Romios-Copperhead Option Discovers Highly Prospective Intrusions on the Red Line Claims Project, Golden Triangle, B.C.

Romios-Copperhead Option Discovers Highly Prospective Intrusions on the Red Line Claims Project, Golden Triangle, B.C.

Romios Gold Resources Inc. (TSXV: RG) (OTCQB: RMIOF) (FSE: D4R) ("Romios") and Copperhead Resources Inc. ("Copperhead") are pleased to report that they have discovered three highly prospective intrusions on the Red Line claims in the mineral rich Golden Triangle area of NW British Columbia. These intrusions include 2 areas of K-feldspar porphyritic syenite similar to one of the key units found at the giant Galore Creek porphyry Cu-Au deposit owned by Teck and Newmont.

Romios' VP of Exploration, Mr. John Biczok, P. Geo, commented, "The 2023 exploration program on the Red Line claims has made a very important step forward by discovering what appears to be the same type of intrusive rocks that are associated with the alkalic porphyry Cu-Au-Ag deposits of this region, as well as large areas of the epidote and pyritic alteration typically found in the outer shells around such mineralization. We are looking forward to exploring these exciting targets during the next phase of the field work."

HIGHLIGHTS:

  • A previously undocumented K-feldspar porphyritic syenite pluton believed to be more than 300 m wide was discovered
  • Numerous K-feldspar syenite boulders were located on the Red Line 2 claim, derived from the upper part of a steep ridge of metasediments and lesser volcanics which are often pervasively altered to epidote. The association of strong epidote alteration with the syenite dykes may be indicative of a porphyry copper type system at depth here.

  • A second, previously unknown pluton was located on the Red Line 2 and 3 claims, in this case a >700 m long body of pervasively altered hornblende granodiorite.

  • The discovery of these 2 highly prospective plutons, and the numerous syenite dykes associated with widespread epidote alteration, has significantly improved the odds of locating a porphyry Cu-Au-Ag type occurrence on the Red Line claims.

BACKGROUND

Original Claims: The original Red Line claims were staked in 2020 to cover a portion of the so-called "Red Line" stratigraphic contact between lower Jurassic Hazelton Group rocks and upper Triassic Stuhini Group rocks. Many of the major ore deposits in the northern Golden Triangle of NW British Columbia occur within 2 km of this contact. In addition, the claims cover the northern projection of the same Eskay Rift strata that host the historic Eskay Creek mine 32 km to the south. This phenomenally high-grade gold and silver former-producer is now being explored anew by Skeena Resources.

During the 2022 field program, a number of porphyritic syenite boulders and other intrusive rocks were found in creeks draining the area south of the claims. This area was staked as the Red Line 2, 3 and 4 claims in 2022 and 2023. The syenite dyke swarm and granodiorite pluton discovered in July 2023 were found on these new claims.

Porphyritic Syenite Pluton: During the recent 2023 exploration program, a very gossanous, K-feldspar porphyritic syenite intrusion (field name), thought to be at least 300 m wide, was noted on open ground south of the Red Line claims. The syenite intrusion has numerous large patches of pyritic gossans throughout, potentially indicative of the pyrite shell around a porphyry Cu-Au system. After a brief examination the area was immediately staked and added to the Red Line property.

The probable southern contact of the intrusion is marked by a major gossan that occurs in a rugged area not examined on the ground as yet. The other margins of the intrusion have yet to be defined but may be partially concealed under a small glacier and glacial till outwash plains. Mineralization in alkalic porphyry deposits such as Galore Creek is often best developed in the margins of the intrusions and the adjacent host rocks.

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Photo 1: One of the many pyritic gossans throughout the newly discovered porphyritic syenite pluton.

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There is no public record of any significant exploration work in the immediate area and this important syenite porphyry is not shown on any government geological map. It is possible that much of the intrusion was covered by the glacier during the government geological mapping programs. The syenite closely resembles a member of the Galore Creek intrusive suite associated with porphyry copper prospects elsewhere in this region (e.g. Enduro Metals Burgundy Ridge occurrence, the Galore Creek deposit, etc.). The intrusion on the new Red Line claim is by far the largest and most gossanous that Romios' geologists are familiar with anywhere in the region outside of Galore Creek. A sample was collected and sent to the University of British Columbia geochronology centre to determine if it is indeed the same age as the Galore Creek suite.

Syenite Dyke Swarm and Associated Epidote Alteration: A 1 km long ridge on the Red Line 4 claim is notable for the prominent and relatively pervasive epidote alteration, potentially part of the propylitic alteration zone around the periphery of a porphyry centre. Numerous coarse-grained K-feldspar porphyritic boulders occur along the lower slopes of this steep ridge, presumably derived from a dyke swarm at higher elevations. Minor secondary copper mineralization was noted on fracture surfaces in some of the local sedimentary talus. The valley floors on either side of the ridge are occupied by small glaciers but the association of the epidote alteration, syenite dyke swarm, and local copper mineralization warrants a detailed examination of the lower elevations for further indications of a porphyry system at depth beneath this ridge. A sample of the syenite has also been sent for age-dating at the University of British Columbia.

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Photo 2: Secondary copper staining on volcaniclastic conglomerate boulders, Red Line 2 claim.

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Hornblende Granodiorite Pluton: A previously unknown pluton of hornblende granodiorite (field name) was discovered on the Red Line 2 and 3 claims during the July program. The pluton has been mapped out for over 700 m in length so far and is at least 150 m wide. It is notable for the pervasive green alteration and the disseminated pyrite found throughout most of the unit. Lithogeochemical analyses and thin section studies are planned to determine if the alteration is part of a porphyry-type system and if this pluton is part of the Galore Creek suite.

Property Size And Ownership: Following the integration of the Red Line 5 claim into the Project, the property size of the Project has been expanded to a total of 10 claims, covering a combined area of 3,989 hectares. Pursuant to an Option Agreement signed on April 6th, 2022, Romios has granted Copperhead Resources the exclusive right and option to acquire a 75% ownership interest in the Project over a 3 year term by financing annual exploration programs beginning in 2022 and making certain cash payments and stock grants to Romios (see Press Release April 6, 2022).

For more information, please click here for Romios' website.

Qualified Person

The technical information in this news release has been reviewed and approved by John Biczok, P. Geo., VP-Exploration for Romios Gold and a Qualified Person as defined by National Instrument 43-101. In addition to his extensive experience with several major mining companies exploring for a wide variety of ore deposit types across Canada and India, Mr. Biczok spent 12 years conducting exploration and research at the Musselwhite gold mine in NW Ontario.

About Romios Gold Resources Inc.

Romios Gold Resources Inc. is a progressive Canadian mineral exploration company engaged in precious- and base-metal exploration, focused primarily on gold, copper and silver. It has a 100% interest in the Lundmark-Akow Lake Au-Cu property plus 4 additional claim blocks in northwestern Ontario and extensive claim holdings covering several significant porphyry copper-gold prospects in the "Golden Triangle" of British Columbia. Additional interests include the Kinkaid claims in Nevada covering numerous Au-Ag-Cu workings and two former producers: the Scossa mine property (Nevada) which is a former high-grade gold producer and the La Corne molybdenum mine property (Quebec). The Company retains an ongoing interest in several properties including a 20% carried interest in five of Honey Badger Mining's claim blocks in the Thunder Bay silver district of northwestern Ontario; a 2% NSR on McEwen Mining's Hislop gold property in Ontario; a 2% NSR on Enduro Metals' Newmont Lake Au-Cu-Ag property in BC, and the Company has signed a definitive agreement with Copperhead Resources Inc. ("Copperhead") whereby Copperhead can acquire a 75% ownership interest in Romios' Red Line Property in BC.

For more information, visit www.romios.com.

As part of our ongoing effort to keep investors, interested parties and stakeholders updated, we have several communication portals. If you have any questions online (Twitter, Facebook, LinkedIn) please feel free to send direct messages.

To book a one-on-one 30-minute Zoom video call, please click here.

For further information, please contact:

Stephen Burega, President and CEO - 647-515-3734 or sburega@romios.com

John Biczok, P. Geo., VP of Exploration - 613-410-7877 or jbiczok@romios.com

This News Release contains forward-looking statements which are typically preceded by, followed by or include the words "believes", "expects", "anticipates", "estimates", "intends", "plans" or similar expressions. Forward-looking statements are not guarantees of future performance as they involve risks, uncertainties and assumptions. We do not intend and do not assume any obligation to update these forward-looking statements and shareholders are cautioned not to put undue reliance on such statements. TSX Venture Exchange or its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) do not accept responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/180353

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Doré Copper Mining Corp. (" Doré Copper ") (TSXV: DCMC; OTCQB: DRCMF; FRA: DCM) today announced that it has filed and is in the process of mailing the management information circular (the " Circular ") and related materials for the special meeting (the " Meeting ") of shareholders of Doré Copper (" Doré Copper Shareholders ") to be held December 16, 2024. At the Meeting, Doré Copper Shareholders will be asked to consider and vote on a special resolution (the " Arrangement Resolution ") approving a statutory plan of arrangement (the " Plan of Arrangement ") pursuant to Section 192 of the Canada Business Corporations Act (the " Arrangement "), subject to the terms and conditions of an arrangement agreement dated October 14, 2024 (the " Arrangement Agreement ") entered into among Doré Copper, Cygnus Metals Limited (" Cygnus ") and 1505901 B.C. Ltd., a wholly owned subsidiary of Cygnus, all as more particularly described in the Circular.

The board of directors of Doré Copper (the " Doré Copper Board ") and the special committee of independent directors established by the Doré Copper Board (the " Special Committee ") have unanimously determined that the Arrangement is in the best interests of Doré Copper and that the Arrangement is fair to the Doré Copper Shareholders. The Special Committee and the Doré Copper Board reviewed and considered a significant amount of information and considered a number of factors relating to the Arrangement, with the benefit of advice from Doré Copper's management, and the financial and legal advisors of the Special Committee and the Doré Copper Board. The Special Committee unanimously recommended that the Doré Copper Board recommend to Doré Copper Shareholders that they vote FOR the Arrangement Resolution. The Doré Copper   Board unanimously recommends that Doré Copper   Shareholders vote   FOR   the Arrangement Resolution. See pages 33 to 36 of the Circular for a detailed description of the " Reasons for the Arrangement ".

In accordance with the interim order granted by the Ontario Superior Court of Justice (Commercial List) on November 12, 2024, providing for the calling and holding of the Meeting and other procedural matters relating to the Arrangement, the Arrangement can only proceed if, among other conditions, it receives the approval of not less than two-thirds (66⅔%) of the votes cast on the Arrangement Resolution by Doré Copper Shareholders in person or by proxy at the Meeting and not less than a majority (50% + 1) of the votes cast on the Arrangement Resolution by Doré Copper Shareholders in person or by proxy at the Meeting excluding the votes cast by certain interested or related parties or joint actors of Doré Copper in accordance with the minority approval requirements of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions .

Under the Arrangement Agreement, the parties have agreed to effect the Arrangement, pursuant to which Cygnus will indirectly acquire all of the issued and outstanding common shares in the capital of Doré Copper (" Doré Copper Shares "), and Doré Copper Shareholders will be entitled to receive, for each Doré Copper Share held immediately prior to the effective time of the Arrangement (the " Effective Time "), 1.8297 fully paid ordinary shares (the " Consideration ") in the capital of Cygnus (each one whole share, a " Cygnus Share ").

As a result of, and immediately following the completion of, the Arrangement, Doré Copper will be an indirect wholly-owned subsidiary of Cygnus and the former Doré Copper Shareholders will be entitled to receive the Consideration for each Doré Copper Share previously held by them immediately prior to the Effective Time (subject to rounding, as provided for in the Plan of Arrangement).

Cygnus has applied for its Cygnus Shares to be listed on the TSX Venture Exchange (the " TSXV "). It is a condition of closing that Cygnus shall have received conditional listing approval from the TSXV to list the Cygnus Shares on the TSXV. Listing of the Cygnus Shares on the TSXV will be subject to Cygnus receiving approval from, and fulfilling all of the minimum listing requirements of, the TSXV.

Meeting and Circular

The Meeting of the Doré Copper Shareholders will be held at the offices of Bennett Jones LLP located at One First Canadian Place, 100 King Street West, Suite 3400, Toronto, Ontario, M5X 1A4 on December 16, 2024 at 12:00 p.m. (Toronto time). Doré Copper Shareholders of record as of the close of business on November 13, 2024 are entitled to receive notice of and to vote at the Meeting. Doré Copper Shareholders are urged to vote before the proxy deadline of 12:00 p.m. (Toronto time) on December 12, 2024.

The Circular provides important information on the Arrangement and related matters, including the background of the Arrangement, the rationale for the recommendations made by the Special Committee and the Doré Copper Board, and voting procedures. Doré Copper Shareholders are urged to read the Circular and its appendices carefully and in their entirety. The Circular is being mailed to Doré Copper Shareholders in compliance with applicable Canadian securities laws. The Circular is available under Doré Copper's profile on SEDAR+ at www.sedarplus.ca and on Doré Copper's website at www.dorecopper.com .

Impact of Canada Post Labour Strike

Due to the ongoing Canada Post labour strike, it is possible that Doré Copper Shareholders may experience a delay in receiving the Circular and related materials in respect of the Meeting. Doré Copper Shareholders are encouraged to access the Circular and related materials electronically as noted above. Registered holders of Doré Copper Shares experiencing a delay in receiving the Circular and related materials may contact Computershare Investor Services Inc. at 1-800-564-6253 to obtain their individual control numbers in order to vote their Doré Copper Shares. Registered holders of Doré Copper Shares are encouraged to vote their Doré Copper Shares via the internet at www.investorvote.com or via telephone at 1-866-732-VOTE (8683). Registered holders of Doré Copper Shares are also encouraged to complete and return letters of transmittal by hand or by courier to ensure the appropriate documents are received in a timely manner. Beneficial holders of Doré Copper Shares experiencing a delay in receiving the Circular and related materials should contact their broker or other intermediary for assistance in obtaining their individual control numbers in order to vote their Doré Copper Shares. Beneficial holders of Doré Copper Shares are encouraged to vote their Doré Copper Shares via the internet at www.proxyvote.com or via telephone at 1-800-474-7493 (English) or 1-800-474-7501 (French). It is recommended that any physical forms of proxy or voting instruction forms be delivered via courier to ensure that they are received in a timely manner.

Registered holders of Doré Copper Shares who wish to exercise their dissent rights in connection with the Arrangement are also cautioned to deliver their written objection to Doré Copper by mail using a method other than Canada Post or by facsimile transmission in accordance with the instructions set forth in the Circular to ensure that they are received in a timely manner.

Other Matters

Agreement with SOQUEM

Further to its news release dated July 3, 2024, on July 2, 2024, Doré Copper issued 1,190,476 Doré Copper Shares to SOQUEM at a deemed price of $0.105 per Doré Copper Share in connection with its acquisition of a 56.41% interest in a group of contiguous claims located immediately north and east of its flagship high-grade Corner Bay copper project in the Chibougamau mining camp.

About Doré Copper Mining Corp.

Doré Copper Mining Corp. aims to be the next copper producer in Québec with an initial production target of +50 million pounds of copper equivalent annually by implementing a hub-and-spoke operation model with multiple high-grade copper-gold assets feeding its centralized Copper Rand mill 1 . Doré Copper has delivered its PEA in May 2022 and is proceeding with a feasibility study. Doré Copper has consolidated a large land package in the prolific Lac Doré/Chibougamau and Joe Mann mining camps that has historically produced 1.6 billion pounds of copper and 4.4 million ounces of gold. 2 The land package includes 13 former producing mines, deposits and resource target areas within a 60-kilometer radius of Doré Copper's Copper Rand Mill.

About Cygnus Metals

Cygnus Metals Limited (ASX: CY5) is an emerging exploration company focused on advancing the Pontax Lithium Project (earning up to 70%), the Auclair Lithium Project and the Sakami Lithium Project in the world class James Bay lithium district in Québec, Canada. In addition, Cygnus has REE and base metal projects at Bencubbin and Snake Rock in Western Australia. The Cygnus Board of Directors and Technical Management team have a proven track record of substantial exploration success and creating wealth for shareholders and all stakeholders in recent years. Cygnus' tenements range from early-stage exploration areas through to advanced drill-ready targets.

For further information about Doré Copper, please contact:

Ernest Mast Laurie Gaborit
President and Chief Executive Officer Vice President, Investor Relations
Phone: (416) 792-2229 Phone: (416) 219-2049
Email: ernest.mast@dorecopper.com Email: laurie.gaborit@dorecopper.com

Visit: www.dorecopper.com
Facebook: Doré Copper Mining
LinkedIn: Doré Copper Mining Corp.
Twitter: @DoreCopper
Instagram: @DoreCopperMining

Cautionary Note Regarding Forward-Looking Statements
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this news release, including, without limitation, statements with respect to the proposed Arrangement and the terms thereof, the completion of the Arrangement, including receipt of all necessary court, shareholder and regulatory approvals and timing thereof, the listing of the Cygnus Shares on the TSXV, and the plans, operations and prospects of Doré Copper and its properties are forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the ability to obtain approvals in respect of the Arrangement and to consummate the Arrangement, the ability to obtain approvals for the listing of the Cygnus Shares on the TSXV, integration risks, actual results of current and future exploration activities, benefit of certain technology usage, the ability of prior successes and track record to determine future results, changes in project parameters and/or economic assessments, availability of capital and financing on acceptable terms, general economic, market or business conditions, future prices of metals, uninsured risks, risks relating to estimated costs, regulatory changes, delays or inability to receive required regulatory approvals, health emergencies, pandemics and other exploration or other risks detailed herein and from time to time in the filings made by Doré Copper with securities regulators. Although Doré Copper has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Doré Copper disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Neither 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.

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(TheNewswire)

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