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TSXV-RG NASDAQ OTC – RMIOF Frankfurt: D4R
PRESS RELEASE FOR IMMEDIATE RELEASE
ROMIOS TO INITIATE A DIAMOND DRILLING PROGRAM
ON ITS JW PROPERTY IN THE GALORE CREEK AREA
Toronto, Ontario, May 15, 2007: The management of Romios Gold
Resources Inc. (TSX-V:RG) is pleased to announce its intention to
initiate a minimum 800 metre diamond drilling program on its JW Property
which consists of 613.8 hectares (1,516.7 acres) of land in the Liard
Mining Division in northwestern British Columbia. In addition, a
combined airborne magnetic, electromagnetic and resistivity survey will
be carried out over the entire property (see Press Release dated May 8,
2007). The property is located in the Galore Creek area and lies within
the parcel of land which houses the large copper-gold-silver deposits
currently being developed by NovaGold Resources. For the location of the
JW Property, see property map in Romios’ website:
www.romios.com.
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Construction of a camp to house the drillers will begin by the end of
May and drilling will commence shortly thereafter. Romios can earn a
100% interest in the JW Property, subject to a 2% Net Smelter Returns
Royalty in favour of the optionors, the Galore Creek Syndicate of
Vancouver, by paying a total of $115,000 in cash option payments,
issuing a total of 500,000 common shares and expending an aggregate of
$2,000,000 on exploration on the property over a four year period.
The JW property covers two distinct types of potentially economic,
gold-bearing mineralization: the North Fork copper-gold porphyry
prospect and a number of high-grade quartz-sulphide veins. The North
Fork prospect is characterized by large, coincident gold and copper soil
geochemical anomalies over an area of 500 X 1400 metres which are open
to the north and the south. Since its discovery in the early 1960s, the
JW Property has received only sporadic exploration attention, largely
because of its remote location and mountainous topography. The last and
most productive burst of exploration on the property was carried out
from 1988 to 1990 when the Snip and Eskay Creek mines were being
discovered 80 kilometres to the southeast in the equally remote and
mountainous Iskut River region. In 1990, the five core holes that were
drilled by Bellex Mining Corp, tested only a small portion of the large
geochemical anomaly at its south end. Each hole intersected
porphyry-style copper-gold mineralization which included 45 metres
grading 0.24% copper and 0.4 grams/tonne gold in DDH 90JW-3 and 51
metres grading 0.24% copper and 0.5 grams/tonne gold in DDH 90JW-1.
Romios intends to focus its forthcoming drill program in the northern
portion of the geochemical anomaly in a wider and higher grade zone
which has not been tested previously by diamond drilling.
In addition to the North Fork porphyry prospect, at least six
gold-rich quartz-sulphide veins have been discovered and sampled within
a large pyritic halo surrounding the North Fork zone prospect. On one of
the veins, known as the Jake Vein located near the northern boundary of
the JW Property, 29 chip samples collected along 170 metres of strike
length averaged 25.3 grams/tonne gold where the vein averaged 0.23 metre
in width. The best sample assayed 169 grams/tonne gold across 0.4 metres.
There is no historical evidence to indicate that any of these veins have
ever been tested by diamond drilling. Several intensely silicified shear
zones are exposed within a microdiorite near the foot of the North Fork
canyon. A 3.4 metre chip sample across one of these shear zones assayed
11.3 grams/tonne gold and 0.11% copper. A 1.0 metre grab sample across
another portion of the same shear zone assayed 42.8 grams/tonne gold and
0.24% copper.
The assay results referred to above were derived from a report
provided to Romios by the Galore Creek Syndicate. A qualified person has
not confirmed any of the results referred to above and the assay results
may not be in compliance with NI 43-101.
For the purposes of the disclosure in this press release, Thomas
Skimming, P.Eng., Vice-President Exploration and Director of the
Company, is the Qualified Person (“QP”) in accordance with NI 43-101.
About Romios Gold Resources Inc.
Romios Gold Resources Inc is a Canadian exploration company which
focuses on the acquisition and exploration of precious and base metal
prospects in the vicinity of major mining camps throughout North
America. Currently, Romios is involved in several major exploration
projects in British Columbia, Ontario and Nevada. Romios has been a
public company since 1995 and in addition to trading on the Toronto
Venture Exchange, it trades on the Over-The-Counter market in the United
States (Exemption N0. 82-5093, symbol: RMIOF) and on the Frankfurt Stock
Exchange in Germany (symbol: D4R).
For further information about Romios or this press release, please
visit our website at
www.romios.com or contact:
Tom Drivas, President and Director
416-221-4124 or 416-218-9772 (fax)
romios@romios.com
Thomas Skimming, Vice President of Exploration and Director
416-444-0900 or 416-444-0586 (fax)
tmsk8ing@hotmail.com
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy
of this release.
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Cautionary Note Regarding Forward-Looking Statements: This Press
Release contains forward-looking statements that involve risks and
uncertainties, which may cause actual results to differ materially from
the statements made. When used in this document, the words "may",
"would", "could", "will", "intend", "plan", "anticipate", "believe",
"estimate", "expect" and similar expressions are intended to identify
forward-looking statements. Such statements reflect our current views
with respect to future events and are subject to such risks and
uncertainties. Many factors could cause our actual results to differ
materially from the statements made, including those factors discussed
in filings made by us with the Canadian securities regulatory
authorities. Should one or more of these risks and uncertainties, such
actual results of current exploration programs, the general risks
associated with the mining industry, the price of gold and other metals,
currency and interest rate fluctuations, increased competition and
general economic and market factors, occur or should assumptions
underlying the forward looking statements prove incorrect, actual
results may vary materially from those described herein as intended,
planned, anticipated, or expected. We do not intend and do not assume
any obligation to update these forward-looking statements. Shareholders
are cautioned not to put undue reliance on such forward-looking
statements
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may hold positions in the stocks or companies mentioned.
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assure accuracy of the research presented. Investors are
encouraged to research and verify facts and under no
circumstances is InvestorIdeas.com® endorsing the content as a
recommendation to buy or sell stock.
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