Romarco Receives Approval for Buckskin Transaction

ROMARCO MINERALS INC. ("TSXV: R" - the "Company") announces today that it has received regulatory approval on the Mining Lease Agreement with Paragon Precious Metals, LLC for the Buckskin-National Project in Nevada (see press release dated March 1, 2004).

Paragon Precious Metals, LLC ("Paragon") is the owner of 90 unpatented lode mining claims that encompass approximately 1780 acres (720ha). Mr. Robert Hatch, the Company's U.S. Exploration Manager, is a principal member of Paragon.

The Company has secured an additional package of mining claims in the Buckskin-National Project area with two other private parties, Buckskin-National Mine Ltd. and Mr. John Bell.

The Company also announces that it has SEDAR filed an Independent Technical Report on the Buckskin-National Project. The Company's Qualified Person and author of the report is William W. Walker, Professional Geologist. The Technical Report is also available on the Company's website at www.romarco.com.

Buckskin-National Project

Buckskin-National is a volcanic-hosted gold/silver exploration project exhibiting exceptional discovery potential for high grade, bonanza gold and silver vein systems that are geologically analogous to ore deposits at the nearby Ken Snyder Mine (Midas District) and at the Hishikari Mine, Kagoshima Prefecture, Japan. The Project area is situated within the National Mining District and is located along the northwest extension of the Bonanza gold/silver ores mined during the early 1900's from underground workings along the Bell Vein in the eastern portion of the project area yielded a recorded production of approximately 24,000 ounces of gold and 300,000 ounces of silver from ore averaging approximately of 0.7 ounces gold and 8.8 ounces silver per ton.

2004 Exploration Program

The planned 2004 exploration program will involve a comprehensive approach including mapping the surface and underground geology, logging all available existing drill cores, conducting a widespread systematic soil sampling program, and initiating diamond drilling of bonanza vein targets. Additionally, existing drill core that was never split, sampled, and assayed will be split and assayed for gold, silver, and associated elements. The logging and sampling of existing drill core is currently underway, and field activities will begin in late May or June, depending on the timing of the melting of snow cover. Dr. Tommy Thompson will be the Project Geologist and responsible for conducting all geological activities on the project, and supervising the geochemistry and drilling programs.

Terms of the Transaction

Paragon received US$30,000 upon execution of the agreement and will also receive annual lease payments on each annual anniversary date of US$40,000 per year escalating by $10,000 per year to a maximum of $100,000 per year. While the lease is in effect, Paragon will receive the lesser of US$300,000 worth of Romarco shares or 300,000 shares of Romarco per year until 2007. Upon production, Paragon will receive a sliding scale Net Smelter Royalty (NSR) based on the gold price.

Buckskin National Mine, Ltd. is the owner of 10 unpatented lode mining claims that encompass approximately 190 acres (77ha) and Mr. John Bell is owner of 3 unpatented lode mining claims that encompass approximately 62 acres (25ha). Together, Buckskin National Mine Ltd. and Mr. John Bell collectively received US$26,000 upon execution and will receive annual payments thereafter beginning with US$26,000 on the first anniversary of the agreement and increasing by US$4,000 per year thereafter to a maximum of US$40,000 per year. These payments will be distributed in accordance to their pro-rata share of the 13 claims.

Upon production, Buckskin National Mine Ltd. and Mr. John Bell will receive a sliding scale Net Smelter Royalty (NSR) based on the gold price.

For further information, please contact Diane Garrett, President and C.E.O. at (830) 634-7489 or by e-mail at dgarrett@romarco.com or Mr. Ralf Langner, V.P. Finance at (604) 688-9271 or by e-mail at rlangner@romarco.com  

ON BEHALF OF ROMARCO MINERALS INC.

Diane R. Garrett
President and C.E.O.