Rome Resources PLC - New Brunswick Project Update
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Released
Announcement PDF
RNS Number : 3300A
Rome Resources PLC
26 October 2026
26 October 2026
Rome Resources plc
(“Rome Resources” or the “Company”)
New Brunswick Project Update: 2.6km Tin-Bearing Breccia Trend
Identified Within Mount Pleasant
Caldera
Mount Pleasant-style mineralising system identified on Rome’s ground; assays pending; option to be
exercised
Rome Resources plc (AIM: RMR), the DRC and Canada-focused critical minerals explorer, is pleased to
provide an exploration update on its New Brunswick Project in southwest Canada (“Project”), where
field operations have confirmed multiple zones of tin, tungsten and indium mineralisation within the
same intrusive igneous complex that hosts the Mount Pleasant tin-tungsten deposit - one of the
largest known tin-tungsten occurrences in North America.
Highlights
2.6km mineralised tin-bearing quartz breccia identified at Scoullar Mountain, within the
central part of the Mount Pleasant Caldera, a few kilometres east of the historic Mount
Pleasant mine, with assays pending
Breccias contain stannite, a sulphide ore of tin, alongside purple fluorite. At Mount Pleasant,
indium is associated with stannite, sphalerite and purple fluorite, and the identification of this
same assemblage on Rome’s ground indicates the Company is working within the same
mineralising system
Trenching has been completed across a cluster of assayed samples returning up to 0.58% tin
and 0.17% tungsten at Victoria Lake, with further assays pending
Positive results returned from all three key target areas: the late-stage greisenised roof zone
of the Mount Douglas Granite ("MDG") at Victoria Lake, the eastern margin of the MDG at
Square Lake, and the Mount Pleasant Caldera at Scoullar Mountain
Systematic 2026 field campaign comprises 340 outcrop samples and 360m of trenching to
date, with field operations ongoing across the 109km² option area
Earlier sampling returned 17ppm indium, 0.8% bismuth and 1.5% copper, confirming the
polymetallic critical mineral potential of the system
Indium is a critical mineral used in display screens, contact surfaces in data centres and solar
technology, classified as high supply-risk by both the EU and US governments
The Mount Douglas Granite is coeval with the adjacent Mount Pleasant caldera deposit, one
of the largest known tin-tungsten-indium occurrences in North America
Rome will exercise its options over its New Brunswick claims, acquiring 100% of the working
interest of a 109km² land package
Subsequently, a further land package has been secured through Rome’s partner, taking the
position within the Mount Pleasant Caldera sub-area to approximately 40km², immediately
east and northeast of the Mount Pleasant licence
Rome is presenting at today’s 51st
Annual 2026 New Brunswick Exploration, Mining and Petroleum
Conference at the Delta Hotel, Fredericton NB at 1600 BST
Paul Barrett, CEO of Rome Resources plc, commented:
"Mount Pleasant is clearly a key deposit for several critical minerals, situated on the far western rim of
the caldera. Our early exploration work indicates that critical mineralisation continues eastwards
within the caldera and the evidence for that is now tangible. We have identified a 2.6km tin-bearing
quartz breccia at Scoullar Mountain, containing stannite alongside purple fluorite. At Mount Pleasant,
indium is associated with sphalerite, stannite and purple fluorite, so finding that same assemblage on
our own ground tells us we are not simply working near a world-class deposit, we are working within
the system that created it. At depth, these targets may develop into highly attractive drill targets that
rival if not eclipse the current Mount Pleasant resource.
This will be our focus in Canada in 2027, along with additional work along the prospective greisenised
part of the Mount Douglas Granite to the southeast, where sampling at Victoria Lake has returned
grades of up to 0.58% tin and 0.17% tungsten.
Having established the quality of this ground, we have elected to exercise our options and taken full
control of the Project, which sends a strong signal to the New Brunswick provincial government that
we are here to stay and develop this play to its fullest potential. We are also continuing to assess
opportunities to expand our footprint within this highly prospective corridor. Alongside Bisie North, our
flagship asset in the DRC, we are building a strong and diversified portfolio of critical metals assets at a
time when demand continues to increase. Assays from the Scoullar Mountain breccia and the Victoria
Lake trenching are pending, and I look forward to reporting them."
The Mount Douglas Granite and the Mount Pleasant System
Rome’s New Brunswick Project comprises approximately 109km² of claims in southwest New
Brunswick, focused on the tin, tungsten and critical mineral potential of the Mount Douglas Granite, a
large Devonian-age intrusion responsible for the Mount Pleasant tin-tungsten-indium deposit, one of
the largest known occurrences of its type in North America. Mount Pleasant is situated on the far
western rim of the Mount Pleasant Caldera, with Rome’s Scoullar Mountain target area lying a few
kilometres to the east within the central part of the same caldera.
Mineralisation in this setting is principally greisen-hosted, occurring in zones within the upper margins
of the granite system where hydrothermal fluids have altered the host rock and deposited tin,
tungsten, bismuth, indium and molybdenum. In reduced granite tin systems of this type,
mineralisation typically shows predictable spatial zonation, with tungsten concentrated closest to the
granite contact, followed outward by tin as cassiterite and stannite, then copper and zinc at greater
distance. Indium partitions preferentially into the tin and zinc-bearing mineral phases, and at Mount
Pleasant is associated with these minerals in conjunction with purple fluorite, a pathfinder mineral
indicative of a fluorine-rich, well-evolved granitic system.
The 2026 field campaign has targeted three distinct settings within this system and has returned
positive results from all three.
Figure 1. Regional setting of Rome’s New Brunswick Project. The Mount Pleasant Caldera and the
Mount Douglas Granite
Exploration at Scoullar Mountain and the Mount Pleasant Caldera
The Mount Pleasant deposit is formed of two distinct zones – a tungsten-molybdenum zone and a tin-
indium zone. Rome Resources are focussing on tin and indium as main value drivers in its exploration
area to the east of Mount Pleasant.
Fieldwork has been progressing in this area with the taking of a number of representative field
samples for assay. Indium is associated with stannite, sphalerite and purple fluorite at Mount
Pleasant and the work in Rome’s exploration area has led to the identification of such fluorite and in
addition quartz breccias containing stannite, a sulphide ore of tin. One such tin-bearing quartz breccia
and porphyry zone has been newly mapped at 2.6km in length, oriented on trend with the Mount
Pleasant deposit.
This is a significant discovery and may be the result of the near-surface expression of a much larger
mineralised granite/porphyry system at depth in the caldera, representing a high interest drill target
for tin and indium exploration going forward. Assays from the zone are pending and will be reported
in due course.
In response to these additional discoveries, Rome’s partner has secured a further parcel of claims now
amounting to a total of approximately 40km2
within the caldera immediately to the east and
northeast of the Mount Pleasant licence (Figure 2).
Figure 2. Rome’s claim position within the Mount Pleasant Caldera, east and northeast of the Mount
Pleasant licence.
Figure 3. Tin-bearing stannite in quartz breccia hand sample, Scoullar Mountain. (Field of view
approx.. 10cm)
Exploration in the Mount Douglas Area
The Mount Douglas Granite comprises several phases, the third and final phase hosting the majority
of the tin and tungsten mineralisation. The exploration programme in the granite has been designed
to test high-grade areas ahead of trenching and potential drilling.
Victoria Lake
The Victoria Lake prospect lies along the late-stage greisenised roof zone of the Mount Douglas
Granite and hosts several historical mineral occurrences. Rome’s 2026 programme has confirmed
these and identified three additional occurrences not previously recorded. Mineralisation has been
identified along a 300m wide zone, and a historical drillhole in this area demonstrated that tin
mineralisation continues to depth.
Trenching has been undertaken in an area containing a cluster of assayed samples with up to 0.58%
tin and 0.17% tungsten. Over 370m of trenching has been carried out and a total of 54 samples sent
for analysis, the results from which are pending. Additional 300m trenching programme is planned to
commence in early November.
Square Lake
At Square Lake, along the eastern margin of the Mount Douglas Granite, a combination of historical
occurrences and new discoveries has been identified and sampled. Results to date include a strong
showing of bismuth at 0.8% from outcrop, with further targets identified for follow-up.
Indium: Critical Mineral Context
Indium is recovered as a by-product of tin and zinc processing and has no primary mines of its own. Its
principal application is indium tin oxide, a transparent conductive film essential to LCD screens,
touchscreen displays and flat-panel monitors, processor contacts in data centres, with further use in
thin-film photovoltaic cells and LED semiconductors. Both the European Union and the United States
classify indium as a critical raw material with high supply risk, reflecting the concentration of global
supply in Chinese zinc smelting.
Earlier sampling at the New Brunswick Project returned indium at 17ppm. The identification of purple
fluorite at Scoullar Mountain, the mineral with which indium is associated with alongside indicator
sulphide minerals at Mount Pleasant, supports the potential for indium as a by-product credit
alongside the primary tin and tungsten potential of the Project.
Exercise of Options
The Company has decided to exercise its options over the exploration area. As previously announced,
the exercise of the option to acquire 100% of the working interest in the New Brunswick exploration
claims is to be satisfied principally by the issuance of 225,000,000 ordinary shares of the Company to
Robert Murray, the Optionor (the “Consideration Shares”). The Consideration Shares are restricted to
a limit on trading to the value of C$50,000 per annum until the third anniversary of their issuance.
Forward Programme
Assays are pending from the Scoullar Mountain breccia and from 54 samples submitted from the
Victoria Lake trenching programme, and results will be announced as they are received. A further
300m of trenching is planned to commence at Victoria Lake in early November. Field operations will
continue across all three target areas, and the Company will continue to assess opportunities to
expand its footprint within the Mount Pleasant Caldera and the Mount Douglas Granite system.
Subject to the results of the current programme, Rome intends to plan a core drilling campaign in
2027, with the Mount Pleasant Caldera the principal focus.
Admission and Total Voting Rights
The Consideration Shares will be issued as fully paid and will rank pari passu in all respects with the
existing ordinary shares of the Company. Application will be made to the London Stock Exchange plc
for the 225,000,000 Consideration Shares to be admitted to trading on the AIM market ("Admission")
at 8:00 a.m. on or around 2 November 2026.
Following Admission, the Company's issued share capital will comprise 8,351,625,932 Ordinary
Shares. Upon Admission this number will represent the total voting rights in the Company and,
following Admission, may be used by shareholders as the denominator for the calculation by which
they can determine if they are required to notify their interest in, or a change to their interest in, the
Company under the FCA's Disclosure Guidance and Transparency Rules.
Qualified Person Statement
Edward Loye, MSc, MCSM, FGS is a director of Rome Resources plc. Mr Loye is a qualified person 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.
**ENDS**
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.
Glossary
Quartz Breccia Silica-rich rock formed by fluid escape from mineralising fluids
Porphyry Igneous intrusive rock containing larger crystals in a fine grained matrix,
commonly associated with mineralisation
Stannite A tin-copper-iron sulphide mineral commonly present in tin-bearing
greisenised granites and tin porphyry systems
Fluorite A fluorine-bearing mineral commonly associated with polymetallic
hydrothermal mineralisation
Sphalerite A zinc sulphide ore, capable of substituting indium for zinc
Investor questions on this announcement
We encourage all investors to share questions
on this announcement via our investor hub
https://romeresources.com/link/PKBmYr
Rome Resources Plc
Paul Barrett, Chief Executive Officer
Tel. +44 (0)20 3143 6748
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