Romarco Minerals Inc.
TSX : R

Romarco Minerals Inc.

September 27, 2011 07:41 ET

Romarco Announces $80 Million Bought Deal Financing

TORONTO, ONTARIO--(Marketwire - Sept. 27, 2011) -

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

ROMARCO MINERALS INC. (TSX:R) (the "Company" or "Romarco") is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by National Bank Financial Inc. (the "Underwriters") and BMO Capital Markets, under which the Underwriters have agreed to buy from the Company, on a bought deal basis, 70,000,000 common shares at an issue price of $1.15 per common share for gross proceeds of $80,500,000 (the "Offering").

The Underwriters have been granted an over-allotment option for the Offering, exercisable at any time prior to 30 days after the closing date of the Offering, to acquire up to an additional 10,500,000 common shares of the Company at the issue price applicable to the Offering. The Company must file a short form prospectus with the securities regulatory authorities to qualify the common shares for distribution.

The net proceeds from the Offering will be used to fund the development of the Haile Gold mine and for general corporate purposes. Closing of the Offering is expected to occur on or about October 19, 2011.

The Offering is being made in all provinces of Canada other than Quebec, and is subject to the approval of regulatory authorities.

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 jurisdiction in which such offer, solicitation or sale would be unlawful. This news release and the information contained herein does not constitute an offer of securities for sale in the United States and securities may not be offered or sold in the United States absent registration or exemption from registration.

About Romarco Minerals Inc.

Romarco Minerals Inc. is a gold development company focused on production primarily in the US. The Company has completed a positive Feasibility study and is continuing exploration and permitting for its flagship project, the Haile Gold Mine in South Carolina.

Please note:

This entire press release may be accessed via fax, e-mail, Romarco's website at www.romarco.com and through CNW Group's website at www.newswire.ca. All material information on Romarco Minerals Inc. can be found at www.sedar.com.

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