Royal Standard Minerals Inc.

Royal Standard Minerals Inc.

March 14, 2005 11:49 ET

RSM to Increase Private Placement Financing to $4.2 Million


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: ROYAL STANDARD MINERALS INC.

TSX VENTURE SYMBOL: RSM
OTC Bulletin Board SYMBOL: RYSMF

MARCH 14, 2005 - 11:49 ET

RSM to Increase Private Placement Financing to $4.2
Million

SPARKS, NEVADA--(CCNMatthews - March 14, 2005) - ROYAL STANDARD MINERALS
INC. (RSM) (TSX VENTURE:RSM)(OTCBB:RYSMF) announces that, further to the
news release of March 11, 2005 a previously announced private placement
of up to $2.45 million has been increased up to $4.2 million. Canaccord
Capital (the "Agent") will have an over-allotment option to expand the
brokered private placement by 3,000,000 units, bringing the maximum
brokered offering to 10,000,000 units for gross proceeds of $3,500,000.
The unit terms remain unchanged at $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 $0.50 per share for a period of 24 months
from the Closing Date. The Agent's Warrant rate on the whole brokered
financing will be 15% rather than 20% as stated in the previous news
release.

In addition, the Company will be making a non-brokered private placement
of up to 2,000,000 units on identical terms as the brokered private
placement. An 8% finders fee may be paid on the non-brokered placement.

The use of proceeds will be to complete the construction of Company's
Gold Wedge project surface facilities and expand the underground
development in Nye County, Nevada. This funding will also include
advancing the mine permit application and surface drilling of the
Pinon-Railroad project (Elko County) and the commencement of a drilling
program at the Fondaway Canyon (Churchill County) project in 2005.

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

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

The TSX 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

LISTED: STANDARD & POORS

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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