trial to full production.

Strategic Location of Novo Mundo in Brazil’s Premier Gold Region

The Novo Mundo Gold Project is situated in Mato Grosso state, placing Resouro within the highly prospective Alta Floresta Gold Province. This region is recognized as one of Brazil’s most prolific gold-producing areas, offering substantial geological potential alongside established mining infrastructure. The province’s history of gold discovery and production makes it an attractive jurisdiction for mineral development, with Resouro positioned as a growing gold developer with a meaningful operational footprint.

Mato Grosso’s regulatory framework and infrastructure have supported mining activities for decades. By advancing Novo Mundo through Brazil’s permitting system, Resouro leverages the established mining ecosystem and service sectors that facilitate commercial operations. The project is operated by the company’s wholly owned Brazilian subsidiary, Ison do Brasil Mineração Ltda., ensuring direct operational control and compliance with Brazilian regulations. This structure underscores Resouro’s commitment to building a sustainable presence in one of South America’s key gold-producing jurisdictions.

Trial Mining Operations Under Guia de Utilização License

Before submitting the Mining Concession Application, Resouro conducted trial mining at Novo Mundo under a Guia de Utilização (trial mining license), established pursuant to a previously announced Binding Mining and Processing Agreement. This interim license has enabled the company to perform operational activities, test mining methods, and validate project economics while progressing through the formal permitting process. The trial phase is a standard regulatory requirement in Brazil’s mining development pathway, allowing companies to demonstrate operational viability before obtaining full commercial licenses.

The Guia de Utilização acts as a transitional license between initial mineral claims and formal mining concession status. Under this framework, Resouro has conducted mining and processing activities on the roughly 930-hectare area covered by ANM Process No. 866.035/2009. Data and operational experience gathered during the trial phase underpin the Mining Concession Application. Upon concession approval, the company will shift from temporary authorization to a long-term commercial mining license, enabling sustained production and further infrastructure investment.

Resouro’s Diverse Mineral Portfolio Across Brazil’s Key States

Resouro Strategic Metals maintains a diversified mineral portfolio across Brazil’s most developmentally advantageous regions. In addition to the Novo Mundo Gold Project in Mato Grosso, the company’s flagship asset is the Tiros Titanium and Rare Earth Elements Project, comprising 28 mineral concessions totaling 497 square kilometres in Minas Gerais state. Minas Gerais is renowned for its developed mining infrastructure, transportation networks, and technical expertise. This geographic and commodity diversification—including gold, titanium, and rare earth elements—positions Resouro to benefit from varying commodity cycles and market demands.

The Tiros Project is supported by a JORC-compliant Mineral Resource Estimate and a Preliminary Economic Assessment for an initial operation, demonstrating progress toward advancing multiple development assets. By operating across distinct projects and commodities, Resouro reduces concentration risk while building a portfolio of development-stage assets within politically and administratively stable Brazilian jurisdictions. This multi-project approach aligns with the company’s goal of discovering and developing economic mineral projects in Brazil’s established mining regions.

Permitting Process and Path to Commercial Production

The Mining Concession Application submission marks the next formal step in the ANM (Agência Nacional de Mineração) licensing process for Novo Mundo. Following its 16 July 2026 submission, the application will undergo evaluation by Brazilian regulatory authorities, including technical review, environmental compliance checks, and administrative processing. The company has not disclosed specific approval timelines or provided guidance on the regulatory review duration. Historically, mining concession processing in Brazil can take several years depending on project complexity, stakeholder input, and regulatory capacity.

Once granted, the Mining Concession will enable Resouro to transition from trial mining to long-term commercial mining authorization. This approval is critical for moving from limited-scale operations to full production and capital investment in mining infrastructure. CEO Christopher Eager noted that approval will support Novo Mundo’s establishment as a sustainable cash generator, underscoring commercial mining as a key element of Resouro’s growth and revenue strategy. Investors will likely monitor regulatory updates and approval timelines as indicators of project progress and near-term production potential.

Binding Mining and Processing Agreement Underpinning Project Advancement

The Novo Mundo Gold Project’s development is supported by a previously announced Binding Mining and Processing Agreement, which sets the contractual framework for trial mining and future commercial operations. This agreement defines operational rights, processing arrangements, and performance obligations for mining activities on the project. Having a formal binding agreement reduces execution risk by securing necessary commercial arrangements to advance from exploration to operational mining.

The Guia de Utilização trial mining license issued under this agreement has allowed Resouro to conduct hands-on operations and collect essential data to validate project economics and mining methods. This staged approach—from binding agreement to trial operations to formal Mining Concession Application—reflects industry best practices and aligns with Brazilian mining development regulations. The agreement likely includes provisions covering equipment, processing capacity, personnel, and operational standards to support both trial validation and the transition to long-term commercial production upon concession approval.

Resouro’s Strategic Growth in the Alta Floresta Gold Province

The company’s update highlights that lodging the Mining Concession Application strengthens Resouro’s position as a growing gold developer with a significant presence in the Alta Floresta Gold Province. This reflects a strategic focus on establishing a sustainable, production-oriented footprint in one of Brazil’s most prolific gold-producing regions. The Alta Floresta Province has a documented history of significant gold deposits and producing mines, supported by established supply chains, service providers, and technical expertise.

By advancing Novo Mundo toward commercial licensing, Resouro distinguishes itself as a project developer progressing beyond exploration to production-stage operations. CEO Christopher Eager emphasized that the Mining Concession Application demonstrates steady execution of the company’s permitting strategy in the Alta Floresta Province, reflecting a disciplined, stepwise regulatory approach. This progress aims to position Resouro as a credible gold producer capable of delivering sustainable cash flow from a high-quality project in a well-established mining region.

Qualified Person Review and Technical Assurance

The technical and scientific information regarding the Novo Mundo Gold Project in the company update has been reviewed and approved by Mr Rodrigo Mello, FAusIMM (Membership No. 209332), a consultant to Resouro Strategic Metals Inc. Mr Mello is a Qualified Person under National Instrument 43-101 and a Competent Person as defined by the 2012 Australasian Code for Reporting of Exploration Results, Mineral Resources, and Ore Reserves. His endorsement confirms that the disclosed project information meets professional and regulatory standards.

Mr Mello’s review certifies his relevant experience with the mineralization style and deposit type, as well as the exploration and technical activities undertaken. The Competent Person statement provides assurance to investors regarding the credibility and accuracy of the technical details. Mr Mello is also a Resouro shareholder, indicating alignment of interest with the company’s success.

Regulatory and Operational Risks in Brazilian Gold Mining Development

While the Mining Concession Application submission marks regulatory progress, the Novo Mundo project remains subject to risks typical of Brazilian mining developments. These include potential variations in mineral grade and recovery, geological and drilling challenges, equipment or process failures, labor disputes, title issues, and regulatory changes. The company’s risk disclosures note that actual exploration results and mineral reserve estimates may differ materially from expectations, reflecting inherent uncertainties.

Brazilian regulatory and political risks are company-specific considerations for Resouro. Changes in national or local legislation, regulations, or political and economic conditions could affect project timelines, costs, or feasibility. Additionally, the timing and outcome of the Mining Concession approval depend on regulatory processes, administrative capacity, and stakeholder inputs. The company acknowledges that obtaining necessary licenses and permits carries no guarantee of approval or prompt issuance. Investors should closely monitor regulatory developments and permitting timelines as key factors influencing Novo Mundo’s path to commercial production.