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<br />Mining Investments Limited may require Royal to file <br />for registration of Montagu's 200,000 shares. <br />Montagu also has the right, in the period commencing <br />six months after closing date and ending on the first <br />anniversary of the closing date, to require Royal to <br />purchase all or any part of its Royal shares at a <br />purchase pz•ice of $4.50 per share. <br />Mr. Mi.Chael Owen, Chairman of Royal, stated, "We <br />are very pleased to acquire this interest in a <br />currently producing mine that we consider to be well <br />operated. The purchase is another step in Royal's <br />development: of a well balanced gold production <br />business." <br />Royal Resources Corporation is a publicly-held <br />company ba:>ed in Denver, Colorado and is engaged in <br />the exploration, development and production of gold. <br />END <br />