RYSMF
:OTCBB
ROYAL STANDARD MINERALS, INC. (RYSMF)
Goldwedge Project
Development, Nye County, Nevada Update
Manhattan, Nevada-November 17, 2009- Royal
Standard Minerals, Inc.?s
(RYSMF-OTCBB) Goldwedge
is a permitted gold mining property located in Nye County, Nevada. RYSMF has completed considerable underground development
work to evaluate the upper portion of the drill indicated gold system. Concurrently,
a processing plant was constructed on the property to further test the gold
recoveries of the mined material. As a result of this work the company is
involved with an equipment upgrade and maintenance program for the Goldwedge
plant and the underground facilities. This work includes the removal of current equipment
and the reinstallation of a larger capacity grinding circuit in the
plant. The purpose of this program is to increase plant throughput and
improve reliability of the operation going forward.
The capital requirements
for the plant and underground program to advance this project toward full
operation is expected to come from current cash, new debt and forward
gold sales from the Goldwedge property.
Royal Standard Minerals, Inc. owns
and controls several precious metal properties in the State of Nevada. If
Nevada were a country it would be ranked the 4th largest producer of gold in
the world. The gold mining industry of Nevada produces almost 7.5% of the world?s gold supply and almost 80%
of all gold produced in the USA, the largest domestic producer, http://www.nevadamining.org/documents/Economic_Overview_08.pdf.
RYSMF (C.U.S.I.P
780919106) is a
natural resource exploration and development company, www.royalstandardminerals.com ..
For
further information about this release contact Mr. Roland Larsen, (775)
487-2454 and/or Mr. Rich Kaiser, Investor Relations, 800-631-8127.
Royal Standard Minerals cautions that the
statements made in this press release constitute forward looking statements,
and no guarantees of future performance and actual results or developments may
differ materially from the projections in the forward-looking statements. Forward-looking
statements are based on the estimates and opinions of management at the time
the statements are made.
Contact:
Roland Larsen
804-580-8107
Rich Kaiser
800-631-8127
http://finance.yahoo.com/q?s=RYSMF.OB
RYSMF :OTCBB