Colombian Mining & Exploration
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Royal Road Minerals (TSXV: RYR)

Royal Road Minerals (TSXV: RYR) is a copper-gold explorer whose main Colombian asset is the GAM project west of Medellín, bought from AngloGold Ashanti. For followers of Royal Road Minerals stock, 2026 has been about long porphyry intercepts at Güíntar, a high-grade silver-antimony vein system at Margaritas and new funding to drill toward a first resource.

Tickers: TSXV: RYR | OTCQB: RRDMF | FSE: RLU · Headquarters: St Helier, Jersey (Channel Islands) · Data as of: Nov 4, 2026

Royal Road Minerals at a glance

ProjectDepartmentCommodityStageOwnership
GAM (Güíntar-Alemán-Margaritas)Antioquiagold, copper, silver, antimonyadvanced explorationGüíntar and Margaritas 100%; Chuscalita option to earn 80%; El Alemán under option to earn 100%
Southern Block (Cauca and Nariño)Nariño / Caucagold, copperearly explorationTitles and applications (percentage not disclosed in sources reviewed)
Market capAbout C$58 million (TipRanks, page updated Oct 15, 2026); refresh at publication
Shares outstandingAbout 331.2 million (TipRanks, page updated Oct 15, 2026)
2026 financingsC$7.305M brokered offering at C$0.20 (closed Jul 28, 2026) + C$1.0M placement at C$0.20 (closed Sep 9, 2026)
Colombian landAbout 1,840 km² of titles and applications (Sept 2026)
FlagshipGAM (Güíntar-Alemán-Margaritas), Antioquia
Mineral resourceNone yet; company is working toward a maiden resource at Güíntar

About Royal Road Minerals

Royal Road Minerals is a Jersey-based explorer with a technical team in Colombia. It hunts for large copper-gold deposits in under-explored belts. Colombia is the core of the business, with about 1,840 km² of concession contracts and applications split between a Northern Block in Antioquia’s Middle Cauca Belt and a Southern Block in Cauca and Nariño.

The lead project is GAM (Güíntar-Alemán-Margaritas), about 50 km west of Medellín in Antioquia. Royal Road got the Güíntar and Margaritas concessions by buying Northern Colombia Holdings from AngloGold Ashanti, announced in 2019. El Alemán and Chuscalita are held through options to earn interests from local titleholders.

Outside Colombia, Royal Road explores in Saudi Arabia through Royal Road Arabia, a 50:50 joint venture with Jeddah-based MIDU Company, and holds the Lalla Aziza project in Morocco.

The company raised C$7.3 million in a brokered offering in July 2026 and a further C$1.0 million in September 2026, both at C$0.20 per share, mainly to expand drilling at GAM.

Royal Road Minerals’s Colombian projects

GAM (Güíntar-Alemán-Margaritas)

GAM lies about 50 km west of Medellín. Güíntar is a porphyry-skarn system. A porphyry is a large, low-to-moderate grade copper-gold deposit formed around an intrusion; skarn is mineralized rock formed where such intrusions meet limestone-type rocks. Royal Road says Güíntar runs from surface to more than 450 m depth and could suit bulk underground mining. Highlights include 176 m at 1.2 g/t gold equivalent (GUI-DD-028, March 2026) and 96 m at 1.1 g/t gold equivalent (GUI-DD-032, May 2026). Royal Road reprocessed AngloGold Ashanti’s historical holes alongside its own.

The Chuscalita title next to Güíntar was granted as a 30-year concession effective January 5, 2026. Royal Road can earn 80% by paying US$1.125 million. The titleholders keep 20%, carried to a feasibility study and then converted to a 2% NSR royalty.

Margaritas hosts high-grade silver-gold-antimony veins as well as signs of a porphyry. Earlier holes returned 4 m at 631 g/t silver and 0.47% antimony, and October 2026 surface sampling expanded the vein system. El Alemán, about 500 m from Güíntar, is a gold vein target. A surface channel returned 51 m at 1.12 g/t gold, and an earlier hole cut 80.5 m at 1.0 g/t gold from 323 m depth.

None of the drilled intervals are reported as true widths.

Resources: No mineral resource yet.

Southern Block (Cauca and Nariño)

Royal Road holds more than 750 km² of titles and applications in Nariño, which it sees as prospective for intrusion-related gold and porphyry copper. In March 2026 it signed a non-binding, two-year memorandum of understanding with the Nariño departmental government on responsible exploration, formalizing artisanal and small-scale mining and community engagement. The company is working with government and communities to reopen these areas to exploration and has given no drilling timeline.

Resources: No mineral resource yet.

Latest Royal Road Minerals news

Upcoming catalysts

  • Results from Güíntar drilling at Platforms 19 and 20 (under way since Sept 2026)
  • Maiden mineral resource at Güíntar (company goal; no timing given)
  • First drilling to test El Alemán continuity between surface and depth
  • Drilling of expanded Margaritas veins and the porphyry target to the northeast
  • Exercise of the Chuscalita option (US$1.125M payment for 80%)
  • Progress on reopening the Nariño and Cauca Southern Block to exploration

Management

  • Dr. Tim Coughlin, President & CEO. Also Qualified Person for technical disclosure

Key risks for Royal Road Minerals stock

  • No resource yet: grades in the 0.6–1.2 g/t gold-equivalent range need size and a workable mining method to be economic.
  • Equivalent grades combine gold, copper and silver at assumed prices and recoveries, which can flatter results.
  • Option payments and carried interests mean Royal Road will not own 100% of every GAM title (for example, 80% of Chuscalita).
  • Funding and dilution: recent raises were at C$0.20 per share, and further drilling will need more capital.
  • Southern Block access depends on government and community agreements in Nariño and Cauca, where security has been an issue.
  • Attention split across Colombia, Saudi Arabia and Morocco.

Sources

Related: Colombian stocks · Companies & Projects tracker · Colombian exploration companies

Educational information only, not investment advice. Figures are from the sources listed and dated; check the company’s latest filings before relying on them. See our Disclosure & Editorial Policy.