Romarco Minerals Inc.
TSX VENTURE : R

Romarco Minerals Inc.

March 22, 2010 16:21 ET

Romarco Minerals Inc.-Announces Bought Deal Financing

TORONTO, ONTARIO--(Marketwire - March 22, 2010) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Romarco Minerals Inc. (TSX VENTURE:R) ("Romarco") has announced today that it has entered into an agreement with a syndicate of underwriters co-led by BMO Capital Markets and Paradigm Capital, under which the underwriters have agreed to buy on bought deal basis by way of a short form prospectus, 61,000,000 Common Shares (the "Common Shares"), at a price of $1.97 per Common Share for gross proceeds of approximately $120 million. Romarco has also granted the underwriters an option to buy up to an additional 15% of the Common Shares at the offering price to cover over-allotments, if any. The offering is expected to close on or about April 13, 2010 and is subject to Romarco receiving all necessary regulatory approvals.

The net proceeds of the offering will be used to move the Haile project forward to feasibility and for working capital purposes.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

About Romarco Minerals Inc.

Romarco Minerals Inc. is a gold development company focused on production in the US and Mexico. The Company's flagship project is the Haile Gold Mine in South Carolina which is currently in the process of a feasibility study and continued exploration drilling.

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