Royal Standard Minerals Inc.

Royal Standard Minerals Inc.

March 11, 2005 13:02 ET

RSM to Complete a Private Placement Financing


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: ROYAL STANDARD MINERALS INC.

TSX VENTURE SYMBOL: RSM
OTC Bulletin Board SYMBOL: RYSMF

MARCH 11, 2005 - 13:02 ET

RSM to Complete a Private Placement Financing

SPARKS, NEVADA--(CCNMatthews - March 11, 2005) - ROYAL STANDARD MINERALS
INC. (TSX VENTURE:RSM)(OTCBB:RYSMF) is pleased to announce that it has
engaged Canaccord Capital Corporation ("Canaccord") to conduct a private
placement of up to C$2.45 million on a commercially reasonable efforts
basis. The financing will consist of up to 7,000,000 units ("Units") of
the Company's at C$0.35 per unit. Each Unit consists of 1 common share
and one-half common share purchase Warrant ("Warrant"). Each whole
Warrant will entitle the holder to subscribe for one additional Share at
a price of C$0.50 per share for a period of 24 months from the Closing
Date. Canaccord will receive an 8% commission of which it may elect to
be paid up to half in Units and agents warrants equal to 20% of the
Units sold, having the same terms as the Warrants. Canaccord will also
receive a cash administration fee and a corporate finance fee payable in
Units.

The use of proceeds will be to initiate the decline construction and
surface drilling program on the Company's Gold Wedge project in Nye
County, Nevada.

RSM is an exploration and development company with advanced gold
projects in Nevada.

The closing of this transaction is subject to the various regulatory
approvals.

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

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Royal Standard Minerals Inc.
    Roland Larsen
    (804) 580-8107
    (804) 580-4132 (FAX)
    www.Royal-Standard.com