February 21, 2017 – Toronto, Ontario: Royal Road Minerals Limited (TSXV:RYR) (the “Company”) a gold focused mineral exploration and development company, announces that it has appointed Daniel De Narvaez to the Board of Directors, that Iván Devía has moved to the position of Vice President Operations and that it has granted incentive stock options to purchase an aggregate of 4,360,000 ordinary shares of the Company to certain officers, employees and consultants of the Company pursuant to the Company’s stock option plan. The options are exercisable until February 17, 2019 at a price of $0.15 per share and shall vest as to 30% of the options, 60 days from the grant date; as to a further 30% of the options, 90 days from the grant date; and as to the remainder of the options, 120 days from the grant date.
The Company is pleased to announce the appointment of Daniel De Narvaez as a Director of the Company. Daniel is based in Bogotá, Colombia. Daniel has a B.S. in Mining Engineering from the Colorado School of Mines and a Diploma in Negotiating Strategies from the Universidad de Los Andes in Bogota. Daniel has worked extensively in mining and socio-political aspects of mining in Colombia and throughout the America’s. During the past five years Daniel has been the Executive Director of Exploraciones Oceanicas S de RL de CV, managing the exploration work and permitting of the Don Diego offshore phosphate deposit in the Pacific coast of Mexico’s Baja California peninsula.
Iván Devía has been with the Company since it commenced operations in Colombia in 2015. We are pleased to announce that Ivan will now move to the post of VP-Operations overseeing the Company’s activities in Colombia and elsewhere throughout Latin America. Iván is an international logistics, risk-management and community engagement specialist with 15 years of experience in Latin America and the Middle East. He is a graduate in Human Rights and International Humanitarian Law at the University of Nueva Granada in Colombia. Iván spent 6 years with B2 Gold Colombia as Health, Safety and Security Manager and was Operations and Security Center Manager with AngloGold-Ashanti in Colombia.
“These appointments come at a crucial time in the Company’s evolution” said Dr Tim Coughlin, Royal Roads President and CEO “With the evolving peace process in Colombia our activities have expanded and the focus has somewhat shifted. As well as increasing our interest in the region of the La Golondrina and Redención projects, we are now conducting more regional exploration over highly prospective areas, engaging more closely with the Colombian authorities and their post-conflict aspirations, and adopting a more innovative and sustainable approach to engaging communities and other regional stakeholders. Both Daniel and Iván bring unique skills and invaluable experience in regards to all aspects of Royal Road’s work in Colombia and elsewhere in Latin America. They will no doubt be crucial in Royal Road’s success as the Company enters this important new chapter in its development”.
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Cautionary Statement on Forward-looking Information
Cautionary statement: 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 Option Agreement. 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:
Royal Road Minerals contact: Dr. Tim Coughlin, President and Chief Executive Officer, by phone: USA-Canada toll-free (800) 638-9205, +44 (0)1534 887166, or +44 (0)7797 742800, or by email at email@example.com
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 Argentina Royal Road Minerals operates through its wholly owned Argentinian company, Minerales Camino Real Argentina. In Saudi Arabia and Morocco the Company operates through its 50% owned Saudi Arabian registered subsidiary, Royal Road Arabia.