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Royal Standard Minerals Completes First Round of Diamond Core Drilling.

RICHMOND, Va.--(BUSINESS WIRE)--Nov. 22, 1996--ROYAL STANDARD MINER (ME:RSM.) Royal Standard Minerals, Inc. has recently completed the first round of diamond core drilling at its' Pinon property in Elko County, Nevada. The 40,000 acre property, located 10 miles south of Newmount's Rain mine on the Carlin trend, hosts two potentially bulk mineable gold deposits (Dark Star and South Bullion). Core drilling was focused on the surface portion of the South Bullion deposit which is estimated to contain an open pit resource of 6.58 million tons grading 0.026-0.029 opt gold in two zones (Main Zone and North Pod Zone). This reserve is part of a resource that contains approximately 38.3 million ton 0.026 opt gold.

A preliminary assessment of the economic viability of the deposit was completed in September by Bharti Engineering Associates of Toronto. Based on their recommendations, RSM began a fill-in diamond core drilling program (8340 feet in 42 holes) in late October. The objective of the program is to improve confidence levels in the deposit by confirming ore grades and continuity, increase potential ore reserves, and provide material for additional metallurgical testing. This was the fist time core drilling was attempted on this deposit.

A total of 1354 feet in seven (7) mostly shallow holes (SB96-140 through SB96-146) were completed before adverse weather conditions forced the operation to stop for the season.

Results of the 1995 drilling program thus far demonstrates that the near surface resource at South Bullion can be expanded. Of particular interest is the central high grade core area in the main Zone which remains poorly defined, an area 50'-100' by 400' remains open to the southeast of core hole, SB96-146, which intersected 133 feet of intensively silicified Webb formation. The thick (higher than 100') high grade sections in the core area of the deposit are structurally controlled along the crest of an anticline whose northeast limb is steeply dipping. Past RC drilling generally penetrated this limb down dip. Additional diamond core drilling is planned to better delineate the structural geology and gold distribution in this area. Further, definition of the core area could significantly expand the reserves in this area.

RSM believes that the diamond core drilling program at South Bullion is necessary at this stage of the project in order to gain a better understanding of the deposit's geology, structural features, and distribution of ore-grade mineralization.

A total of 137 split core samples were collected from these holes and sent out for assay analysis. Results are pending.

CONTACT: Royal Standard Minerals, Inc.

Roland Larsen, 804/ 225-0186

Website: http://www.royal-standard.com
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Publication:Business Wire
Date:Nov 22, 1996
Words:436
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