Investor Newsletter, October 2024

Dear Investor,

Finally, first-pass drilling looms large at Alouana, the stubborn hard-eyed third dimension is now imminent. Of course we have a good map, we have cross sections, soil and rock-chip geochemistry and geophysics; a geometry has been established and barring the usual last -minute tweaks, the conceptual framework is in place, objectives are clear and we are good to go.

I am old enough to remember that time when drilling wasn't such a pivotal phenomenon, when it was just a natural and barely newsworthy extension of the geologists tool-kit. Times have changed, we all know how (maybe not why), but interestingly according to S&P Global, the historic occasion I refer to also seems to correlate with a 10-year honeymoon period starting in 1990, and from which point until now, 52% of major (plus 500k metric tons) copper deposits were discovered. 124 new copper deposits were discovered during that ten year period, over the last 10 years we have discovered just 19. Of course past is prologue, there are evolving sociological and natural factors that have impacted on our ability to make new discoveries, but now we're needed, and for those factors that are under our control, aren't S&P's numbers striking enough to provoke courage and inspire change?

Exploration Update

Saudi Arabia

At Jabal Sahabiyah, we are currently advancing four targets through mapping and surface geochemistry programs, with recent results identifying new untested mineralization potential. The drone-borne surveys targeting the extension to the Jabal Muwayqirah gossan beneath the adjacent wadi and recently identified gold mineralization potential at Hanash South are nearing completion. We intend to commence drilling early next year, once permits have been received.

As part of our commitment to developing the next generation of national geologists in Saudi Arabia and in support of the Third Pilar of Vision 2030, we recently signed a Memorandum of Understanding governing student internships and laboratory collaborations with King Abdulaziz University.

Several of the prospects we are exploring in Saudi Arabia extend under alluvial cover in wadis (dry river beds). We use a 3 meter hand auger to sample concealed mineralization. Royal Road Arabia executing the MoU with Kind Abdulaziz University.

Next in Saudi Arabia

• Plan drilling at Jabal Sahabiyah once drone, mapping, and surface geochemistry programs have been completed.
• Conduct an environmental survey for drill permitting
• Advance new prospects to drill stage

Check out our YouTube channel and catch up on previous episodes here if you haven’t already!

Upcoming Events

We will be attending the following event in November,

• 11-12th Nov - Precious Metals Summit in Zurich
• 14-15th Nov - 121 Mining Investment in London
• 19-20th Nov - 121 Mining Investment in Dubai

Thank you for your continued support and trust in our vision. We look forward to sharing more videos and updates with you in the coming months.

Respectfully Yours,
Royal Road Minerals