Royal Standard Minerals, Inc. (RYSMF) Advances Its Goldwedge Property for Near-Term Gold Production
2011-08-12 18:00 ET - News Release
MANHATTAN, NV -- (MARKET WIRE) -- 08/12/11
Royal Standard Minerals Inc. (OTCBB: RYSMF) announces that it has made substantial progress at its Goldwedge Property, Nye County, Nevada, with the purchase of a "new" ball mill, current construction of the concrete foundation and piers. Management plans to have the ball mill installed on the foundation by the end of August 2011. After the testing and completion of the new mill components, management expects the mill to be fully operational by end of September 2011.
Additionally, The Company is constructing a "Rapid Infiltration Basin" (RIB) that will be part of the mine dewatering program, and is expected to be near completion by the end of August 2011. Underground remedial work, in decline 'A' is progressing with the re-bolting and clean-up in preparation for continuing the underground development. This work has included plans for the construction of a secondary escape and major adjustments to the underground ventilation system on the property. Plans are being made to start underground drilling and development programs. The program is progressing on schedule, with most of the current work program expected to be completed by the end of September 2011.
Further, the Company announces the resignation of J. Alan Ringler as CFO, effective as of June 17, 2011. The Company is pleased to announce that the position has been filled by Mr. Ike Makrimichalos. Mr. Makrimichalos is a CA and LPA with a BA from the University of Toronto, with 27 years experience as a Senior-Audit and Assurance Manager with Deloitte & Touche LLP, and recently as Controller for a public company. We believe that he is well suited as RYSMF's part-time CFO. As the duties increase we may expand his function to a full-time position.
RYSMF is a natural resource exploration and development company. Visit our website at
www.royalstandardminerals.com.
For further information about this release contact Mr. Rich Kaiser, Investor Relations, 800-631-8127.
Royal Standard Minerals cautions that statements made in press release and other forward looking statements made on behalf of the Company may be affected by such other factors including, but not limited to, volatility of mineral prices, product demand, market competition, imprecision of mineral estimates, and other risks detailed herein and from time to time in the Securities and Exchange Commission filings of the Company.
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Contact:
Rich Kaiser
Investor relations
757-306-6090