Toronto, Ontario--(Newsfile Corp. - October 26, 2017) - Royal Road Minerals Limited (TSXV: RYR) ("Royal Road" or the "Company")
is pleased to announce that the Territorial Delegation of the Department of Chinandega, a division of the Ministry for Environment
and Natural Resources ("MARENA") in Nicaragua, has issued the Company with an environmental permit (EP) which allows the Company to
conduct further exploration activities, including drill-testing at its Piedra Imán copper-gold project in northeastern
Nicaragua.
The Piedra Imán concession area is located in Chinandega District, 200km northwest of Managua via the Pan American Highway
(Figure 1). The concession extends over approximately 8000Ha and is in force for a further 20 years. Royal Road acquired 100% of
Piedra Imán through its acquisition of Caza Gold Corporation in May 2017 (see press release May 23, 2017). The project now forms
part of the Company's strategic alliance with local partner Hemco, a subsidiary of Grupo Mineros S.A. (MINEROS:CB), Colombia's
largest gold producer (see press release September 6, 2017).
Piedra Imán is a copper and gold project which shares many geological similarities with "cordilleran-style" Iron Oxide Copper
Gold (IOCG) systems such as those which occur in Chile and Peru. The Piedra Imán project was initially explored in the early 1970's
by Noranda Inc ("Noranda"). Noranda's work included the drilling of 17 shallow diamond drill holes and the development of one
exploration adit. Noranda's drilling and underground sampling intersected significant widths of copper mineralization including
DDH-851 (36.6 meters at 1.13% Copper), DDH-876 (14.8 meters at 1.65% Copper), DDH-846 (14.3 meters at 1.42% Copper) and DDH-818
(9.1 meters at 1.50% Copper). Samples were only sporadically assayed for gold, but drilling results included one interval of 3.6
meters at 6.3 g/t gold. These results were provided in analogue format, compiled by Royal Road, are historic in nature and have not
been verified by a qualified person. Noranda abandoned the project due to the onset of hostilities related with the Sandinista
revolution in 1974.
Recent geological mapping at Piedra Imán has revealed that copper (chalcopyrite and bornite) and gold mineralization is
associated with a breccia body and most commonly with magnetite-actinolite-albite alteration. Higher-grade gold mineralization is
related to steep-dipping actinolite bearing fractures in granitic rock which is located adjacent to and possibly structurally
beneath the breccia body (manto-style).
In order to assess the continuity and local extent of copper and gold mineralization at Piedra Imán, Royal Road collected
horizontal saw-cut channel samples (see press release June 21, 2017). A total of 9 channels were cut and sampled on 1 meter
intervals over a total strike distance of approximately 400m. Results are presented in Figure 1.
Royal Road will conduct an initial scout drilling program of 10 reverse-circulation drill holes for a total of 2000 meters to
test potential and help reveal the geometry and extent of copper and gold mineralization at the Piedra Imán project.
"With our permits now in place, we intend to mobilize drilling rigs and commence drilling at Piedra Imán as soon as possible"
said Dr Tim Coughlin, Royal Road's President and CEO. "When the project was initially drilled by Noranda in the early 1970's, core
recoveries were low, gold was not a principal focus and the Iron Oxide Copper Gold deposit-model was non-existent. We are very
excited by the potential of this project and committed to ensuring our work exceeds the requirements of MARENA and is exemplary in
terms of community engagement and environmental stewardship".
To view an enhanced version of Figure 1, please visit:
http://orders.newsfilecorp.com/files/4008/29972_figure1_enhanced.jpg
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
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
e statements relating to the 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 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 Alliance, Hemco, 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 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, 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
USA-Canada toll free 1800 6389205
+44 (0)1534 887166
+44 (0)7797 742800
info@royalroadminerals.com
