Romarco announces C$25 million non-brokered private placement

TRADING SYMBOL: TSX: R

TORONTO, Nov. 5, 2013 /CNW/ - ROMARCO MINERALS INC. (TSX: R) ("Romarco" or the "Company") is pleased to announce it has arranged a non-brokered private placement financing (the "Private Placement") of approximately 71,678,600 common shares of the Company (the "Offered Shares") at a price of C$0.35 per Offered Share for aggregate gross proceeds of C$25,087,510. The Company expects to close the Private Placement on or aboutNovember 13, 2013. The Private Placement is being executed with some of the Company's largest shareholders including BlackRock, Colonial First State Global Asset Management, and Franklin Templeton Investments. A total of eight subscribers will purchase approximately $24.5 million of the private placement with insiders subscribing for the balance.

Diane Garrett, President and CEO commented, "We are very pleased to have a significant, longstanding and loyal shareholder base who have followed and supported our progress with the Haile Gold Mine - a high grade, low cost, world class asset located in South Carolina, USA."

Closing of the Private Placement is subject to receipt of approval of the Toronto Stock Exchange. The Offered Shares will be subject to a four month plus one day hold period. The Company intends to use the proceeds from the Private Placement to finance the advancement of Romarco's Haile Gold Mine including funding permitting activities, equipment payments, and general corporate purposes.