Romios Reports Exceptional Assays up to 78.2 g/t Au and 574 g/t Ag and Expands Footprint of Possible Porphyry Centres at the Kinkaid Copper-Gold-Silver Property, Nevada, USA

Rhea-AI Summary

Romios Gold Resources Inc. (TSXV: RG) (OTC Pink: RMIOF) reports exceptional assays and expanded footprint of potential porphyry centers at its Kinkaid property in Nevada. Highlights include:

1. Honeycomb Hill: Expanded to >450 x 450 m area with assays up to 26.96 g/t Au, >10% Cu, and 574 g/t Ag.

2. Montreal Au-Ag mine: Discovered mineralized outcrop 150 m west, assaying 1.62% Cu, 11.3 g/t Ag, and 0.49 g/t Au.

3. PM skarn: Found gold-bearing quartz veins, supporting epithermal overprint theory.

4. KIN claims: Located numerous copper-rich boulders, suggesting nearby sedimentary targets and shallow pluton.

These results support Romios' model of multiple porphyry Cu-Au-Ag centers with high-grade epithermal to mesothermal veins overlay.

Positive

• Exceptional assays up to 78.2 g/t Au and 574 g/t Ag at Honeycomb Hill
• Expanded footprint of potential porphyry centers at Kinkaid property
• Discovery of mineralized outcrop at Montreal Au-Ag mine, assaying 1.62% Cu, 11.3 g/t Ag, and 0.49 g/t Au
• Gold-bearing quartz veins found at PM skarn, supporting epithermal overprint theory
• Numerous copper-rich boulders located on KIN claims, suggesting nearby sedimentary targets

Negative

• None.

Toronto, Ontario--(Newsfile Corp. - August 27, 2024) - Romios Gold Resources Inc. (TSXV: RG) (OTC Pink: RMIOF) (FSE: D4R) ("Romios Gold" or the "Company")  is pleased to report that a recent field program on Romios' Kinkaid property in Mineral County, Nevada, has returned numerous high-grade gold, silver and base metal assays, and expanded the apparent footprint of at least two of the postulated porphyry Cu-Au-Ag centres on the property.

HIGHLIGHTS

• At Honeycomb Hill, the apparent porphyry copper centre and overlying epithermal to mesothermal base and precious metal rich vein system has now been expanded to an area >450 x 450 m with the discovery of numerous historic mineralized trenches and adits that returned assays from 1.31 to 26.96 g/t Au, 1.55% to >10% Cu, and 1.0 to 10.4 g/t Ag.
• Sampling of the ore veins inside the main workings at Honeycomb Hill confirmed the very high silver content of the galena, 574 and 189 g/t Ag, with gold values of 0.26 and 3.45 g/t Au. A nearby dump sample of fairly non-descript quartz vein material returned the highest gold values to date on the project, 78.16 g/t Au.
• Mapping around the 500 m long, historic Montreal Au-Ag mine workings located an important mineralized outcrop laced with actinolite, epidote, biotite and copper bearing veins, 150 m to the west of the mine, significantly expanding the footprint of the suspected porphyry system. This alteration is believed to be part of the deeper alteration zones of a porphyry copper system and assayed 1.62% Cu, 11.3 g/t Ag and 0.49 g/t Au.
• The suspected epithermal mineralization overprint on the historic PM mine skarn system has been further supported by the discovery of quartz veins that assayed 10.6 g/t Au and a zone of chalcedonic quartz that assayed 0.79 g/t Au.
• Work on the adjacent KIN claim block located numerous copper-rich boulders of conglomerate and garnet-epidote skarns, making the nearby sedimentary horizons a prime target and suggesting that the source pluton for this mineralization may be at relatively shallow depths.

Stephen Burega, President and CEO of Romios, stated: "These are exceptional results, and we continue to build support for Romios' Kinkaid model of multiple porphyry Cu-Au-Ag centres overlain by high-grade epithermal to mesothermal veins and high-level sericite alteration zones. We have now substantially expanded the footprint of the Honeycomb Hill and Montreal Mine centres as well as adding more proof of an epithermal gold-silver overprint on the PM skarn site, all with a low-cost, boots on the ground approach."

Target Details

The 139 Kinkaid and adjacent KIN claims cover approximately 11.0 sq km in Mineral County, 18 km east of the town of Hawthorne, and are largely accessible by road. Romios personnel undertook a low-cost, week-long exploration program here in June 2024 to follow-up on the 2023 discovery of high grade Cu-Au boulders on the new KIN claims; to explore the area around several of the postulated porphyry and skarn centres; and to assess the significance of sericite anomalies detected by a recent Short Wave Infrared Satellite Imagery (SWIR) satellite image study of the property. The results of this work are described in more detail below; all pertinent assay results are listed in Table 1 and the target areas are shown on Map 1.

Honeycomb Hill Centre Target:

One of the largest alteration zones on the Kinkaid property, up to 275 m long and 90 m wide, this is now believed to be part of a larger porphyry-related mineralized system ~450 x 450 m that is partially overlain by younger volcanics.

• Eight additional adits and trenches were located in this broader zone in 2024, in addition to the 6 shafts and adits previously known. It is believed that the historic mining here targeted silver-rich galena veins.
• Romios' samples not only returned high silver assays but moderate to very-high gold values as well: the four samples with even minor sulphides assayed up to 78.16 g/t Au, 574 g/t Ag and 2.3% Cu, with locally high values in mercury, up to 13,250 ppb Hg; antimony, up to 650 ppm Sb; arsenic, up to 2,981 ppm As; and up to 86.6 ppm tellurium (see Table 1 for results of all 4 samples).
• Two galena rich samples assayed 3.96% and >10% Pb. A 30 x 50 cm panel chip sample of the altered but vein-free host rocks outside one adit assayed 0.13% Pb, 41 ppm Sb, 707 ppm As, and 443 ppb Hg, indicating that broad areas of the discoloured, friable, altered host rocks are weakly mineralized.
• A series of old trenches newly discovered 400 m NW of Honeycomb Hill mine workings also returned impressive assays, 1.31 to 26.96 g/t Au, 1.55% to >10% Cu and 1.0 to 10.4 g/t Ag as well as high mercury in one sample: 5,098 ppb Hg (see Photo 1). These results have significantly expanded the footprint of this apparent porphyry centre.

Although the samples were mainly collected from relatively narrow veins and dump samples left behind by the historic miners, the suite of elements in these latest assay results suggest that these veins are part of an epithermal to mesothermal vein and pervasive alteration system (see Photo 3) that likely overlies a magmatic source, believed to be a porphyry copper system.

The general zonation from silver rich samples at Honeycomb Hill to the more gold and copper rich mineralization at the trenches 400 m NW is to be expected in the metal zonation around the top of porphyry-epithermal systems.

Photo 1: Sample B994732 from the newfound trenches 400 m NW of Honeycomb Hill. Assayed 26.96 g/t Au, 10.4 g/t Ag, >10% Cu.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5376/221207_15de8ecf94bea8fe_002full.jpg

KIN Claims:

Initial work in May 2023 in this area returned high-grade copper +/- gold values up to 13.3% Cu and 12.7 g/t Au from a series of boulders of uncertain origin along a dry creek bed (see Romios press release October 12, 2023). Follow-up mapping and prospecting in June 2024 located numerous additional, visibly well mineralized boulders along the same creek.

Of special note is that the new copper-rich samples include conglomerates and obvious skarn-type rocks (Photo 2). These samples have now shifted the target for the next work phase to a series of nearby sedimentary units. Such well developed and mineralized skarn boulders indicate that there must be skarn outcrops nearby and that the pluton responsible for the skarns may be at a relatively shallow depth.

Photo 2: Epidote-garnet skarn boulders stained with secondary copper minerals (mainly chrysocolla), KIN claims.

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https://images.newsfilecorp.com/files/5376/221207_15de8ecf94bea8fe_003full.jpg

Montreal Gold-Silver Mine Target:

This 500 m long series of old stopes, adits and trenches was mined for gold and silver in the early 1900s and is the largest historic mining operation on the Romios claims. The old workings are developed in a broad, north east trending, highly sericitic, friable zone(s).

• The intense sericite alteration is typical of most of the mineralized prospects on the Kinkaid property and forms a prominent anomaly 50 m wide and 500 m long on SWIR satellite imagery (see Romios press release June 13, 2024).
• Further evidence of a porphyry-type system is seen on lower ground 150 m west of the workings in the form of a large, well mineralized outcrop with abundant actinolite veins, epidote-biotite alteration selvages and copper mineralization.
• A typical sample of the vein material assayed 1.62% Cu, 11.3 g/t Ag and 0.49 g/t Au, with elevated mercury (1,345 ppb Hg) values. Sericite alteration and mineralized Cu-Au-Ag veins can be expected near the top of typical porphyry copper type systems and give way at depth and inwards to a series of sodic-calcic and potassic alteration haloes around the main Cu-Au-Ag zone, including an actinolite sub-zone.
• This discovery of the well mineralized outcrop with actinolite, biotite and epidote alteration is considered highly supportive for the porphyry model being pursued on the Kinkaid property. The area west of this outcrop is covered by younger, largely flat-lying volcanics that likely obscure the full extent of the system.

PM Skarn Target:

Located in the northernmost Kinkaid claims, the PM skarn is one of three skarns spread over 1.4 km and believed to have formed around the periphery of a metamorphic aureole related to an underlying granitoid intrusion. The historic PM skarn mine is a 150 m long series of shafts, adits and pits developed in garnet skarns and mined for gold prior to World War II. Romios' mapping in 2023 identified a 40 m wide skarnified horizon near the old workings, a unit which provides a potential host for extensive mineralization at depth closer to the source intrusion.

A typical sample from a small stockpile of silver-rich iron carbonate vein material at one adit assayed 55 oz/t Ag, 0.25% Sb, 6.9% Zn, 0.4% Cu, and 495 ppm Hg in Romios' 2021 sampling (see Romios press release March 10, 2022), indicating that there is likely an epithermal vein system overprinting the skarnified area.

For the first time in Romios' work, the 2024 samples returned significant gold values from the PM site: a sample of several small parallel quartz veins assayed 10.6 g/t Au as well as 177 ppm molybdenum, and a representative sample of a patch of apparently "low-temperature", chalcedonic quartz assayed 0.79 g/t Au. The discovery of these gold-bearing quartz veins/floods supports the postulated epithermal overprint on the PM skarn.

Table 1: Assays of samples pertinent to this release. (Cu and Pb are in ppm unless stated as %).

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https://images.newsfilecorp.com/files/5376/221207_15de8ecf94bea8fe_004full.jpg

Map 1: Kinkaid Project claim outlines and apparent porphyry centres.

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https://images.newsfilecorp.com/files/5376/221207_15de8ecf94bea8fe_005full.jpg

Photo 3: Pervasive, discoloured, sericitic, iron stained alteration at Honeycomb Hill.

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https://images.newsfilecorp.com/files/5376/221207_15de8ecf94bea8fe_006full.jpg

Background

The Kinkaid property now consists of 139 claims, covering approximately 11.0 sq km, located 18 km east of the town of Hawthorne where the prolific Walker Lane trend overlaps the southern edge of the mineral-rich Basin and Range geological province. The claims are largely accessible by road and short hikes and are wholly owned by Romios.

For more information, please click here for Romios' website.

Qualified Person

The technical information in this news release has been reviewed and approved by John Biczok, P. Geo., Vice President, 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.

QA/QC

All samples were submitted to the Standards Council of Canada ISO/IEC 17025:2017 accredited Bureau Veritas laboratory in Reno, Nevada for assay. As a matter of procedure, a rigorous quality assurance and quality control program was implemented in the form of blanks and Certified Reference Material standards at every 10th position in the sample series. The assay results of these standards and blanks were well within the acceptable ranges.

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/221207

FAQ

What were the highest gold and silver assays reported by Romios Gold Resources (RMIOF) at the Kinkaid property?

The highest reported assays at the Kinkaid property were 78.2 g/t Au and 574 g/t Ag, found at the Honeycomb Hill area.

How large is the expanded footprint of the Honeycomb Hill mineralized area on Romios Gold's (RMIOF) Kinkaid property?

The Honeycomb Hill mineralized area has been expanded to cover an area greater than 450 x 450 meters.

What significant discovery was made near the Montreal Au-Ag mine on Romios Gold's (RMIOF) Kinkaid property?

A mineralized outcrop was discovered 150 meters west of the Montreal Au-Ag mine, assaying 1.62% Cu, 11.3 g/t Ag, and 0.49 g/t Au, expanding the footprint of the suspected porphyry system.

What new evidence supports the epithermal overprint theory at the PM skarn target on Romios Gold's (RMIOF) Kinkaid property?

Gold-bearing quartz veins were discovered at the PM skarn target, with one sample assaying 10.6 g/t Au, supporting the theory of an epithermal overprint on the skarn system.