Royal Road Intersects 303.7 Meters at 1.1 Grams per Tonne Gold Equivalent in Newly Discovered Porphyry Copper and Gold System at Its Guintär Project; Colombia

Includes 62.0 meters at 2.1 grams per tonne Gold, 12.4 grams per tonne Silver and 0.62% Copper

Toronto, Ontario--(Newsfile Corp. - December 14, 2021) - Royal Road Minerals Limited (TSXV: RYR) ("Royal Road" or the "Company") is pleased to announce results from the first three drill holes of its current drilling program at the Guintär copper-gold project in Antioquia Department, Colombia.

The Guintär project is part of the Guintär-Niverengo and Margaritas (GNM) project area which comprises the two contiguous Guintär, and Niverengo concession contracts and the neighboring Margaritas concession contract located in the Middle Cauca Valley, approximately 50 Km west of Medellin in Antioquia Department, Colombia. The titles were acquired through the Company's purchase of Northern Colombia Holdings Limited, an affiliate of AngloGold Ashanti Limited (see Press Release May 31, 2019). The GNM area is subject to a Strategic Alliance Agreement between the Company and Mineros S.A. ("Mineros TSX: MSA; see Press Release March 2, 2020). Under the terms of the Agreement, Mineros currently own a 25% interest in the GNM project area and may acquire a further 25% (up to a total 50%) interest by providing the balance of a further USD $1.5M in exploration funding. Royal Road Minerals are operators of the Strategic Alliance.

The Company has received results from the first three diamond drill holes at its Guintär project, details are presented in Table 1 and significant intersections are as follows:

(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: GUINTAR PRELIMINARY DRILL RESULTS

 
^GOLD EQUIVALENT CALCULATION ASSUMES USD $1790/OZ GOLD AND USD $22/OZ SILVER AND $4.3/lb COPPER
*NOT TRUE WIDTH
DOWN HOLE CUT-OFF 0.2 g/t gold only
MAXIMUM INTERNAL DILUTION -10 Meters

Drill hole GUI-DD-011 intersected gold mineralized basement rocks belonging to the early-Cretaceous Barroso Formation with low-grade gold (entire drill hole returned 0.2 grams per tonne gold over 400.56 meters) disseminated through the hornfels-altered sequence and higher grade intervals (including 9.8 grams per tonne gold over 1.6 meters) related to lithological contacts and more porous conglomeratic units.

Drill hole GUI-DD-012 intersected strongly altered porphyritic intrusive rocks at 93 meters downhole depth (see Figure 1). Alteration is characterized by biotite related to quartz-chalcopyrite-pyrrhotite mineralized stockwork veinlets and albite related to chalcopyrite-pyrrhotite mineralized sheeted veinlets. Gold, copper and silver are related to both stockwork and sheeted veinlet styles of mineralization. Not applying a cut off, the entire drill hole returned 320.7 meters at 1.1 grams per tonne gold equivalent from surface. This intersection is the first indication of significant porphyry-style, copper and gold mineralization at the Guintär project. Drill hole GUI-DD-013 was located beneath GUI-DD-012 (see Figure 1) and intersected the biotite-altered intrusive suite with associated mineralization at a down hole depth of 118 meters. The entire drill hole returned 588.3 meters at 0.7 grams per tonne gold equivalent. Deeper gold-only mineralization (44.0 meters at 1.1 grams per tonne gold from 351 meters) may be related to a more amphibole-rich intrusive suite.

"These are very exciting initial results from our Guintär project," said Tim Coughlin, Royal Road Minerals President and CEO. "They are the product of some very careful geological work which utilized our existing geochemical database to provide vectors into a potential source of the ten square kilometers of alteration and mineralization we observe at surface. Furthermore, coupled with our Margaritas gold project, located just four kilometers to the southeast of Guintär, it now appears as though we are defining a new and underexplored copper-gold district in the Middle Cauca region".

Figure 1: Location of drill holes, geological map and cross-section A-B, Guintar Project, Colombia

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4008/107578_figure%201.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.

Quality Assurance and Quality Control:

Sample preparation and analyses are conducted according to standard industry procedures. Drill core samples are crushed, split and pulverized prior to analysis of Gold by fire assay and Atomic Absorption and multi-elements by ICP-AES and ICP-MS after four acid digestion. Stream sediment samples are sieved to -200 mesh and analyzed for Gold by fire assay and ICP AES and multi-elements by ICP-AES and ICP-MS after aqua regia digestion. Analytical performance is monitored by means of certified reference materials (CRMs), coarse blanks, coarse and pulp duplicate samples. Surface samples have been prepared in ALS Chemex preparation lab in Colombia and analyses have been completed in ALS Chemex Lima.

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") 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, 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 the Company's 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 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 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]

^[1] Gold equivalent calculation assumes USD $1790/Oz gold, USD $22/Oz SILVER and USD $4.3/lb Copper

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