- Press Releases
Toronto, September 21, 2009 -- Romios Gold Resources Inc. (TSX-V: RG) was pleased to learn that the Canadian Federal Government will contribute up to C$130 million towards the construction of the C$400 million Northwest Power Transmission Line, a 287 kilovolt power line extending for 335 kilometres along Highway 37 from the town of Terrace to the vicinity of Bob Quinn Lake in northwestern British Columbia. Romios congratulates the Federal Government for their foresight in providing financial support for the expansion of British Columbia's existing power grid into sparsely populated regions to spur mineral exploration, mine development and the creation of alternative energy projects which would reduce carbon emissions by reducing the use of diesel generators in the area.
Romios also applauds the British Columbia Government for their determination in obtaining financial support from the federal government and their commitment to provide up to C$250 million for this very worthy project. In September 2008, Premier Gordon Campbell and the Province of British Columbia announced the initiation of the environmental assessment process and First Nations Consultation, a prelude to the construction of the Northwest Power Transmission Line which could commence as early as next year. In addition to the funds being provided by government, some private funding may be required. The power line has the potential to attract billions of dollars of private investment, create a significant number of new jobs and generate millions of dollars of revenue to the Federal and Provincial Governments on an annual basis.
Tom Drivas, President and CEO of Romios states: "We are very pleased with the spirit of co-operation between the Federal Government and the British Columbia Government to finance the construction of the extension of the Northwest Power Transmission Line which will facilitate the development of NovaGold-Teck Cominco's copper-gold-silver deposits in the Galore Creek area. Romios has several projects in the Galore Creek area and during the last several years, has spent over C$10million in exploration at its Newmont Lake and Trek properties. The construction of the power line would provide a significant part of the infrastructure required to further the economic potential of these projects".
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 and Nevada. The Corporation is undertaking extensive exploration work on its Galore Creek area properties in British Columbia, which are centrally located between NovaGold's large gold-copper-silver deposit and Barrick's high grade gold mine at Eskay Creek.
For further information, please contact:
Tom Drivas, President and Director: (tel) 416-221-4124, (fax) 416-218-9772 or (email) firstname.lastname@example.org
Thomas Skimming, Vice President of Exploration and Director: (tel) 416-444-0900, (fax) 416-444-0586 or (email) email@example.com
Exchange Listings and Symbols: TSX-V:RG, NASDAQ OTC:RMIOF, Frankfurt:D4R.
25 Adelaide Street East, Suite 1010
Toronto, ON Canada, M5C 3A1
Tel: 416-221-4124, Fax: 416 218-9772
Contact: Tom Drivas, President
Email Address: firstname.lastname@example.org
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.
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.
You can view the Next News Releases item: September 28, 2009, Romios Announces Results Of 2009 Drill Program At Trek & Newmont Lake Properties In British Columbia - Widespread Copper-Gold Intersected In All Drill Holes
You can view the Previous News Releases item: August 31, 2009, Romios Provides a Status Report on the Drill Program on its Trek Property in British Columbia
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