Base Metals

Romios Gold Resources Inc. (TSXV: RG) (OTCQB: RMIOF) (FSE: D4R) ("Romios Gold" or the "Company") is pleased to report that field work in 2022 has expanded the known extent of mineralization at the TOE Zone on Romios' Trek Property in the Golden Triangle of NW British Columbia and continues to support an Eskay Creek or Kuroko VMS model for this untested high-grade Cu-Au-Ag-Sb target.

The geology and style of the high-grade mineralization at the TOE Zone are both very similar to the world class Eskay Creek Au-Ag deposit. The known extent of this mineralization was increased by 75% in 2022 and it is believed that there is room for substantial expansion as many of the showings trend off under overburden.

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Photo 1: Typical mineralized sulphide horizon within basalts; >1 m wide gossan with a high-grade core

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Romios' VP of Exploration Mr. John Biczok, P. Geo, commented, "The TOE Zone showings are high in metals like copper, zinc, lead, gold and silver which are found in typical VMS (volcanogenic massive sulphide) deposits while both the geological setting and the enrichment in an "epithermal suite" of metals such as antimony, arsenic +/- mercury are characteristic of the Kuroko or Eskay Creek VMS sub-types. Although it is still early days in our understanding of this exciting prospect, we are confident that the TOE Zone will develop into a high-potential drill target."

Highlights:

  • Three (3) styles of related mineralization occur:

1) A series of narrow, high-grade Cu-Au-Ag-Pb-Zn-Sb sulphide horizons up to 1 m wide are found within the andesite / basalt units. The cores of these zones have returned assays from trace to highs of 2.2 g/t Au, 809 g/t Ag, 3.9% Cu, 2.7% Zn, 0.9% Pb, 539 ppm As, and 0.28% Sb (antimony) over widths of 15 to 25 cm (see Photo 1 and Map 1).
2) Thick units of gossanous felsic volcanics occur in a belt NW of the mafic volcanics and the widest of these returned assays of 1.5 g/t Au, 65 g/t Ag, 480 ppm As and 0.13% Cu over 4.0 m (Photo 2).A 1.0 m wide sample collected from the centre of this aforementioned zone in 2021 assayed 2.3 g/t Au, 82 g/t Ag, 556 ppm As and 1.24% Cu with no visible copper mineralization. This zone is highly weathered at surface and the grades may well be higher in fresher rock at depth.
3) A highly mineralized quartz vein near the felsic volcanics assayed 3.0 g/t Au, 373 g/t Ag, 2.3% Cu, 0.25% Pb, 0.23% Sb, 0.96% Zn across 0.25 m. Scattered veins of coarse-grained massive pyrite are also mineralized; one 0.1 m vein assayed 0.85% Cu, 0.27 g/t Au and 17 g/t Ag.

  • Mineralization has now been located in outcrops scattered over a 175 m x 65 m NE-trending area (see Map 1). The full extent of these outcrops is obscured to the NW and SE by glacial till cover.
  • A >30 m wide unit of gossanous, pyritic argillite lies within the volcanic sequence (Photo 3) and is somewhat anomalous in copper (311-535 ppm), gold (23-49 ppb), zinc (407 to 1160 ppm), silver (3 ppm), and manganese (2910 to 5520 ppm), suggesting that the mineralizing event continued to some degree throughout both volcanism and sedimentation.
  • The presence of Cu-Au-Ag-Sb-Zn-Pb mineralization in a bimodal sequence of felsic and mafic volcanics interbedded with pyritic argillite is similar to the geology of the Eskay Creek deposit 66 km to the SE. The age of the rocks hosting the Toe Zone has not been determined yet but rocks similar in age to Eskay Creek occur 11 km to the NE on Romios' North East claim block.
  • The full extent of the Toe Zone mineralization is unclear due to glacial till cover. A program of geophysical surveys (IP) and further detailed mapping will be designed in order to define the most favourable drill sites.

Stephen Burega, President and CEO, stated, "We are very encouraged by the latest results from the TOE Zone, especially given its close proximity (600 m) to our Trek South porphyry Cu-Au-Ag target, which is Romios' current primary focus in the Golden Triangle (see Romios press release September 29, 2022). This is one of several historic high-grade showings on Trek that we expect to include in the anticipated future drill program at Trek South."

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Map 1: TOE Zone general geology and 2022 assays

To view an enhanced version of Map 1, please visit:
https://images.newsfilecorp.com/files/5376/140410_c2a9bc10f471d836_004full.jpg.

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Photo 2: View of the widest mineralized felsic unit exposed at the TOE Zone

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Photo 3: View looking SW across the main escarpment at the TOE Zone. Central pyritic argillite flanked by gossanous, locally mineralized felsic units. High grade zones occur on the hill top to the left of the photo and behind the observer.

To view an enhanced version of Photo 3, please visit:
https://images.newsfilecorp.com/files/5376/140410_c2a9bc10f471d836_007full.jpg.

BACKGROUND INFORMATION ON THE TOE ZONE

The TOE Zone is one of at least 10 underexplored historic mineral showings on the southern Trek claims and was discovered in 1988 by Lorica Resources. A 2.0 m chip sample collected at that time assayed 1.23 g/t Au, 267 g/t Ag, 5.2% Cu, 1.06% Zn and 0.42% Pb. Geological mapping, soil sampling, a VLF survey and further rock sampling were carried out by Lorica in 1990, returning individual assay highs up to 645 g/t Ag, 2.6 g/t Au, 4.8% Cu, 2.25% Pb, and 5.0% Zn in grab samples. Mineralization was described as consisting of massive to semi-massive, variably banded/layered pyrite, chalcopyrite, sphalerite, galena and barite, hosted in andesitic volcanics with local intense quartz-sericite-pyrite altered horizons (now thought to be mineralized felsic volcanics). This prospect was interpreted as a Kuroko-type VMS occurrence when discovered in 1988. Romios believes that a Kuroko model, or the somewhat similar Eskay Creek model, are both still valid.

Little work has been done on this prospect since the early work by Lorica. A limited sampling program by Romios in 2006 returned assays up to 4.45 g/t Au, 1,965 g/t Ag, 3.78% Cu, 2.27% Pb, 2.9% Zn and >1% Sb. No further work was carried out here until brief field exams by Romios in 2021 and 2022.

The TOE Zone is located approximately 600 m west of the exposed edge of the Trek South porphyry Cu-Au-Ag target which was explored with a major geophysical and mapping program by Romios in 2022 (results are pending). It is 1.5 km south of the partially cleared road route from Highway 37 to the giant Galore Creek alkalic porphyry Cu-Au-Ag deposit(s) site and 15 km SW of the proposed Galore Creek mill site. The Galore Creek project is owned by a Teck-Newmont JV (GCMC) and currently in the final stages of a pre-feasibility study.

QA/QC

The samples discussed in this document were grab and chip samples considered representative of the outcrops and veins being sampled. They were submitted to the ISO/IEC 17025 accredited ALS Canada Ltd. laboratories in Terrace and Vancouver, BC for assay and multi-element analyses. As a matter of procedure, a rigorous quality assurance and quality control program was implemented to ensure reliable assay results by inserting alternating blanks and commercial assay standards at every 10th position in the sample series.

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 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.

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