Royal Road Minerals Provides Colombian Exploration Update Regional reconnaissance and drainage geochemical sampling underway
Royal Road Minerals Provides Colombian Exploration
Update
Regional reconnaissance and drainage geochemical sampling underway
Toronto, Ontario--(Newsfile Corp. - November 5, 2018) -
Royal Road Minerals Limited (TSXV: RYR) ("Royal Road" or the
"Company") is pleased to provide an update on its gold and copper exploration activities in Colombia.
Royal Road is the largest application holder in Colombia's Nariño Province with in excess of some 350,000 hectares under
Concession Contract application. Nariño is widely considered to be one of the last remaining, highly prospective and under
prospected regions of the Andes mountain chain. The province hosts numerous high-grade gold occurrences and a largely
unexplored porphyry copper belt, which was identified by the Japanese International Cooperation Agency in the 1980's (Figure
1).
Figure 1: Narino region southern Colombia. Location of Royal Road Concession Contract Applications (black outline),
interpreted copper and gold belts, current activity.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4008/40844_rr2.jpg
Royal Road is a signatory to the British Embassy's Peace and Business Initiative and is committed to aligning its exploration
and development activities with the post-conflict aspirations of the Colombian Government and the international community. In
December 2017, Royal Road executed a landmark Collaboration Agreement with ECOMUN (see Press Release December 18,
2017), a body established in May 2017 under Presidential Decree and in accordance with the terms of the final peace
agreement executed between the Colombian Government and FARC-EP in November of 2016. The Collaboration Agreement
establishes the terms and conditions under which ECOMUN will assist the Company in attaining social license for exploration
and mining projects which are environmentally responsible and socially sustainable and which contribute to the reincorporation
of ex-combatants and the development of local communities.
As anticipated under the terms of the Collaboration Agreement, ECOMUN and Royal Road have established a Management
Committee, comprising two representatives from each party and an Independent Chairman. Dr Alvaro Leyva has been
appointed to the role of Independent Chairman. Dr Leyva is a lawyer and economic scientist; he was formerly a government
minister and Senator in the Colombian Congress and since 1980 he has played a pivotal role in peace negotiations between
the Colombian Government and armed guerilla groups including, M-19, FARC-EP and the ELN. The Management Committee
has established Community Liaison Committees (CLC's) in each of the eleven municipalities covered by Royal Road's
applications in Nariño and the CLC's have in-turn coordinated community and indigenous community consultations in various of
these municipalities with a view to securing permissions for the Company to commence regional drainage geochemical
exploration and negotiations on existing mine occurrences. In general, Royal Road's current exploration activities in Nariño are
focused on reconnaissance exploration and drainage geochemical sampling for porphyry copper and gold targets (see Figure
1) and on joint-venture and acquisition opportunities for gold only targets.
"As we close in on the first anniversary of our Collaboration Agreement with ECOMUN, we are pleased to see that field
operations are underway, that the management structure is functioning and that the time invested in attaining social license at
this early-stage of our exploration program appears finally to be paying off." Said Tim Coughlin, Royal Road Minerals President
and CEO. "It is our view and we believe it is generally well-accepted, that the exploration potential in Nariño speaks for itself, the
challenge is primarily on the social side and in order to secure our investment and ultimately realize full potential, we believe that
is where our initial efforts must focus."
Neither the 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.
The information in this news release was compiled, reviewed and verified by Dr. Tim Coughlin, BSc (Geology), MSc
(Exploration and Mining), PhD (Structural Geology),
FAusIMM
, President and CEO of Royal Road Minerals Ltd and a
qualified person as defined by National Instrument 43-101. More information can be found on Royal Road Minerals web site
at
www.royalroadminerals.com
Cautionary statement:
This news release contains certain statements that constitute forward-looking information
and forward-looking statements
within the meaning of applicable securities laws
(collectively, "forward-l
ooking statements") including
statements relating to
the
ECOMUN agreement
and
those describing
the Company
'
s
future plans and the expectations of its management that a
state
d result or condition will occur
. Such forward-looking
statements involve known and unknown risks, uncertainties and
other factors that may
cause the actual results, performance or achievements of
the Company
, or
developments in
the
Company
's business or in the
mineral resources
industry, or with respect to
the
ECOMUN agreement
, to differ materially
from the anticipated results, performance,
achievements or developments expressed or implied by such forward-looking
statements.
Forward-looking statements include all disclosure regarding possible events, conditions or
results of operations
that is based on assumptions about, among other things, future
economic conditions and courses of action, and assumptions
related to government
approvals, and anticipated costs and expenditures.
The words "
plans
", "
prospective
", "expect",
"intend", "intends to" and similar expressions identify forward looking
statements, which
may also include, without limitation,
any
statement relating to future events, conditions or circumstances. Forward-looking statements
of the Company contained
in this news release, which may prove to be incorrect, include, but are not limited to,
those related to the
ECOMUN
agreement
, and
the
Company's exploration plans
.
The Company
caution
s
you not to place undue reliance upon any such forward-looking statements, which
speak only as of
the date they are made. There is no guarantee that the
Company
's
business plans or operations
will be achieved. The risks
and uncertainties that may affect
forward-looking statements include, among others: economic market conditions, anticipated
costs and expenditures, government approvals, and other
risks detailed from time to time in
the Company's
filings with
Canadian provincial
securities regulators
or other applicable regulatory authorities
. Forward-looking statements included
herein are based
on
the
current plans, estimates, projections, beliefs and
opinions
of the Company
management and
,
except
as required by law,
the Company
do
es
not undertake any
obligation to update forward-looking statements should
assumptions related to these plans,
estimates, projections, beliefs and opinions change.
For further information please contact:
Dr. Tim
othy
Coughlin
President and Chief Executive Officer
USA-
Canada
toll
free 1800 6389205
+44 (0)1534 887166
+44 (0)7797 742800