- Press Releases
|Toronto, August 14, 2008 - Romios Gold Resources Inc ("Romios" or the "Company") (TSX.V: RG, www.romios.com) is pleased to announce it has earned a 50% interest in Roca Mines Inc's ("Roca") Galore Creek area claims and has formed a 50:50 joint venture with Roca for the further exploration and development of the property. The property consists of 8 claims or 160 units, covering 4,000 hectares adjoining Romios' Newmont Lake property. Romios earned its 50% interest by incurring expenditures of $1,516,050 on exploration of the property, paying $200,000 in cash option payments and issuing 600,000 common shares to Roca and paying a $30,000 advance royalty payment.|
Romios carried out an exploration program on the property in 2007 which included airborne DIGHEM EM/Magnetic geophysical surveys, ground Induced Polarization (IP) geophysical surveys, soil and rock geochemical surveys, prospecting and geological mapping. The Roca claims are adjacent to the North West Zone, which is contained within the Newmont Lake property, one of nine properties held by Romios in the Galore Creek area. Based on earlier drilling, the North West Zone was calculated to contain an inferred resource of 1,406,000 tonnes at a grade of 4.43 gpt Au, 0.22% Cu and 6.4 gpt Ag or a gold equivalent grade (AuEq) of 5.16 gpt that was announced in a press release dated March 26, 2007. This equates to in-situ contained metal of 200,000 ounces of gold, 6,790,000 pounds of copper and 291,000 ounces of silver. These resources are reported at a base case gold equivalent cut-off grade of 2 gpt. Mineral Resources are not Mineral Reserves as Mineral Resources have not demonstrated economic viability. A comprehensive $5 million exploration program is currently underway at Romios' Galore Creek properties. The program at the North West Zone includes diamond drilling, metallurgical sampling, ground magnetic, electrical geophysical surveys, and a down-the- hole EM survey.
Tom Drivas , President stated, "We are pleased to enter into his Joint Venture with Roca Mines Inc on the highly prospective Roca claims and look forward to conducting further exploration on the property. We view this property as a strategic land position that expands our current holdings in the immediate area of the North West Zone."
The technical information contained in this press release has been reviewed and approved by Mr. Thomas Skimming, P. Eng., Geologist, V.P. of Exploration, Director of Romios Gold Resources Inc. and a qualified person as defined by National Instrument 43-101.
About Romios Gold Resources Inc.
Romios Gold Resources Inc., a progressive Canadian mineral exploration company established in 1995, is headquartered in Toronto and is actively engaged in precious and base metal exploration across North America with a primary focus on gold, silver and copper. Romios has significant property interests in British Columbia, Ontario and Nevada. The Corporation plans to undertake extensive exploration work on its Galore Creek properties in British Columbia, which are centrally located between NovaGold's large gold-copper-silver deposit and Barrick's high grade gold mine at Eskay Creek.
For further information, please contact:
Tom Drivas, President and Director:
(tel) 416-221-4124, (fax) 416-218-9772 or (email) firstname.lastname@example.org
Thomas Skimming, Vice President of Exploration and Director:
(tel) 416-444-0900, (fax) 416-444-0586 or (email) email@example.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Exchange Listings and Symbols: TSX-V:RG, NASDAQ OTC:RMIOF, Frankfurt:D4R.
25 Adelaide Street East, Suite 1010
Toronto, ON Canada, M5C 3A1
Tel: 416-221-4124, Fax: 416 218-9772
Contact: Tom Drivas, President
Email Address: firstname.lastname@example.org
Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements. Shareholders are cautioned not to put undue reliance on such forward-looking statements.
You can view the Next News Releases item: September 3, 2008, CORRECTION: Romios Gold's Summer Exploration Program Produces Early Positive Results
You can view the Previous News Releases item: July 10, 2008, Romios Commences Diamond Drilling Program and Awards Airborne Geophysical Survey Contract for Galore Creek Area Properties
You can return to the main News Releases page, or press the Back button on your browser.