Nicaragua is the largest gold producer in Central America with currently three operating gold mines, La Libertad, El Limon (B2Gold) and Bonanza (Hemco/Mineros). The country is highly prospective and considered a mining-friendly jurisdiction. In 2017, Royal Road acquired the interests of Caza Gold in Nicaragua which include the Los Andes porphyry copper-gold and the Piedra Iman iron-oxide copper-gold prospects. The Company has executed a 50-50 strategic exploration alliance with Hemco/Mineros in-which both companies combine exploration assets and explore in Nicaragua on a 50-50 basis. This arrangement also provides Royal Road access to the highly prospective Golden Triangle region of northeastern Nicaragua.