Trading Symbol: RRO - TSX-V
Shares Outstanding: 112,127,490
HALIFAX, July 31 /CNW/ - Royal Roads Corp. (RRO-TSX-V) ("Royal Roads") is
pleased to announce that following the completion of the business combination
with Buchans River Ltd. ("Buchans") by way of the court approved plan of
arrangement, Royal Roads' directors and officers have changed and the board is
now comprised of Warren MacLeod, William Felderhof, David Felderhof, Edmund
Merringer, Steven Poad, Terry Coughlan and William Rogers.
John Rawding and Scott Harkness resigned from the board of directors of
Royal Roads effective July 30, 2008 and were replaced by Terence Coughlan and
William Rogers, both of whom are also currently serving on the board of
directors of Buchans. Mr. Coughlan is also a director of Acadian Mining
Corporation (ADA-TSX) ("Acadian"), which owns approximately 29% of the common
shares of Royal Roads, and Mr. Rogers is the Chief Operating Officer of
Acadian. Mr. Rawding remains with Royal Roads in his capacity as Chief
Financial Officer and Mr. Harkness was appointed Assistant Corporate Secretary
of Royal Roads. Steven Poad was also appointed to the board of directors of
Royal Roads effective July 30, 2008. Mr. Poad is also a director of Buchans
and is the Chief Financial Officer for High River Gold Mines Ltd. Both
Messrs. Poad and Merringer are independent members of the board of directors
of Royal Roads.
About Royal Roads
Royal Roads and its wholly owned subsidiary Buchans River are resource
companies based in Halifax, Nova Scotia, Canada and are focused on exploring
and developing base metal properties in the famous Buchans and Victoria Lake
mining camp in central Newfoundland and Labrador, Canada. Together, Royal
Roads and Buchans River control a total of 33,700 hectares within central
Newfoundland and Labrador's Buchans and Victoria Lake mining camps, including
the historic Buchans mine (owned by Buchans River) and the Daniels Pond
deposit (owned by Royal Roads). Buchans River also controls several
exploration properties outside of the Buchans camp, including several under
joint venture to Prominex Resource Corp. (PXR - TSX-V) and Playfair Mining
Ltd. (PLY - TSX-V), which are being actively explored. Royal Roads is 29.18%
controlled by Acadian Mining Corporation, a Halifax based resource company
developing gold and base metal properties, including the Scotia Mine (lead and
zinc) in Nova Scotia.
Forward Looking Statements
Certain information regarding the Royal Roads contained herein may
constitute forward-looking statements within the meaning of applicable
securities laws. Forward-looking statements may include estimates, plans,
expectations, opinions, forecasts, projections, guidance or other statements
that are not statements of fact. Although Royal Roads believes that the
expectations reflected in such forward-looking statements are reasonable, it
can give no assurance that such expectations will prove to have been correct.
The company cautions that actual performance will be affected by a number of
factors, many of which are beyond Royal Roads' control, and that future events
and results may vary substantially from what both companies currently foresee.
Royal Roads' forward-looking statements are expressly qualified in their
entirety by this cautionary statement.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Warren G. MacLeod, President & CEO of Royal
Roads; David Felderhof, Vice-President of Royal Roads, (902) 444-3637