Romarco announces 2012 fourth quarter and year end results

          Romarco announces 2012 fourth quarter and year end results

PR Newswire

TORONTO, Feb. 25, 2013


TORONTO, Feb. 25,  2013 /PRNewswire/  - ROMARCO  MINERALS INC.  (TSX: R)  (the 
"Company") is pleased  to announce that  it has released  its results for  the 
fourth quarter and year  ended December 31, 2012.  The Company's 2012  fourth 
quarter and year-end 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 December 31, 2012 was $64.8 million.

  *Cash spend on operating and investing activities was:

       *$9.3 million during the three-month period ended December 31, 2012
         compared with $16.1 million during the same period in 2011 and $9.8
         million in the third quarter of 2012.

       *$51.1 million during the twelve-month period ended December 31, 2012
         compared with $92.2 million during the same period in 2011.

  *Net loss was:

       *$3.3 million ($0.01 per share) compared with $3.4 million ($0.01 per
         share) for the three-month periods ended December 31, 2012 and 2011,

       *$11.9 million ($ 0.02 per share) compared with a $15.7 million ($
         0.03 per share) for the twelve-month periods ended, December 31, 2012
         and 2011, respectively.

  *The SAG and Ball mill shells were delivered to South Carolina in late
    December 2012 and arrived at Haile in January, 2013. Progress payments of
    approximately $3 million on these are being made in the first quarter of

  *On February 20, 2013, the Company announced an amendment of its agreement
    with Blanchard Machinery Company ("BMC") to extend the delivery schedule
    for its Caterpillar ("CAT") mobile mine equipment and final payment of
    approximately $29 million from September 30, 2013 by six months, with an
    option to extend a further six months.

  *During the fourth quarter, the US Army Corps of Engineers ("Corps")
    advised the Company it would not meet the scheduled date of December 14,
    2012 for publishing the Draft Environmental Impact Study ("EIS") in order
    to edit previously drafted chapters of the EIS to reflect the Company's
    new mine layout and the need to accurately characterize the potential
    effect of mining on surface and groundwater. On February 20, 2013, the
    Company announced an agreement with the Corps on the scope of additional
    hydrology testing.

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

  *Detailed project engineering was approximately 76% complete at December
    31, 2012.

  *Cash conservation actions implemented in 2012 included reduction of
    exploration drill rigs from 11 to five rigs during the first quarter and a
    further reduction to three rigs by beginning of the third quarter.

  *Drilled approximately 57,500 meters in 2012, and approximately 10,600
    meters during the three-month period ended December 31, 2012.

  *On February 7, 2012, announced an updated mineral resource estimate
    containing 71.2 million tonnes at 1.77 g/t for 4.0 million gold ounces of
    measured and indicated material, and an additional 20.1 million tonnes at
    1.24 g/t for 0.8 million gold ounces of inferred material.

  *The Company's wholly owned Kershaw Mineral Laboratories ("KML") received
    accreditation from the Standards Council of Canada ("SCC") in the fourth
    quarter of 2012.

The resource calculations were completed by Independent Mining Consultants of
Tucson, Arizona under the direction of Mr. John Marek, PE, an independent
Qualified Person ("Q.P.") pursuant to NI 43-101.

For a full discussion of the Company's sampling, analysis, quality  assurance, 
quality control, and other technical  disclosure, please see the Company's  NI 
43-101 Technical Report filed March 19,  2011 on SEDAR. Romarco's Q.P.  under 
NI 43-101 is James Berry, chief geologist at Haile.

About Romarco Minerals Inc.

Romarco Minerals  Inc. is  a gold  development company  focused on  production 
primarily in the US.  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
Press spacebar to pause and continue. Press esc to stop.