1. Preheat oven to 325 degrees Fahrenheit (170 degrees Celsius). Rinse roast and pat dry. Place in a 9×13-inch baking pan and sprinkle with salt, paprika, onion powder, and garlic powder. Smear over the roast surface. Place in oven and bake uncovered for 20 minutes.
2. While roast is baking, prepare the sauce. In a small saucepan, combine sauce ingredients. Bring to a boil over medium heat. Reduce heat to low and simmer approximately 10 minutes, until the sauce reduces slightly and thickens. .
3. Pour sauce evenly over roast. Continue to bake until the internal temperature reaches 130–140 degrees Fahrenheit (54–60 degrees Celsius) for medium rare.