Royal Road Minerals Signs Memorandum of Understanding with the Government of the Department of Narino, Colombia

• 2026-03-02: Royal Road Minerals signs a non-binding Memorandum of Understanding with the Government of the Department of Narino, Colombia to advance responsible mineral exploration and formalization of artisanal miners. The MoU sets up a platform to formalize artisanal mining, strengthen environmental monitoring, and align exploration with regional plans. The initial term is two years, and no binding obligations beyond confidentiality/good-faith provisions. The company frames this as aligned with its Colombian portfolio and regional objectives, noting its large title footprint (>750 km2) in Narino with intrusion-related gold and porphyry copper potential.
• 2026-02-26: Positive exploratory RC drill results from Jabal Sahabiyah, Saudi Arabia, confirming two mineral systems (gold-dominant sheeted vein systems and zinc-polymetallic skarn-style mineralization). Best intercepts include notable zinc-rich and gold-bearing intervals, with potential for a Zn-Au-VMS style system and possible zinc expertise partner discussion. Company emphasizes disciplined testing and potential strategic pathways to advance the project while maintaining exposure to broader gold upside.
• 2026-01-12: Material milestone in Colombia with formal grant of the Chuscalita Mining Concession Contract under an option framework. Royal Road paid required amounts to secure an 80% interest (subject to 20% carried stake for titleholders until feasibility) and acknowledged a future US$10 million NSR buyout option. Drilling underway adjacent to existing GAM (Guintar-Aleman-Margaritas) resources, signaling a push to expand Colombia portfolio and value.
• 2025-11-27: Royal Road closes non-brokered LIFE financing for approximately CAD 5 million (5,000,000 CAD) via a unit structure at CAD 0.18, with 27.78 million units and associated proceeds earmarked to expand drilling programs across Colombia and Saudi Arabia. This marks a near-term liquidity event to accelerate exploration, with warrants and finders’ fees outlined.
• 2025-11-24 to 2025-12-22: Routine exploration updates across GAM (Colombia), Jabal Sahabiyah and other Saudi/Morocco projects; Lalla Aziza option and Moroccan work advance (Guintar boundary extension and Lalla Aziza exploration). The updates show a broad multi-project pace and ongoing community/regulatory engagement; no groundbreaking resource results but continued momentum.
• 2025-11-17: Positive rock-chip channel results from Ash Shajjah, Saudi Arabia, with multiple samples indicating gold-bearing veins and strong trench/channel results; plan for follow-up drilling indicates continued expansion of the Saudi portfolio.
• 2025-09-29 to 2025-10-06: Trading halts and resumed trading in TSX-V; Rio2 Limited announces a strategic investment acquiring 39.855 million Royal Road shares (~15% of issued and outstanding) at CAD 0.115 per share, creating an insider/related-party dynamic and establishing Rio2 as a significant shareholder and potential partner. Royal Road and Rio2 outline a pro-rata participation rights and board nomination rights, signaling a strategic alignment with a well-funded explorer.
• 2025-09-29 (other releases): Rio2 strategic investment announcement and CIRO trading halt context; Rio2 emphasizes optionality and diversification via Royal Road assets alongside Rio2’s flagship project (Fenix) and board involvement.
• 2025-07-14: Lalla Aziza copper project in Morocco shows scout drilling results with several intervals yielding copper grades and zones of interest; Carbomine SARL option to acquire 100% of Lalla Aziza is disclosed with staged payments and an eventual 2.5% NSR royalty; early-stage, but positive signal for copper potential in a new jurisdiction.
• 2025-05-21: Royal Road begins trading on OTCQB, broadening US-investor access and liquidity potential alongside TSX-V listings.
• 2025-03-10 to 2025-04-02: Morocco activity (Alouana option with Izughar; Alouana drilling results with copper, tungsten, and bismuth; Alouana option withdrawal later in 2025 with a focus on other opportunities). The Alouana program tests intrusion-related/copper-polymetallic systems and provides context for Royal Road’s Morocco strategy.

Overall takeaway from the news stream: Royal Road has evolved from early Morocco Alouana activity and Colombian GAM developments to formal concessions (Chuscalita), a major strategic investment by Rio2, and progressive exploration results across Saudi Arabia, Colombia, and Morocco. The most material near-term signal is the Rio2 equity stake and the MOUs/permits that underpin formalization and expansion of exploration, plus ongoing drill programs that could unlock value in both established and frontier districts.

• Most recent news (2026-03-02 MoU with Narino) is positive but framed as non-binding and strategic rather than immediately earnings- or resource-driven. It supports risk management (formalization, environmental monitoring, community engagement) and de-risks social/regulatory aspects in a key Colombian jurisdiction. It is a step in a longer pathway to value, not an immediate production or resource milestone. In isolation, this is more “routine-positive” than “material-game-changing” though it complements and corroborates prior Colombia-oriented progress (title concessions, GAM expansion) and the multi-jurisdiction exploration drive.
• The Rio2 strategic investment (CAD 4.58 million for 39.9 million shares, ~15% stake) in late September 2025 is a more material development for the stock’s near-term perception, creating a credible strategic partner and potential pipeline for financings and project collaboration. While not included in the very latest MoU, this investment underpins the capital structure and strategic investor base and could amplify upside with Rio2’s experience and capital for future exploration or development.
• The January 12, 2026 Chuscalita title grant is a material operational milestone in Colombia, expanding Royal Road’s asset base and enabling drilling and feasibility consideration with a clear path to 80% ownership and a potential NSR framework. This aligns with the company’s broader strategy of growing Colombian portfolio with meaningful rights and cash-flow like royalties.
• The February 26, 2026 Jabal Sahabiyah results (two distinct mineral systems; notable zinc and gold intercepts) are positive, reinforcing the Saudi portfolio’s potential and justifying ongoing or expanded partnerships (potential zinc-specialist partner) and follow-up work. This is a material positive signal for investor confidence in Saudi assets.
• The overall cadence of financing (Nov 2025 private placement) and public listing on OTCQB (May 2025) supports capital availability for rapid drilling programs in multiple jurisdictions. This is positive for liquidity and development timelines though still contingent on drill results.

In sum: The most recent MoU is a routine-positive signal in line with ongoing expansion and formalization work, but its materiality is amplified by the Rio2 investment and the Chuscalita title grant. The company’s multi-jurisdiction approach continues to present upside, with ongoing drilling results and governance/financing activity supporting a constructive, albeit risk-weighted, view.

• Royal Road Minerals Limited operates as a multi-jurisdiction exploration company with a focus on Colombia (Guintar-Aleman-Margaritas GAM, Chuscalita title progression), Saudi Arabia (Jabal Sahabiyah and surrounding licenses), and Morocco (Alouana, Lalla Aziza, and related options with Carbomine).
• Flagship/currents focus:
• Colombia: GAM project exploration and formalization streams via agreements with titleholders; Chuscalita title advancement with potential 80% interest and 2% NSR royalty framework.
• Saudi Arabia: Jabal Sahabiyah exploration with multiple favorable mineral systems and ongoing assessment of strategic partnerships (potential zinc-expertise collaboration) with exposure to gold upside.
• Morocco: Lalla Aziza copper project (with Carbomine option to acquire 100%); Alouana testing in earlier phases; ongoing regional exploration strategy.