Romios Announces Aggressive $6.0+ Million Exploration Program for 2011 in the Galore Creek Area, Northwestern British Columbia and Acceleration of 2010 Warrants
Published : May 05, 2011
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TORONTO, ONTARIO--(Marketwire - May 5, 2011) - The management of Romios Gold Resources Inc. (News - Market indicators)(OTCBB:RMIOF)(FRANKFURT:D4R) is pleased to announce that it will undertake an aggressive exploration program beginning in late May 2011 on its Trek, Dirk and Newmont Lake properties located in northwestern British Columbia. The program, estimated to cost about $6.0 million, will consist of approximately 11,800 metres of Diamond drilling on the Trek, Dirk, and Newmont Lake properties, with geophysical surveys on the Trek, Andrei and Dirk properties. In addition, systematic prospecting and geochemical sampling will be carried out along the 35 kilometre long Stikine VMS belt located on Romios' Newmont Lake property, recently described as, "an active VMS mineralizing system of regional extent" and called the "Last Frontier of the Golden Triangle," by the British Columbia Ministry of Mines. (Press Release dated March 3, 2011; Mihalynuk et al., 2011).

Trek Property: Au-Cu Porphyry

The 2011, 8,200 metre drill program on the Trek property's North Zone is designed to expand the pervasive porphyry-style copper and gold mineralization. It will also test the significant opportunities for added tonnage at the North Zone identified by previous drill campaigns and will target a large, deep conductor located below and adjacent to the previous drilling which was identified by recent Quantec Titan-24 geophysical surveys (Press Release November 4, 2010). Ground geophysical surveys consisting of 2.4 line kilometres and down-hole induced polarization (IP), resistivity (RES) and magnetics (MAG) surveys, and TEM loop geophysical surveys are planned in early June to further refine the exploration and infill drilling of the North Zone.

Four holes totaling 2,000 metres will additionally be drilled to test for mineralization at Trek's Tangle Zone, where a deep conductive anomaly identified during the 2010 Quantec Titan-24 geophysical survey is the main drill target. The anomaly correlates well with grab sample assays and a significant soil copper-gold geochemical anomaly. Previous grab samples assayed up to 9.6 g/t Au, and 16.45% Cu with 7.56 g/t Au. Soil sampling in the area assayed up to 5.31 g/t Au and 12.2% Cu (Press Release dated November 4, 2010).

The Trek property, 100% owned by Romios, consists of 5 land tenures which cover 2,693.27 hectares (6,654.98 acres) in the Galore Creek Area which encompasses GCMC's (NovaGold and Teck Resources) Galore Creek Project, that contains a large, undeveloped, porphyry-related, copper-gold-silver deposit. Since acquiring the Trek property in 2006, Romios has been carrying out exploration programs to evaluate the widespread zones of breccia-hosted copper-gold mineralization and zones of porphyry-style gold-copper mineralization on the property.

Dirk Property: Cu-Au Porphyry

The 1200-metre drill program planned for the Dirk property is designed to evaluate the significance of the extensive, high-grade copper-gold-silver mineralization encountered on the property where surface sampling has identified extensive veinlets and stringers of bornite, covellite and trace amounts of chalcopyrite. A 2010 mapping project from the British Columbia Geological Survey ("BCGS") supported Romios' contention that the Dirk property mineralization is analogous to and may be as large as the Galore Creek Project (Press Release March 3, 2011). Geophysical surveys consisting of three line kilometre and 2 TEM loop geophysical surveys will also be conducted at the Birthday Jim, Dirk, Telena, Ridge and Icefield Zones on the Dirk property.

The Dirk property, 100% owned by Romios, consists of 3 contiguous claims covering 1,202.68 hectares (2,971.78 acres) in the vicinity of the Company's Newmont Lake property. During 2010 field work, Romios geologists conducted additional sampling at the Telena showing, which included a chip sample with 1.23% Cu, 1.00 g/t Au and 12.88 g/t Ag over 3 metres (Press Release February 9, 2011), and discovered and sampled the Ridge showing. The program focused on connecting the mineralization between the Dirk, Telena and Ridge Zones, and identified three drill sites designed to intersect and explore the exposed mineralization at depth. The presence of high-grade mineralized surface exposures, spanning 300 metres in elevation for over 2.4 kilometres horizontally indicates the potential for rapid exploration growth in the developing mineral district.

Newmont Lake & Andrei Properties: Au, Cu, Ag, Zn VMS and Cu-Au Porphyry

The Newmont Lake property consists of 6,200 hectares (15,320 acres) with an NI 43-101 inferred resource of 1,406,000 tonnes containing 200,000 ounces of gold at 4.43 g/t, 6,790,000 lbs. of copper at 0.22% and 291,000 ounces of silver at 6.4 g/t at its Northwest Zone (Mineral Resources have not demonstrated economic viability and therefore are not Mineral Reserves).

The drill program planned for the Newmont Lake property may include 400 metres of drilling at the Ken Zone, and a pre-assessment study for future development of the Northwest Zone resource. In addition, Romios will conduct geochemical sampling and systematic prospecting along the 35 km long Stikine VMS belt. Mitch Mihalynuk and Jim Logan of the Ministry of Forests, Mines and Lands postulated that the Dirk property and the VMS belt discoveries, of which Romios is the primary tenure holder, are "unprecedented opportunities to expand the 'Golden Triangle' to the north, from the Eskay Creek, Snip, and Rock and Roll deposits, towards the large Cu-Au-Ag porphyries in the neighbouring Galore Creek area" which includes Romios' Trek property and the NovaGold/Teck Resources' Copper Canyon property (Press Release March 3, 2011).

Expiry Date of 2010 $0.25 Warrants accelerated to June 2, 2011 and additional financing

Pursuant to the terms of the $0.25 warrants issued in the summer of 2010 pursuant to various flow-through and working capital private placements announced on July 6, 2010, July 15, 2010 and August 31, 2010 (collectively, the "PP Press Releases"), the expiry date of the warrants would be accelerated if the Romios Gold stock traded at $0.50 or more for 10 consecutive trading days (the "Accelerated Warrants"). As of May 3, 2011, being the "Final Trading Day" as defined in the warrant certificates and PP Press Releases, the common shares of Romios Gold had traded at more than $0.50 for 10 consecutive trading days. Please be advised that the new expiry date for the Accelerated Warrants is now June 2, 2011. If funds are not received by the Company by the close of business on Thursday June 2, 2011, any unexercised Accelerated Warrants will expire. If all Accelerated Warrants are exercised, the Company will receive approximately $1.53 million.

The Company will need additional funding to fully execute the above plans and it believes that it has the ability to raise any capital required to complete this exploration program.

The technical information contained in this press release has been reviewed and approved by Mr. Mel de Quadros, Ph.D., P.Eng., Director of Romios Gold Resources Inc. and a qualified person as defined by National Instrument 43-101.

About Romios Gold Resources Inc.

Romios Gold Resources Inc., a progressive Canadian mineral exploration company established in 1995, is headquartered in Toronto and is actively engaged in precious and base metal exploration across North America with a primary focus on gold, silver and copper. Romios has significant property interests in British Columbia, Ontario, Quebec and Nevada. The Company is undertaking extensive exploration work on its Galore Creek area properties in British Columbia, which are centrally located between Galore Creek Mining Corporation's large copper-gold-silver deposit and Barrick's high grade gold mine at Eskay Creek.

Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

Neither 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.

Romios Gold Resources Inc.
Tom Drivas
President and Director
416-221-4124
416-218-9772 (FAX)
romios@romios.com
or
Romios Gold Resources Inc.
Mel de Quadros, Ph.D., P.Eng.
Director
416-668-6145
ymirconsulting@gmail.com
or
Michael D'Amico
CFO, Investor Relations
647-500-6023
Michael@baystreetconnect.com
or
Head Office:
25 Adelaide Street East, Suite 1010
Toronto, ON Canada, M5C 3A1
416-221-4124
416-218-9772 (FAX)
www.romios.com
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Romios Gold Resources Inc

PRODUCER
CODE : RG.V
ISIN : CA7759041055
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Romios Gold Res. is a gold producing company based in Canada.

Romios Gold Res. holds various exploration projects in Canada.

Its main asset in production is SCOSSA GOLD in USA and its main exploration properties are LA CORNE, SEAGOLD, LUNDMARK-AKOW LAKE, CRY LAKE (NIZI CREEK), JW PROPERTY, TIMMINS HISLOP, TREK, NEWMONT LAKE and ROYCE/PORC in Canada.

Romios Gold Res. is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 6.7 millions as of today (US$ 5.3 millions, € 4.7 millions).

Its stock quote reached its highest recent level on December 31, 2007 at CA$ 1.02, and its lowest recent point on November 15, 2019 at CA$ 0.02.

Romios Gold Res. has 167 270 000 shares outstanding.

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Annual reports of Romios Gold Resources Inc
Annual Report Filed on SEDAR
Financings of Romios Gold Resources Inc
12/12/2011Closes Flow-Through Financing
3/29/2011Closes $1.3 Million Financing
Option Grants of Romios Gold Resources Inc
6/28/2007Announces Appointment of New C.F.O. and Grant of Stock Optio...
Nominations of Romios Gold Resources Inc
4/9/2013Announces Appointment of Chief Operating Officer
2/16/2011Announces Appointment of New C.F.O.
Project news of Romios Gold Resources Inc
2/19/2014Obtains Exploration Permit And Enters Into A Letter Of Inten...
1/27/2014Expands its Land Position in Northwestern B.C.
1/23/2014to Exhibit at the Mineral Exploration Roundup
10/7/2013reports an average 0.47% copper, 0.27g/t gold and 3.77 g/t s...
7/15/2013s Activity on the Timmins - Hislop Property
1/24/2013to Exhibit at the Mineral Exploration Roundup
10/25/2012(Newmont Lake)Intersects 3.99 g/t Au, 0.17% Cu & 2.36 g/t Ag Over 11.35 Me...
8/27/2012Expands Tenure Position And Provides Exploration Update On I...
8/9/2012Provides an Update on its Exploration Program in the Golden ...
7/10/2012Commences Drilling And Exploration In The Golden Triangle, N...
5/29/2012Announces $1.4 Million Exploration Program for 2012 in the G...
4/18/2012(Trek): Activities Update on the Trek and Newmont Lake Projects, N...
4/3/2012is Pleased by AltaGas and Tahltan First Nations Agreement to...
3/5/2012(Trek)Presents Status Update on Trek Property Copper-Gold-Silver P...
1/11/2012(Timmins Hislop)Options Timmins Hislop Property to Mexivada
7/12/2011(Trek).: Ground Geophysical Survey Indicates Continuity of the Dee...
6/2/2011(Trek)Announces the Commencement of Its Aggressive $6.0+ Million D...
5/5/2011(Trek)Announces Aggressive $6.0+ Million Exploration Program for 2...
5/5/2011(Newmont Lake)Announces Aggressive $6.0+ Million Exploration Program for 2...
5/5/2011(Trek)Announces Aggressive $6.0+ Million Exploration Program for 2...
5/5/2011(Newmont Lake)Announces Aggressive $6.0+ Million Exploration Program for 2...
12/18/2007(Newmont Lake) Intersects 7.82 GPT Gold over 19.69 Metres...
5/16/2007Announces Filing of National Instrument 43-101 Report
5/15/2007To Initiate a Diamond Drilling Program on its Property in th...
Corporate news of Romios Gold Resources Inc
7/28/2016Romios Closes Non-Brokered Offering
7/13/2016Romios Announces the Appointment of Aranea Partners, Inc. as...
6/10/2016Romios Announces Financial Support for its Akow Lake Project...
6/10/2016Romios Announces Non-Brokered Offering and First Closing
5/19/2016Romios Announces Financial Support For Its Akow Lake Project...
4/20/2016Romios Announces Grant of Stock Options
1/5/2016Romios Gold Announces Appointment of Chief Financial Officer
9/10/2015Romios Announces Additional Prospecting and Sampling on Its ...
2/12/2015Romios Announces Results of a Geotech Ltd. VTEM(R) plus Airb...
11/4/2014Romios Unaware of Any Material Change
9/23/2014Romios Reports on Its 2014 Burgundy Ridge Exploration Progra...
7/22/2014Romios Commences Summer Exploration Program on Its Newmont L...
6/26/2014Romios Announces 2014 Summer Exploration Program on Its Newm...
5/6/2014Romios Announces Grant of Stock Options
4/16/2014Romios' ZTEM Survey Results on the Newmont Lake Property Ide...
2/7/2014Doubles Its Holdings In Sheslay Valley, B.C.
10/7/2013Reports an Average 0.47% Copper, 0.27 g/t Gold and 3.77 g/t ...
9/18/2013(Newmont Lake)Announces Completion Of A 359 Line Km Helicopter-Borne ZTEM ...
9/18/2013(Newmont Lake)Announces Completion of A 359 Line Km Helicopter-Borne ZTEM ...
9/4/2013Announces Initial Exploration Results For 2013, Including Di...
7/15/2013s Activity on the Timmins-Hislop Property
5/30/2013Acquires Additional 2900 Hectares in Its Golden Triangle Pro...
5/30/2013Acquires Additional 2900 Hectares in Its Golden Triangle Pro...
4/26/2013Re-Adopts Shareholder Rights Plan and Updates By-Laws
11/13/2012Encounters Gold, Copper, Silver and Significant Scandium Min...
10/30/20122012 China Mining Conference and Exhibition and Canada Miner...
10/25/2012(Newmont Lake)Intersects 3.99 g/t Au, 0.17% Cu & 2.36 g/t Ag over 11.35 Me...
10/10/2012(Newmont Lake)Encounters Widespread Gold, Copper, and Silver Mineralizatio...
10/10/2012Encounters Widespread Gold, Copper, and Silver Mineralizatio...
9/4/2012Lawrence Roulston Features Romios Gold
7/20/2012Featured on CEO Clips Airing on BNN
4/6/2012Romios Gold Among Rush to Develop BC's Golden Triangle
3/1/2012Please Visit Romios Gold at PDAC's Investors Exchange Booth ...
1/12/2012Mid-Day Breaking News From Blue River, Alexandria, Eagle Hil...
1/12/2012(La Corne)Intersects 100.90 metres (331.04 feet) of 0.061% MoS2 Inclu...
12/14/2011(Trek)Intersects 7.87% Cu, 2.17 g/t Au, 40.39 g/t Ag over 2.15 m w...
8/4/2011Jay Taylor Gives Romios a New Buy Recommendation, July 29, 2...
6/28/2011(Trek)Announces Completion of NI 43-101 Report for Its Trek Proper...
6/23/2011Announces Completion of Airborne Geophysical Survey Over the...
4/20/2011.: Unaware of Any Material Change
3/2/2011Northwest Power Line Environmental Assessment Certificate Ap...
6/5/2007Confirms That it Abandoned Merger With Copper Canyon Resourc...
6/5/2007Announces not Proceeding with Merger With Copper Canyon Reso...
5/8/2007FUGRO AIRBORNE GEOPHYSICAL SURVEYS AT THEIR GALORE CREEK PRO...
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