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Royal Road Minerals

About Us

New Mines for a New World

What we do

Royal Road Minerals is a gold and copper exploration and development company focused on projects with Tier 1 potential in Nicaragua and Colombia. The Company advances its exploration programs either solely or in joint venture relationships with local and international mining companies and is the largest exploration license or license application holder in both Colombia and Nicaragua.

In Colombia, Royal Road is a signatory to the British Embassy’s Peace and Business Initiative and has a unique and innovative strategic alliance with a post-conflict cooperative, ECOMUN, which aims to reintegrate ex-combatants and benefit conflict damaged communities. In Nicaragua the company operates a 50-50 joint venture with Hemco-Mineros Nicaragua and is currently developing two exciting drill-ready projects with Tier 1 potential. The Company is listed on the TSXV under the ticker RYR and on the Frankfurt Exchange under the ticker RLU.

In Colombia Royal Road Minerals operates through its wholly-owned Colombian companies Minerales Camino Real SAS founded in 2015 and Exploraciones Northern Colombia SAS acquired from previous owners in 2019.

In Nicaragua Royal Road Minerals operates through its wholly owned Nicaraguan company Minerales Camino Real Nicaragua SA (previously Nicaza SA) acquired from previous owners in 2017.

Our History

What our employees say: Our Company is the collective sum of its many human parts, its history is more than a simple record of its commercial existence; it is a product of its human past. Royal Road owes its exploration instinct, its business acumen, its social and environmental conscience and its tenacity to the collective history of its discovery-focused exploration team, its commercially savvy Board of Directors and its recognised, experienced, proud and decorated, social, environmental and ex-services personnel.

Royal Road is the product of many years of collective experience in mineral exploration, security and reincorporation in post-conflict environments such as the Balkans, the Caucasus, Africa, South America and the Middle East. The Royal Road team have made several world-class discoveries, listed several successful public companies and generated returns for shareholders and stakeholders alike.

A Message From Our CEO

Mining in its various forms is necessary for our everyday lives, whether they be modern or traditional, on-grid or off-grid. Clean water, healthy forests, thriving biodiversity, prosperous and robust communities and of course, peace; are also essential for sustaining life on our planet. The world is always changing and for companies like ours, the modern day challenge is to find and develop significant and profitable new mines to satisfy the requirements of this new world. Although it may appear as though this is something new, in-fact, our industry has been working on developing new techniques and technologies for responsible mines with minimal environmental impact, little to no impact on water and no nett loss in biodiversity for the past fifteen years.

We have also been working hard on new models of community engagement, incorporating real partnerships and local economic models which are truly sustainable. At Royal of course, we have a particular interest and the benefit of some background, in engaging with post-conflict initiatives, in reintegrating ex-combatants and working with conflict damaged communities. Furthermore, the mines our exploration team find tomorrow, will not come into production for at-least another 5-10 years and in that time, given the current rate of research and development; we can expect even more in terms of environmentally and socially responsible advances. The mines we prospect for today must be suitable for the promise of a sustainable tomorrow.

Since 2018, Royal Road committed to the peace process and a new sustainable model of exploration and development in Colombia.

Watch this video documentary to see our story.

Board of Directors

Our board team has worked in exciting and prospective jurisdictions throughout the world

We have been integral in the discovery and development of various gold, silver and copper deposits in such places as Peru, Argentina, Chile, Colombia, Kosovo, Turkey, Mali and Tanzania. We have particular experience in prospective emerging and post-conflict environments where we have collaborated with governments and multilateral institutions to develop responsible, sustainable and exemplary resource projects.

Tim Coughlin

President & CEO

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Hugh Devlin

Executive Director Sustainability

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Marcus Stone


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Ana Gabriela Juárez

Non-Executive Director

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Jon Hill

Non-Executive Chairman

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Roderick Corrie

Non-Executive Director

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Guy Wallis MSc FSyI CSyP

Non-Executive Director

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Our Management Team

Iván Devia

Chief Operating Officer

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Cindy Davis


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Mauricio Valencia

Chief Geologist

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Luis Puerto

Vice President, Corporate Administration

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Diana Bayer

Country Manager, Colombia

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Our Partners


British Embassy Colombia

The British Embassy in Colombia is the second largest in Latin America. Royal Road is a signatory to the British Embassy’s Business and Peace Initiative.

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Mineros Logo

Mineros SA, Colombia

Mineros SA (TSX:MSA; CB:MINEROS) is a company dedicated to responsible production and exploration of gold, with more than 47 years of experience. Their headquarters are located in the city of Medellín, Colombia. The company has multiple vehicles with production and exploration operations in Colombia, Nicaragua, Argentina, and Chile.
In March 2020 Royal Road executed a strategic alliance agreement with Mineros SA, covering Royal Road Minerals' Güintar-Niverengo-Margaritas properties in Colombia. In April 2022, Mineros SA exercised an option to earn 50% of the aforementioned properties.

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HEMCO, Nicaragua

Hemco is a wholly-owned subsidiary of Colombia's Mineros SA (TSX:MSA; CB:MINEROS), a gold production and exploration company dually listed on the TSX and Colombian Stock Exchange. Hemco operates the Bonanza gold mine in Nicaragua’s North Caribbean Coast Autonomous Region (RACCN). Hemco is one of Nicaragua’s top ten exporters and is in the top 100 companies with the highest turnover in the Central American and Caribbean regions. In March 2017 Royal Road executed a 50-50 exploration strategic alliance with Hemco covering both companies’ exploration assets in Nicaragua.

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ECOMUN (Economías Sociales del Común) is a joint social and economic organization, which was formed by Presidential Decree on May 29, 2017, with funding and other support provided by the Colombian government and with the aim of collective and individual economic and social reincorporation of the members of the Revolutionary Armed Forces of Colombia People’s Army (FARC-EP), in accordance with the final peace agreement, between the Government of Colombia and the FARC-EP on November 24, 2016. Royal Road executed a collaborative agreement with ECOMUN in December of 2018 which provides for the support of Royal Road’s long-term mineral exploration and development plans in Colombia, aligns Royal Road with the Colombian Government’s post-conflict aspirations, as contemplated by the British Embassy’s Business and Peace Initiative (to which Royal Road is a signatory), and demands an exemplary level of social engagement and environmental stewardship from both parties.

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CEN (Centro de Entendimiento con la Naturaleza) is a Nicaraguan environmental NGO focused on environmental rehabilitation. Royal Road executed a collaboration agreement with CEN in March of 2018. Royal and the CEN are working on an innovative “Biodiversity and Mining” Project at the Company’s Los Andes copper and gold target in western Nicaragua.

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Uraccan University Partners Page Logo


We have an alliance with the URACCAN University, with whom we signed an agreement on issues of sustainability, innovation, and entrepreneurship through which we have carried out programs such as the Innovation Challenger and Socioeconomic Studies for the EIA's of Siuna I, Siuna II, Rosita V and Montefresco I and II

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