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~_ ~ <br />w <br />Q <br />w <br />w <br />w <br />z <br />CONTACT <br />Company. <br />Michael Owen <br />Cnm.ma~ <br />Royal Rrsomlr. <br />ibbU Wvnkirop SVeel <br />Smle 10001en1~ Flow <br />Denvrr. C olmatlo BU101 <br />IJ031 51N 660 <br />ROYAL RESOURCES CORPORATION ~~~ ~~~~~~~~~~~~~~I~ <br />1660 WYNKOOP STREET . SUITE 1000 TENTH FLOOR <br />DENVER, COLORADO 80202 (303) 573-1660 <br />NEWS FOR RELEASE: IMMEDIATE: JANUARY 7, 1987 <br />DENVER, COLORADO: ROYAL RESOURCES CORPORATION <br />(NASDAQ:RRCO) announced today that Mr. Stanley Dempsey <br />has been elected President and Chief Operating Officer of <br />Royal Gold, Inc., and Denver Mining Finance Company, <br />wholly-owned subsidiaries of Royal Resources Corporation. <br />Royal Gold explores for, develops and produces gold. <br />Denver Mining Finance Company provides merchant banking <br />services to the mining industry. <br />Mr. Michael Owen, Chairman of Royal, stated that "Mr. <br />Dempsey will be an outstanding addition to Royal's <br />management. Mr. Dempsey has many years of solid <br />experience in the mining industry, and has a reputation <br />for innovative approaches to finance and mine <br />development. He has broad international experience and <br />is particularly well acquainted with the Australian <br />mining scene. We believe that he will be able to lead <br />Royal into the first rank of world gold producers." <br />Mr. Dempsey has been a member of the board of directors <br />for Royal since 1984. He was formerly a vice president <br />of AMAX, Inc., senior vice president of Climax Molybdeum <br />Company, and chairman of AMAX Australia Limited. He also <br />served as deputy chairman of Australian Consolidated <br />Mines (ACM). ACM is a leading producer of gold in <br />Australia. Mr. Dempsey is a past-president of the <br />Colorado Mining Association and the Rocky Mountain <br />Mineral Law Foundation. He has been active in mining <br />industry and civic organizations in this country and <br />abroad. <br />Royal Gold, Inc. has a 20~ interest in the Camp Bird <br />Venture which is currently undertaking a program of <br />exploration, development and production of gold ores at <br />the historic Camp Bird Mine near Ouray, Colorado. Royal's <br />partner in tlhe venture is Chipeta Mining Corporation, a <br />subsidiary of Western Mining Corporation of Melbourne, <br />Australia. In addition, Royal Gold owns a 25!K interest <br />in the Colosseum gold mine in San Bernardino County, <br />California, :and has entered into a joint venture with <br />