Romios Announces Closing of $307,252 Non-Brokered Offering

October 30, 2023 (Source) — Romios Gold Resources Inc. (TSXV: RG) (OTCQB: RMIOF) (FSE: D4R) (“Romios” or the “Company“) is pleased to announce that, further to its Press Release of September 18, 2023, it has closed its non-brokered private placement with the sale of 4,266,699 flow-through units (the “FT Units“) and 5,975,033 working capital units (the “WC Units“) for gross proceeds of $307,251.96 (the “Offering“).

Each FT Unit is priced at $0.03 and consists of one (1) common share and one-half (0.5) share purchase warrant (a “FT Warrant”). Each full FT Warrant entitles the holder to purchase one (1) common share (a “FT Warrant Share“) at a price of $0.05 per FT Warrant Share until October 27, 2025.

Each WC Unit is priced at $0.03 and consists of one (1) common share and one (1) share purchase warrant (a “WC Warrant”). Each WC Warrant entitles the holder to purchase one (1) common share (a “WC Warrant Share“) at a price of $0.05 per WC Warrant Share until October 27, 2025.

Accilent Capital Management Inc. was paid $3,500.07 in cash and issued 116,669 compensation warrants (“Compensation Warrants“). Each Compensation Warrant entitles the holder to acquire one (1) common share of the Company at a price of $0.05 per share until October 27, 2025.

Funds will be used for exploration of the numerous Copper-Gold-Silver prospects at the Company’s ‘Golden Triangle’ Properties in northwestern British Columbia, including the Trek South Property located along the southern border of the giant Galore Creek project co-owned by Newmont and Teck, as well as its Lundmark-Akow Lake Au-Cu property in Ontario and its Kinkaid Gold-Silver-Copper property in Nevada, and for working capital. All securities issued under the Offering are subject to a statutory hold period expiring on February 28, 2024.

Insiders of the Company subscribed for 2,199,999 FT Units for $65,999.97 and 875,000 WC Units for $26,250 under the Offering, for aggregate participation of $92,250. The insider private placements are exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 (“MI 61-101“) by virtue of the exemptions contained in sections 5.5(a) and 5.7(1) (a) of MI 61-101 in that the fair market value of the consideration for the securities of the Company which were issued to the insiders does not exceed 25% of its market capitalization.

Update on Honey Badger Silver/Romios Gold Resources Agreement

In response to the increasing interest in silver projects in recent years, in 2020 Romios staked 5 historic silver prospects comprising 87 claims over 1,853 Hectares in the Thunder Bay silver camp (the “Thunder Bay Silver Claims”). In the late 1800s-early 1900s, the Thunder Bay area was home to dozens of silver mines, including the famous Silver Islet mine which produced 2.87 million ounces of silver, and there has been very little work on many of these sites since that time. The Thunder Bay Silver Claims cover three prospects with old mine workings – the Lily of the Valley, Victoria and the Federal/Copeland mines, and two more grass-roots prospects with reported silver occurrences — the Cariboo and Cloud Bay claims.

After a brief field examination in 2020, the strategic decision was made in early 2021 to sell an 80% interest in these claims to Honey Badger Silver Inc. in return for $150,000 worth of Honey Badge shares. (See Press Release — June 10, 2021) Honey Badger has extensive silver claim holdings in the Thunder Bay area and in 2022 they undertook basic prospecting and mapping programs on the Thunder Bay Silver Claims acquired from Romios. Honey Badger has subsequently acquired major silver projects in Yukon and the NWT and on October 17^th, 2023 Honey Badger announced their decision to return the Thunder Bay Silver Claims to Romios (See Honey Badger Press Release).

Romios believes that several of the Thunder Bay Silver Claims still have considerable merit and warrant more focussed exploration to trace the veins along strike in an effort to locate jogs in the vein systems where they may “blow out” into wider, more mineralized sections. A program of inexpensive geophysical and geochemical surveys is now under consideration for these projects.

Qualified Person

The technical information in this news release has been reviewed and approved by John Biczok, P. Geo., VP-Exploration for Romios and a Qualified Person as defined by National Instrument 43-101.

About Romios Gold Resources Inc.

Romios Gold Resources Inc. is a progressive Canadian mineral exploration company engaged in precious- and base-metal exploration, focused primarily on gold, copper and silver. It has a 100% interest in the Lundmark-Akow Lake Au-Cu property plus 4 additional claim blocks in northwestern Ontario and extensive claim holdings covering several significant porphyry copper-gold prospects in the “Golden Triangle” of British Columbia. Additional interests include the Kinkaid claims in Nevada covering numerous Au-Ag-Cu workings and two former producers: the Scossa mine property (Nevada) which is a former high-grade gold producer and the La Corne molybdenum mine property (Quebec). The Company also has five claim blocks in the Thunder Bay silver district of northwestern Ontario. Romios Gold retains an ongoing interest in several properties including a 2% NSR on McEwen Mining’s Hislop gold property in Ontario; a 2% NSR on Enduro Metals’ Newmont Lake Au-Cu-Ag property in BC; and the Company has signed a definitive agreement with Copperhead Resources Inc. (“Copperhead”) whereby Copperhead can acquire a 75% ownership interest in Romios’ Red Line Property in BC.

For more information, visit www.romios.com.

As part of our ongoing effort to keep investors, interested parties and stakeholders updated, we have several communication portals. If you have any questions online (Twitter, Facebook, LinkedIn) please feel free to send direct messages.

To book a one-on-one 30-minute Zoom video call, please click here.

For further information, please contact:

Stephen Burega, President and CEO – 647-515-3734 or [email protected]

This News Release contains forward-looking statements which are typically preceded by, followed by or include the words “believes”, “expects”, “anticipates”, “estimates”, “intends”, “plans” or similar expressions. Forward-looking statements are not guarantees of future performance as they involve risks, uncertainties and assumptions. We do not intend and do not assume any obligation to update these forward-looking statements and shareholders are cautioned not to put undue reliance on such statements. TSX Venture Exchange or its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) do not accept responsibility for the adequacy or accuracy of this release.

NOT FOR DISSEMINATION, DISTRIBUTION, RELEASE, OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES