VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- July 13, 2006 -- ROMARCO MINERALS INC. (TSX VENTURE: R) is pleased to announce that it has signed a binding Letter of Intent with Miranda Gold Corp. ("Miranda") (TSX VENTURE: MAD) whereby Romarco may earn a joint venture interest in the Red Canyon property, located in the Cortez Trend of Nevada.

Romarco will immediately begin an aggressive exploration program at Red Canyon led by Dr. Tommy Thompson, V.P. Exploration for Romarco. Romarco is pleased to partner with Miranda and their outstanding technical team on this project and believe both Romarco and Miranda shareholders will greatly benefit from this partnership in developing the project.

The Red Canyon Project comprises 237 unpatented lode mining claims covering approximately 19.8 square kilometres (7.7 square miles). The property lies in the Cortez Trend and is situated between US Gold's Tonkin Springs project (1.68M oz Au) and the Gold Bar deposit (1.6M oz Au) and north of Romarco's Roberts Mountains Project.

Historic exploration has identified four areas of gold mineralization. These are the Ice, Sage, Gexa Knob and Red zones. One of the best drill intercepts in the Ice Zone (drill hole KR-001 - Kennecott) is 29 meters of 4.0 g/t gold (95 feet of 0.12opt gold) from 6 to 35 meters (20-115 feet). The highest-grade sample over a 5 foot interval is 10.8 g/t gold (0.32 opt gold). The majority of the prior drilling was very shallow (less than 160 meters). Newmont's recent drilling identified previously unrecognized deeper gold mineralization associated with strong oxidation and silicification. Romarco will be following up on these previously drilled targets as well as other target areas identified on the project.

Under the terms of the Letter of Intent, to be replaced by a definitive option agreement, Romarco can earn a 60% interest by spending US$3,000,000 over five years. A work expenditure of US$400,000 is obligated in the first year and escalates in following years. Romarco may then elect to earn an additional 10% interest (for a total of 70%) by funding a Bankable Feasibility Study.

ON BEHALF OF ROMARCO MINERALS INC.

Diane R. Garrett, President and C.E.O.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release, which has been prepared by management.
Contacts:
Romarco Minerals Inc.
Diane Garrett
President and C.E.O.
(830) 634-7489
dgarrett@romarco.com