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Resouro Provides Update on Novo Mundo Gold Project

V.RAU

Vancouver, British Columbia--(Newsfile Corp. - July 25, 2022) - Resouro Gold Inc. (TSXV: RAU) ("Resouro" or the "Company") is pleased to report that substantial progress has been made by its exploration team at the Company's 100% owned Novo Mundo Gold Project, in Brazil in the two months since Resouro began trading on the TSX-V. The Company mobilized a drill rig and has completed three diamond drill holes and is currently drilling the fourth in the initial 13 hole drill program.

Key activities over the last two months have been.

  1. Desktop review and modelling of historic data including; soil, rock chip and drilling data defining the major mineralized trends within the main Novo Mundo Mineral Rights, which confirmed a number of significant geochemical anomalies.
  1. Diamond drill core from previous campaigns has now been re-logging to further defined hydrothermal alteration and mineral assemblage associated with both trends. New codes will be used on the geological modelling of the current drilling program.
  1. Rock chips samples from two major open pits at the Luisão-Dionísio trend returned grades of 27.3g/ton and 32.9 g/ton of Au. These sample were composed of quartz veins with sericite alteration and high Pyrite content. A sample of the host hydrothermally altered granite was also collected and returned a grade of 3.91 g/ton of Au.
  1. The first two diamond drill holes drilled were targeted at Dionísio. Both intercepted at least two zones with strong sericite + pyrite alteration and quartz veins, which are similar to the mineralized zones found in historical drilling and rock chip samples from the open pit.

Christopher Eager (President and CEO) and Marcelo Carvalho (Chief Geologist) attended the 3rd Annual Seminar of Mining in North of Mato Grosso, where Dr. Carvalho presented a technical paper about gold deposits in the region.

Please visit Resouro's website at www.resouro.com for further information and subscribe to Resouro's mailing list.

Qualified Persons

The technical content of this news release has been reviewed and approved by Marcelo Juilano de Carvalho, BSc and MSc in Geology, PhD in Regional Metalogenesis, a Director, Chief Operating Officer and Chief Geologist of the Company, and a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

Quality Analysis and Quality Control

Sample preparation was undertaken by ALS Laboratories in Goiana, Brasil. Pulps are transported to ALS Laboratories in Lima, Peru, and analyzed for gold and silver using Fire Assay using 50g aliquots with Atomic Absorption Spectroscopy (AAS) finish. Additionally, samples were analyzed for a 48-element package by ICP-MS. Where coarse gold is suspected, Screen Fire Assay was requested. Analytical accuracy and precision are monitored by the analysis of reagent blanks, reference material, and replicate samples by the laboratory. Quality control is further assured by Resouro' s QA/QC program, including the inclusion of field duplicates (1 every 40 samples), blanks (1 every 25 samples) and certified standards (1 every 25 samples. Coarse rejects and pulps are retained and stored by ALS.

About Resouro Gold Inc.

Resourois a Canadian based mineral exploration company focused on the discovery and advancement of economic mineral projects in Brazil. The Company's key exploration asset is the 100% owned Novo Mundo Gold Project in Mato Grosso, Brazil.

For further information, please contact the Company at:

Resouro Gold Inc
Telephone: 604.377.0403
info@resouro.com
https://resouro.com

Reader Advisory

This news release may contain statements which constitute "forward-looking information", including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.

This news release includes data that has been obtained from third party sources, including industry publications. The Company believes that the industry data is accurate and that its estimates and assumptions are reasonable, but there is no assurance as to the accuracy or completeness of this data. Third party sources generally state that the information contained therein has been obtained from sources believed to be reliable, but there is no assurance as to the accuracy or completeness of included information. Although the data is believed to be reliable, the Company has not independently verified any of the data from third party sources referred to in this news release.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/131750