Further Positive Results From Exploratory Drilling At The Caribe Gold Discovery

TORONTO - Royal Road Minerals Limited reported further interim drilling results from its Caribe gold discovery in northeastern Nicaragua. The Caribe project forms a part of the Strategic-Alliance agreement with Hemco Mineros Nicaragua, and is located in the "Golden Triangle" of northeastern Nicaragua. Royal Road's exploration team discovered the Caribe project during reconnaissance exploration of 2018. Outcrop at Caribe is concealed under soil and laterite cover and there is no previous record of mining or mineralization in the area. In 2019, Royal Road and Hemco completed an initial 4-hole, exploratory drilling program at Caribe which returned promising results for gold. A follow-up diamond drilling program commenced at the project during August of last year and has returned encouraging initial results including CB-DDH-016, 100.45 meters at 1.0 gram per tonne; CB-DDH-017, 90 meters at 1.0 gram per tonne and CB-DDH-015, 63 meters at 1.0 gram per tonne gold. Results for a further 3 exploratory drill holes have now been returned. Significant results include: CB-DDH-021 29 meters at 1.0 gram per tonne gold; CB-DDH-022 12 meters at 1.2 grams per tonne gold (within a broader halo of 44 meters at 0.7 grams per tonne gold); and CB-DDH-023 10.1 meters at 1.85% Copper equivalent.