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Press release from CNW Group

Romarco announces 2012 second quarter results

Tuesday, July 31, 2012

Romarco announces 2012 second quarter results18:03 EDT Tuesday, July 31, 2012TORONTO, July 31, 2012 /CNW/ - ROMARCO MINERALS INC. (TSX: R) (the "Company") is pleased to announce that it has released its results for the second quarter ended June 30, 2012.  The Company's 2012 second quarter financial statements and MD&A are available on SEDAR at and on the Company's website at  All dollar amounts in this news release are expressed in U.S. dollars, unless otherwise noted.Highlights from the results include:Cash balance at June 30, 2012 was $83.6 million.Received Environmental Impact Statement ("EIS") schedule from the US Army Corps of Engineers ("Corps") pertaining to the Federal 404 Wetlands permit.Extended key contracts to re-align equipment deliveries and payments for the development of Haile Gold Mine.Extended Financial Adviser mandate with Barclay Bank PLC with the aim of securing project debt financing for a significant portion of the funds to construct and commission Haile Gold Mine's future mining and processing operations.The Company modified its mine facilities layout to avoid direct impacts to a significant amount of wetlands and streams.Reduced 2012 exploration drilling in an on-going effort to conserve cash.Increased controlled land position to 11,258 acres (4,556 hectares).Detailed project engineering was approximately 51% complete at June 30, 2012.Reported $3.1 million ($0.01 per share) net loss for the three months ended June 30, 2012.About Romarco Minerals Inc.Romarco Minerals Inc. is a gold development company engaged in the acquisition, exploration and development of precious metals mineral properties.  The Company has completed a positive Feasibility study and is continuing exploration and permitting for its flagship project, the Haile Gold Mine in South Carolina.TRADING SYMBOL: TSX: RSOURCE: ROMARCO MINERALS INC.For further information: Romarco Minerals Inc.  Dan Symons, Vice President, Investor Relations Phone: 416-367-5500 E-mail: Renmark Financial Communications Inc.  Maurice Dagenais 514-939-3989 or via e-mail at Please note: This entire press release may be accessed via fax, e-mail, Romarco's website at and through CNW Group's website at All material information on Romarco Minerals Inc. can be found at