RMR Rome Resources Plc

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.

30 January 2025

Rome Resources Plc

("Rome" or the "Company")

Continuity of Tin Mineralisation Confirmed at Kalayi

Rome Resources Plc (AIM: RMR), the DRC-focused tin explorer, announces further results from 10 of 17 diamond core drill holes at its Kalayi tin prospect located in North Kivu, the Democratic Republic of Congo (the "DRC"). These assays confirm continuous tin mineralisation across multiple sub-parallel ore shoots, supporting the Company's geological model and highlights the growing scale of the deposit.

Two additional holes (one deep hole in progress) will complete the initial diamond drilling programme at Kalayi, paving the way for a proposed maiden inferred mineral resource estimate, expected in the first quarter ("Q1") of 2025 once all results have been received. Drilling to date has covered only 30% of the 2,000m in situ tin-in-soil anomaly with mineralisation starting from surface, remaining open at depths exceeding 150m.  

Assay Highlights

·    KBDD009: 5.5m at 0.89% Sn from 102.5m including 2.4m at 1.39% Sn from 105.6m;

·    KBDD010: 0.9m at 1.28% Sn from 137.5m;

·    KBDD014: 2.85m at 0.45% Sn from 24.6m and 3.9m at 0.38% Sn from 32.09m including 2.27m at 0.51% Sn from 33.0m in.

Encouragingly, KBDD016 has delivered the best visual tin intersection to date, where a 10m wide cassiterite bearing zone was identified at one of the deepest levels drilled to date. This reinforces the Company's zonation model that tin mineralisation strengthens towards the granite source. Deeper drilling is now targeting these higher-grade extensions, with results expected from KBDD016 in Q1 2025.

Current hole KBDD018, shown in Figure 1, is targeting the zone roughly 80m below the 10m wide zone seen in KBDD016 as it is anticipated that the grade will increase at depth.

With tin currently trading at ~US$30,000/t, these results indicate the potential for economic mineralisation, particularly if drilling defines high-grade zones at depth.

Exploration Update & Forward Plan

·    Rome remains fully funded following its £4.2 million strategic investment from Stanvic Mining, enabling an accelerated exploration programme in 2025.

·     Additional assay results are pending from MADD018 at Mont Agoma, which intersected >100m of visible copper mineralisation.

·    Drilling continues at both Kalayi and Mont Agoma, with a focus on extending known tin zones and advancing towards a proposed maiden inferred mineral resource estimate in Q1 2025.

·     Ongoing deeper drilling aims to validate the zonation model seen at world-class tin mines, including Alphamin, where tin grades have strengthened with depth and Rome will continue testing mineralisation at comparable depths.

·      Operations and on-site activities continue to remain unaffected by the unrest in the city of Goma.

Paul Barrett, Chief Executive Officer of Rome Resources Plc, commented: ''These latest results from Kalayi build on the success of our last drilling campaign, reinforcing our confidence in Kalayi's growing scale, with mineralisation now confirmed across multiple zones and improving as we drill deeper towards the granite source. The large 10m cassiterite intersection from KBDD016 at depth is particularly exciting, and we look forward to receiving assays from this key zone shortly as well as MADD018 from Mont Agoma where over 100m of visible copper mineralisation was observed."

"It is becoming increasingly clear that we are unlocking a simple, open pittable, high-grade tin resource which, due to the pinch and swell geometry, indicates that there is potential for even greater widths of high-grade mineralisation both at depth and along strike."

"We are continuing to accelerate the drilling programme at both Kalayi and Mont Agoma concurrently, with a combined total of 3,735m drilled at present. We look forward to updating the market as we receive more assay results and build a clearer picture of these exciting resources. Our targeted maiden inferred mineral resource estimate in Q1 2025 will be a major milestone, further defining the potential of this emerging tin asset.''

Operations Update

Drilling operations are continuing at both Kalayi and Mont Agoma, with a combined total of 3,735m drilled as of 26 January 2025. Currently, two drill rigs are operational at Mont Agoma, with one active at Kalayi, while a fourth drill rig is waiting for an engine replacement.

At Kalayi, a total of 2,020m of diamond core drilling has been completed from 18 holes (KBDD018 in progress) with two planned drill holes remaining, including a deep hole to assess the potential for mineralisation to strengthen at depth. KBDD018 is targeting 80m below the best visual indications, which will provide further insight into deeper tin mineralisation and its relationship with the broader zonation model.

At Mont Agoma, five drill holes (two abandoned) have been completed for 1,358m; three drill holes are ongoing and six planned drill holes remain during the current programme. The mineralisation remains open to the north, south and at depth, aligning with the Company's broader strategy to test for continuity at deeper levels.

Further to the Company's announcement on 27 January 2025, the Company confirms that its operations and on-site activities continue to remain unaffected by the unrest in the city of Goma. In any event, the board of directors of Rome believe that the remote proximity of Rome's projects as well as the limited infrastructure surrounding the projects positions the Company well in the event that the unrest in the City of Goma develops further.

The Company has moved helicopter operations to the southern end of lake Kivu and has arranged for crew changing to take place from Bukavu Airport. A specialist driller is en route to the site to assess the quality of the Company's drilling equipment and implementing measures with the view to improving efficiency, enabling continuous drilling going forward with the four rigs on-site.

Background information

Kalayi

All results at Kalayi to date are summarised in Table 1. Drilling at Kalayi has covered 600m of potential geological strike, confirming that tin mineralisation is confined to a series of sub-parallel en echelon ore shoots within strongly chlorite altered shear zones.  These zones demonstrate a strong pinch and swell geometry both along strike and downdip as illustrated in Figure 1 and in section in Figure 2.

Notably, tin mineralisation exposed at surface above KBDD007 and KBDD008 was not intersected in either drill hole due to faulting. KBDD018, currently in progress, is targeting tin mineralisation 80m below the best visual indications, marking one of the deepest intercepts to date to assess the potential for mineralisation to increase at deeper levels. This hole will assess the potential for increasing tin grades at depth,  similar to Alphamin's Mpama South where tin grades showed a strong increase at deeper averaging approximately 2% tin.

Visual and reported results to date over a limited 600m strike length reinforce the prospect that Kalayi  has significant potential to host tin mineralisation from surface to depths exceeding 150m. Soil sampling along topographic ridges suggests that mineralisation may extend to a total length of over 2,000m of strike as shown in Figure 1.

Samples from KBDD016 are in the process of being sent to Lubumbashi for sample preparation prior to onward transportation to Johannesburg. Results for the bulk of the Kalayi drilling programme are expected in Q1 2025 contributing to the proposed maiden inferred mineral resource estimate.

Figure 1.  Completed and Planned Holes at Kalayi on the 2,000m tin in soil anomaly

Table 1: Significant Tin Intercepts at Kalayi (0.1% cut-off grade for Sn; 3m internal dilution)

For further information please contact:

Rome Resources Plc

Paul Barrett, Chief Executive Officer

Mark Gasson, Chief Operating Officer

Tel. +44 (0)20 3143 6748

Allenby Capital Limited (Nominated Adviser and Joint Broker)

John Depasquale / Vivek Bhardwaj / Lauren Wright (Corporate Finance)

Stefano Aquilino / Joscelin Pinnington (Sales & Corporate Broking)

Tel. +44 (0)20 3328 5656

OAK Securities (Joint Broker)

Jerry Keen, Head of Corporate Broking (jerry.keen@oak-securities.com)

Henry Clarke, Head of Sales (henry.clarke@oak-securities.com)

Tel. +44 (0)20 3973 3678

Camarco (Financial PR)

Emily Hall / Gordon Poole / Sam Morris

Tel. +44 (0) 20 3757 4980

OAK Securities is a trading name of Merlin Partners LLP. Merlin Partners LLP is authorised and regulated by the Financial Conduct Authority (Reference Number: 449191). Merlin Partners LLP is registered in England and Wales (Registered Partnership Number: OC317265).

Qualified Person Statement

Dr Deon Vermaakt is a consultant of Rome Resources plc, a qualified geologist and a registered Professional Natural Scientist (Geological Science) with the South African Council for Natural Scientific Professions (SACNASP Reg. No. 400074/03). Dr Vermaakt is a qualified person (QP) under NI 43-101 and as defined by the AIM Note for Mining, Oil and Gas Companies and has reviewed and approved the scientific and technical information contained in this news release.

Dr Vermaakt is satisfied that the results returned for the QAQC samples for holes KBDD009 to KBDD0014 which were inserted at regular intervals throughout the samples and reported grades which were well within acceptable ranges as per industry standard.

The two sample batches JB24326155 and JB24368562 consisted of 310 samples, of these 37 were QAQC samples. Nine duplicates were inserted, 17 CRM's and 14 Blank samples were inserted, all returned acceptable results.

Furthermore, Dr Vermaakt reviews all the sampling procedures on an on-going basis. The handheld Niton XRF is frequently checked and calibrated to ensure accurate analysis and measurements.

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