Romarco Closes Underwritten Private Placement

ROMARCO MINERALS INC. (TSXV: R) (the “Company”) today announces that it has closed its underwritten private placement previously announced in its press releases dated February 12, 2009 and February 13, 2009 (the “Offering”). The Offering consisted of 72,100,000 units (the “Units”), at a price of C$0.38 per Unit, for aggregate gross proceeds of C$27,398,000. Each Unit is comprised of one common share in the capital of the Company (a “Common Share”) and one-half of one Common Share purchase warrant (a “Warrant”). Each whole Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $0.60 per Common Share until March 3, 2011.

The underwriters led by Macquarie Capital Markets Canada Ltd. and including Paradigm Capital Inc. and GMP Securities L.P. (together the “Underwriters”) received a cash commission of 6.0% of the gross proceeds raised in the private placement. The Underwriters also received compensation options (the "Compensation Options") to purchase an aggregate of 4,326,000 Units, or 6.0% of the total Units issued. Each Compensation Option will entitle the Underwriters to purchase one Unit of the Company at the Offering Price until March 3, 2011.

The net proceeds from the Offering will be used, together with the Company’s existing cash resources, to fund continued development of the Haile Gold Mine for general corporate purposes.

All securities issued pursuant to the Offering will be subject to a four month hold period.

Romarco Minerals Inc.

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

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 (830) 634-7489  or Shirene Urton, Executive Assistant at (775) 355- 1900.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.