Overview
Inflationary pressure has affected most markets, and gold was not immune from its effects. Despite gold prices stabilizing from a 19-month high in March 2022, analysts expect gold's global supply and demand to remain robust through 2026. Richard Kiyosaki, famed author of “Rich Dad, Poor Dad,” projects gold to reach upwards of US$5,000 over the next five years.
On the supply side, mining jurisdictions play a vital role in the success or failure of a mining project. A mining-friendly jurisdiction with a government and community that supports the industry creates a stable environment for projects to reach their full potential. Conversely, unfriendly jurisdictions can create endless hurdles and challenges, leaving impressive projects unable to reach full development. Nevada has once again earned a top spot on The Fraser Institute’s list of the top mining jurisdictions in the world. Nevada ranked in the top 10 on both of Fraser’s important lists: Investment Attractiveness and Policy Perception.
Romios Gold Resources (TSXV:RG, OTCQB:RMIOF, Frankfurt:D4R) is a North American exploration mining company focused on gold, silver and copper assets in the United States and Canada. The company recently shifted priority towards exploration programs on its two Nevada projects.
The company is led by an experienced team focused on unraveling the geological setting of the mineralization on each project through careful geological mapping, and the application of modern geophysical and geochemical techniques in order to increase the understanding and potential of each asset. Many of the Nevada targets were poorly understood due to their atypical geology, underexplored in terms of modern exploration techniques, and were mined for different commodities other than copper-gold-silver. All of these factors suggest the properties have not been tested for their true potential, and significant blue-sky opportunities for increased value are present.

The company fully owns two promising assets in Nevada: the Scossa Project (Gold) and the Kinkaid Project (Gold-Copper-Silver). Romios has recently re-focused its efforts on these core assets while still continuing exploration in British Columbia and Ontario, and opening discussions with potential investment partners for these large-scale exploration assets.
In Canada, Romios Gold Resources’ land package includes 10 claim blocks covering over 400 km2 adjacent to the giant Galore Creek copper-gold-silver porphyry project co-owned by Trek and Newmont in the famed Golden Triangle of British Columbia. Two priority targets included here are the TREK South and JW copper-gold porphyry prospects.
An experienced management team leads the company with a scientific approach to mineral exploration and a dedication to open engagement with First Nations and Indigenous communities. Stephen Burega, CEO and President, has significant experience managing natural resources projects, negotiating joint ventures and fundraising. John Biczok, Vice-President Exploration, is a professional geologist with over 40 years in the mineral resources industry. A longstanding and experienced board of directors brings additional experience in geology, property acquisition, business administration and international law.
Company Highlights
- In 2022, Romios Gold Resources (Romios) undertook an audit of its significant portfolio of North American exploration assets and concluded that it was in the company’s best interests to focus its efforts on two promising, 100-percent-owned, assets in Nevada including:
- The Kinkaid Project, which includes 109 claims with more than 13 historic mine workings and prospects as well as significant blue-sky exploration potential for copper/gold/silver.
- The Scossa Project, which covers a high-grade gold mine that was in production from 1930 to 1941. The company’s past drilling intersected Bonanza Grades including 3.35 m @ 180.2 g/t Au, 4.02 g/t Ag; 1.98 m @ 268 g/t Au, 21.8 g/t Ag; and 1.51 m @ 62.49 g/t Au, 73.4 g/t Ag.
- Romios also has 100 percent ownership of extensive claim holdings covering several significant copper-gold porphyry prospects in the “Golden Triangle” of British Columbia, and additional exploration assets surrounding Newmont’s Musslewhite mine in Ontario.
- Romios is led by a strong management team composed of experts in exploration, corporate management and joint ventures.
Key Projects
Kinkaid Gold-Copper-Silver Project

The Kinkaid Project is located in Mineral County within the Walker Lane Trend and is 18 kilometers east of Hawthorne, Nevada. The claim block is made up of 109 claims covering 2,252 acres, with numerous historic mine workings and prospects across the property, including:
- Multiple epithermal gold-silver-copper+/-barite vein deposits on the southern and central claims, commonly high-grade.
- At least four skarn prospects on the northern claims, apparently mined for tungsten, gold, silver and molybdenum in the past.
- Untested potential for a disseminated replacement style orebody on thrust faults beneath the two major gold-silver vein deposits, similar to the nearby Isabella-Pearl mine.
Multiple samples of quartz vein material collected from the Kinkaid Project in 2022 returned elevated gold values from 0.48 g/t gold to 33.7 g/t gold; silver values from 1 g/t silver to 1,725 g/t silver (55 oz/t silver); and copper values from 0.55 percent copper to 7.39 percent copper.
Romios Gold Resources is currently undertaking a detailed geological mapping and sampling program across the Kinkaid property, as well as a drone magnetic survey of the northern claims, with diamond drilling of several showings anticipated in 2023.
Romios Gold President and CEO Stephen Burega
shared, “We are very excited by these high-grade gold, copper and silver assays and the local abundance of bismuth, antimony and mercury in the numerous gold bearing veins recently identified on the southern claims of the Kinkaid property.”

Project Highlights:
- Unrealized Potential: Many of the claims throughout Kinkaid have unrealized potential due to low precious metal prices when they were previously explored. Additionally, previous owners targeted different metals during exploration programs conducted decades ago.
- Variety of Significant Targets: The Kinkaid Project includes numerous individual targets that warrant additional exploration campaigns, and the company continues to identify new and previously unrecorded former workings across the entirety of the project area.
Scossa Historic Gold Mine Project

The Scossa Gold Project is located in Pershing County, Nevada, at the intersection of the prolific Sleeper & Rye Patch Trends, and covers a former-producing, high-grade gold mine that was in production from 1930 to 1941. The project is eight miles southeast of the Hycroft Gold Mine, which has an estimated gold resource of 9.65 million ounces measured and indicated.
Scossa was an underground mine during the 1930s before it was shut down during WWII. It was explored to a limited degree historically but has yet to be explored using modern, leading-edge technologies or ore deposit models that are critical to successful exploration of deposits like this. Past production was from five epithermal veins in faults up to 6 ft. wide with an average grade of over 1 oz/t gold. Some ore was so rich it was stored in the bank vault in Lovelock. Historic production was limited to the upper 400 ft. while the geology of similar deposits nearby suggests there should be 1,000 ft. of potential ore left beneath old workings. Some additional veins that were never tested by drilling are now known.
Romios Gold Resources completed a series of drill campaigns in the early 2000s with some spectacular results, including diamond drill holes which returned assays up to:
- 3.35 m @ 180.2 g/t gold, 4.02 g/t silver
- 1.98 m @ 268 g/t gold, 21.8 g/t silver
- 1.51 m @ 62.49 g/t gold, 73.4 g/t silver
Follow-up mapping and sampling in 2021 returned assays ranging from trace to
23 g/t gold and 84 g/t silver. The assay results and observed vein textures suggest there is potential for at least 1,500 feet vertically of mineralization above the base of Scossa hill, where the paleo-boiling zone is exposed, in addition to the unknown vertical extent of the boiling zone at depth.

According to VP for Exploration John Biczok, “Epithermal gold-silver veins like those at the Scossa property typically form when hydrothermal ore fluids under pressure begin to boil as they rise to an elevation shallow enough to overcome the hydrostatic pressure.” He further explained, “Changes in the fluid due to boiling cause the gold and silver to precipitate and it can then be carried upwards in finger-like shoots at various intervals along the veins. These shoots can be very high-grade and it is important to determine where the mineralized shoots are versus the low-grade background vein material.”

Project Highlights:
- Unique Gold Belt Intersection: The Scossa Project is located at the intersection of two major gold belts: the Sleeper Trend and the Rye-Patch Trend, creating a unique and underexplored opportunity.
- Past mine production: From 1930 to 1941, average grade was over 1 oz/t gold, was mined from five epithermal veins down to a maximum depth of 400 ft, leaving significant potential down to 1,500 ft. level for continued mineralization.
- Future Exploration Campaigns Planned: Romios has planned work scheduled throughout 2023, including determining boiling zone levels in relation to the central veins, exploratory short-hole drilling to confirm gold-silver zones, and further isolating the best intercepts for further exploration.
Canadian Exploration Projects
Romios Gold Resources’ Nevada projects are its flagship assets, but the company is also simultaneously carrying out exploration campaigns on its Canadian projects. These projects are located in British Columbia and Ontario.

Project Highlights:
- British Columbia Projects: The company’s primary prospects are the TREK and JW copper-gold porphyry targets. In total, Romios Gold has 10 claim blocks covering over 400 square kilometers in the “Golden Triangle” of British Columbia. Following the 2021 discovery in TREK South, the company completed an IP/MT program in 2022 to better delineate this unexplored porphyry system with tremendous blue sky potential.
- Northwest Ontario Projects: Five projects throughout the Archean North Caribou Lake greenstone belt have produced promising early exploration results and are immediately along strike from Newmont’s giant Musselwhite gold mine in Ontario, which has produced over 5 million ounces of gold. These projects capitalize on the rare opportunity presented by an entire underexplored greenstone belt containing only one active mine.

Management Team
Stephen Burega - President & CEO
Stephen Burega has been in management and operations in the mining and natural resources sectors for the past 13 years and also has extensive experience in corporate development and fundraising, joint venture due diligence and negotiations, and management of public markets. His deep emerging markets background, along with a strong understanding of stakeholder management, social development, and structured community engagement and programming positions him well to lead Romios’ First Nations community engagements. His eight years of corporate communications and media relations, coupled with extensive issues management experience, are additional assets to be leveraged as Romios builds towards the future.
John Biczok - VP Exploration
John Biczok, P. Geo., is a professional exploration geologist with over 40 years of experience in a wide range of ore deposit types, including many that are relevant to Romios' various mineral properties such as copper-gold skarns, massive sulphides, shear-hosted gold, iron formation-hosted gold and various exhalative type deposits (lead-zinc, barite). Biczok began work with Romios in August 2016 as a consultant in charge of the Lundmark-Akow Lake drill program in northwestern Ontario. His interpretation of the geology in those drill holes led to a new genetic model for the copper-gold mineralization and the subsequent discoveries of the first base metal massive sulphide and high-grade gold zones in the area. Before joining Romios, he worked at Goldcorp's (now Newmont) Musselwhite gold mine (18 km south of the Lundmark-Akow Lake property) for 12 years, most recently as senior exploration geologist and senior research geologist. Prior to this, he led Phelps Dodge Exploration's copper, gold and lead-zinc exploration efforts in India from 1999 to 2002, and worked for a number of mining companies in western Canada, including Mattagami Lake Exploration, Noranda Exploration and Manitoba Mineral Resources managing exploration programs for base metals, gold and nickel. Among his achievements with these companies was the discovery of a new ore zone at Musselwhite, initiation of the work that led to the discovery of the past-producing Brewery Creek gold deposit in Yukon, and leading the team that discovered the Monument Bay gold deposit in northern Manitoba.
Frank van de Water, CPA, CA - COO, CFO, Secretary & Director
Frank van de Water holds a B.Comm. from Concordia University, Montreal, and is a member of the Canadian Institute of Chartered Professional Accountants. He has had a 40-year career in financial roles with a variety of companies including a multinational mining, metal processing and metal trading company, and extensive experience with mining companies operating in Canada, Africa and Europe, all listed on the TSX, TSXV or LSE. He has held the positions of controller, VP finance, CFO and president at various times, and was the finance director of a large metal dealer on the London Metal Exchange. Van de Water is also a director at five other public companies.