Wednesday April 28, 2010, 8:00 am EDT
HENDERSON, NV--(Marketwire - 04/28/10) - Royal Mines and Minerals Corp. (OTC.BB:RYMM - News) ("Royal Mines"), an exploration stage company focused on the development of mining projects in North America, is pleased to report that we have produced approximately 25 oz of gold and over 400 oz of silver from the original three shipments (23 tons) of concentrate generated at the Golden Anvil project in Mexico. We are focused on improving the amount of time it takes to separate and extract precious metals from the concentrate and accordingly we have hired experts to assist us in optimizing the total percentage of precious metals recovered from the concentrate. However, the optimization of our process has been slowed while we await additional concentrates from Golden Anvil.
Royal Mines has hired a professional mining engineer to evaluate the progress of the Golden Anvil concentration plant and to review the mine site and related historic data. The concentration plant expects to begin operations within 45 days at a projected production rate of 200 tons of head ore per day, resulting in 75 tons of concentrate per month. We are working with Golden Anvil to formalize a joint venture agreement and expect to execute an agreement within 60 days.
Additionally, Royal Mines recently received approximately 400 oz of high grade gold placer concentrate from a private party that we refined into 351 oz of gold dore bars. We earned a 5% processing fee for our service and expect to receive up to an additional 2000 oz of this high grade gold placer concentrate to refine over the next 60 days.
