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Dallhold Investments Pty Ltd, a private Australian <br />investment company of Perth, Western Australia, to <br />develop the property. Construction of the mine began <br />earlier this year and is expected to be completed in the <br />fall of 1987. The mine is expected to produce 70,000 <br />ounces of gold per year. <br />Royal Gold is aci:ively seeking other gold properties in <br />the United States, Canada, Australia and South America. <br />Denver Mining Finance Company is involved in the <br />financing of mine development and operations, and is an <br />active consultant with respect to mining related mergers, <br />acquisitions and asset disposal. It also provides a <br />broad range of advisory and management services regarding <br />operational mining ventures. <br />Mr. Owen said "Bringing Mr. Dempsey's expertise and <br />mining background into the management of Royal, is a <br />strong asset to ensure Royal's becoming a major contender <br />in the mining industry. The subsidiary companies allow <br />Royal to continue its effort to diversify into an <br />economically attractive arena." <br />Royal Resources Corporation is a publicly-held company <br />based in Denver, Colorado and engaged in the exploration <br />and development of oil, gas and gold properties. <br />***End*** <br />