Goldwedge Project Progress, Nye County, Nevada And Other News
via COMTEX
May 21, 2007
MANHATTAN, NEVADA, May 21, 2007 (MARKET WIRE via COMTEX News Network) --
Royal Standard Minerals Inc. ("RSM")(TSX VENTURE: RSM) (OTCBB: RYSMF). Plant operations at Goldwedge have indicated steady progress since late April, 2007 and regular improvements with level of plant throughput of stockpiled material. The Company is making preparations to have a gold pour before the end of May, 2007.
RSM has started a surface drilling program at Goldwedge with the first drill hole to test the down plunge, untested portion of the gold system toward the northwest. This drill hole is also designed to test the relationships between the large magnetic anomaly and the structures that host the gold system. The work is expected to yield important information regarding the depth extent of the gold mineralization in this area and the possible source of the gold system.
The Company is in discussions with a major international bank with the intent of obtaining up to a US $50 million senior secured loan facility. The final terms and conditions are subject to management/director and bank approvals.
At the Fondaway Canyon gold property, the Company has decided to pursue the evaluation of an existing heap leach pad on the property. RSM's environmental consultant will be involved with obtaining a permit to drill test the former Tenneco Minerals heap leach pad. If test results are positive RSM will make plans to re-permit a new leach pad at this site before pursuing the previously proposed underground program.
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
LISTED: STANDARD & POORS
Contacts: Royal Standard Minerals Roland Larsen qualified person, NI-43-101 775-487-2454 775 -487-2460 (FAX) RoyalStandardMinerals.com
SOURCE: Royal Standard Minerals Inc.
Copyright 2007 Market Wire, All rights reserved
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