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.

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