RYR.V · 2022-08-03 12:00:00

Royal Road Provides Drilling Update from Its Caribe Gold Discovery; Nicaragua Infill Diamond Drilling Intersects 66 Meters at 1.3 Grams Per Tonne Gold, Scout - RC Drilling Extends Gold Mineralization 300 Meters to the Southwest

Drill Results Exploration Programs

Royal Road Provides Drilling Update from Its

Caribe Gold Discovery; Nicaragua

Infill Diamond Drilling Intersects 66 Meters at 1.3 Grams Per

Tonne Gold, Scout - RC Drilling Extends Gold Mineralization

300 Meters to the Southwest

Toronto, Ontario--(Newsfile Corp. - August 3, 2022) - Royal Road Minerals Limited (

TSXV: RYR

)

("Royal Road" or the "Company") is pleased to provide a drilling update from its Caribe gold discovery

in northeastern Nicaragua.

The Caribe project forms a part of the Company's Strategic-Alliance agreement (see press release;

September 6, 2017) with Hemco Mineros Nicaragua ("Hemco" a subsidiary of Mineros S.A.,

TSX:

MSA

) and is located in the highly prospective "Golden Triangle" of northeastern Nicaragua. Royal Road

Minerals is operator of the Strategic Alliance.

Royal Road's exploration team discovered the Caribe project during reconnaissance exploration in

February of 2018. Outcrop at Caribe is concealed under soil and saprolite cover and there is no

previous record of mining or mineralization in the area. In 2019, Royal Road and Hemco completed an

initial 4-hole, exploratory drilling program at Caribe which returned promising results for gold. A follow-up

diamond drilling program commenced at the project during August of 2020 and has returned

encouraging results including CB-DDH-025, 207.45 meters at 1.1 grams per tonne, CB-DDH-016,

100.45 meters at 1.0 gram per tonne; CB-DDH-017, 90 meters at 1.0 gram per tonne and CB-DDH-

015, 63 meters at 1.0 gram per tonne gold (see Press Releases November 10, 2020, February 11,

2021, March 17, 2021, September 1, 2021 and

Table 1

Diamond drilling has advanced as a combination of infill and step-out exploratory drilling in order to

resolve geometry within the known breccia body (carbonate-sericite zone) and test for a possible

intrusive source to later-stage, pyrite, chalcopyrite and molybdenite mineralized hydrothermal breccia

bodies.

Significant new results from infill diamond drilling include:

CB-DDH-039

68 meters at 0.9 grams/tonne gold

CB-DDH-040

104 meters at 0.8 grams/tonne gold; and

66 meters at 1.3 grams/tonne gold

CB-DDH-044

114 meters at 1.0 grams/tonne gold

(not true width and the company does not have sufficient information to make a determination of the true

widths of the drill hole intersections)

TABLE 1: CARIBE PRELIMINARY DRILL RESULTS TABLE

GOLD

COMMENTS

HOLE

Z(m)

DIP

AZIM

DEPTH

FROM

LENGTH

(m)*

GRADE

(g/t)

2019 Program

CB-

DDH-

001

793252

1530691

-60

306

94.55

2.00

30.00

1.1

CB-

DDH-

002

793252

1530688

-60

111

138.57

1.00

14.00

1.0

33.00

37.00

1.0

CB-

DDH-

003

793254

1530689

-60

112.85

78.00

80.00

1.7

BOGGED AND ABANDONED

110.00

112.85

(EOH)

2.85

1.2

CB-

DDH-

004

793346

1530775

-60

67.10

13.00

31.00

1.0

BOGGED AND ABANDONED

62.00

67.00

(EOH)

1.0

2020-2021 Program

CB-

DDH-

005

793258

1530689

-60

220

100.65

NO SIGNIFICANT INTERSECTIONS >1g/t GOLD

CB-

DDH-

006

793350

1530772

-60

160.12

28.00

102.00

0.9

129.00

143.00

1.0

CB-

DDH-

007

793349

1530769

-60

220

123.52

22.00

28.00

1.0

BOGGED AND ABANDONED

61.00

63.00

1.0

65.00

77.00

1.0

83.00

89.00

1.0

CB-

DDH-

008

793395

1530824

-60

79.30

NO SIGNIFICANT INTERSECTIONS >1g/t GOLD

CB-

DDH-

009

793270

1530770

-60

125

161.65

9.00

14.00

1.0

BOGGED AND ABANDONED

37.00

82.00

1.0

123.00

158.00

1.1

CB-

DDH-

010

793296

1530664

-60

305

114.37

0.00

42.00

1.0

CB-

DDH-

011

793338

1530633

-60

80.82

38.00

80.00

1.0

BOGGED AND ABANDONED

CB-

DDH-

012

794646

1532046

-60

360

184.52

NO SIGNIFICANT INTERSECTIONS >1g/t GOLD

CB-

DDH-

013

794646

1532046

-60

335

131.15

CB-

DDH-

014

793875

1532118

-60

180.00

CB-

DDH-

015

793349

1530771

-90

190.62

18.00

26.00

1.0

BOGGED AND ABANDONED

53.00

62.00

1.0

88.00

151.00

1.0

CB-

DDH-

016

793314

1530813

-60

125

149.45

49.00

149.45

(EOH)

100.45

1.0

BOGGED AND ABANDONED

CB-

DDH-

017

793295

1530744

-60

244.00

51.00

141.00

1.0

BOGGED AND ABANDONED

CB-

DDH-

018

793364

1530641

-60

68.62

NO SIGNIFICANT INTERSECTIONS

>1g/t GOLD

BOGGED AND ABANDONED

CB-

DDH-

019

793296

1530664

-50

102.17

0.00

35.00

1.0

BOGGED AND ABANDONED

56.00

66.00

1.0

79.00

82.00

2.1

CB-

DDH-

020

793604

1530412

-60

67.10

NO SIGNIFICANT INTERSECTIONS

>1g/t GOLD

BOGGED AND ABANDONED

CB-

DDH-

021

793349

1530846

-60

125

250.10

88.00

117.00

1.0

CB-

DDH-

022

793498

1530892

-60

236

353.80

75.00

87.00

1.2

97.00

99.00

1.0

110.00

117.00

1.0

186.00

191.00

1.0

CB-

DDH-

023

793498

1530892

-60

340.07

188.90

199.00

10.10

0.6

0.86

960

COPPER

MOLYBDENUM

ppm

SILVER

ppm

CB-

DDH-

024

793338

1530633

-50

114.57

NO SIGNIFICANT INTERSECTIONS

>1g/t GOLD

BOGGED AND ABANDONED

CB-

DDH-

025

793290

1530792

-60

125

224.17

3.00

210.45

207.45

1.1

INCLUDING 21m at 4.2 g/t GOLD

CB-

DDH-

026

793383

1530891

-60

125

130.57

116.75

126.57

9.80

1.4

CB-

DDH-

027

793386

1530889

-60

305

149.45

29.00

32.50

3.50

1.0

83.00

114.00

31.00

1.0

CB-

DDH-

028

793423

1530824

-60

305

218.07

101.00

103.00

2.00

1.0

139.90

147.65

7.75

0.4

0.23

COPPER

MOLYBDENUM

ppm

SILVER

ppm

155.00

163.00

8.00

1.3

CB-

DDH-

029

793496

1530893

-60

305

242.47

177.70

215.50

37.80

1.0

CB-

DDH-

030

793454

1530965

-60

305

222.65

NO SIGNIFICANT INTERSECTIONS

>1g/t GOLD

CB-

DDH-

031

793539

1530944

-60

305

215.02

CB-

DDH-

032

793385

1530645

-60

305

170.80

62.00

75.00

13.00

0.9

CB-

DDH-

033

793547

1530903

-60

305

218.07

NO SIGNIFICANT INTERSECTIONS

>1g/t GOLD

CB-

DDH-

034

793289

1530795

-90

166.22

CB-

DDH-

035

793289

1530795

-60

305

195.63

CB-

DDH-

036

793399

1530740

-60

220

137.25

84.00

105.98

21.98

0.8

CB-

DDH-

037

793440

1530771

-60

220

190.62

NO SIGNIFICANT INTERSECTIONS

>1g/t GOLD

CB-

DDH-

038

793442

1530712

-60

220

140.30

CB-

DDH-

039

793339

1530739

-90

166.22

51.00

119.00

68.00

0.90

135.00

139.00

4.00

1.00

CB-

DDH-

040

793274

1530669

-50

274.50

0.00

104.00

0.80

139.00

205.00

66.00

1.30

CB-

DDH-

041

793859

1530855

-50

325

227.22

NO SIGNIFICANT INTERSECTIONS

>1g/t GOLD

CB-

DDH-

042

793276

1530507

-50

250

76.25

NO SIGNIFICANT INTERSECTIONS

>1g/t GOLD

CB-

DDH-

043

793277

1530509

-50

170

56.42

NO SIGNIFICANT INTERSECTIONS

>1g/t GOLD

CB-

DDH-

044

793313

1530852

-55

150

239.42

90.00

204.00

114.00

1.00

*NOT TRUE WIDTH AND THE COMPANY DOES NOT HAVE SUFFICIENT INFORMATION TO MAKE A DETERMINATION OF THE TRUE

WIDTHS OF THE DRILL HOLE INTERSECTIONS

DOWN HOLE CUT-OFF 0.2 g/t gold

MAXIMUM INTERNAL DILUTION, 10 Meters

Figure 1

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/4008/132683_figure%201.jpg

Drill hole CB-DDH-040 in particular has identified significant further gold mineralization within the

carbonate-sericite zone at-depth (see Table 1 and Figure 1) and interestingly beyond this

zone and

within mafic lavas that were previously interpreted as basement to the mineralizing system at Caribe.

Step-out exploratory drill holes have intersected native copper, copper oxides and anomalous gold (see

Figure 1) but have not, as yet, identified a possible copper and gold mineralized intrusive source.

In September 2021, the Company commenced a program of grid-based scout reverse-circulation drilling

at the project. The program utilizes a small, low-impact, man-portable reverse-circulation (RC) drilling rig

which drills through soil and saprolite cover down to the first 2-3 meters of weathered rock where a

sample is taken for analysis. Results have now been returned for 312 vertical scout-RC drill holes

averaging approximately 18m in depth (see Figure 1).

Results received to-date imply that the gold mineralized system remains open for a further approximately

300 meters towards the west and southwest and suggests a broad and significant copper anomaly

towards the east (Figure 1). Interestingly, the newly identified gold mineralization located to the west of

the project area, is hosted in the footwall to a major crustal scale fault-zone (see Figure 1B), which was

previously assumed to be barren. 25m-spaced infill scout-RC drilling is planned in this newly identified

area in order to better constrain geometry prior to diamond drilling.

"Infill drilling in the main breccia body at Caribe is further extending gold mineralization to depth and the

Scout-RC program is fully functioning and identifying some interesting new targets for further potential

gold and possibly copper mineralization at the project," said Tim Coughlin, Royal Road's President and

CEO "New discoveries are full of new surprises, Caribe is reminding us of the power of observation and

the value of an open mind".

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. Royal Road

Minerals employees are instructed to follow standard operating and quality assurance procedures

intended to ensure that all sampling techniques and sample results meet international reporting

standards. More information can be found on Royal Road Minerals web site at

www.royalroadminerals.com

Quality Assurance and Quality Control:

Diamond drill core is cut in half over 1-meter downhole intervals using a core saw. Samples are

prepared and assayed by independent and ISO accredited laboratories of Bureau Veritas Minerals

(BVM) and their local subsidiaries. Bagged 1-meter samples are collected from site and delivered to

BVM sample preparation laboratories in Managua. Samples are prepared using the BVM codes

PRP70-250 plus PUL85, where samples are crushed to 70% less than two millimeters, a riffle split of

250 grams is collected and then pulverized to better than 85 per cent passing 75 microns. Prepared

sample pulps are then sent for analysis to BVM labs in Vancouver Canada. Gold is analyzed by fire

assay with an atomic absorption finish and a measurement range of 0.005 to 10 ppm. Samples over 10-

ppm gold are re-analyzed by fire assay with a gravimetric finish. Multielement concentrations are

analyzed by four-acid digestion and inductively coupled plasma mass spectrometer. Samples over

10,000ppm Cu, Zn, Pb or Mn and 200 ppm W, are re-analyzed with four acid digestion and Inductively

Coupled Plasma Emission Spectrometer (ICP-ES). Commercially prepared standards (gold-copper

pulps), blanks (pulps and coarse chips) and field duplicates are inserted into the sample stream by

Royal Road Minerals for a total of 15% QA/QC to ensure sample precision. In the case of duplicate

analyses of a sample, the average of both analyses is used as the final reported value. Unless otherwise

stated, gold grades are not capped for calculation of length-weighted averages.

RC chip samples are taken every meter after having entered 2-3 meters within the saprock-fresh rock

boundary. Samples are collected from the drilling site and dried at the core yard. Where dry sample

weights exceed 4.5Kg they are split. Bagged 1-meter samples are collected from site and delivered to

the BVM sample preparation laboratory in Managua. Samples are prepared using BVM codes PRP70-

250 plus PULSW where a riffle split of 250 grams is collected and then pulverized to better than 85 per

cent passing 75 microns. Sample pulps are then sent for analysis to BVM labs in Vancouver Canada.

Gold is analyzed by fire assay with an atomic absorption finish and a measurement range of 0.005 to 10

ppm. Samples over 10 ppm gold are re-analyzed by fire assay with a gravimetric finish. Multielement

concentrations are analyzed by four-acid digestion and inductively coupled plasma mass spectrometer.

Samples over 10,000ppm Cu, Zn, Pb or Mn and 200 ppm W, are re-analyzed with four acid digestion

and Inductively Coupled Plasma Emission Spectrometer (ICP-ES). Commercially prepared standards

(gold-copper pulps), blanks (pulps and coarse chips) and field duplicates are inserted into the sample

stream by Royal Road Minerals for a total of 15% QA/QC to ensure sample precision. In the case of

duplicate analyses of a sample, the average of both analyses is used as the final reported value. Unless

otherwise stated, gold grades are not capped for calculation of length-weighted averages.

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-looking

statements") including statements relating to the Hemco-Mineros Alliance and those describing the

Company's future plans and the expectations of its management that a stated 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

Hemco-Mineros Alliance, 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 Hemco-Mineros Alliance,

Hemco-Mineros, and the Company's plans exploration plans.

The Company cautions 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 anticipated benefits of the

Hemco-Mineros Alliance and 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, in part, on information

provided to the Company by Hemco-Mineros, and, except as required by law, the Company does 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. Timothy Coughlin

President and Chief Executive Officer

+44 (0)1534 887166

[email protected]

To view the source version of this press release, please visit

https://www.newsfilecorp.com/release/132683

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