Romios Gold Resources Inc.
TSX VENTURE : RG
OTC Bulletin Board : RMIOF
FRANKFURT : D4R

Romios Gold Resources Inc.

October 16, 2006 10:26 ET

Romios Announces Results of Drill Program at its Scossa Property in Nevada

TORONTO, ONTARIO--(CCNMatthews - Oct. 16, 2006) - The management of Romios Gold Resources Inc. ("Romios" or "The Corporation") (TSX VENTURE:RG)(OTCBB:RMIOF)(FRANKFURT:D4R) is pleased to announce the results of the reverse circulation drill program on its Scossa Property in Pershing County, Nevada. A total of 11 holes (RGR-20 through RGR-30), collectively amounting to 9,847 feet in length, were completed, logged and sampled. As a result of this phase of drilling on the property, several encouraging zones of gold mineralization were encountered in the drilling and many more veins on the property remain to be tested.

The principal targets in this phase of drilling were the Scossa, North Star No.2 and the Angel Wing veins between 500 and 1,200 feet down dip from their surface exposures. The deeper levels on these targeted veins are totally unexplored. In the opinion of management, the results from this phase of drilling are encouraging in that the veins were found to be increasing in width and gold content with depth. Drill holes RGR-20 (from 600 to 605 feet) and RGR-21 (from 910 to 915 feet), both 5 foot intersections, assayed 6.13 g/t and 3.17 g/t in gold, respectively. The coarse reject from the rotary vane splitter at the drill site from hole RGR-21 (from 905 to 925 feet) averaged 2.35 g/t in gold over the entire 20 foot interval. A five feet interval in hole RGR-20 (from 605 to 610 feet) assayed 2.39 g/t. Samples of vein material from holes RGR-20, RGR-21, RGR-22, RGR-25, RGR-26, RGR-27 and RGR-28, each over a 5 foot interval, contained gold values ranging from 1 to 6 g/t occurring mainly in the Scossa Vein (see chart following).

Small quantities of visible gold were observed in the Scossa, Noble, North Star No.2 and the Angel Wing veins. In the No.4 shaft or Noble Vein intersection in hole RGR-20 (from 600 to 615 feet) coarse visible gold was observed during the logging of the cuttings. Within this section, the sample from 600 to 605 feet assayed 6.13 g/t, the highest gold value encountered during this phase of drilling. This area will be targeted in the next phase of drilling on the Scossa Property. Hole RGR-27 intersected a 5 foot section (from 315 to 320 feet) that assayed 1.5 g/t in gold within the #4 Shaft Vein. Unexpectedly, hole RGR-26 encountered a zone of "blind" veining from 130 to 170 feet but contained only low gold values at the point of intersection. The following chart, illustrates the details of the highest gold values that were encountered in the current reverse circulation drill program:



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DRILL HOLE INTERSECTION INTERVAL LENGTH GOLD
NUMBER (in feet) (in feet) (in ppm)
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RGR-20 395 - 400 5 0.895
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600 - 605 5 6.130
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605 - 610 5 2.390
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615 - 620 5 0.769
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RGR-21 905 - 925 20 2.350
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905 - 910 5 0.931
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910 - 915 5 3.170
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925 - 930 5 0.542
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935 - 940 5 0.569
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960 - 965 5 0.856
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975 - 980 5 0.491
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RGR-22 505 - 510 5 0.631
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845 - 850 5 0.706
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845 - 850 5 1.030
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RGR-23 168 - 177 9 0.656
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340 - 345 5 0.848
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595 - 600 5 0.502
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RGR-24 400 - 405 5 0.355
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RGR-25 406 - 413 7 0.756
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405 - 410 5 1.025
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410 - 415 5 0.697
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415 - 420 5 0.474
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RGR-26 835 - 840 5 0.554
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RGR 27 20 - 25 5 1.255
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25 - 30 5 1.175
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30 - 35 5 2.230
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35 - 40 5 5.960
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40 - 45 5 2.800
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315 - 320 5 1.515
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320 - 325 5 0.687
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335 - 340 5 0.628
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RGR-28 40 - 45 5 1.990
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45 - 50 5 1.510
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320 - 325 5 0.533
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325 - 330 5 0.553
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RGR-29 595 - 600 5 0.596
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Please Note: 1 ppm equals 1 gram per tonne (g/t)


The East Vein, #4 Shaft Vein and the Noble Vein were essentially untested, by the current program and the previous drilling programs on the Scossa Property. Future drilling will target these veins both down dip and along strike. Further infill drilling of the Scossa, North Star No.2 and the Angel Wing veins will be planned to test the dilation zone between the RGR-29 and RGR-25/RGR-26 drill pads. Since visible gold is fairly common at Scossa, duplicate samples and metallic screen samples are being collected and analyzed. If the results are materially different from those illustrated in the preceding chart, a press release will be issued.

To date, three limited phases of drilling have been completed at Scossa. Management is encouraged that the gold grades are consistently anomalous and often quite variable, which is normal for an epithermal vein system. Many important targets remain to be tested at Scossa and there is plenty of room for an undiscovered bonanza gold zone within the known vein systems on the property. The next drill program will be planned with this precept in mind.

Romios trades on the TSX Venture Exchange (Symbol: RG) and on the "over the counter" market in the United States (Exemption No. 82-5093, Symbol: RMIOF) and the Frankfurt Stock Exchange (Symbol: D4R).

For the purposes of the disclosure in this Press Release, William Utterback, Consulting Geologist is the Qualified Person ("QP") in accordance with NI 43-101.

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.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Romios Gold Resources Inc.
    Tom Drivas
    President and Director
    (416) 221-4124
    (416) 218-9772 (FAX)
    Email: romios@romios.com
    or
    Romios Gold Resources Inc.
    Thomas Skimming
    Vice President of Exploration and Director
    (416) 444-0900
    (416) 444-0586 (FAX)
    Email: tmsk8ing@hotmail.com