Texas Mineral Resources Issues Fiscal Year End Corporate Update - Seite 3

After extensive discussions with legal counsel and regulators, a meeting was held on November 27th with the New Mexico Mining and Minerals Dept. (MMD) personnel in Santa Fe, New Mexico and the decision was made, based on their input, to apply for a Minimum Impact Exploration permit. We will submit this plan within the next two weeks pending finalization of the drilling plan and attached diagrams. MMD personnel advise us that the typical time to process this type of permit is approximately four months.

“Fiscal 2023 has seen its share of both challenges and opportunities for TMRC,”  said Anthony Marchese, chairman.  “Looking ahead to fiscal 2024, we look forward to the continued development of Round Top as well as further work on the New Mexico silver project through the first phase of exploratory drilling in order to validate our promising geophysical results.  We are currently evaluating several other potentially promising mining opportunities in the southwest United States and will have more details as we get closer to finishing our analysis.  Finally, we intend to hold a shareholder meeting in the first calendar quarter of 2024.”

About Texas Mineral Resources Corp.

Our primary focus is to develop and commercialize, along with its joint venture operating partner USA Rare Earth LLC, the Round Top heavy-rare earth, technology metals, and industrial minerals project located in Hudspeth County, Texas, 85 miles southeast of El Paso, in which TMRC currently owns an approximate 19.6% interest and USA Rare Earth owns an approximate 80.4% interest. Additionally, the Company is pursuing other domestic mining opportunities.  The Company’s common stock trades on the OTCQB U.S. tier under the symbol “TMRC”.

Cautionary Note to Investors

The United States Securities and Exchange Commission ("SEC") limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce and that are compliant with SEC Industry Guide 7. Investors are cautioned not to assume than any part or all of the Round Top project or the opportunity in the Black Hawk Mining District contains any mineral deposits that will ever be converted into resources or that any inferred mineral resource or measured and indicated resources exists or is economically or legally mineable. Neither the Round Top or any other potential project contains any known proven or probable ore reserves or mineral resource compliant with SEC Industry Guide 7 reporting standards. Investors are urged to consider closely the disclosure set forth in TMRC’s latest reports filed with the SEC.