ROYAL STANDARD MINERALS,
INC.
WWW.ROYALSTANDARDMINERALS..COM
SYMBOLS: RSM-TSXV (Toronto
Venture Exchange)
http://finance.yahoo.com/q?s=rsm.v
RYSMF- OTCBB (US
OTCBB)
http://finance.yahoo.com/q?s=RYSMF.OB
Tuesday
November 25, 9:00 am ET
RSM: Status
of Wolfe County, Kentucky
Coal Property
Joint
Venture coal exploration agreement has been completed between Royal Standard
Minerals Inc. and Sharpe Resources Corp.
HEATHSVILLE,
VIRGINIA--(Marketwire - Nov. 25, 2008) - ROYAL STANDARD MINERALS INC.,
"RSM" (TSX VENTURE:RSM - News; OTCBB:RYSMF - News) has
advanced the surface mine coal project in Wolfe
County, Kentucky. The
permitting and bonding for the initial phases of the strip mine are in place
for the Campton coal project. The Company purchased the permit holder Pick
& Shovel, the permit transfer will be made in the near future to Kentucky
Standard Energy Company Inc. ("KSEC") the current (100%) owner of the
permit as indicated in the purchase agreement. The current bond for the first
increment is in the name of KSEC and Pick & Shovel. The next bond increment will be in
the name of KSEC. The MSHA mine ID is in the name of KSEC, the severance tax
number is in the name of KSEC. All of the necessary surface equipment to
commence mining is in place and the strip mining operation began in October
2008, according to Qualified Person, Roland M. Larsen, the writer and reviewer
of this press release.
As a result of positive
field inspections in October and early November, 2008 by technically competent
representatives in regard to the development of the Wolfe County property by
coal buyers to include Arch Coal Terminal Inc., Koch Carbon, LLC and
Thoroughbred Coal Company, all of which indicated interest in purchasing coal
production from the project initially on a "spot" market basis going
to longer term contracts in the near future. The Company currently has a
monthly "spot" market contract with Thoroughbred Coal Company of Lexington,
Kentucky.
Subsequent to an
announcement, a June 12th, 2008 press release, of a proposed Joint Venture
program between Royal Standard Minerals Inc. and Sharpe Resources Corp. to
jointly explore and develop coal projects in Eastern Kentucky, the Boards of
Directors of Royal Standard Minerals Inc. and Sharpe Resources Corporation have
completed a 50-50 Joint Venture agreement to jointly pursue the exploration and
development of coal projects in Eastern Kentucky. The agreement was approved
and executed on November 21, 2008 and is subject to regulatory approvals.
RSM is an exploration and
development company with interests in coal and precious metals in the United
States.
The information presented in
this press release is subject to the various regulatory approvals. The economic
viability of this project is uncertain and is contingent upon coal pricing and
mining conditions that could affect the project economics.
The TSX 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 Inc.
Roland Larsen
Qualified Person NI-43-101
(775) 487-2454
(775) 775-2460 (FAX)
Royal Standard Minerals Inc.
Mr. Rich Kaiser
Investor Relations
800-631-8127
Website: http://www.RoyalStandardminerals.com
Source: Royal Standard Minerals Inc.
.
RSM.TSXV/ RYSMF.OTCBB
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