Romios Gold Resources Inc. Announces Termination of Letter of Intent With Star Gold Resources Corp.
Romios Gold Resources Inc. Announces
Termination of Letter of Intent With Star Gold
Resources Corp.
Toronto, Ontario--(Newsfile Corp. - May 5, 2025) -
Romios Gold Resources Inc. (TSXV: RG) (OTC
Pink: RMIOF) (FSE: D4R)
("Romios Gold")
today announced that the parties have mutually agreed to
terminate the previously announced non-binding Letter of Intent ("LOI") dated February 28, 2025,
regarding the proposed acquisition by Star Gold of all the issued and outstanding shares of Romios'
wholly owned affiliate, Romios Gold Nevada Inc.
The contemplated transaction, which included the transfer of ownership and interests in the Scossa Mine
Property and the Kinkaid Property, was subject to various conditions including satisfactory due
diligence, regulatory approvals, and the successful completion of a capital raise. Following a thorough
review and ongoing discussions, both companies have determined that it is in their respective best
interests not to proceed with the proposed Share Purchase Agreement.
"We remain extremely confident in the quality and potential of the Scossa and Kinkaid properties",
stated Stephen Burega, President and CEO of Romios Gold. "While we were not able to complete the
proposed transaction under the originally proposed terms, Romios will continue to seek strategic
alternatives to unlock value from our Nevada-based assets, while also advancing our broader portfolio of
projects in British Columbia's Golden Triangle, as well as our large land package in Northern Ontario."
Both parties have expressed appreciation for the collaborative efforts during the negotiation period and
wish each other continued success in future endeavors.
About Romios Gold Resources Inc.:
Romios Gold Resources Inc. is a progressive Canadian mineral exploration company engaged in
precious- and base-metal exploration, focused primarily on gold, copper and silver. It has a 100%
interest in the Lundmark-Akow Lake Au-Cu property plus 4 additional claim blocks in northwestern
Ontario and extensive claim holdings covering several significant porphyry copper-gold prospects in the
"Golden Triangle" of British Columbia. Additional interests include the Kinkaid claims in Nevada
covering numerous Au-Ag-Cu workings, and two former producers: the Scossa mine property (Nevada)
which is a former high-grade gold producer and the La Corne molybdenum mine property (Quebec). The
Company retains an ongoing interest in several properties including a 2% NSR on McEwen Mining's
Hislop gold property in Ontario; a 2% NSR on Enduro Metals' Newmont Lake Au-Cu-Ag property in BC,
and the Company has signed a definitive agreement with Copperhead Resources Inc. ("Copperhead")
whereby Copperhead can acquire a 75% ownership interest in Romios' Red Line Property in BC.
For more information, please
click here
for Romios' website.
Romios has 264 million common shares outstanding, 284 million shares fully diluted.
This News Release contains forward-looking statements which are typically preceded by, followed by
or include the words "believes", "expects", "anticipates", "estimates", "intends", "plans" or similar
expressions. Forward-looking statements are not guarantees of future performance as they involve
risks, uncertainties and assumptions. We do not intend and do not assume any obligation to update
these forward-looking statements and shareholders are cautioned not to put undue reliance on such
statements. TSX Venture Exchange or its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) do not accept responsibility for the adequacy or accuracy of
this release.
For further information, please contact:
Stephen Burega, CEO & President
- 647-515-3734 or
John Biczok, P. Geo., VP Exploration
- 613-410-7877 or
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/250805