Romios Gold Resources Inc.
TSX VENTURE : RG

Romios Gold Resources Inc.

November 13, 2006 08:50 ET

Romios Completes Exploration Program on Its Porc Property in the Galore Creek Area

TORONTO, ONTARIO--(CCNMatthews - Nov. 13, 2006) -

The management of Romios Gold Resources Inc. ("Romios" or "The Corporation")(TSX VENTURE:RG) is pleased to announce that it has received the results from the exploration program that was carried out on its 704.3 hectares (1,740.3 acres) Porc Property (western claim of the Royce/Porc Properties - see Press Release dated April 27, 2006) located in the Galore Creek area of northwestern British Columbia. The property lies within the large parcel of land which hosts NovaGold Resources' Galore Creek Project (measured and indicated reserves of 7.4 million ounces of gold, 117.1 million ounces of silver and 8.5 billion pounds of copper as of August 31, 2006 - refer to the NovaGold website). For location of the Porc Property, see property map in Romios' website: www.romios.com.

An exploration program, consisting of geological mapping, prospecting and a grid soil sampling survey was carried out on the Porc Property during the summer by personnel of Equity Engineering Ltd., under contract to Romios Gold Resources Inc. This work revealed the existence of two main types of mineralization on the property; namely, a wide and continuous quartz-sulphide vein system and a possible VMS (volcanic massive sulphide) type of mineralization. A wide, quartz-sulphide vein was observed in several outcrops and was found to consist of white, bull quartz containing approximately 10% combined pyrrhotite, pyrite, galena, sphalerite, argentite and chalcopyrite. The vein appears to be structurally deformed and plunges gently to the south-southeast and appears to have an average true thickness of at least 6 metres. It was traced to the northwest for approximately 400 metres by prospecting and geological mapping and was found to coincide with a large geochemical soil anomaly. The quartz-sulphide vein is best defined by the silver content in the soil where a large silver geochemical anomaly that trends for 1200 metres across the grid was found to coincide with mapped outcrops of the large quartz-sulphide vein. The multi-element geochemical anomaly trends for over 1600 metres along the entire length of the grid and measures about 150 metres in width. The two geochemical anomalies are open on both ends. A select grab sample from the vein assayed 9.61 grams/tonne in gold, 998.0 grams/tonne in silver, 1.93% lead and 3.49% zinc. A different random grab sample of vein material assayed 950 ppb in gold, 669 grams/tonne in silver, 1.85% lead and 796 ppm in zinc. Highlights of the limited number of grab samples that were collected from the quartz-sulphide vein are presented in the following table:



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Sample # Type Au(ppb) Ag(ppm) Bi(ppm) Cd(ppm) Cu(ppm) Pb(ppm) Zn(ppm)
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391107 float 210 153 g/t 264 120 40 4920 2930
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391108 grab 950 669 g/t 1265 38.8 46 1.85% 796
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270568 grab 460 41.9 67 0.8 12 1410 21
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270569 grab 820 10.9 22 13.1 40 267 152
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270570 grab 10 3.1 12 254 185 39 4480
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greater
than
270571 select 9.61 g/t 998 g/t 1895 500 428 1.93% 3.49%
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In addition to the quartz-sulphide vein system, a large zone of interlayered rhyolite and fine-grained clastic sedimentary rocks containing quartz-sulphide stringers and conformable sulphide lenses were discovered over a strike length of 500 metres. The sulphides were found to consist principally of pyrite and chalcopyrite and are believed to represent a feeder zone for a strata-bound zone of possible VMS-type mineralization. This mineralization coincides with the previously mentioned multi-element geochemical anomaly that appears to transcend the entire Porc Property. Highlight of the limited number of samples collected from quartz-sulphide stringers are presented in the following table:



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Sample Type Host Au(ppb) Ag(ppm) Cu(ppm) Pb(ppm) Zn(ppm)
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391112 Float Andesite 280 0.9 38 15 46
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391121 Grab Rhyolite 320 5.3 262 6 7
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391123 Float Siltstone 1.62 g/t 1.6 255 5 30
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270594 Select Siltstone 50 32.1 1335 463 2930
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270595 Grab Mudstone 90 78.8 1.29% 961 4500
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The management of Romios is highly encouraged by the results of the recent exploration program on the Porc Property and intends to carry out a more comprehensive program during the forthcoming summer season to assess the significance of the geochemical anomalies and the precious and base metal mineralization identified during the 2006 summer field season.

Romios can earn a 100% interest in the Royce/Porc Property (the Property), subject to a 2% Net Smelter Returns Royalty in favour of the optionors, by paying a total of $110,000 in cash option payments, issuing a total of 500,000 common shares and expending an aggregate of $1,000,000 on the Property over four years. Romios must pay $10,000 and issue 50,000 common shares on closing and spend $75,000 in the first year on the Property. All of the initial commitments under the agreement with the optionors have been satisfied.

This news release was prepared by Romios from information provided by Equity Engineering Ltd. Henry Awmack, P.Eng. of Equity Engineering Ltd., a Qualified Person ("QP") for the purposes of National Instrument 43-101 is the QP for the purposes of this news release.

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
    Email: tmsk8ing@hotmail.com
    Website: www.romios.com