Royal Standard Minerals Inc.: Goldwedge Project Progress, Nye County, Nevada
Royal Standard Minerals Inc. (TSX VENTURE: RSM) (OTCBB: RYSMF) (“RSM”)
The installation of the various components within the plant, as reported in a previous press release dated February 8th, 2007, have been installed to include the water handling system to the plant. The plumbing and electrical work for all of the various components will be completed in a few days. The testing of the plant is expected to start this week with a water flow test into the system that will identify potential problem areas within the plant that will require water balancing. This effort should not take more that 2-3 days. Subsequently the Company will commence the processing of stockpiled material through the plant. Currently, there is more than a four (4) month supply of stockpiled gold mineralized material that will be processed through the plant.
The Company has completed a ground magnetics program of the Goldwedge property that has included the Manhattan caldera margin. These data are currently being processed with the objective of more clearly resolving deep geoghysical targets near the intersection of the Reliance and Manhattan fault systems that have been identified in the regional geophysical data. The ground magnetics program will improve the resolution of the deep target(s) that will be drill tested to determine the potential for a sub-volcanic intrusive source for the gold system at Goldwedge.
The Company is considering a stock buyback, Normal Course Issuer Bid, program utilizing some of the proceeds from the gold production at the Goldwedge project. If achieved, the Company would like to commence this program in April, 2007, subject to all of the regulatory approvals.
Due to issues in regard to auditor workload it is unlikely that the audit can be completed in time for an earlier annual meeting, the Company has had to set the annual meeting for June 26, 2007 instead of the previously announced May 29, 2007 date.
Drilling contractors are submitting bids for drilling programs to include underground and surface drilling at Goldwedge and surface drilling on the Railroad copper prospect located in Elko County, Nevada.
The Canadian Venture Exchange does not accept responsibility for adequacy or accuracy of this release as per Exchange Policy 3.3 section 6.5.
Royal Standard Minerals cautions that the statements made in this press release and other forward looking statements made on behalf of the Company may be affected by such other factors including, but not limited to, volatility of mineral prices, product demand, market competition, imprecision of mineral estimates, and other risks detailed herein and from time to time in the Securities and Exchange Commission filings of the Company.
C.U.S.I.P. # 780919106
Contacts: Royal Standard Minerals Inc. Roland Larsen qualified person, NI-43-101 775-487-2454 775-487-2460 (FAX) RoyalStandardMinerals.com
SOURCE: Royal Standard Minerals Inc.