SOURCE: Royal Standard Minerals, Inc.

Royal Standard Minerals, Inc.

September 08, 2009 09:53 ET

Royal Standard Minerals, Inc. (RYSMF) Has Exercised Its Option to Purchase 100% Interest in the Railroad Project, Elko County, Nevada

MANHATTAN, NV--(Marketwire - September 8, 2009) - Royal Standard Minerals, Inc. (OTCBB: RYSMF) (CUSIP 780919106) ("RSM") announces its has purchased 100% interest in the Railroad project, located in Elko County, Nevada, and sold its 100% interest to an unrelated private company for a total transaction price of $2.965 million. RSM's net after payout of the option to purchase exercise is $1.2 million. As part of this transaction, RSM retains a 1% NSR royalty and received 500,000 common shares in the private company. This transaction closed on August 31, 2009. The Company retains its 100% interest in the Pinon and Darkstar properties and the included land position in Elko County, Nevada.

Plans for 2009-2010 continue to include evaluating all options to maximize shareholder value to include several initiatives that are expected to unlock the inherent value of the existing assets that are 100% controlled by the Company in Nevada. As stated previously, RSM will seek to develop a capital structure that will finance the Company for future growth over the next two years. This effort includes capitalizing the Goldwedge and the Pinon projects toward further development and identifying potential joint venture or investment partners that are capitalized for growth.

RSM is a natural resource exploration and development company,

For further information about this release contact Mr. Roland Larsen, (775) 487-2454 and/or Mr. Rich Kaiser, Investor Relations, 800-631-8127.

Royal Standard Minerals cautions that the statements made in this press release constitute forward-looking statements, and no guarantees of future performance and actual results or developments may differ materially from the projections in the forward-looking statements. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made.

Contact Information

  • Contact:
    Roland Larsen

    Rich Kaiser