ROMARCO ANNOUNCES IN-SHELL RESOURCE ESTIMATE

TORONTO, Nov. 2 /CNW/ -- 
TRADING SYMBOL: TSX-V: R


TORONTO, Nov. 2 /CNW Telbec/ - ROMARCO MINERALS INC. (TSX-V: R) (the
 "Company") is pleased to announce an updated resource estimate for its wholly-owned Haile Gold Mine in South
 Carolina, USA. A US$1,200 economic shell was constructed for
 calculating recoverable gold that includes both gold price and recovery
 factors. The mineralized material contained within that shell is the
 resource reported. This resource estimate does not include portions of
 the Horseshoe, Snake, Ledbetter, and South Pit zones, as this
 mineralized material lies outside the current economic shell.  The
 in-shell resource comprises 3.1 million ounces of gold in the measured
 and indicated category with an additional 1.1 million inferred ounces
 of gold above a 0.411 g/t (0.012 oz/t) cutoff grade.  This cutoff grade
 corresponds with a gold price of US$1,200 per ounce.  See table below
 for details.


Highlights of the in-shell gold resource are:


    --  Measured and indicated resources increased 44% from 2.2 million
        ounces of gold to 3.1 million ounces of gold
    --  Measured and indicated resource grade increased 21% to 1.82 g/t
    --  Measured resources account for 54% of the M&I resources
    --  Inferred resources declined by 46% given the conversion of
        inferred to indicated
    --  Inferred resource grade increased by 33% to 1.34 g/t gold
    --  Total tonnes of measured and indicated material increased by
        20% from 44.6 million metric tonnes to 53.4 million metric
        tonnes.



The table below illustrates the tonnage, grade, and in-shell,
 recoverable ounces at US$1,200 gold:






 _________________________________________________________________
|Resources Calculated with the US$1,200 Pitshell - Cutoff is 0.012|
|                            oz Au/ton                            |
|_________________________________________________________________|
|                  |  Metric Units |  Imperial Units |            |
|__________________|_______________|_________________|____________|
|                  |Metric |       |Short tons|      |Contained oz|
|                  |tonnes |g/tonne| (000's)  |Oz/ton| Au (000's) |
|       Category   |(000's)|       |          |      |            |
|__________________|_______|_______|__________|______|____________|
|Measured          | 27,782|   1.89|    30,624| 0.055|       1,684|
|__________________|_______|_______|__________|______|____________|
|Indicated         | 25,596|   1.75|    28,215| 0.051|       1,439|
|__________________|_______|_______|__________|______|____________|
|Measured+Indicated| 53,378|   1.82|    58,839| 0.053|       3,123|
|__________________|_______|_______|__________|______|____________|
|Inferred Resource | 24,944|   1.34|    27,496| 0.039|       1,072|
|__________________|_______|_______|__________|______|____________|




The mineral resource estimate has been calculated using the Canadian
 Institute of Mining, Metallurgy and Petroleum ("CIM") Definitions
 Standards for mineral resources in accordance with National Instrument
 43-101 - Standards of Disclosure for Mineral Projects.


This resource includes only portions of the recently discovered
 Horseshoe zone.  Although portions of Horseshoe are included in the
 US$1,200 shell, a tradeoff study will determine if Horseshoe should be
 mined as a pit or as an underground target.  As this study is currently
 in progress, Horseshoe is unlikely to be included in the reserve and
 the feasibility study due in the first quarter 2011.  Additional
 drilling will also help define Horseshoe, which remains open in all
 directions and at depth.


The economic resource shell does not include the following:


    --  Deep Horseshoe Zone. This zone has not been drill defined along
        strike and down dip. In addition, a potential new zone of
        mineralization may exist south of the main Horseshoe/Snake
        trend and at least one drill hole has encountered
        mineralization in this area.
    --  Snake Deep Zone. Several drill holes have intersected
        mineralization in the down dip extensions of the Snake deposit
        and these areas lie beneath the resource shell. Additional
        drilling is planned for this area.
    --  West Ledbetter. Some drill hole intercepts recently released
        lie below the resource shell. Additional drill testing will be
        conducted to determine the extent of this zone.
    --  West South Pit. The strike extent of the West South Pit extends
        beyond the resource shell. Step-out drilling is planned to test
        the western extent along strike.



The tables below demonstrates the breakdown of tonnage and grade in each
 known zone at US$1,200 gold:





 _________________________________________________________________________
|         |                Metric Units - Cutoff is 0.411 g Au/tonne      |
|_________|_______________________________________________________________|
|   Zone  |     Measured  |    Indicated  |   Measured +  |     Inferred  |
|         |               |               |    Indicated  |               |
|_________|_______________|_______________|_______________|_______________|
|         |Ktonnes|g/tonne|Ktonnes|g/tonne|Ktonnes|g/tonne|Ktonnes|g/tonne|
|_________|_______|_______|_______|_______|_______|_______|_______|_______|
|         |       |       |       |       |       |       |       |       |
|South    |       |       |       |       |       |       |       |       |
|Ledbetter| 13,090|   1.51| 10,226|   1.21| 23,316|   1.38| 12,183|   1.12|
|         |  5,781|   2.78|  6,859|   2.02| 12,640|   2.37|  6,296|   1.21|
|Snake    |  6,291|   2.23|  3,520|   1.54|  9,811|   1.98|  2,996|   1.65|
|Horseshoe|     - |     - |  3,480|   3.39|  3,480|   3.39|  1,328|   4.22|
|         |  2,620|   0.98|  1,511|   0.84|  4,131|   0.93|  2,142|   0.74|
|Adjacent |       |       |       |       |       |       |       |       |
|Areas    |       |       |       |       |       |       |       |       |
|_________|_______|_______|_______|_______|_______|_______|_______|_______|
|Totals   | 27,782|   1.89| 25,596|   1.75| 53,378|   1.82| 24,944|   1.34|
|_________|_______|_______|_______|_______|_______|_______|_______|_______|
|         |               Imperial Units - Cutoff is 0.012 oz Au/ton      |
|_________|_______________________________________________________________|
|   Zone  |     Measured  |    Indicated  |   Measured +  |     Inferred  |
|         |               |               |    Indicated  |               |
|_________|_______________|_______________|_______________|_______________|
|         | Ktons |Oz/ton | Ktons |Oz/ton | Ktons |Oz/ton | Ktons |Oz/ton |
|_________|_______|_______|_______|_______|_______|_______|_______|_______|
|         |       |       |       |       |       |       |       |       |
|South    |       |       |       |       |       |       |       |       |
|Ledbetter| 14,429|  0.044| 11,272|  0.035| 25,701|  0.040| 13,429|  0.033|
|         |  6,372|  0.081|  7,561|  0.059| 13,933|  0.069|  6,940|  0.035|
|Snake    |  6,935|  0.065|  3,880|  0.045| 10,815|  0.058|  3,302|  0.048|
|Horseshoe|     - |     - |  3,836|  0.099|  3,836|  0.099|  1,464|  0.123|
|         |  2,888|  0.028|  1,666|  0.025|  4,554|  0.027|  2,361|  0.021|
|Adjacent |       |       |       |       |       |       |       |       |
|Areas    |       |       |       |       |       |       |       |       |
|_________|_______|_______|_______|_______|_______|_______|_______|_______|
|Totals   | 30,624|  0.055| 28,215|  0.051| 58,839|  0.053| 27,496|  0.039|
|_________|_______|_______|_______|_______|_______|_______|_______|_______|




Note: Ktonnes = Metric Tonnes x 1,000 and Ktons = Short Tons x 1,000.


The table below represents the contained gold ounces by zone within a
 US$1,200 gold economic shell:




 __________________________________
|              |   M&I   |Inferred |
|       Zone   |Contd kOz|Contd kOz|
|______________|_________|_________|
|              |         |         |
|South         |    1,036|      435|
|Ledbetter     |      959|      248|
|Snake         |      625|      158|
|Horseshoe     |      380|      180|
|Adjacent Areas|      123|       51|
|______________|_________|_________|
|Totals        |    3,123|    1,072|
|______________|_________|_________|




Adjacent Areas consist of the Champion and 601 zones which contain
 historic ounces and are west of the South Pit.  Recent drilling at
 these zones is extremely limited and all zones have shown potential for
 expansion.


Cross section diagrams including US$1,200 economic shells can be found
 on the Company's website (www.romarco.com) or here: http://romarco.com/projects/index.php?&content_id=331


The updated resource estimate includes approximately 106,900 meters of
 new drilling in 306 core and reverse circulation holes drilled between
 September 6, 2009 and September 30, 2010.   From January 1, 2010 to
 September 30, 2010 approximately 71% of holes were exploration holes
 and 29% were for condemnation.


The updated resource block model will be used in the Feasibility Study
 currently underway for an open pit mining operation.  The Feasibiiity
 study, being conducted by M3 Engineering & Technology Corporation, is
 expected to be completed in the first quarter of 2011. Exploration
 drilling will continue throughout the Haile mineralized system which
 continues to remain open in all directions and at depth.  The Company
 has nine (9) drill rigs active on exploration (4 core and 5 rc)


A new reserve estimate will be performed in conjunction with the
 feasibility study and will include drilling data from October 2008 that
 was the basis of the last reserve estimate (see press release dated
 February 3, 2009). The feasibility study will use a US$950 gold price
 for calculating reserves.


Jim Arnold, Sr. VP and COO stated, "The fact that this resource
 calculation includes both economic and recovery restrictions is
 significant.  Past resource calculations were restricted only by
 cutoff, so the fact that 3.1 million ounces measured and indicated plus
 1.1 million ounces inferred fall within an economic shell is also very
 significant."


Diane Garrett, President and CEO commented, "Romarco is pleased to
 provide these interim results showing the effectiveness of the on-going
 deposit definition and exploration drilling at our Haile Project.
 Increasing the measured and indicated resource by 956,000 ounces of
 gold from December 2009 to September 2010 demonstrates the significant
 potential that continues to exist at Haile".


The resource calculations were completed by Independent Mining
 Consultants of Tucson, Arizona under the direction of Mr. John Marek,
 PE, an independent Qualified Person ("Q.P.") pursuant to National
 Instrument ("NI") 43-101.


The NI 43-101 Technical Report is currently in process and will be SEDAR
 filed soon.  All Q.P. individuals have reviewed and approved this press
 release.


For a full discussion of the Company's sampling, analysis, quality
 assurance, quality control, and other technical disclosure, please see
 the Company's NI 43-101 Technical Report dated December 3, 2009 and
 revised April 1, 2010 on SEDAR.  Romarco's Qualified Person under NI
 43-101 is Peter J. Butterfield, senior geologist at Haile.


About Romarco Minerals Inc. 


Romarco Minerals Inc. is a gold development company focused on
 production in the US and Mexico.  The Company's flagship project is the
 Haile Gold Mine in South Carolina which is currently in the process of
 a feasibility study and continued exploration drilling. The Pinos Gold
 District in Mexico is a high grade epithermal vein district in the
 advanced exploration stage.






"Neither the TSX Venture nor its regulation services provider (as that
 term is defined in the policies of the TSX Venture Exchange) accepts
 responsibility for the adequacy or accuracy of this release"


To view this news release in HTML formatting, please use the following URL: http://www.cnw.ca/en/releases/archive/November2010/02/c8081.html



table valign="top" border="0"tr valign="top"td align="left"Romarco Minerals Inc.br/ Diane Garrett, President and CEObr/ Phone: [phone]br/ E-mail: a href="mailto:[e-mail]"[e-mail]/a/td td align="left"Dan Symons, Manager, Investor Relationsbr/ Phone: [phone]br/ Email: a href="mailto:[e-mail]"[e-mail]/a/td/tr tr valign="top"td /td td /td/tr trtd align="left" colspan="2"Renmark Financial Communications Inc.br/ Maurice Dagenais 514-939-3989 or via email at a href="mailto:[e-mail]"mdagenais@renmarkfinancial.c/aa href="mailto:[e-mail]"om/a/td/tr/table p align="justify"Please note:/p p align="justify"This entire press release may be accessed via fax, e-mail, Romarco's  website at a href="http://www.romarco.com"www.romarco.com/a and through CNW Group's website at www.newswire.ca. All material  information on Romarco Minerals Inc. can be found at www.sedar.com/p br/

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