DRC Tin Explorer Targets Resource Estimates at Two Projects by Early Q2 2025

• Rome Resources' tin-copper project in the DRC has encountered 30-40m wide tin intercepts in the first two drill holes, a good sign for the project
• The company plans to drill deeper to further delineate the tin mineralisation and believes the copper will transition to tin at depth, as per their geological model
• Drilling at the Kalayi prospect is nearly complete and a resource estimate is expected in Q1 or early Q2 2025
• Rome Resources is well-funded after a recent financing and is now looking for larger companies as potential partners rather than further dilution
• Management sees positive long-term fundamentals for the tin market and believes further drilling will add value by expanding the resource

Tin has emerged as a critical metal, essential for the energy transition due to its use in solar panels, batteries, and electronics. With long-term demand growth expected, Rome Resources is focused on its advanced-stage tin-copper project in the Democratic Republic of Congo (DRC).

Encouraging Drill Results 

Rome Resources recently announced assay results from the first two holes of its ongoing drill program at the Mont Agoma prospect. The results are highly encouraging, with both holes intersecting 30-40 meter wide zones of tin mineralisation. CEO Paul Barrett elaborated:

"These are relatively shallow holes, but the really interesting thing is that they're very wide tin intercepts. At this depth we're still in the tin-copper transition with quite a lot of zinc... The key focus obviously is the tin."

While still early days, the presence of such broad intercepts bodes well for the potential to delineate a significant tin resource at Mont Agoma. The mineralised system appears to be quite large and is open at depth.

Interview with Chief Executive Officer, Paul Barrett

Following the San Rafael Model

Rome is applying the geological model of the San Rafael tin mine, to guide its exploration efforts. At San Rafael, the mineralisation transitions from copper-rich at shallow depths to tin-dominant at depth. Barrett explained how this model informs their strategy:

"If you think about Alphamin's mineable ore zone, they're mining 9-10 meters of mineralisation. This is substantially bigger... Going deeper, we hope to fill in the gaps with tin mineralisation. That's the forward plan - to drill deeper holes."

With three rigs currently turning on the Mont Agoma prospect, Rome is well-positioned to test this model and potentially unlock a major new tin discovery in the DRC.

Near-Term Catalysts 

In addition to the ongoing drilling at Mont Agoma, Rome expects to complete the drill program at its nearby Kalayi prospect shortly. This will pave the way for a maiden resource estimate, a key milestone for any exploration company. Barrett stated:

"I can't see it going much beyond the end of March, so it's only Q1 getting into early Q2... If we can close off Kalayi drilling and this phase of Mont Agoma and come up with a resource, we'll still have a lot of money in the bank to continue the next phase."

Well-Funded for Growth 

Rome Resources is well funded for its planned work programs after raising money in late 2024. Importantly, the company is not currently seeking further equity dilution, but is instead looking to bring in a strategic partner:

"We had conversations with potential investors in London in November. We're having the Cape Town version of it next month. It'll be a different set of conversations - we're not talking to investors for money, we do not want to have any further dilution. We're now talking to partners - larger companies coming in."

The ability to self-fund ongoing exploration while pursuing non-dilutive partnerships is a strong positive for Rome Resources. It allows the company to continue aggressively advancing its projects without diluting existing shareholders.

Tin Market Outlook 

The long-term outlook for tin remains highly favorable. While prices have stabilised around the $30,000/tonne level after last year's volatility, the underlying fundamentals of supply shortfalls and growing demand are still firmly in place. From Barrett's perspective:

"Longer term, the signals are still very, very good. Shareholders understand that. If we come into production, it's going to be longer term, that's positive."

As one of the few tin-focused juniors with a realistic path to production this decade, Rome is well-positioned to benefit from the strong tin market fundamentals. The company aims to become the next Alphamin as it proves up a resource and advances its project.

The Investment Thesis for Rome Resources

• Exposure to Growing Tin Demand: Tin remains a critical metal for the energy transition with strong long-term demand growth projected.
• Strategic Land Position: Mont Agoma & Kalayi prospects are located adjacent to alphamin's Mpama tin mine with similar geology.
• Proven Model: Management is applying a proven geological model from San Rafael to make a new discovery.
• Upcoming Catalysts: Multiple resource estimates expected in 2025 from Mont Agoma & Kalayi.
• Well-Funded: Recent financing provides ample capital to advance projects. Strategic partner process underway.

Macro Thematic Analysis

Tin is often overshadowed by metals like lithium, cobalt and nickel in discussions about the energy transition. However, it could be argued that tin's critical role is under-appreciated by the market. Tin demand is expected to grow significantly in the coming years, driven by its use in solar panels, lead-acid batteries, and electronics.

On the supply side, there are very few new tin projects globally, with most production still coming from artisanal mining in countries like Indonesia and Myanmar. This has led to projections of looming supply deficits as demand outpaces stagnant supply growth.

Companies like Rome Resources that can successfully bring new tin production online stand to benefit from this supply-demand imbalance. If the company can continue to advance its projects in the DRC and prove up a meaningful resource, it could attract significant interest in the coming years.