Polygon Mining Opportunity Master Fund Reports Sale of Shares of Royal Road Minerals Limited

NEW YORK, Oct. 12, 2017 /CNW/ - Polygon Mining Opportunity Master Fund (the "Fund") announced today that it sold, on October 11, 2017, the remaining 11,104,400 ordinary shares (the "Shares") that it owned in the capital of Royal Road Minerals Limited ("Royal Road Minerals") through the facilities of the Toronto Stock Exchange at a price of CDN$0.105 per Share, for aggregate gross proceeds of CDN$1,165,962 (the "Sale"). The 11,104,400 Shares disposed of by the Fund represent approximately 8.27% of the issued and outstanding Shares on a non-diluted basis. The Fund is an exempt company existing under the laws of the Cayman Islands that operates as a private investment fund which invests primarily in mining companies and other mineral related businesses and opportunities.

Immediately after the Sale, the Fund no longer owned any Shares but continued to own 3,250,000 Share purchase warrants each entitling the Fund to acquire one Share at a price of CDN$0.20 until April 19, 2019 (the "Warrants"), representing approximately 2.4% of the issued and outstanding Shares on a partially-diluted basis. Prior to the Sale, the Fund owned 11,104,400 Shares and 3,250,000 Warrants, representing 8.27% of the issued and outstanding Shares on a non-diluted basis and 10.44% of the issued and outstanding Shares on a partially-diluted basis.

The Fund proceeded with the Sale for investment purposes. The Fund may, depending on its investment objectives and duration, as well as market and other conditions, dispose of its Warrants in the open market or in privately negotiated transactions (or exercise the Warrants and hold or likewise dispose of the underlying ordinary shares) from time to time.

The head office of Royal Road Minerals is located at Suite 30, 4 Wharf Street, St. Helier, Jersey JE2 3NR.

This news release is issued in accordance with the early warning requirements under applicable Canadian securities laws. A copy of the early warning report required to be filed will be available under the profile of Royal Road Minerals on the System for Electronic Document Analysis and Retrieval at www.sedar.com.

For further information or to obtain a copy of the related early warning reports, please contact:

Polygon Global Partners LLP
4 Sloane Terrace
London SWIX 9DQ
United Kingdom

SOURCE Polygon Mining Opportunity Master Fund