REG - Rome Resources PLC - Proposed Strategic Diversification

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RNS Number : 9512V  Rome Resources PLC  10 March 2026

This announcement contains inside information for the purposes of Regulation
11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the
publication of this announcement via a Regulatory Information Service, this
inside information is now considered to be in the public domain.

 

10 March 2026

 

 

Rome Resources plc

("Rome Resources", "Rome" or the "Company")

 

Proposed Strategic Diversification into Canadian Tin and Critical Metals
Exploration

 

Option to acquire working interests in early-stage exploration licences across
109 km(2) of mining claims in the Canadian Province of New Brunswick

 

Rome Resources plc (AIM: RMR), the DRC-focused tin and copper explorer, is
pleased to announce its proposed strategic expansion into Canada, one of the
world's premier mining jurisdictions.

 

Rome Resources has entered into an option agreement (the "Option") to acquire
working interests in early-stage exploration licences across 109 km(2) of
mining claims in the Canadian Province of New Brunswick, close to the Mount
Pleasant deposit, hosting the Three Lakes and Schoullar Mountain Projects (the
"Projects").

 

Three Lakes and Schoullar Mountain Projects, SW New Brunswick:

The Projects under the Option cover over 109km(2) of exploration acreage to
the east of Mount Pleasant, a mothballed legacy tungsten-molybdenum and
tin-indium project in the southwestern part of New Brunswick, close to the US
border.  The acreage lies only 40km from the important deepwater port of St.
John, NB.

The claims are situated in two areas (Figure 1):

(i)            Area 1: Three Lakes - 75.3km(2) of mining claims
along the crestal greisenised part of the Mount Douglas Granite, where
numerous mineral showings principally for tin, tungsten and indium have been
described; and

(ii)           Area 2: Schoullar Mountain - 33.8km(2) of mining
claims directly east of the Mount Pleasant mine, along the southern margin of
the tin-molybdenum-tungsten-indium bearing volcanic caldera and granite
complex, where limited exploration has taken place to date.

Tin showings in Area 1 (Three Lakes) have been assayed at up to 1.4% tin from
surface sampling.  Exploration of these two promising areas will take the
form of further surface sampling, geophysical surveys and core drilling.

Within the Three Lakes Project area are the Spruce Lake tin-tungsten-indium
and Smith Lake tin Projects which are located in the highly evolved final
phase of the Mount Douglas Granite. These potential deposits are associated
with three terrane boundary crustal scale faults, providing long-lived
mineralisation pathways.  Multiple new greisen vein clusters have been
identified that occur within a core 3.5 by 4.6 km zone of the final phase of
the Mount Douglas Granite.  However, the potential total linear
southwest-northeast strike length of the feature is in the region of 15km
under licence to Rome.

Area 2 (Schoullar Mountain) is directly along geological strike from the Mount
Pleasant Mine and is particularly under-explored despite its location along
the southern margin of the granite-caldera complex that hosts resources of a
range of critical mineral deposits, including rare elements such as indium.

New Brunswick launched its new Critical Minerals Strategy earlier in March
2026, which the Canadian Energy and Natural Resources Minister Tim Hodgson
promised would 'get shovels in the ground, new minerals to market and generate
economic opportunity in the province'.

Figure 1.  Location Map

 

Background to and strategy for the Option

 

The board of directors of Rome Resources (the "Board" or the "Directors")
considers that this Option represents a low-cost, high-potential entry point
into a region with a strong pedigree for critical mineral discoveries,
including tin and tungsten. The exercise of the Option will be conditional on,
inter alia, Rome Resources paying a modest and strategically structured total
consideration of CAD$300,000, comprising a total of CAD$250,000 in new
ordinary shares of 0.1 pence in the Company ("Ordinary Shares") and CAD$50,000
in cash, to be paid over the four years following the entering into of the
Option, although the consideration for the exercise of the Option may be
satisfied earlier at Rome's discretion. During the Option's period Rome
Resources shall act as the operator of the Licences and be responsible, inter
alia, for carrying out exploration on the Licences.

 

Following the completion of the exercise of the Option and satisfaction of the
associated payment obligations outlined above, Rome Resources will have a 100%
legal and beneficial interest in the licences comprising the Projects and 97%
of the net smelter return on the future minerals produced within the Licences
("Net Smelter Return"), with the vendors of the Projects retaining a royalty
of 3% of the Net Smelter Return. In addition, thereafter Rome Resources will
gain the right of first refusal to purchase 50% of the vendors' retained
royalty on the Net Smelter Return via the payment of a cash amount of
$1,500,000 (or an equivalent mutually agreed amount of cash or new Ordinary
Shares).

 

The Board considers that this low-cost entry point reflects the early-stage
nature of the Projects and the Company's ability to leverage its network and
credibility to secure early-mover advantage on highly prospective licences.
This diversification aligns with the Company's strategy to secure exposure to
highly prospective critical mineral opportunities while maintaining its core
commitment to advancing tin and copper resources at its flagship Bisie North
project in the DRC. Importantly, the cash component required to exercise the
Option is fully manageable within the Company's existing financial resources
although the Directors do not currently have the authority to allot new
Ordinary Shares in order to satisfy the equity component of the consideration
to exercise the Option. Additionally, the exploration programme in Canada is
structured to ensure it does not detract from ongoing work programmes or the
allocation of resources in the DRC.

 

Paul Barrett, Chief Executive Officer of Rome Resources, commented:

 

"This proposed strategic entry into Canada and the Appalachian Devonian tin
granite plays provides us with low-cost access to a highly prospective region
which exhibits strong tin and other critical metal mineralisation in a
mining-friendly Tier 1 jurisdiction. The Three Lakes area is a late-phase tin
granite-sourced prospect, similar to our Bisie North tin play in the DRC, but
with additional tungsten, bismuth and indium potential.

 

"Importantly, this opportunity complements Bisie North, not only in the
commodities it offers but also in timing. Planning of the work programme can
take place while we await the assays from Bisie North which will feed into the
updated mineral resource estimate for Kalayi, allowing for progress at both
projects in parallel. This approach allows us to maintain focus on our core
project in DRC while positioning Rome for proposed long-term growth through
diversification."

 

A detailed technical review of the new Projects under the Option will be
announced in due course.

 

For further information, please contact:

 

 Investor questions on this announcement                          https://romeresources.com/link/rAk8wy (https://romeresources.com/link/rAk8wy)

 We encourage all investors to share questions

 on this announcement via our investor hub

 Rome Resources Plc                                               Tel. +44 (0)20 3143 6748

 Paul Barrett, Chief Executive Officer

 Allenby Capital Limited (Nominated Adviser and Joint Broker)     Tel. +44 (0)20 3328 5656

 John Depasquale / Vivek Bhardwaj (Corporate Finance)

 Kelly Gardiner / Lauren Wright (Sales & Corporate Broking)

 OAK Securities (Joint Broker)                                    Tel. +44 (0)20 3973 3678

 Jerry Keen, Head of Corporate Broking

 Henry Clarke, Head of Sales

 Camarco (Financial PR)                                             Tel. +44 (0)20 3757 4980

 Gordon Poole / Sam Morris

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About Rome Resources plc

Rome Resources Plc is a mineral exploration company listed on the London Stock
Exchange's AIM market. The Company's primary focus is the advancement of its
flagship Bisie North Project, a significant tin and polymetallic exploration
asset located in the Walikale Territory of the North Kivu Province in the
Democratic Republic of Congo. Ongoing exploration activities are designed to
define mineralisation and support future resource development.

In line with its strategy of securing exposure to highly prospective critical
mineral opportunities, the Company looks to add high quality tin projects to
its portfolio such as the new addition of exploration assets in eastern
Canada.

Rome's strategy is centred on systematic exploration, capitalising on
compelling geological potential, and is committed to responsible exploration
practices and stakeholder engagement in jurisdictions where it operates. Rome
is incorporated and registered in England and Wales.

 

Qualified Person Statement

 

Dr. Paul Armitage is a consultant of Rome Resources plc, a qualified
geologist, a Fellow of the London Geological Society and a Member of
the Institute of Materials, Minerals and Mining. Dr. Armitage is a qualified
person (QP) under NI 43-101 and as defined by the AIM Note for Mining, Oil and
Gas Companies for the purposes of this announcement and has reviewed and
approved the scientific and technical information contained in this news
release.

 

 

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