Romios Gold Resources Inc.
TSX VENTURE : RG
OTCBB : RMIOF
FRANKFURT : D4R

Romios Gold Resources Inc.

April 03, 2012 08:00 ET

Romios is Pleased by AltaGas and Tahltan First Nations Agreement to Pursue 66 MW McLymont Hydroelectric Power Project

TORONTO, ONTARIO--(Marketwire - April 3, 2012) - Romios Gold Resources Inc. (TSX VENTURE:RG)(OTCBB:RMIOF)(FRANKFURT:D4R) ("Romios" or the "Company") is pleased by the recent announcement by AltaGas Ltd. regarding the initiation of the McLymont Creek hydroelectric project, located within 10 kilometres of Romios' gold-copper-silver Newmont Lake Project, northwestern British Columbia.

In a news release dated March 8, 2012, AltaGas announced the impending construction and infrastructure pertaining to their McLymont Creek hydroelectric project. Construction of the project, planned to produce 66 MW of hydroelectric power, is scheduled to begin in the latter part of 2012, subject to environmental assessment and permitting, and is estimated to be operational by late 2015.

The McLymont Creek hydroelectric project is situated within 10 kilometres of Romios' Newmont Lake Property, and lies within the McLymont River Valley where Romios is planning an exploration program in 2012 to enhance its existing NI 43-101 compliant resource at its Northwest Zone. Romios will also drill test a number of other mineralized zones in the vicinity with the intent of increasing the resource at its Newmont Lake Project.

The AltaGas' Forrest Kerr and McLymont hydroelectric projects will be connected to the federal-provincially funded Highway 37 powerline from Terrace to Bob Quinn Lake, presently under construction. This will require construction of road access from the existing Eskay Creek road to AltaGas' project.

Together, BC Hydro's Hwy 37 transmission line, with an expected completion date in late 2013, and AltaGas' expected completion date of the McLymont Creek hydroelectric project in late 2015, will bring power and road access nearly the full distance to the Newmont Lake Project, making the Newmont Lake Project one of the most accessible upcoming gold-copper-silver metallogenic districts within the northwestern B.C. area.

About Romios Gold Resources Inc.

Romios Gold Resources Inc., a progressive Canadian mineral exploration company established in 1995, is headquartered in Toronto and is actively engaged in precious and base metal exploration across North America with a primary focus on gold, silver and copper. Romios has significant property interests in British Columbia, Ontario, Quebec and Nevada. The Company is undertaking extensive exploration work on its Galore Creek area properties in British Columbia, which are centrally located between Galore Creek Mining Corporation's large copper-gold-silver deposit and Barrick's high grade gold mine at Eskay Creek.

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, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts 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)
    romios@romios.com

    Romios Gold Resources Inc.
    Mel de Quadros, Ph.D., P.Eng.
    Director
    416-668-6145
    ymirconsulting@gmail.com

    Romios Gold Resources Inc.
    Michael D'Amico
    CFO, Investor Relations
    647-500-6023
    Michael@baystreetconnect.com

    Head Office: Romios Gold Resources Inc.
    25 Adelaide Street East, Suite 1010
    Toronto, ON Canada, M5C 3A1
    416-221-4124
    416 218-9772 (FAX)
    www.romios.com