Romarco Plans More Drilling Planned at Haile Gold Mine

SPARKS, NV - Romarco Minerals reported on its 2009 exploration plans and project development schedule for the Haile Gold Mine in South Carolina.
Romarco's initial plan was to drill 22,000 meters in 2009, nearly three times the drilling completed in 2008. However, now the Company is making plans to increase this year's program to 85,000 meters through the addition of a second rig and double shifts on each rig. Two-thirds of the drilling this year will be step-out exploration holes in known mineralized areas adjacent to the deposits. The balance of the drilling will be in-fill to convert measured and indicated resources into reserves.
To date, the Company has focused its exploration in the highly prospective North Resource Area which remains open in three directions and at depth. Feasibility study related mine design has also shown substantial potential targets exist on other areas of the property. These targets are adjacent to the South Pit (to the north and west of the current reserve), the Snake Pit on the east side of the property, mineralized potential at depth, as well as targets identified on the newly acquired land parcels along strike. The current land package hosts 3.2 kilometers of strike length.
A total of 52 holes were drilled in 2008 with assays received and reported for 45 holes to date. Of those 45 holes:

       87% returned more than 3 g/t gold over the mineralized interval
       94% returned more than 1 g/t gold over the mineralized interval
       60% returned more than 30 meters of 2.5 g/t gold
       25% returned more than 30 meters of 4.0 g/t gold

Romarco's recently announced Feasibility Study demonstrated the robust economics of Haile. Optimization of the project will occur over the next quarter after which detailed engineering of Phase 1 (7000 tons per day) shall commence. The success of last year's drilling combined with the team's optimism about future exploration at Haile has prompted the consideration of a Phase 2 (additional 7,000 tons per day) process facility.
The development plan is to commence detailed engineering concurrently with securing the remaining permits. Coincident with obtaining permits, plant construction will start early in the second quarter of 2010 with project completion targeted for mid-year 2011. Even after gold production begins at Haile, the Company anticipates exploration drilling to continue for several years.
The Feasibility Study was based on a proven reserve of 7.3 million tonnes averaging 2.52 g/t gold and a probable reserve of 10.5 million tonnes averaging 2.05 g/t gold. The combined proven and probable reserve as of October 2008 is 1.3 million ounces of gold at 2.24 g/t. The corresponding gold resource that formed the basis for the reserve and feasibility study is detailed in the table below. A cutoff grade of 0.514 g/t gold was used for resource. The measured and indicated resource increased by 2.22 million tonnes from the last reported estimate due to inclusion of assays from six additional drill holes. This resulted in an increase in the proven and probable reserve as well as an increase in grade from 1.97 g/t to 2.24 g/t.
The company’s address is 997 Greg Street, Sparks, NV 89431, (775) 355-1900, fax: (775) 355-1907.