Resouro Gold Inc. (TSX-V: RAU) (FSE: BU9) is pleased to announce that on July 11, 2023 it closed its previously announced brokered private placement offering  of 13,333,333 common shares in the capital of the Company at a price of $0.15 per Common Share for aggregate gross proceeds of approximately $2,000,000.

The Company intends to use net proceeds from the Offering to advance exploration on the Company’s Tiros Titanium-REE Project and Novo Mundo Gold Project in Brazil and for general working capital purposes.

The Offering was led by Taylor Collison Limited, which acted as agent on a reasonable efforts basis. As compensation for its services, the Agent elected to receive, and was issued, 800,000 Common Shares, representing a capital raising fee of 6.0% of the aggregate gross proceeds of the Offering, payable in cash or through the issuance of the number of Common Shares equivalent to the value of the Capital Raising Fee at a price of $0.15 per Common Share. In addition to the Compensation Shares, the Company issued to the Agent 600,616 warrants to purchase Common Shares, with each Agent’s Warrant exercisable into one Common Share for a period of three years from the Closing Date at an exercise price of $0.20 per Common Share.

The securities issued in connection with the Offering are subject to a statutory hold period of four months plus one day from the Closing Date, being November 12, 2023, in accordance with applicable securities legislation. The Offering has received conditional acceptance of the TSX Venture Exchange and is subject to final acceptance upon the Company filing final documentation with the TSXV.

The securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from registration requirements. This news release does not constitute an offer for sale of securities in the United States.

About Resouro Gold Inc.

Resouro is a Canadian-based mineral exploration and development company focused on the discovery and advancement of economic mineral projects in Brazil, including the Tiros Titanium-REE Project in Minas Gerais and the Novo Mundo Gold Project in Mato Grosso.