Royal Standard Minerals Inc.
OTC Bulletin Board : RYSMF

Royal Standard Minerals Inc.

October 20, 2006 17:23 ET

Royal Standard Minerals Inc.: Press Release

SPARKS, NEVADA--(CCNMatthews - Oct. 20, 2006) - ROYAL STANDARD MINERALS INC. (TSX VENTURE:RSM)(OTCBB:RYSMF) The board of directors of Royal Standard Minerals Inc. (the "Company") announces that the Board has elected Jeffrey B. Wolin of Los Angeles, California to serve as a director of the Company until the next Annual General Meeting, subject to regulatory approval. Mr. Wolin is the president of Brighton Capital, Ltd, a boutique investment banking firm representing parties in mergers and acquisitions, public and private placements, convertible preferred/debt offerings, debt/equity swaps, senior debt offerings and related services. Brighton Capital, Ltd. represents companies that are seeking investors or lenders as well as top tier institutional investors and lenders that are seeking to invest and or loan capital to companies with a strong management team in place, a credible business plan, and a requirement for capital to fund the next phase of growth. Mr. Wolin is a graduate of Columbia University with a B.S. in Chemical and Biomedical Engineering and a graduate of the University of Miami with a J.D.

Roland Larsen commenting on the election stated: "We are elated to fill the fifth position with an independent director who is intimately familiar with the financing needs of companies. Mr. Wolin adds an additional dimension to the Board and we look forward to working with him."

The Company has received requisitions for a shareholders meeting from a group of persons claiming to hold in excess of 10% of the outstanding shares in the Company. The group issuing the requisitions have expressed dissatisfaction with the direction of the Company. The purpose of the meeting as stated in the requisitions is to remove the existing directors and replace them with persons named in the requisitions. The Company is currently reviewing the requisitions with its legal counsel and intends to fully comply with its statutory and governance obligations.

Royal Standard Minerals Inc. is an exploration and development company with advanced gold projects in Nevada.

The Canadian Venture Exchange does not accept responsibility for adequacy or accuracy of this release as per Exchange Policy 3.3 section 6.5.

Royal Standard Minerals cautions that the statements made in this press release and other forward looking statements made on behalf of the Company may be affected by such other factors including, but not limited to, volatility of mineral prices, product demand, market competition, imprecision of mineral estimates, and other risks detailed herein and from time to time in the Securities and Exchange Commission filings of the Company.

C.U.S.I.P. # 780919106


Contact Information

  • Royal Standard Minerals Inc.
    Roland Larsen
    (804) 580-8107
    (804) 580-4132 (FAX)