Royal Roads regains 100% ownership of its Burtons Pond gold property, Newfoundland

Royal Roads Corp. announce that the Burtons Pond gold property ownership has reverted back 100% to Royal Roads. In December 2004 Buchans River Ltd. entered into a joint venture agreement which would enable Prominex Resource Corp. to earn a 70% interest in the Property by fulfilling certain obligations. Under the terms of the agreement, Prominex was required to make cash payments totaling $35,000, issue common shares totaling 400,000, and incur exploration expenditures totaling $625,000 over a four year period. All cash payments and share issuances were made, however Prominex did not fulfill the required exploration expenditures. The Property was acquired by Royal Roads through the amalgamation with Buchans River in July 2008.

Management is reviewing the Property’s gold potential and gold exploration in the region by other companies with the view to formulating a go forward plan for the Property.

The Burtons Pond gold property is located in the historic Betts Cove area of north-central Newfoundland and Labrador covering 7.25 km(2) (725 hectares). The Property covers a portion of the Betts Cove Ophiolite Complex, an Ordovician mafic-ultramafic suite and is host to the Burtons Pond Prospect, a gold-copper-rich, quartz-calcite stockwork vein system. Gold potential of the Property is highlighted by assays of up to 10.2 grams per tonne gold, 15.2 grams per tonne silver and 1.64% copper over 3.0 metres in drill core reported by previous operators in the 1980s.

The Betts Cove Ophiolite Complex hosts two historical, former-producing, massive sulphide deposits at Tilt Cove and Betts Cove, as well as the former Nugget Pond gold mine which operated between 1997 and 2001. The Tilt Cove mine produced 8,160,000 tonnes of ore grading 1 to 12% copper, including 42,425 ounces of gold. The Betts Cove mine produced approximately 118,500 tonnes of ore averaging about 10% copper. The former Nugget Pond Mine, located 7 kilometres to the northeast, produced approximately 489,000 tonnes of ore containing approximately 168,700 ounces of gold, for an average production grade of 10.74 grams per tonne.