TORONTO, ONTARIO--(CCNMatthews - March 27, 2007) - The management of Romios Gold Resources Inc. ("Romios") (TSX VENTURE:RG)(OTCBB:RMIOF)(FRANKFURT:D4R) is pleased to announce the first National Instrument 43-101 compliant, inferred resource estimate for the Northwest Zone on its Newmont Lake Property located in the Galore Creek area of northwestern British Columbia. For location of the Newmont Lake Property, see property map in Romios' website: www.romios.com.
The inferred resource for the Northwest Zone are calculated to be 1,406,000 tonnes at a grade of 4.43 gpt Au, 0.22% Cu and 6.4 gpt Ag or a gold equivalent grade (AuEq) of 5.16 gpt. This equates to in-situ contained metal of 200,000 ounces of gold, 6,790,000 pounds of copper and 291,000 ounces of silver. These resources are reported at a base case gold equivalent cut-off grade of 2 gpt.
NW Zone Inferred Mineral Resource
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Cut-off
AuEq Au Ag AuEq Au Cu Ag
(gpt) Tonnes (gpt) Cu% (gpt) (gpt) (ounces) (pounds) (ounces)
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1 2,279,000 3.22 0.18 5.1 3.83 237,000 9,240,000 378,000
1.5 1,613,000 4.07 0.21 6.1 4.78 211,000 7,500,000 317,000
2 1,406,000 4.43 0.22 6.4 5.16 200,000 6,790,000 291,000
2.5 1,215,000 4.79 0.22 6.5 5.54 187,000 6,020,000 255,000
3 979,000 5.31 0.23 6.5 6.07 167,000 4,920,000 205,000
3.5 752,000 5.97 0.23 6.6 6.75 144,000 3,880,000 158,000
4 600,000 6.57 0.24 6.4 7.35 127,000 3,110,000 124,000
4.5 505,000 7.03 0.24 6.4 7.81 114,000 2,610,000 103,000
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NOTES
- Metal Prices Used: Gold US$485/oz, Copper US$2.00/lb, Silver US$8.50/oz.
- Metallurgical recoveries and net smelter returns are assumed to be 100%.
- In-situ undiluted mineral resources within a maximum distance of 50m from a drill hole.
- Mineral Resources are not Mineral Reserves as Mineral Resources have not demonstrated economic viability.
The NW Zone was the focus of extensive drill testing by Gulf International Minerals Limited between 1987 and 1990 and the Ken Zone was tested by a limited drill program in 1988 by Pezgold Resources. With the exception of several scattered drill holes, the majority of the remaining 19 occurrences have not been tested by diamond drilling.
Although the NW Zone is primarily a gold deposit, there is some minor contribution to the total net smelter return (NSR) anticipated from the copper and silver content and, as a result, the mineral resources are tabulated based on a gold equivalent (AuEq) cut-off grade.
Romios is not aware of any environmental, permitting, legal, claim title, taxation, socio-political, marketing or other constraints that could affect the resource estimate.
Tom Drivas, President of Romios, commented: "We are extremely pleased with these results, and we look forward to furthering the Newmont Lake Project to determine economic viability and to advancing our Galore Creek area projects to the same level".
The resource block model has been generated using geostatistical methods and is based on the geological and sample results from a total of 154 drill holes completed on the NW Zone. Independent consultant, Mr. Robert Sim, P.Geo is the Qualified Person in accordance with National Instrument 43-101 and is responsible for the inferred mineral resource estimate presented in this news release. A technical report prepared in accordance with National Instrument 43-101, will be filed on SEDAR within 45 days of this press release.
As previously reported (Press Release dated November 14, 2005), the claims which comprise the Newmont Lake Property form an irregular staircase-shaped block. This block is approximately sixteen kilometres long and six kilometres wide that covers a northeast oriented graben structure underlain by Late Triassic to Early Jurassic aged intrusives, sediments and volcanic rocks. In the Iskut River region, these rock units have potential to host high grade, vein-type gold occurrences such as the Snip deposit, volcanogenic massive sulfide mineralization similar to that developed at Eskay Creek, skarn-type copper/gold occurrences, and alkalic, porphyry copper/gold mineralization similar to that presently being evaluated by NovaGold Resources at their Galore Creek Project. According to published technical information there are a total of 22 intrusion related gold, copper and silver prospects located in the Newmont Lake area all of which are located within the Newmont Lake property.
The technical information contained in this press release has been reviewed and approved by Mr. Garth Kirkham, P.Geo., director of Romios Resources and a qualified person as defined by National Instrument 43-101.
About Romios Gold
Romios Gold Resources Inc. is a progressive Canadian mineral exploration company established in 1995 and headquartered in Toronto Canada. It is actively engaged in exploration and mineral development across North America with a primary focus on gold, silver and copper bearing properties. Romios Gold has significant mining interests in British Columbia, Ontario and Nevada. In 2007 Romios will undertake extensive field work and drilling on its Galore Creek properties in B.C. which are centrally located between NovaGold's deposit and Barrick's rich Eskay Creek mine. This year's intensive drilling and exploration work will help confirm and further improve the property's potential.
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. Shareholders are cautioned not to put undue reliance on such forward-looking statements.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION
Romios Gold Resources Inc.
Tom Drivas
President and Director
(416) 221-4124
(416) 218-9772 (FAX)
Email: romios@romios.com
or
Romios Gold Resources Inc.
Thomas Skimming
Vice President of Exploration and Director
(416) 444-0900
(416) 444-0586 (FAX)
Email: tmsk8ing@hotmail.com
or
Romios Gold Resources Inc.
Garth Kirkham
Director
(778) 836-1070
Email: gdkirkham@shaw.ca