Romarco Announces $20,520,000 Bought Deal Private Placement Financing

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT
INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN
THE UNITED STATES.


ROMARCO MINERALS INC. (TSX VENTURE:R) (the "Company") announced today that it
has entered into a bought deal private placement offering with a syndicate of
underwriters led by Macquarie Capital Markets Canada Ltd. and including Paradigm
Capital Inc. and GMP Securities L.P. (collectively the "Underwriters"). Under
the agreement, the Underwriters will purchase 54,000,000 Units of the Company at
a price of $0.38 per Unit ("the Offering Price") for gross proceeds of
$20,520,000 (the "Offering"). Each Unit will consist of one common share of
Romarco (a "Unit Share") and one-half of one common share purchase warrant (each
full warrant, a "Warrant"), each full Warrant being exercisable to acquire one
common share of Romarco at a purchase price of $0.60 for a period of 24 months
following the Closing Date. The Company has agreed to grant the Underwriters an
option to purchase up to an additional 8,100,000 Units at a price of CDN$0.38
per Unit for additional aggregate gross proceeds to Romarco of CDN$3,078,000,
exercisable at any time in whole or in part up to 48 hours prior to the Closing
Date. If this option is exercised in full, the aggregate gross proceeds to
Romarco will be CDN$23,598,000.


Romarco will use the net proceeds from the Offering to fund the continued
exploration and development of the Haile Gold Mine and for general corporate and
working capital purposes.


The Offering is expected to close on March 3, 2009 (the "Closing Date") and is
subject to certain conditions including the receipt of all necessary approvals,
including the approval of the Toronto Venture Exchange. The Unit Shares, the
Warrants and the common shares issuable on the exercise of the Warrants will be
subject to a hold period of four months plus one day after the Closing Date.


The Underwriters will receive a commission of 6.0% of the gross proceeds raised
in the private placement in cash. The Underwriters will also receive
compensation options (the "Compensation Options") equal to 6.0% of that number
of Units issued in connection with the private placement. Each Compensation
Option will entitle the Underwriters to purchase one Unit of the Company at the
Offering Price for a period of 24 months following the Closing Date.


This press release is not an offer to sell or the solicitation of an offer to
buy the securities, nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to qualification or registration under the securities laws of such jurisdiction.
The securities being offered have not been, nor will they be, registered under
the United States Securities Act of 1933, as amended, and such securities may
not be offered or sold within the United States or to, or for the account or
benefit of, U.S. persons absent registration or an applicable exemption from
U.S. registration requirements.


About Romarco Minerals Inc.

Romarco Minerals Inc. is a gold development company focused on production. The
Company's flagship project is the Haile Gold Mine in South Carolina which is
currently undergoing exploration drilling, bankable feasibility study and
permitting. The Pinos Gold District in Mexico is a high grade epithermal vein
district that is in the advanced exploration stage. The Company also has a gold
exploration project in Nevada.


FORWARD-LOOKING INFORMATION

Certain statements contained in this market release constitute forward-looking
information, future oriented financial information, and financial outlooks
(collectively forward-looking information) within the meaning of Canadian
securities laws. Forward-looking information may relate to the matters discussed
in this market release and other matters identified in Romarco's public filings,
Romarco's future outlook and anticipated events or results and, in some cases,
can be identified by terminology such as "may", "will", "should", "expect",
"anticipate", "believe", "intend", "estimate", or other similar expressions
concerning matters that are not historical facts. Forward-looking information in
this market release includes the completion of the offering, the obtaining of
TSXV and other regulatory approvals.


ON BEHALF OF ROMARCO MINERALS INC.

Diane R. Garrett, President and C.E.O.
Romarco Minerals Inc. (TSXV:R)
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