Royal Road Minerals Announces Appointment of Liz Wall to the Position of Chair and Resignation of Peter Mullens

Toronto, May 18, 2021 - Royal Road Minerals Ltd. (TSXV:RYR) ("Royal Road" or the "Company") announces that due to professional commitments, Peter Mullens has stepped down as Chairman of the Board of Directors and resigned from the Company and that Liz Wall has moved from the position of Executive Director Sustainability to that of Non-Executive Chair.

"I was a co-founder of Royal Road and feel proud to have assisted the Company as it seized some compelling opportunities, navigated some significant challenges and flourished into the promising, well-regarded and dynamic organization it now is." Said Peter Mullens, "I would like to thank Tim and his entire team, our shareholders and our financial services teams for their confidence, perseverance and dedication. I now have some significant professional commitments in the Australian time zone and so, it is with regret that I must tender my resignation. I am confident that Liz will more than fulfil the requirements of the role and I look forward to sharing in the company's success as it advances its exciting projects in Colombia and Nicaragua."

Liz Wall joined the Company as a Non-Executive Director in May of 2019 and took on the role of Executive Director - Sustainability in August 2020. Liz has more than twenty years of global experience assessing and addressing social and environmental risks and impacts associated with extractive sector investments in developing countries. Liz has a Bachelor of Engineering in Mining, a Masters of Science and a Masters of Philosophy (Oxford). Originally trained as a mining engineer, a Rhodes Scholarship allowed Liz to pursue further studies in poverty reduction and environmental management. She has worked in more than forty countries, commencing her career with Rio Tinto in both project and corporate roles, focusing on health, environment and community aspects, before moving to the International Finance Corporation (World Bank Group) as a social development and environmental specialist. Liz has established a successful consulting business (Shared Resources Pty Ltd), has held several board-appointed roles and is regularly in the position of advising major mining companies on significant investment decisions. Underlining her commitment to effective corporate governance, she recently completed the renowned Insead International Directors Programme. Recognizing the evolving expectations of social and environmental performance, Liz retains close connections to fellow practitioners, delivers training courses on key topics, and authors books and papers on topics in this area.

"We are thankful for Pete's invaluable insight and advice over the many years he has been with the Company and we are sad to see him go. We wish him the very best for his future endeavors" said Tim Coughlin, Royal Road's President and CEO. "Liz is very much a known and highly-respected member of the Company and of the wider exploration and mining community. We welcome her to the position of Chair, look forward to her guidance and feel that her appointment is testament to the Company's commitment to innovation in the role of sustainability and responsible exploration and mining."

Cautionary statement:

This news release contains certain statements that constitute forward-looking information and forward-looking statements within the meaning of applicable securities laws (collectively, "forward-looking statements") including statements relating to the proposed sale transaction described herein and those describing the Company's future plans and the expectations of its management that a stated result or condition will occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, or developments in the Company's business or in the mineral resources industry, or with respect to the transaction, to differ materially from the anticipated results, performance, achievements or developments expressed or implied by such forward-looking statements. Forward-looking statements include all disclosure regarding possible events, conditions or results of operations that is based on assumptions about, among other things, future economic conditions and courses of action, and assumptions related to government approvals, and anticipated costs and expenditures. The words "plans", "prospective", "expect", "intend", "intends to" and similar expressions identify forward looking statements, which may also include, without limitation, any statement relating to future events, conditions or circumstances. Forward-looking statements of the Company contained in this news release, which may prove to be incorrect, include, but are not limited to, those related to the Transaction, the Company and the Company's exploration plans.

The Company cautions you not to place undue reliance upon any such forward-looking statements, which speak only as of the date they are made. There is no guarantee that the anticipated benefits of the proposed sale transaction and the Company's business plans or operations will be achieved. The risks and uncertainties that may affect forward-looking statements include, among others: economic market conditions, anticipated costs and expenditures, government approvals, and other risks detailed from time to time in the Company's filings with Canadian provincial securities regulators or other applicable regulatory authorities. Forward-looking statements included herein are based on the current plans, estimates, projections, beliefs and opinions of the Company management and, except as required by law, the Company does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change.

For further information please contact:
Dr. Timothy Coughlin
President and Chief Executive Officer

+44 (0)1534 887166
+44 (0)7797 819539

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/84410