Romarco Announces Increase to Bought Deal Financing

ROMARCO MINERALS INC. (TSXV: R) (the “Company”) is pleased to announce that it has agreed to increase the size of the previously announced bought deal financing to C$40,040,000. Pursuant to a revised letter agreement, the underwriters led by Paradigm Capital Inc. and including GMP Securities L.P., Macquarie Capital Markets Canada Ltd. and Wellington West Capital Markets Inc. (collectively the “Underwriters”), have agreed to purchase 45,500,000 common shares of the Company (the “Common Shares”) at a price of C$0.88 per Common Share (the “Offering Price”) for gross proceeds of C$40,040,000 (the “Offering”) on a bought deal basis pursuant to a short form prospectus of the Company. The Company has agreed to grant the Underwriters an option, exercisable at any time up to 30 days after closing of the Offering, to acquire additional common shares up to 15% of the Common Shares sold pursuant to the Offering to cover over-allotments, if any, and for market stabilization purposes. If this option is exercised in full, the aggregate gross proceeds to Romarco will be C$46,046,000.

Romarco will use the net proceeds from the Offering to fund the continued development of the Haile Gold Mine, the purchase of lands adjacent to and around the Haile Gold Mine, an increased drilling program, working capital and general corporate purposes.

The Offering is expected to close on or about August 13, 2009 (the “Closing Date”) and is subject to certain conditions including the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

This press release is not an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from
U.S. registration requirements.

About Romarco Minerals Inc.

Romarco Minerals Inc. is a gold development company focused on production in the U.S. and Mexico. The Company’s flagship project is the Haile Gold Mine in South Carolina which is currently undergoing exploration drilling, development planning and permitting. The Pinos Gold District in Mexico is a high grade epithermal vein district in the advanced exploration stage.

FORWARD-LOOKING INFORMATION
Certain statements contained in this market release constitute forward-looking information, future oriented financial information, and financial outlooks (collectively forward-looking information) within the meaning of Canadian securities laws. Forward-looking information may relate to the matters discussed in this market release and other matters identified in Romarco's public filings, Romarco's future outlook and anticipated events or results and, in some cases, can be identified by terminology such as "may", "will", "should", "expect", "anticipate", "believe", "intend", "estimate", or other similar expressions concerning matters that are not historical facts. Forward-looking information in this market release includes the completion of the offering, the obtaining of TSXV and other regulatory approvals.

For further information, please contact Diane Garrett, President and C.E.O. at (210) 621-4200 or Shirene Urton at (775) 355-1900.

ON BEHALF OF ROMARCO MINERALS INC.
“Diane R. Garrett”
Diane R. Garrett
President and C.E.O.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.