Royal Roads releases security



    Trading Symbol:  RRO - TSX-V
    Shares Outstanding:  112,127,490

    HALIFAX, Feb. 11 /CNW/ - Royal Roads Corp. (RRO-TSX-V) ("Royal Roads")
announced today that after consultation with counsel, it intends to release
the security interests granted to it by ScoZinc Limited ("ScoZinc"), a wholly
owned subsidiary of Acadian Mining Corporation (ADA-TSX) ("Acadian"), as
security for the $2.3 million loan ("Loan") owing to Royal Roads by Acadian
and ScoZinc. This will assist ScoZinc in structuring a plan of arrangement or
compromise which will be acceptable to all of ScoZinc's creditors and to the
Nova Scotia Supreme Court ("Court") pursuant to the Companies Creditor
Arrangement Act ("CCAA"). Royal Roads will assert a claim as an unsecured
creditor of ScoZinc for the purposes of the CCAA proceedings. The Loan will
remain secured by all of Acadian's other assets, including its five advanced
gold properties.
    On December 1, 2008, Royal Roads announced that it had entered into
formal documentation with Acadian and ScoZinc with respect to advances made by
Royal Roads to Acadian and ScoZinc in the amount of approximately $2.3
million. As security for the Loan, each of Acadian and ScoZinc granted Royal
Roads a first, fixed and floating charge of all of their assets.
    On December 22, 2008, the Court granted ScoZinc a creditor protection
order pursuant to the CCAA. Pursuant to the order, as amended, ScoZinc was
granted creditor protection until March 20, 2009. This protection may be
further extended at the discretion of the Court. During this time, ScoZinc
will continue to review the various alternatives for the restructuring of its
affairs with the goal of formulating a plan of arrangement or compromise that
will be acceptable to its creditors and to the Court.
    By orders dated December 22, 2008 and December 31, 2008, the Court
authorized ScoZinc to borrow up to $1 million and to provide security
therefor, which security would have a priority charge and security interest in
all of the property of ScoZinc. On January 20, 2009, the Court also granted
certain creditors of ScoZinc an order temporarily lifting the stay order to
permit them to commence an action to challenge the security granted by ScoZinc
to Royal Roads and to Acadian. (See the news releases filed by Acadian on
December 23 and 31 2008 and January 20, 2009 and the news release filed by
Royal Roads on January 22, 2009.)
    (Grant Thornton Limited was appointed by the Court as the Monitor for
ScoZinc's CCAA proceedings. The materials filed to date in the CCAA
proceedings are available on the Monitor's website at www.grantthornton.ca
under the Creditor Updates links.)

    About Royal Road
    ----------------

    Royal Roads is a resource company based in Halifax, Nova Scotia, Canada
and is focused on exploring and developing base metal properties in the famous
Buchans and Victoria Lake mining camps in central Newfoundland and Labrador,
Canada. Royal Roads controls mineral properties totaling 33,700 hectares,
including the historic Buchans mines, the Lundberg deposit in the Buchans camp
and the Daniels Pond deposit in the Victoria Lake camp. The Company also has
joint venture interests on various Newfoundland mineral properties with
Prominex Resource Corp., Playfair Mining Ltd., Benton Resources Corp., and
Golden Dory Resources Ltd.

    Forward Looking Statements
    --------------------------

    Certain information regarding 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.
    %SEDAR: 00008176E




For further information:

For further information: Will Felderhof, President & CEO of Royal Roads,
(902) 444-3637, will@royalroadscorp.ca; David Felderhof, Vice-President of
Royal Roads, (902) 444-3637, david@royalroadscorp.ca

Organization Profile

ROYAL ROADS CORP.

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