Romios Begins Field Work on the Kinkaid Gold-Silver-Copper and Scossa Gold Properties in Nevada, USA

Toronto, Ontario--(Newsfile Corp. - May 18, 2023) - Romios Gold Resources Inc. (TSXV: RG) (OTCQB: RMIOF) (FSE: D4R) ("Romios Gold" or the "Company") is pleased to report that it has commenced its 2023 field program on its two major projects in Nevada: the Kinkaid property in Mineral County which covers dozens of old small-scale but high-grade gold-silver-copper mine workings and prospect pits, and the former producing Scossa gold mine property in Pershing County.

"The goal of the 2023 program at the Kinkaid property is to complete the mapping and sampling program at all of the known occurrences, and to develop a coherent genetic model to tie them all together," stated Stephen Burega, CEO and President. "We should then be able to determine which sites have the greatest size and grade potential and warrant drilling. In addition to the vein type targets, the northern claims host several old, small scale mine sites that exploited skarn-type mineralization (Au-Tungsten?) that will be mapped in detail in an effort to trace the mineralized horizons under cover to their contacts with their source plutons where the mineralization can generally be expected to improve."

The KINKAID property hosts a variety of mineral showings with historic workings including the 500 m long series of the Montreal Ag-Au mine workings, several skarn deposits that were reportedly mined for gold and/or tungsten prior to the mid-1940s, and numerous high-grade copper-gold-silver vein type desposits of unknown extent that do not appear to have been fully evaluated in the past. The Kinkaid property consists of 109 claims covering approximately 9.2 sq km in the Walker Lane trend located 18 km east of the town of Hawthorne.

"To date, we have conducted 2 brief mapping and sampling programs at Kinkaid in late 2021 and early 2022. Perhaps the most surprising result of that work was the abundance of poorly documented, high-grade Cu-Au-Ag prospects on the property," stated John Biczok, VP of Exploration. "At least 7 sets of old mine workings have been located on the ground so far and several more that are visible on satellite imagery remain to be examined during the current program. These former workings exploited epithermal and mesothermal veins and we believe there is tremendous potential to be discovered across the entirety of the Kinkaid project area."

The Company's limited reconnaissance level sampling of outcrops and waste dumps at these numerous sites have returned very impressive assay results (see Romios press releases March 10, June 14, & June 29, 2022). These previously reported results included:

• The main dump at the Montreal Au-Ag mine site returned assays up to 18.85 g/t Au and 7.39% Cu in limited sampling which nevertheless illustrated the association of gold with copper here.
• A 180 m long unnamed, undocumented series of shafts and adits returned assays of 1.04% to 6.59% Cu, 1 to 34 g/t Ag, and 0.3 g/t Au to 17.9 g/t Au from 4 typical samples from these dumps.
• Two undocumented old trenches coated with secondary copper minerals assayed 4.73% - 4.8% Cu and 33.7 - 36.3 g/t Au from a ~40 cm wide example of the quartz veins in one trench and 1.55% - 2.16% Cu and 5.8 - 7.53 g/t Au from one of several quartz veins 8-10 cm wide in a trench 12 m away.
• A 300 m long discoloured area visible on the ground and on satellite imagery was the site of a small-scale mining operation in the past (possibly for barite) and Romios' samples from a 30 cm wide, barite dominant vein here assayed 188 to 212 g/t Silver (6.0 - 6.8 oz/t Ag), 1.98% to 2.5% Cu, and 0.48 to 1.29 g/t Au with elevated bismuth, antimony and mercury values.

"The association of a suite of epithermal style, high-grade Au-Ag +/- Barite-Antimony-Bismuth and Mercury veins with such high copper values is relatively uncommon and may suggest a magmatic component to the mineralization," Biczok continued.

As an aid to this field work Romios has recently:

• Contracted Photosat to undertake a Short Wave Infrared (SWIR) satellite image study of the property to identify the alteration mineral signature of the largest known deposits and then locate other areas with that same signature. A series of new targets has been generated on the property from this work and will be followed up in May.
• Contracted Pioneer Exploration to undertake a drone magnetic survey of the skarn targets on the northern claims. Several intriguing targets were generated from this work as well.

The SCOSSA property is located in NW Nevada about 80 km WSW of Winnemucca. It covers a series of at least 5 epithermal gold veins that were mined in the 1930s and closed in 1941 due to the war.

• Although the veins were relatively narrow, ≤6 feet (1.8 m), they were very rich with an average grade of over 1 ounce/ton Au.
• The veins were mined only to a depth of 400 ft. (120 m) and large sections of the veins were never mined along strike or at depth.
• Similar deposits in the area are typically mined to depths of about 1,200 feet (365 m) suggesting that there should be considerable mineralization potential remaining at depth at Scossa.
• Romios undertook a limited diamond drilling program at Scossa in 2000 and reverse circulation (RC) drill campaigns in 2003 and 2006. These drill programs intersected high-grade gold intervals at shallow levels in 3 holes: 3.35 m @ 180.2 g/t Au, 1.98 m @ 268 g/t Au, and 1.51 m @ 62.49 g/t Au, with 73.4 g/t Ag.

Based on Romios' most recent work on the site, it is believed that the critical boiling zone level of at least one vein has been located at the base of the main Scossa mine hill (see Romios press release March 7, 2022).

"In an epithermal system like this, the gold mineralization would have begun to precipitate at that level and continued upwards for hundreds of metres," stated Biczok. "A recently completed 3D model of the known veins, past drilling, and location of the old mine workings has now identified an untested area down-plunge from the shallow mine workings. Romios believes that the new 3D and geological models have provided compelling shallow-level, potentially very high-grade drill targets," he continued.

The current field work will focus on fine-tuning this model, laying out sites for the next drill campaign, and a detailed examination of the nearby, untested Cinnabar Trench showing. For more information, please click here for Romios' website.

QA/QC

The samples discussed in this document were grab and chip samples considered representative of the outcrops and mineralization being sampled. They were submitted to the ISO/IEC 17025 accredited ALS Canada Ltd. laboratories in Reno, Nevada and Vancouver, BC for gold assay and multi-element analyses. As a matter of procedure, a rigorous quality assurance and quality control program was implemented to ensure reliable assay results by inserting alternating blanks and commercial assay standards at every 10th position in the sample series.

Qualified Person

The technical information in this news release has been reviewed and approved by John Biczok, P. Geo., VP-Exploration for Romios Gold and a Qualified Person as defined by National Instrument 43-101. In addition to his extensive experience with several major mining companies exploring for a wide variety of ore deposit types across Canada and India, Mr. Biczok spent 12 years conducting exploration and research at the Musselwhite gold mine in NW Ontario.

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 retains an ongoing interest in several properties including a 20% carried interest in five of Honey Badger Mining's claim blocks in the Thunder Bay silver district of northwestern Ontario; 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.

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For further information, please contact:

Stephen Burega, CEO & President - 647-515-3734 or sburega@romios.com

John Biczok, P. Geo., VP of Exploration - 613-410-7877 or jbiczok@romios.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/166590