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News & Articles
| | September 21, 2009
Romios Congratulates the Federal Government for Its Foresight in Supporting the Construction of the Northwest Power Transmission Line in British Columbia
Publisher: Romios Gold Resources
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| | TORONTO, ONTARIO -- Romios Gold Resources Inc. (TSX VENTURE: RG)(OTCBB: RMIOF)(FRANKFURT: D4R) was pleased to learn that the Canadian Federal Government will contribute up to C$130 million towards the construction of the C$400 million Northwest Power Transmission Line, a 287 kilovolt power line extending for 335 kilometres along Highway 37 from the town of Terrace to the vicinity of Bob Quinn Lake in northwestern British Columbia. Romios congratulates the Federal Government for their foresight in providing financial support for the expansion of British Columbia's existing power grid into sparsely populated regions to spur mineral exploration, mine development and the creation of alternative energy projects which would reduce carbon emissions by reducing the use of diesel generators in the area.
Romios also applauds the British Columbia Government for their determination in obtaining financial support from the federal government and their commitment to provide up to C$250 million for this very worthy project. In September 2008, Premier Gordon Campbell and the Province of British Columbia announced the initiation of the environmental assessment process and First Nations Consultation, a prelude to the construction of the Northwest Power Transmission Line which could commence as early as next year. In addition to the funds being provided by government, some private funding may be required. The power line has the potential to attract billions of dollars of private investment, create a significant number of new jobs and generate millions of dollars of revenue to the Federal and Provincial Governments on an annual basis.
Tom Drivas, President and CEO of Romios states: "We are very pleased with the spirit of co-operation between the Federal Government and the British Columbia Government to finance the construction of the extension of the Northwest Power Transmission Line which will facilitate the development of NovaGold-Teck Cominco's copper-gold-silver deposits in the Galore Creek area. Romios has several projects in the Galore Creek area and during the last several years, has spent over C$10million in exploration at its Newmont Lake and Trek properties. The construction of the power line would provide a significant part of the infrastructure required to further the economic potential of these projects".
About Romios Gold Resources Inc.
Romios Gold Resources Inc., a progressive Canadian mineral exploration company established in 1995, is headquartered in Toronto and is actively engaged in precious and base metal exploration across North America with a primary focus on gold, silver and copper. Romios has significant property interests in British Columbia, Ontario and Nevada. The Corporation is undertaking extensive exploration work on its Galore Creek area properties in British Columbia, which are centrally located between NovaGold's large gold- copper-silver deposit and Barrick's high grade gold mine at Eskay Creek.
Exchange Listings and Symbols: TSX-V:RG, NASDAQ OTC:RMIOF, Frankfurt:D4R.
Head Office:
25 Adelaide Street East, Suite 1010
Toronto, ON Canada, M5C 3A1 |
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Please direct all media inquiries to:
Byng Giraud,
General Secretary,
Highway 37 Power Line Coalition
Tel: (778) 233-6449
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