Royal Road Minerals Receives New 30 Year Mining Concession Contract in the Caldas and Risaralda Departments of Colombia
Toronto, Ontario--(Newsfile Corp. - September 26, 2019) - Royal Road Minerals Limited (TSXV: RYR) ("Royal Road" or the "Company"), a gold and copper focused mineral exploration and development company, is pleased to announce that, by way of its recently completed purchase of Northern Colombia Holdings Limited, an affiliate of AngloGold Ashanti Limited (see Press Release May 31, 2019), it has received the rights to a newly granted mining Concession Contract in the departments of Caldas and Risaralda, Colombia.
Royal Road was advised on the 25th of September that Colombia's National Mining Agency had officially registered mining Concession Contract FG2-08001X which covers epithermal and porphyry style gold occurrences in the municipalities of Filadelfia and Quinchía, located in the Company's "Northern Block" of titles and title applications (Figure 1).
The process of acquiring a mining Concession Contract requires amongst other things, the Company to present and fulfill a Social Management Plan and the National Mining Agency to complete a Concertation seeking the approval of local authorities, followed by a Public Hearing with local communities. The Public Hearing for Concession Contract FG2-08001X was conducted on August the 6th, 2019 and was attended by representatives of Royal Road. Mining Concession Contracts have an initial term of 30-years which is extendable for a further 30 years.
Figure 1
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Cautionary statement:
This news release may contain certain information that constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate" and other similar words, or statements that certain events or conditions "may" or "will" occur and include statements regarding the use of proceeds from the private placement transactions. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in financing transactions, exploration and development of mineral properties, the hiring and retention of directors and officers, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, permitting and licensing and other factors described above and in the Company's most recent annual information form under the heading "Risk Factors", which has been filed electronically by means of the Canadian Securities Administrators' website located at www.sedar.com. The Company disclaims any obligation to update or revise any forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
For further information please contact:
Dr. Tim Coughlin
President and Chief Executive Officer
USA-Canada toll free 1800 6389205
+44 (0)1534 887166
+44 (0)7797 742800
[email protected]
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