Romios Reports Potential for Porphyry System at Depth on the Kinkaid Gold-Silver-Copper Property in Nevada, USA

Romios Reports Potential for Porphyry System at Depth on the Kinkaid Gold-Silver-Copper Property in Nevada, USA

Romios Gold Resources Inc. (TSXV: RG) (OTCQB: RMIOF) (FSE: D4R) ("Romios Gold" or the "Company") is pleased to report that its recently completed field program on the Kinkaid property in Nevada has improved our understanding of the large-scale mineral potential of the property and reinforced previous suggestions by the Company's geologists that there may be a porphyry system at depth beneath the dozens of old high-grade gold-silver-copper prospects on the claims.

HIGHLIGHTS

  • A prominent alteration zone 1 km wide surrounding a series of high-grade Au-Ag-Cu vein prospects on the southern Kinkaid claims is now thought to be consistent with a possible porphyry-type intrusion at depth.
  • The discovery of thick packages of skarnified metasediments and previously unknown granitic intrusions on the northern claims near several small-scale former gold-tungsten producers has greatly increased the size potential of the skarn system at Kinkaid.

"One of the most striking features of the Kinkaid property is the abundance and variety of high-grade vein occurrences clustered in the southern part of the claim block," stated John Biczok, VP, Exploration. "These occurrences typically trend NNE, parallel to the dominant strike of the Basin and Range faulting, and they are frequently situated in large areas discoloured brown by iron oxides and sericitic alteration of the local volcanic-sedimentary package."

"One cluster of these mineralized and altered areas is at least 1 km long and 400 m wide and hosts occurrences that have returned previously reported individual assays up to 36.3 g/t Gold, 2.16% Copper, and 212 g/t Silver with elevated barite, bismuth, antimony and mercury values (See Romios Press Releases March 10, June 14 & June 29, 2022). The high copper content and strong sericite alteration of most of the showings suggests there has been a magmatic input to the mineralizing fluids, potentially a porphyry Cu-Au system at depth," he continued.

This discoloured target area is flanked by other high grade vein deposits including the 500 m long series of the Montreal Ag-Au mine workings, and numerous high-grade copper-gold-silver vein type deposits of unknown extent that do not appear to have been fully evaluated in the past.

"The variation in these veins from copper-gold rich prospects, to silver +/- gold veins with high lead and zinc, to those with very high gold values all point to a variation in their depth of emplacement above a presumed pluton," stated Stephen Burega, CEO and President. "And this provides us with guidance on the potential of these veins for better mineralization at depth as well as the distance to the top of the potentially mineralized pluton as we plan for our next phase of exploration at Kinkaid."

The northern portion of the claims hosts at least 4 historic skarn occurrences (see Photo 1) spread across a 1.6 km x 600 m area, including two that were mined underground, reportedly for gold and/or tungsten. Romios' recent mapping indicates that there are potentially two major formations with much greater size potential than the historic mining sites. Mineralization at those sites occurs in garnet skarn horizons that are several metres wide in outcrop but, of potentially greater significance in at least one case, a nearby 40 metre wide partially skarnified package of limestone and calcareous siltstones exhibits local retrograde alteration and minor visible copper mineralization.

This thick package of prospective strata has been traced for over 400 metres so far and two previously unknown granitic plutons have also been discovered nearby. For the first time, gossanous mineralization and garnet skarnification was also located along the edge of a major, 200 metre wide, limestone formation between the historic workings and a major batholith that crops out 300 metres to the north. These thick, skarnified limestone packages and the newly discovered granitic plutons that may have acted as the heat and Cu-Au-W source for the skarn deposits provide excellent, large-scale prospective targets with potential for much larger mineralized zones than were mined here in the past.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5376/170267_0fd156010494daba_002.jpg

Photo 1: Copper-rich dump material at one of 4 skarn occurrences, northern Kinkaid claims (assays pending).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5376/170267_0fd156010494daba_002full.jpg

Assays are now pending from numerous samples collected from the skarns, mineralized veins and alteration zones during the May 2023 program. Along with ongoing petrographic and hyperspectral studies, these results will be used to further refine the geological model of the Kinkaid mineralization and help guide the next phase of the work. At this point, various geophysical, geochemical and geological options are under consideration for detecting and outlining any possible porphyry/plutonic systems beneath the veins and skarn occurrences on the Kinkaid claims

Background

The Kinkaid property consists of 109 claims, covering approximately 9.2 sq km, 18 km east of the town of Hawthorne where the prolific Walker Lane trend overlaps the southern edge of the mineral-rich Basin and Range geological province.

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., Vice President, 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, CEO & President - 647-515-3734 or sburega@romios.com

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/170267

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Romios Gold Resources Inc. (TSXV: RG) (OTCQB: RMIOF) (FSE: D4R) ("Romios Gold" or the "Company") is pleased to announce that it is proceeding with a non-brokered private placement of up to 15 million shares (the "Shares") priced at $0.01 per Share for up to $150,000 (the "Offering").

Funds will be used for exploration and working capital. All securities issued under the Offering are subject to a four month and one day hold period. The transaction is subject to TSX Venture Exchange approval. No funds from the sale of the Shares will be used for payments to non-arm's length parties or for investor relations activities. The funds from the sale of the Shares will be allocated as to $50,000 to maintain the Company's property in Nevada and the balance for general working capital.

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This new work used proprietary Deep Learning Technology to differentiate the types of sericite associated with the known mineralized structures and then outlined the same signature on several major, previously unrecognized, linear alteration zones potentially associated with additional mineralized vein systems.

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The in-person event will be held at the Metro Toronto Convention Centre (MTCC) from Sunday, March 3rd to Wednesday, March 6th, 2024.

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Each FT Unit is priced at $0.03 and consists of one (1) common share and one-half (0.5) share purchase warrant (a "FT Warrant"). Each full FT Warrant entitles the holder to purchase one (1) common share (a "FT Warrant Share") at a price of $0.05 per FT Warrant Share until October 27, 2025.

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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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