Romarco executes US$200 million project finance credit agreement with four lenders

TORONTO, April 10, 2015 /CNW/ - ROMARCO MINERALS INC. (TSX: R) (the "Company") is pleased to announce that the Company, through its subsidiary Haile Gold Mine, Inc., has signed a credit agreement (the "Credit Agreement") with Caterpillar Financial Services Corporation, ING Capital LLC, Macquarie Bank Limited, and Société Générale Corporate & Investment Banking (together the "Lenders") with respect to its previously announced US$200 million senior secured project finance facility (the "Debt Facility") with no mandatory gold hedging. The Debt Facility will be used for the development of the Haile Gold Mine project in South Carolina.  With the execution of the Credit Agreement, the Haile Gold Mine project as currently proposed is fully financed.  All dollar amounts are in US dollars unless otherwise stated.

Debt Facility

The Debt Facility is comprised of two Tranches: a $180 million project facility ("PF") maturing June 30, 2022, and a $20 million cost overrun facility ("COF") maturing September 30, 2023, if drawn.  Advances under the PF will bear interest at LIBOR plus 3.75% to 4.25% and advances under the COF, if any, will bear interest at LIBOR plus 6.25%.  The terms of the Debt Facility are substantially the same as previously disclosed in the News Release dated April 2, 2015.

Diane Garrett, President & CEO commented: "We are pleased to have executed the Credit Agreement for the $200 million Debt Facility with no mandatory gold hedging.  We appreciate the support and confidence of each of the four Lenders and are looking forward to breaking ground and initiating full construction in May 2015, with construction scheduled for 18 months."

Under the Debt Facility, Caterpillar Financial Services Corporation is acting as Insurance Agent, Macquarie Bank Limited is acting as Technical Agent and Société Générale Corporate & Investment Banking is acting as Administrative and Documentation Agent.

The Company was advised by Cutfield Freeman & Co Ltd (Financial Adviser), and Shearman & Sterling LLP (Project Finance Counsel) and Blake, Cassels & Graydon LLP (Canadian Counsel). The Lenders are being advised by Allen & Overy LLP (Lenders' Counsel).

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, received all major permits and secured financing commitments for its flagship project, the Haile Gold Mine in South Carolina.  The Company's current construction schedule contemplates first production during the fourth quarter of 2016.

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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.

Romarco Minerals Inc., Dan Symons, Vice President, Business Development & Investor Relations, Phone: [phone], E-mail: [email protected]