ROMARCO ANNOUNCES ANNUAL GENERAL AND SPECIAL MEETING RESULTS AND PROVIDES CORPORATE UPDATE

MONTREAL, June 9, 2011 /CNW Telbec/ - ROMARCO MINERALS INC. (TSX:R) (the "Company") is pleased to announce that shareholders approved each of the matters submitted for vote, including all directors and the Amended and Restated Shareholders Rights Plan Agreement at its Annual General and Special Meeting ("AGM") yesterday.

Diane Garrett, President & CEO commented: "I would like to thank our shareholders for their continuing support, our board of directors for their guidance and effort over the past year, and our employees for their contributions and dedication to making Romarco a successful development company that is advancing into production."

Operations Team

Romarco is pleased to announce the appointment of Mr. Michael F. Gleason as Construction Manager at its Haile Gold Mine project effective June 21, 2011.

Mr. Gleason has more than 30 years of engineering and project management experience at both green field and brown field projects.  Mr. Gleason brings extensive domestic and international project management experience, including design, construction and start-up of more than a dozen major underground and surface mining projects.  Mr. Gleason was most recently Commissioning Manager and Project Engineer for engineering, construction and start-up of Freeport McMoRan's Climax mine in Colorado.  Prior to that Mr. Gleason held various project manager and project engineering roles with Coeur d'Alene Mines Corp., Newmont Mining Co. and Santa Fe Pacific Gold.  Mr. Gleason holds a Bachelor of Arts, Business and HR Management degree from Simpson University in Redding, CA.

Jim Arnold, Sr. VP & COO commented, "We are very excited about being able to attract talent such as Mike.  This is a testament to the strength of our project at Haile and the terrific work that the current team has done.  Mike is joining us at an essential time as we begin transitioning into detailed engineering and design for the project."

Permitting

The Company has filed its responses to comments received for its Federal 404 wetlands permit with the US Army Corps of Engineers ("USACE") as part of the on-going permit process.  The permit application is currently in the Environmental Assessment ("EA") process and upon final review of all materials submitted by the Company, USACE will determine if the process should continue as an EA or if the Company should complete an Environmental Impact Statement ("EIS").  The Company has previously disclosed that an EIS could take approximately 12 additional months.  The Company believes it has completed all studies necessary for an EA and EIS and therefore would anticipate minimal additional permitting expenditures should there be any delay.  USACE has indicated to the Company it intends to make this decision in early July.

Exploration

The Company continues to drill the Haile property with 11 rigs (seven core and four RC) and as of June 4, 2011, the Company has completed approximately 80,000 meters (47%) of its planned 172,000-meter drill program for 2011.  The 2011 drill program remains on schedule and budget.

Romarco's regional geology team has been reviewing historical mining districts and regional exploration targets within the Carolina Slate Belt ("CSB") over the past two years.  Based upon the Company's geological knowledge and experience at Haile, it has prioritized exploration targets in the region.  To date, the Company has acquired control of five regional exploration targets within the CSB - three of the targets are located in South Carolina and two are located in North Carolina.  The Company anticipates it will commence drilling its regional targets during the second half of 2011.  Further information on the regional targets can be found on the Company's website at www.romarco.com

About Romarco Minerals Inc.

Romarco Minerals Inc. is a gold development company focused on production primarily in the US.  The Company has completed a positive Feasibility study and is continuing exploration drilling and permitting for its flagship project, the Haile Gold Mine in South Carolina.

FORWARD-LOOKING INFORMATION

This Press Release contains "forward-looking information" that is based on Romarco's expectations, estimates and projections as of the dates as of which those statements were made. This forward-looking information includes, among other things, statements with respect to the Company's business strategy, plans, outlook, expenditures for environmental matters, and completion dates for the various development stages of mines.  Generally, this forward-looking information can be identified by the use of forward-looking terminology such as "outlook", "anticipate", "project", "target", "believe", "estimate", "expect", "intend", "should", "scheduled", "will", "plan" and similar expressions. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Romarco's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, and developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to:

  • uncertainties relating to the ability of the Company to secure the various permits to conduct its current and anticipated future operations;
  • uncertainties relating to actual capital costs, operating costs and expenditures, production schedules and economic returns; and
  • risks associated with Romarco's operations being subject to significant environmental laws and regulations, including change in governmental regulation;

A discussion of these and other factors that may affect Romarco's actual results, performance, achievements or financial position is contained in the filings by Romarco with the Canadian provincial securities regulatory authorities, including Romarco's Annual Information Form. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the continued operation of Romarco's mining operations, no material adverse change in the market price of commodities, that the mining operations will operate in accordance with Romarco's public statements and achieve its stated production outcomes, and such other assumptions and factors as set out herein. Although Romarco has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate.  Accordingly, readers should not place undue reliance on forward-looking statements. Romarco disclaims any intent or obligations to update or revise publicly any forward-looking statements whether as a result of new information, estimates or options, future events or results or otherwise, unless required to do so by law.

Please note:
This entire press release may be accessed via fax, e-mail, Romarco's website at www.romarco.com and through CNW Group's website at www.newswire.ca. All material information on Romarco Minerals Inc. can be found at www.sedar.com

 

SOURCE ROMARCO MINERALS INC.

For further information:

Romarco Minerals Inc.  

Diane Garrett, President and CEO
Phone: 210-621-4200
E-mail: dgarrett@romarco.com
      Dan Symons, Manager, Investor Relations
Phone: 416-367-5500
E-mail: dsymons@romarco.com

Renmark Financial Communications Inc. 
Maurice Dagenais 514-939-3989 or via e-mail at mdagenais@renmarkfinancial.com

 

Profil de l'entreprise

ROMARCO MINERALS INC.

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