Royal Road signs MOU with Department of Narino

Executive Summary

• Royal Road Minerals Ltd. has signed a non-binding Memorandum of Understanding (MOU) with the Department of Narino, Colombia, to establish a framework for cooperation on responsible mineral exploration and the formalization of artisanal and small-scale mining.
• The agreement aims to align the company's exploration activities with regional development plans, strengthen environmental stewardship, and foster engagement with local communities and authorities.
• The MOU has an initial term of two years and does not create binding legal obligations beyond customary confidentiality and good faith provisions; specific programs will be addressed through separate agreements.

Key Details

• Parties: Royal Road Minerals Ltd. and the Department of Narino (Gobernacion de Narino), Republic of Colombia.
• Agreement Type: Non-binding Memorandum of Understanding (MOU).
• Term: Initial term of two years.
• Scope of Cooperation:
  • Advancing responsible mineral exploration consistent with Colombian mining and environmental law.
  • Supporting the formalization of artisanal and small-scale mining operations.
  • Strengthening environmental stewardship and monitoring initiatives.
  • Fostering constructive engagement with local communities and authorities.
  • Aligning exploration activities with departmental development plans.
• Company Assets: Royal Road holds a portfolio of mineral titles and title applications exceeding 750 square kilometers in Narino, covering intrusion-related gold and porphyry copper districts.
• Legal Status: The MOU does not create binding legal obligations beyond customary confidentiality and good faith provisions. Any specific programs or investments will be consummated through separate agreements.

Notable Quotes

• "We believe Narino hosts the most compelling and underexplored copper-gold mineral belts anywhere in the Andes... With today's geological understanding and exploration tools, we see a rare opportunity to test a largely untouched Andean mineral belt for both porphyry copper and intrusion-related gold systems." — Dr. Tim Coughlin, President and CEO