ROYAL STANDARD MINERALS INC.
RSM Activities at Goldwedge, Dixie Comstock, Railroad Projects, Nevada
and CFO Resignation
www.royalstandardminerals.com
Wednesday May 28, 12:22 pm ET
MANHATTAN,
NEVADA--(Marketwire - May 28, 2008) - ROYAL STANDARD MINERALS INC.(TSX VENTURE:RSM - News; OTCBB:RYSMF - News) - The
Company has completed the dewatering well for the underground project. The
indications are that this well will be very effective in lowering the local
water table within the immediate mine development area. The permitting process
is making progress to include the permit renewal and modifications to the
surface water discharge permit of mine water and plant modifications, according
to Qualified Person, Roland M. Larsen.
The
plant is currently processing gold mineralized material at a throughput rate of
approximately 300 tons per day from the low grade stockpile. We have not
increased the throughput rate to maintain the proper grind from the ball mills.
At this point we have not commenced a night shift in the plant due to the lack
of available personnel, however, the Company will have
some of the previously employed miners return to the project in the near
future.
As
reported earlier, the Company has made arrangements to send all of its
concentrates to be processed by an independent laboratory to produce dore' that will be sent back to
the Company to our in-house assay laboratory. Once assayed we will send the dore to a third party for further
refining to produce a finished (999) fine gold and silver product. The first
four (4) ton shipment of concentrate containing less than 300 total ounces is
expected to be sent to the independent laboratory in early June, 2008.
At Dixie-Comstock the initial extension drilling program of eight (8)
core drill holes has been completed. This drilling did not result in identifying
additional mineable grade gold mineralization under
the Stillwater range
adjacent to the near surface deposit. Drilling the northeast extension was
difficult due to the thickness of alluvial cover. Drilling testing this area
will require a different drill system. It appears that the northeast extension
adjacent to the near surface fault block that hosts the Dixie-Comstock property
is down-dropped more that 500
feet in this area. The next step is to permit a
bulk-sampling program for the deposit area in order to better evaluate this
property as a potential development project.
The drill has recently been moved to the Railroad property, Elko County, to
continue the drilling program on the copper-molybdenum-gold project with the
objective of further defining the areal extent of
this mineralization.
The part-time CFO, Mr. Sam Gulko has recently
resigned for personal reasons. It is expected that he may be replaced by
another part-time individual at some point in the near future.
RSM is an exploration and development company with advanced gold
projects in Nevada.
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
The TSX.V Exchange does not accept responsibility for adequacy or
accuracy of this release as per Exchange Policy 3.3 section 6.5.
Contact:
Roland Larsen
Royal Standard Minerals Inc.
Qualified Person NI-43-101
(775) 487-2454
(775) 775-2460 (FAX)
Mr. Rich Kaiser
Royal Standard Minerals Inc.
Investor Relations
1-800-631-8127
Website: www.royalstandardminerals.com
RSM.TSXV/
RYSMF.OTCBB
##7