eResearch

eResearch

July 11, 2007 15:28 ET

eResearch Initiates Coverage on Royal Roads Corp.

TORONTO, ONTARIO--(Marketwire - July 11, 2007) - eResearch analysts, Nigel Heath BBM (Accounting/Finance), CFA and Bob Weir, B.Sc., B.Comm., CFA have written an Initiating Report on Royal Roads Corp. (TSX VENTURE:RRO). Royal Roads is engaged in the exploration of mineral properties in south-central Newfoundland. The Company owns 100% of the Tulks North Property, hosting the Daniels Pond zinc-lead-silver deposit. In addition, it holds a 34% interest in Buchans River Ltd. which owns 100% of the Buchans Property, comprising 512 mineral claims at the renowned Buchans base metal camp in Newfoundland.

The report's Highlights state the following:

- The shares are recommended as a Speculative Buy with a 12-month Target Price of $0.75.

- Company's exploration is centered on Newfoundland's renowned Buchans base metal camp.

- Current 12,500 metre drill program at Daniel's Pond could upgrade Inferred Resources to Indicated Resources by early 2008.

- Buchans River, 34% owned, has active exploration program near-by.

- Considerable exploration activity in the area by other mining companies.

- Aur Resources recently commenced production at its near-by zinc-copper Duck Pond Mine.

- Newfoundland is a "mining-friendly" province.

- Both Royal Roads and Buchans River are currently well-financed.

- Low liquidity of Company's stock; small market cap.

- Low investor awareness of Company and its potential.

- Minority position in Buchans River is not ideal.

eResearch, which prepared this Press Release, is Canada's primary source for independent, quality, investment research, focused primarily on small- and mid-cap companies. Our research and analysis is of institutional quality, and has the potential of reaching millions of global investors through our extensive electronic distribution network. eResearch does not trade in the securities of the companies it covers, nor does it accept any stock related compensation for research services. eResearch does not engage in retail or institutional sales, trading, or corporate finance activities, nor does it conduct investment banking or investor relations services for the companies covered. Our sole business is providing quality, unbiased research.

Royal Roads Corp. paid eResearch a fee of C$18,500 + GST to conduct research on the Company, on an Annual Continuous Coverage basis.

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