Texas Mineral Resources and JV Partner USA Rare Earth Enhance Round Top Operating Agreement to Include Flexible Financing Option to Meet Potential Future Cash Requirements - Seite 2

Dan Gorski, CEO, commented:  “The agreement by USARE to modify our Operating Agreement does not change the bulk of the basic framework and structure of the original agreement, in that TMRC still maintains a seat on the three-person management committee and will continue to be an active participant in the project. We look forward to continuing to work with USARE to execute our strategy of maximizing the value of Round Top with the goal of developing a profitable and strategically vital mining operation. The plan to commercialize rare earth elements, lithium and other tech elements such as gallium, beryllium and hafnium from a cost- efficient heap leaching operation is, in our belief, a fact that has been underappreciated by the equity market.”

About Texas Mineral Resources Corp.

Texas Mineral Resources Corp.'s strategy is to develop and commercialize, along with its joint venture operating partner USA Rare Earth LLC,  its 20%-owned Round Top heavy-rare earth, technology metals, and industrial minerals project located in Hudspeth County, Texas, 85 miles southeast of El Paso. Additionally, the Company plans on developing other domestic mining projects  in more traditional metals.  To that end, the Company is currently analyzing the Blackhawk high-grade silver/cobalt/nickel deposit in New Mexico. The Company’s common stock trades on the OTCQB U.S. tier under the symbol “TMRC.”

Cautionary Note Concerning Forward-Looking Statements

This press release contains “forward-looking statements,” as defined by the federal securities laws, including statements regarding our implementation of strategic initiatives and future performance of TMRC. Forward-looking statements reflect our current expectations and projections about future events, and thus involve uncertainty and risk. The words “believe,” “strategy,” “expect,” “anticipate,” “will,” “could,” “would,” “should,” “may,” “might,” “plan,” “estimate,” “intend,” “predict,” “potential,” “continue,” “maximize,” “goal,” and the negatives of these words and other similar expressions generally identify forward-looking statements. Such forward-looking statements are subject to various risks and uncertainties, including those described under the section entitled “Risk Factors” in our Annual Report on Form 10-K for the year ended August 31, 2022, filed with the SEC on November 29, 2022, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements.