Texas Mineral Resources enters non-binding LOI to explore JV for Steeple Rock mining properties

Texas Mineral Resources Corp.

Signed non-binding LOI with Steeple Rock Holding Co. for a JV covering four mines in NM and AZ (Billali, Jim Crow, Imperial, Carlisle).
TMRC to serve as managing partner; can earn up to 50.1% interest by contributing the Carlisle mine and raising initial capital (amount TBD).
Two mines (Billali, Jim Crow) and a millsite have valid operating permits; Imperial and Carlisle do not.
Project includes a 150 tpd unassembled flotation mill on a permitted millsite with power and water.
No assurance that a definitive agreement will be reached or that resources will become compliant reserves.

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