SPARKS, NV, April 14 /CNW Telbec/ - ROMARCO MINERALS INC. (TSXV: R) (the
"Company") Further to its press release of April, 9, the Company today
announces that the Board of Directors has decided to re-set the price of the
options granted to a number of Directors, Management and employees. The
options were originally priced at C$0.55, the closing price the trading day
prior to the date of grant (April 6, 2009). However, in light of the move in
the Company's stock price on April 9 after receiving and releasing drilling
results, the Board has determined to price these options at C$0.65, the
closing market price on April 13, 2009.
Diane Garrett, CEO of the Company, said "We believe the share price
remains undervalued relative to the value of the Haile Gold Mine demonstrated
in the recent feasibility study. We are very pleased that the market is
responding favorably to the successes that have been accomplished over the
past 15 months since acquiring the project. The entire team is committed to
further enhancing the value of the Haile Mine for our shareholders. The
significant drill program underway of 85,000 meters (250,000 feet) with four
drill rigs is a clear indication of what management and the technical team
believes is a gold district with more potential than has been delineated to
date. The Company continues to grow its land position and will soon be
expanding its technical team on site. The technical team will assess the
regional exploration potential and advance the detailed engineering phase of
the development plan.
The Board granted 3,000,000 options to Directors, Management and
employees at an exercise price of C$0.65 per share. The options will expire
April 6, 2014.
Romarco Minerals Inc. is a gold development company focused on production
in the US and Mexico. The Company's flagship project is the Haile Gold Mine in
South Carolina which is currently undergoing exploration drilling, bankable
feasibility study and permitting. The Pinos Gold District in Mexico is a high
grade epithermal vein district that is in the advanced exploration stage.
ON BEHALF OF ROMARCO MINERALS INC.
"Diane R. Garrett"
Diane R. Garrett,
President & CEO
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.
For further information:
For further information: Diane Garrett, President and C.E.O. at (210)
621-4200 or Shirene Urton, at (775) 355-1900; Renmark Financial Communications
Inc.: Dan Symons: firstname.lastname@example.org; Christine Stewart:
email@example.com; Media - Vanessa Napoli:
firstname.lastname@example.org; Montreal: (514) 939-3989, Fax: (514) 939-3717;
Toronto: (416) 644-2020, Fax: (416) 644-2021; www.renmarkfinancial.com