Romios Signs Letter Agreement with Mcewen Mining to Sell Timmins Hislop Property
Romios Signs Letter Agreement with Mcewen Mining to
Sell Timmins Hislop Property
Toronto, Ontario--(Newsfile Corp. - April 3, 2018) -
Romios Gold Resources Inc.
(TSXV: RG) (OTC Pink: RMIOF) (FSE:
D4R)
("
Romios
" or the "
Company
")
is pleased to announce that it has signed an agreement with McEwen Mining Inc. (the
"
Letter Agreement
") to sell the Company's Timmins Hislop property (the "
Roger Gold Property
") in Hislop Township in the
Matheson gold camp, Ontario for $500,000 worth of common shares of McEwen Mining priced at the weighted average closing
price of such shares on the New York Stock Exchange for the five trading days preceding the closing of the transaction. Romios
will also retain a 2% net smelter returns royalty ("
NSR
") in the Roger Gold Property. McEwen Mining will have the right at any
time to purchase a 1% NSR from the Company for $2 million.
The Letter Agreement is subject to the execution of a definitive purchase agreement on or before April 27, 2018, the completion
of satisfactory due diligence by McEwen Mining and the customary and agreed-upon representations, warranties, covenants and
conditions for a transaction of this nature.
A
bout Romios Gold Resources Inc.
Romios Gold Resources Inc., a progressive Canadian mineral exploration company established in 1995, is engaged in precious
and base metal exploration primarily focused on gold, silver and copper in its properties in the Golden Triangle area,
northwestern British Columbia. In addition to the Lundmark-Akow Lake and Hislop properties in Ontario, Romios has other
property interests in Quebec and Nevada.
This News Release contains forward-looking statements which are typically preceded by, followed by or including 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.
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.
For further information, please contact:
Tom Drivas,
President and Director, (tel) 416-221-4124, (fax) 416-218-9772 or (email)
.
Frank van de Water
, Chief Financial Officer and Director, (tel) 416-221-4124 or (email)
.