July 12, 2016 – Toronto, Ontario: Royal Road Minerals Limited (TSXV:RYR) (“Royal Road Minerals” or the “Company”), a gold focused mineral exploration and development company, is pleased to announce that it has entered into a binding Letter of Intent with the mining concessionaire with respect to the Mina La Maria gold project, which is located approximately 4 kilometers to the west of the Company’s La Golondrina and La Redención gold projects in the La Llanada gold district of Nariño Province, southern Colombia (see Figure 1). The Letter of Intent provides the Company with the exclusive right to conduct exploration and legal due diligence on the Mina La Maria gold project property for a period of three months commencing July 9, 2016.
The Mina La Maria gold project is a locally-owned, quartz-vein-hosted gold mine, held under a 100 hectare mining license. The style of gold mineralization at Mina La Maria is intrusion-related and similar to the Company’s nearby La Golondrina and La Redención gold projects save that mineralized aplitic and pegmatitic bodies appear to be more evident. Underground mine workings which occur within the license area are currently inactive. There has been no drilling or systematic modern exploration conducted on the license.
“We are delivering on our plan of consolidating and expanding our presence in this remarkable gold district” said Tim Coughlin, Royal Road’s President and CEO. He added, “La Maria is the third such agreement we have made in La Llanada in the last ten months. Every time we advance such exclusivity arrangements to full option agreements we make valuable new local partners and stakeholders which we believe are vital components of a successful and sustainable exploration and development program. We are excited about the vein-hosted gold potential at La Maria and also intrigued by the chance of finding what may be bulk-tonnage, pegmatite-hosted gold mineralization at the project”.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The information in this news release was compiled, reviewed and verified by Dr. Tim Coughlin, BSc (Geology), MSc (Exploration and Mining), PhD (Structural Geology), FAusIMM, President and CEO of Royal Road Minerals Ltd and a qualified person as defined by National Instrument 43-101. Royal Road Minerals’ employees are instructed to follow standard operating and quality assurance procedures intended to ensure that all exploration work including sampling techniques and sample results meet international reporting standards. More information can be found on Royal Road Minerals web site at www.royalroadminerals.com
This news release may contain certain information that constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as “plan,” “expect,” “project,” “intend,” “believe,” “anticipate” and other similar words, or statements that certain events or conditions “may” or “will” occur and include statements regarding the Offering and the use of proceeds therefrom. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the hiring and retention of directors and officers, exploration and development of mineral properties, mine site planning and development, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, permitting and licensing and other factors described above and in the Company’s most recent annual information form under the heading “Risk Factors”, which has been filed electronically by means of the Canadian Securities Administrators’ website located at www.sedar.com. The Company disclaims any obligation to update or revise any forward-looking statements if circumstances or management’s estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
For further information please contact:
Dr. Tim CoughlinPresident and Chief Executive Officer USA-Canada toll free 1800 6389205+44 (0)1534 firstname.lastname@example.org