Romarco Minerals Inc.

Romarco Minerals Inc.

March 27, 2007 08:31 ET

Romarco Divests of Cori Puncho Interest; Romarco Drilling Update

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 27, 2007) - ROMARCO MINERALS INC. (TSX VENTURE:R) announces that it has divested of its 50% interest in the Cori Puncho Gold Project in Peru to its Joint Venture partner New Dimension Resources Ltd. (TSX VENTURE:NDR).

Romarco will retain a 5% NSR on the project for as long as the project is held by New Dimension. In the event New Dimension enters into a Joint Venture with another party, Romarco has the ability to re-coup its initial investment by receiving 25% of any cash proceeds to New Dimension up to a maximum of US$100,000. Romarco has written-off the associated deferred costs of $389,662 as at December 31, 2006.

Divesting of this interest allows Romarco to focus on its Pinos Gold Project in Mexico and its Nevada exploration projects.

Pinos Drilling Update:

Romarco has completed five holes to date and has assays pending. Hole PDDH-5 intersected an 8.5 meter wide vein and the drill hole ended in vein - see photos on Romarco's website ( Four of the five drill holes have intersected vein or stockwork vein which confirms that the previously mined veins extended to at least 200 meters below the historic workings (which ended at approximately 100 m). Hole PDDH-2 intersecting a cross-cutting fault and missed the vein intersected in Hole PDDH-1 from the same location. Romarco is continuing to sample underground and outcropping veins on the project area - one in particular is the Penitas Vein (on Romarco's 100% property). The Penitas Vein is a 7.5 meter wide vein exposed at surface. Initial channel sample results returned an average of 6 g/t gold and 190 g/t silver.

Pine Grove Drilling Update:

Romarco has assay results pending on the first two reverse circulation holes drilled in the 2007 program. A core drilling rig is anticipated to be on the property in early May to complete the first phase of the 2007 program on the east side of the property. Romarco has plans to drill the Rockland Mine area in 2007 and is waiting on permits.

Tommy Thompson is Romarco's Q.P. on the Pinos Project and Tom Kilbey is Romarco's Q.P. on the Pine Grove Project.

Romarco Minerals is an advanced stage exploration company with 5 projects in Nevada and one gold district in Zacatecas, Mexico.


Diane R. Garrett, President and C.E.O.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

Contact Information