Royal Road Secures Title Grant and Advances Drilling Under Option Agreement, GAM Project, Colombia

Core Viewpoint - Royal Road Minerals Limited has successfully converted its mining concession application into a granted Mining Concession Contract for the Chuscalita Title, marking a significant milestone for the company [1][7]. Group 1: Mining Concession Details - The Chuscalita Title has an initial term of 30 years, in accordance with Colombian mining law [1]. - Royal Road has made a USD$150,000 payment to the titleholders, fulfilling a condition under the previously disclosed Option Agreement [1][2]. - The company had previously made a USD$100,000 option payment as part of the Option Agreement [2]. Group 2: Option Agreement and Financial Terms - Royal Road can acquire an 80% interest in the Chuscalita Title by making a one-time cash payment of USD$1,125,000 [3]. - The remaining 20% interest held by titleholders will be free-carried until a successful feasibility study is completed, after which it will convert to a 2% net smelter returns royalty on metals extracted [3]. Group 3: Exploration Potential - The Chuscalita Title is strategically located adjacent to Royal Road's existing Güíntar landholding and is believed to extend the mineralized trends from the Güíntar Project [4]. - The company is integrating the Chuscalita Title into its district-scale geological model and advancing drilling as part of its ongoing exploration program [6]. Group 4: Company Overview - Royal Road Minerals Limited is a mineral exploration and development company with operations in Colombia, Saudi Arabia, and Morocco [8][9]. - The company aims to discover and develop large-scale copper and gold deposits while minimizing environmental impact [9].