Romarco announces 2012 third quarter results

                 Romarco announces 2012 third quarter results

PR Newswire

TORONTO, Oct. 31, 2012

TORONTO, Oct. 31,  2012 /PRNewswire/  - ROMARCO  MINERALS INC.  (TSX: R)  (the 
"Company") is pleased  to announce that  it has released  its results for  the 
third quarter  ended September  30,  2012. The  Company's 2012  third  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 September 30, 2012 was $74.2 million

  *Cash spend (before foreign exchange effects) during the three-month period
    ended September 30, 2012 was $9.7 million compared with $17.8 million
    during the same period in 2011.

  *Reported $2.0 million ($0.00 per share) net loss for the three months
    ended September 30, 2012 compared with a $3.9 million ($ 0.01 per share)
    net loss during the same period in 2011.

  *Reduced 2012 exploration drilling in an on-going effort to conserve cash.

  *The Company modified its mine layout to avoid direct impacts to wetlands
    (25% reduction) and to streams (32% reduction).

  *Detailed project engineering was approximately 61% complete at September
    30, 2012.

  *On October 19, 2012, the Company was notified by the Standards Council of
    Canada ("SCC") that the Company's wholly owned Kershaw Mineral
    Laboratories ("KML") was approved for accreditation.

  *On October 25, 2012, the Company announced the Corps had indicated that
    the scheduled date of December 14, 2012 for publishing the Draft
    Environmental Impact Study ("EIS") would not be met.

About Romarco Minerals Inc.

Romarco Minerals Inc. is an exploration and 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 drilling and permitting  for its flagship project,  the 
Haile Gold Mine in South Carolina.

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




Romarco Minerals Inc.
Dan Symons, Vice President, Investor Relations
Phone: 416-367-5500

Renmark Financial Communications Inc.
Maurice Dagenais 514-939-3989 or via e-mail
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