Romarco increases land position at Haile

TRADING SYMBOL: TSX: R

TORONTO, Jan. 19 /CNW Telbec/ - ROMARCO MINERALS INC. (TSXV: R) (the "Company") is pleased to announce the acquisition of additional property along the mineralized trend at the Haile Gold Mine in South Carolina. The new property increases Romarco's land position by 53%. The Company now controls 7 kilometers of strike length along the Haile mineralization corridor (not including Buzzard).

The Company has also increased its land ownership in the Buzzard area by an additional 396 acres. The total land package now owned 100% by Romarco is 3,217 acres. All land is private land and there are no royalties on any of the land parcels. The Company currently has US$40 million in cash (after land purchases) and no debt. All land purchases were arms length transactions with private land owners independent of Romarco and the Haile Gold Mine.

Including the original acquisition of the Haile Gold Mine in October 2007, Romarco has spent a total of US$10 million on land. The average price paid per acre is US$3,145.

Land was purchased from David Tucker Timber Co., Harold F. Gardner and Margaret P. Hinson in the Buzzard area and from Jim Lineberger, Frederick & Rebecca Faulkenberry, Theron C. Hegler and James W. Mahaffey in the Haile Gold Mine area.

    
    About Romarco Minerals Inc.
    ---------------------------
    

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 in the advanced exploration stage.

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

-------------------------------------------------------------------------

"Neither the TSX Venture nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release"

SOURCE Romarco Minerals Inc.

For further information: For further information: Romarco Minerals Inc.: Diane Garrett, President and CEO, (210) 621-4200, dgarrett@romarco.com; Victoria Vargas, V.P., Investor Relations, (416) 367-5500, vvargas@romarco.com; Renmark Financial Communications Inc.: Dan Symons, (514) 939-3989, dsymons@renmarkfinancials.com

Organization Profile

Romarco Minerals Inc.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890