April 27, 2016 – Toronto, Ontario: Royal Road Minerals Limited (TSXV:RYR) (the “Company”), a gold focused mineral exploration and development company, is pleased to announce that pursuant to Resolution No 241 dated April 5th 2016 a new Environmental License (“EL”) has been issued for the La Golondrina gold project by the Regional Environmental Corporation of Nariño Province (Corponariño). The Company is also pleased to provide an operational update on its exploration activities and planned drilling program at La Golondrina.
The EL provides necessary environmental permits for ongoing gold production at La Golondrina, which includes drill-testing and infrastructure and underground mine development as outlined in the technical approval of the projects work program (PTO), issued by the Colombian National Mining Agency (ANM). Before exploration drilling can commence at La Golondrina, formal resolution of the PTO is to be issued and a drilling plan is to be filed (not requiring approval) with Corponariño.
An initial scout diamond drilling program of between 1000 and 1500 meters is planned at La Golondrina. This will be the first drilling program to be conducted at the project with drilling expected to commence by August of this year. Holes will target known vein and vein-zone occurrences close to the intrusive contact with adjacent metasomatic hornfels, along strike extensions of this zone as indicated by ground magnetic data and other high-grade gold mineralized vein occurrences corresponding to magnetic and IP chargeability anomalies (see maps, diagrams and explanation in Figure 1).
At the Company’s La Redención project, surveying, saw-cut channel sampling and mapping of underground workings is currently underway.
“The new EIA is a significant step-forward for La Golondrina” said Dr Tim Coughlin, President and CEO of Royal Road Minerals “for the immediate term, our focus is obviously on initial drill-testing of La Golondrina but, if successful, we look forward to working closely with the project owners and with Corponariño in developing an exemplary, world class gold project with due environmental concern and inclusive community initiatives ensuring sustainable, modern and low-impact exploration and gold mining. Desktop work on locating drill holes at La Golondrina is currently underway with final field confirmation planned for middle May. Access work is expected to take some four to six weeks and will commence as soon as drill pads are confirmed.”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 sampling techniques and sample results meet international reporting standards. Rock faces for underground channel sampling are first washed with a high-pressure hose and then channel sample locations are clearly marked and numbered using spray paint. Channels are cut with dual or single blade electric rock-saws to a depth of 3-5cm and over a channel width of 10cm. Individual sample lengths do not exceed 1 meter. Individual quartz veins and in some cases vein zones may be cut longitudinally along the vein wall to ensure the collection of a statistically significant amount of vein material. Channel material is extracted using a hammer and chisel and bagged for analysis on location. All assay work for released results is carried out by internationally certified Actalabs in Colombia and Canada. All samples are analyzed by fire assay for gold and high-grade samples may be assayed by gravimetric fire assay and metallic screen (150#). Multielement analysis by ICP-MS is also conducted. 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 Coughlin President and Chief Executive Officer USA-Canada toll free 1800 6389205 +44 (0)1534 887166 +44 (0)7797 742800 firstname.lastname@example.org