Royalco Resources is The ASIA Miner Investing in Mining Conference bronze sponsor. The conference will be held on July 15 and 16 at the Brisbane Exhibition and Convention Centre. Royalco Resources managing director Peter Topham will present the topic:

‘Sovereign risk in South East Asia - an explorer's perspective’ and update the latest developments with Royalco Resources.

The initial drill target for Royalco Resources at its Pao gold and copper project in the Philippines is a coincident aero-magnetic and copper soil anomaly in the southern portion of the tenement.

On completion of this the rig will proceed to the Manidyo enargite target.

A suitable camp is being upgraded at the exploration site for what is anticipated to be a two year drilling programme on several epithermal gold and porphyry copper targets within the district.

Adverse weather, including two typhoons, slowed down alternate roadworks to the tenement site but these are nearing completion.

A small number of Non Government Organizations, unrepresentative of the relevant local community, continue in their efforts to disrupt this campaign.

Royalco retains the strong support of the tribal community in the Pao tenement area and on this preferred new access route.

In an effort to recover lost time a second rig, subject to availability, will be mobilized once operations by the first rig have been bedded down.

Meanwhile a revised application has been lodged on the Gambang tenement to comply with recent amendments to NCIP guidelines.

Rather than seek approval for the grant of the tenement in toto, the process is proceeding on a stage by stage basis. The first stage, covering the Herman’s Find prospect, has been approved by the affected local communities and is awaiting endorsement from the relevant authorities.

The second stage covers the Manga prospect and approval for this area is underway. The third stage covers the Cableway prospect will be instigated towards the end of this quarter.

Drilling at Herman’s Find is being scheduled post Easter.

At Malangza the initial drill hole locations have been selected for structural interpretation. A drilling programme is being considered for mid-2008 subject to rig availability and the extent of progress achieved at Gambang and Pao.

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