UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-Q

(Mark One)

[ X ] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended ~~January~~July 31, 2017

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ________ to ________

COMMISSION FILE NUMBER 000-52391

ROYAL MINES AND MINERALS CORP.
(Exact name of registrant as specified in its charter)

NEVADA	20-4178322
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
1080 Wigwam Pkwy.
Henderson, NV	~~89074~~89072
(Address of principal executive offices)	(Zip code)

(702) 588-5973 (Registrant's telephone number, including area code)

Not Applicable
(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (s. 229.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes [X] No [ ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer [ ]	Accelerated filer [ ]
Non-accelerated filer [ ] (Do not check if a smaller reporting company)	Smaller reporting company [X]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [ ] No [X]

Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date: As of September ~~March 14~~13, 2017, the Registrant had 245,199,204 shares of common stock outstanding.

~~EXPLANATORY~~Indicate ~~NOTE~~by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b -2 of this chapter).

~~Our~~Emerging ~~Board~~growth ofcompany ~~Directors,~~[ in] consultation with management, determined that our Balance Sheet as of April 30, 2015, contained in our annual report on Form 10-K for the year ended April 30, 2015, should be restated due to default of payment on equipment leased in our Scottsdale Facility.

~~This~~If ~~restatement~~an ~~had~~emerging angrowth ~~impact~~company, onindicate ~~our~~by ~~Condensed~~check ~~Statements~~mark ofif the ~~Operations~~registrant ~~and~~has ~~Comprehensive~~elected ~~Loss,~~not ~~and~~to ~~Condensed~~use ~~Statements~~the ofextended ~~Cash~~transition ~~Flows~~period for complying ~~the~~with ~~three~~any ~~and~~new ~~nine~~or ~~months~~revised ~~ended~~financial ~~January~~accounting ~~31,~~standards ~~2016.~~provided ~~For~~pursuant ~~additional background on~~to ~~the~~Section ~~restatement,~~13(a) ~~please~~of ~~see~~the ~~Note~~Exchange 15Act ~~to our Financial Statements.~~

~~Effects~~[ of] ~~the Restatement Due to Default of Payment of Leased Equipment~~

The following table provides a summary of selected line items from our condensed statements of operations and comprehensive loss, and condensed statements of cash flows for the three and nine months ended January 31, 2016 affected by this restatement.

		As Previously			Restatement
		Reported			Adjustments			As Restated
Statement of Operations and Comprehensive Loss –
For the Three Months Ended January 31, 2016
Mineral exploration and evaluation expenses	$	100,618		$	(9,884	)	$	90,734
Total operating expenses	$	290,989		$	(9,884	)	$	281,105
Loss from operations	$	290,989		$	(9,884	)	$	281,105
Net loss	$	314,071		$	(9,884	)	$	304,187
Comprehensive loss	$	314,071		$	(9,884	)	$	304,187
Statement of Operations and Comprehensive Loss –
For the Nine Months Ended January 31, 2016
Mineral exploration and evaluation expenses	$	257,263		$	(34,986	)	$	222,277
Total operating expenses	$	668,097		$	(34,986	)	$	633,111
Loss from operations	$	668,097		$	(34,986	)	$	633,111
Net loss	$	730,748		$	(34,986	)	$	695,762
Comprehensive loss	$	730,748		$	(34,986	)	$	695,762
Statement of Cash Flows – For the Nine Months Ended
January 31, 2016
Net loss	$	730,748		$	(34,986	)	$	695,762
Accounts payable	$	43,274		$	(47,504	)	$	(4,230	)
Deferred rent	$	(12,518	)	$	12,518		$	-

Except for certain updated information in the items listed above, there have been no changes to the condensed financial statements filed in our quarterly report on Form 10-Q for the three and nine months ended January 31, 2016.

PART I - FINANCIAL INFORMATION

ITEM 1.

FINANCIAL STATEMENTS.

The accompanying unaudited financial statements have been prepared in accordance with the instructions to Form 10-Q and Rule 8-03 of Regulation S-X, and, therefore, do not include all information and footnotes necessary for a complete presentation of financial position, results of operations, cash flows, and stockholders' ~~equity~~deficit in conformity with generally accepted accounting principles. In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included and all such adjustments are of a normal recurring nature. Operating results for the three ~~and nine~~ months ended ~~January~~ July 31, 2017 are not necessarily indicative of the results that can be expected for the year ending April 30, ~~2017~~2018.

As used in this Quarterly Report, the terms “we,” “us,” “our,” “Royal Mines,” and the “Company” mean Royal Mines ~~and~~And Minerals Corp., unless otherwise indicated. All dollar amounts in this Quarterly Report are expressed in U.S. dollars, unless otherwise indicated.

ROYAL MINES AND MINERALS CORP. CONDENSED BALANCE SHEETS

		January 31, 2017			April 30, 2016
		July 31, 2017			April 30, 2017
		(Unaudited)
ASSETS
Current assets
Cash and cash equivalents	$	82,~~551~~975		$	6012,087
Prepaid expenses		~~6,086~~-			-6,086
Total current assets		142,~~637~~975			6018,173
Non-current assets
Investment in marketable securities		-			216,648
Property and equipment, net		47,952			52,693
Property and equipment, net		57,435			97,059
Other assets		7,655			7,655
Total non-current assets		6555,~~090~~607			~~321~~60,~~362~~348
Total assets	$	7958,~~727~~582		$	~~321~~78,~~422~~521
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities
Accounts payable	$	~~325~~343,~~675~~365		$	~~356~~324,~~561~~613
Accounts payable - related parties		~~422~~445,~~562~~705			~~375~~446,~~465~~258
Accrued interest		~~110~~122,~~423~~372			92116,~~204~~299
Accrued interest - related parties		~~286~~350,~~519~~598			~~206~~316,~~581~~861
Loans payable		108,030			98,030
Convertible loans payable		268,030			258,030
Loans payable - related parties		1,177,000			878,000
Convertible loans payable - related parties		204,000			128,000
Convertible note		150,000			150,000
Convertible notes payable		50,000			50,000
Notes payable		50,000			50,000
Total current liabilities		1,784,070			1,640,061
Total current liabilities		2,630,209			2,206,841
Convertible loans payable - related parties		1,149,000			1,149,000
Total liabilities		2,630,209			2,206,841
Total non-current liabilities		1,149,000			1,149,000
Total liabilities		2,933,070			2,789,061
Commitments and contingencies
Stockholders' deficit
Preferred stock, $0.001 par value; 100,000,000 shares authorized, zero shares issued and outstanding		-			-
Common stock, $0.001 par value; 900,000,000 shares authorized, 245,199,204 and 228,793,634 shares issued and outstanding, respectively		245,199			228,794
Common stock, $0.001 par value; 900,000,000 shares authorized, 245,199,204 shares issued and outstanding		245,199			245,199
Additional paid-in capital		16,~~588~~614,~~093~~280			16,~~430~~614,~~134~~280
Subscriptions payable		-			10,000
Accumulated deficit		(19,733,967	)		(19,570,019	)
Accumulated deficit		(19,383,774	)		(18,554,347	)
Total stockholders' deficit		(2,874,488	)		(2,710,540	)
Total stockholders' deficit		(2,550,482	)		(1,885,419	)
Total liabilities and stockholders' deficit	$	58,582		$	78,521
Total liabilities and stockholders' deficit	$	79,727		$	321,422

See accompanying notes to these condensed unaudited financial statements. F-1

ROYAL MINES AND MINERALS CORP. CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (~~UNAUDITED~~Unaudited)

		For the Three Months Ended January 31,						For the Nine Months Ended January 31,
		For the Three Months Ended July 31,
		2017			2016			~~2017~~			~~2016~~
					(Restated)						(Restated)
Revenue	$	-		$	-
Revenue	$	-		$	-		$	-		$	-
Operating expenses:
Operating expenses:
Mineral exploration and evaluation expenses		51,039			57,856
Mineral exploration and evaluation expenses		56,905			90,734			169,806			222,277
Mineral exploration and evaluation expenses - related parties		15,000			15,000
Mineral exploration and evaluation expenses - related parties		15,000			15,000			45,000			45,000
General and administrative		17,038			30,542
General and administrative		25,740			42,117			85,904			97,273
General and administrative - related parties		36,000			34,000
General and administrative - related parties		36,000			37,000			105,000			108,000
Depreciation and amortization		4,741			17,441
Depreciation and amortization		4,741			17,441			39,624			52,324
Total operating expenses		123,818			154,839
Loss in marketable securities on joint venture settlement		-			-			189,567			-
Loss from operations		(123,818	)		(154,839	)
Loss on joint venture settlement		-			-			106,966			-
Other expense:
Other than temporary loss on marketable security		-			78,813			-			107,200
Interest expense		(40,130	)		(31,156	)
Bad debt expense		-			-			-			1,037
Total other expense		(40,130	)		(31,156	)
Gain on sale of marketable securities		-			-			(13,199	)		-
Net loss	$	(163,948	)	$	(185,995	)
Total operating expenses		138,386			281,105			728,668			633,111
Other comprehensive gain:
Loss from operations		(138,386	)		(281,105	)		(728,668	)		(633,111	)
Unrealized gain on marketable securities		-			4,248
Other expense:
Comprehensive (loss)	$	(163,948	)	$	(181,747	)
Interest expense		(7,000	)		(7,058	)		(20,088	)		(19,844	)
Net loss per common share - basic and diluted	$	(0.00	)	$	(0.00	)
Interest expense - related parties		(28,663	)		(16,024	)		(80,671	)		(42,807	)
Weighted average common shares outstanding - basic and diluted		245,199,204			228,793,634
Total other expense		(35,663	)		(23,082	)		(100,759	)		(62,651	)
Net loss	$	(174,049	)	$	(304,187	)	$	(829,427	)	$	(695,762	)
Other comprehensive loss:
Unrealized loss on marketable securities	$	-			-			-			-
Comprehensive (loss)	$	(174,049	)	$	(304,187	)	$	(829,427	)	$	(695,762	)
Net loss per common share - basic and diluted	$	(0.00	)	$	(0.00	)	$	(0.00	)	$	(0.00	)
Weighted average common shares outstanding - basic and diluted		245,199,204			228,793,634			236,336,402			228,793,634

See accompanying notes to these condensed unaudited financial statements. F-2

ROYAL MINES AND MINERALS CORP. CONDENSED STATEMENTS OF CASH FLOWS (~~UNAUDITED~~Unaudited)

		For the Nine Months Ended January 31,
		For the Three Months Ended July 31,
		2017			2016
					(Restated)
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$	(~~829~~163,~~427~~948	)	$	(~~695~~185,~~762~~995	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		394,~~624~~741			5217,~~324~~441
Stock-based expenses		399			7,352
Stock-based expenses - related parties		-			22,057
Allowance for bad debt		-			1,037
Other than temporary loss on marketable securities		-			107,200
Gain on sale of marketable securities		(13,199	)		-
Loss in marketable securities on joint venture settlement		189,567			-
Loss on joint venture settlement		106,966			-
Changes in operating assets and liabilities:
Prepaid expenses		(6,086	)		-
Accounts payable		(30,886	)		(4,230	)
Other current assets		-			(5,860	)
Accounts payable - related parties		47,097			69,551
Accounts payable		18,752			(1,107	)
Accrued interest		18,219			15,501
Accounts payable - related parties		(553	)		5,651
Accrued interest - related parties		79,937			42,557
Accrued interest		6,073			6,073
Net cash used in operating activities		(397,789	)		(382,413	)
Accrued interest - related parties		33,737			24,351
CASH FLOW FROM INVESTING ACTIVITIES
Net cash used in operating activities		(95,112	)		(139,446	)
Proceeds from sale of marketable securities		40,280			-
Net cash provided by investing activities		40,280			-
CASH FLOW FROM FINANCING ACTIVITIES
Proceeds from stock issuance		57,000			-
Proceeds from borrowings		10,000			-
Proceeds from borrowings - related parties		~~300~~76,000			~~380~~145,000
Payments on borrowings - related party		(1,000	)		-
Net cash provided by financing activities		86,000			145,000
Net cash provided by financing activities		366,000			380,000
NET CHANGE IN CASH		(9,112	)		5,554
NET CHANGE IN CASH		8,491			(2,413	)
CASH AT BEGINNING OF PERIOD		12,087			60
CASH AT BEGINNING OF PERIOD		60			10,860
CASH AT END OF PERIOD	$	2,975		$	5,614
CASH AT END OF PERIOD	$	8,551		$	8,447
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Interest paid	$	-189		$	~~668~~-
Income taxes paid	$	-		$	-
Market security used for joint venture settlement	$	193,284		$	-
NON-CASH INVESTING AND FINANCING ACTIVITIES
Unrealized gain on marketable securities	$	-		$	4,248

See accompanying notes to these condensed unaudited financial statements. F-3

ROYAL MINES AND MINERALS CORP. NOTES TO CONDENSED FINANCIAL STATEMENTS ~~JANUARY~~JULY 31, 2017 (UNAUDITED)

1. DESCRIPTION OF BUSINESS, HISTORY AND SUMMARY OF SIGNIFICANT POLICIES

1.	DESCRIPTION OF BUSINESS, HISTORY AND SUMMARY OF SIGNIFICANT POLICIES

	Basis of Presentation – The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Royal Mines and Minerals Corp’s (the “Company”) fiscal year-end is April 30.

	The accompanying unaudited financial statements have been prepared in accordance with the instructions to Form 10-Q and Rule 8-03 of Regulation S-X, and, therefore, do not include all information and footnotes necessary for a complete presentation of financial position, results of operations, cash flows, and stockholders' deficit in conformity with U.S. GAAP. In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included and all such adjustments are of a normal recurring nature. Operating results for the three months ended July 31, 2017 are not necessarily indicative of the results that can be expected for the year ending April 30, 2018.

	Description of Business – The Company's primary objectives are to 1) commercially and viably extract and refine precious metals from specific coal ash (fly and bottom), ores and other leachable assets, 2) use its proprietary processes to convert specific ore bodies and coal ash landfills into valuable assets, and 3) joint venture, acquire and develop mining projects in North America. The Company has not yet realized significant revenues from its primary objectives.

	History – The Company was incorporated on December 14, 2005 under the laws of the State of Nevada. On June 13, 2007, the Company incorporated a wholly-owned subsidiary, Royal Mines Acquisition Corp., in the state of Nevada.

	On October 5, 2007, Centrus Ventures Inc. (Centrus) completed the acquisition of Royal Mines Inc. (“Royal Mines”). The acquisition of Royal Mines was completed by way of a “triangular merger” pursuant to the provisions of the Agreement and Plan of Merger dated September 24, 2007 (the “First Merger Agreement”) among Centrus, Royal Mines Acquisition Corp. (“Centrus Sub”), a wholly owned subsidiary of Centrus, Royal Mines and Kevin B. Epp, the former sole executive officer and director of Centrus. On October 5, 2007, under the terms of the First Merger Agreement, Royal Mines was merged with and into Centrus Sub, with Centrus Sub continuing as the surviving corporation (the “First Merger”).

	On October 6, 2007, a second merger was completed pursuant to an Agreement and Plan of Merger dated October 6, 2007 (the “Second Merger Agreement”) between Centrus and its wholly owned subsidiary, Centrus Sub, whereby Centrus Sub was merged with and into Centrus, with Centrus continuing as the surviving corporation (the “Second Merger”). As part of the Second Merger, Centrus changed its name from “Centrus Ventures Inc.” to “Royal Mines And Minerals Corp.” (“the Company”). Other than the name change, no amendments were made to the Articles of Incorporation.

	Under the terms and conditions of the First Merger Agreement, each share of Royal Mines’ common stock issued and outstanding immediately prior to the completion of the First Merger was converted into one share of Centrus’ common stock. As a result, a total of 32,183,326 shares of Centrus common stock were issued to former stockholders of Royal Mines. In addition, Mr. Epp surrendered 23,500,000 shares of Centrus common stock for cancellation in consideration of payment by Centrus of $0.001 per share for an aggregate consideration of $23,500. As a result, upon completion of the First Merger, the former stockholders of Royal Mines owned approximately 69.7% of the issued and outstanding common stock.

	As such, Royal Mines is deemed to be the acquiring enterprise for financial reporting purposes. All acquired assets and liabilities of Centrus were recorded at fair value on the date of the acquisition, as required by the purchase method of accounting, and the tangible net liabilities were debited against equity of the Company. There are no continuing operations of Centrus from the date of acquisition.

Basis of Presentation – The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Royal Mines and Minerals Corp’s (the “Company”) fiscal yearF-~~end is April 30.~~ 6

~~The~~ROYAL ~~accompanying~~MINES ~~unaudited~~AND ~~financial statements~~MINERALS have been prepared in accordance with the instructions to Form 10-Q and Rule 8-03 of Regulation S-X, and, therefore, do not include all information and footnotes necessary for a complete presentation of financial position, results of operations, cash flows, and stockholders' deficit in conformity with UCORP.S. ~~GAAP.~~NOTES InTO ~~the~~CONDENSED ~~opinion~~FINANCIAL ofSTATEMENTS ~~management,~~JULY all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included and all such adjustments are of a normal recurring nature. Operating results for the nine months ended January 31, 2017 ~~are not necessarily indicative of the results that can be expected for the year ending April 30, 2017.~~ (UNAUDITED)

~~Description~~Going ofConcern ~~Business~~ – The accompanying financial statements were prepared on a going concern basis in accordance with U.S. GAAP. The going concern basis of presentation assumes that the Company's ~~primary~~will continue ~~objectives~~in ~~are~~operation for the next twelve months and will be able to 1)realize ~~commercially~~its assets and ~~viably~~discharge ~~extract~~its liabilities and commitments in the normal course of ~~refine~~ business ~~precious~~and ~~metals~~does ~~from~~not ~~specific~~include ~~coal~~any ~~ash~~adjustments ~~(fly~~to reflect the possible future effects on the recoverability and ~~bottom),~~classification ~~ores~~of assets or the amounts and classification ~~other~~of liabilities that may result from the Company’s inability to ~~leachable~~ continue ~~assets~~as a going concern. The Company’s history of losses, 2)working ~~use~~capital deficit, ~~its~~capital ~~proprietary~~deficit, ~~processes~~minimal liquidity and other factors raise substantial doubt about the Company’s ability to ~~convert~~continue ~~specific~~as ~~ore~~a going concern. In order for ~~bodies~~ the ~~and~~Company ~~coal~~to ~~ash~~continue ~~landfills~~operations ~~into~~beyond ~~valuable~~the ~~assets,~~next twelve months and 3)be ~~joint~~able ~~venture,~~to ~~acquire~~ discharge ~~and~~its ~~develop~~liabilities ~~mining~~and ~~projects~~commitments in ~~North~~the ~~America~~normal course of business it must raise additional equity or debt capital and continue cost cutting measures. There ~~The~~can be no assurance that the Company ~~has~~will ~~not~~be ~~yet~~able to achieve sustainable ~~realized~~ profitable ~~significant~~operations ~~revenues~~or ~~from~~obtain ~~its~~additional ~~primary~~funds ~~objectives.~~when needed or that such funds, if available, will be obtainable on terms satisfactory to management.

~~History~~If –the ~~The~~ Company ~~was~~continues to incur ~~incorporated~~ operating onlosses ~~December~~and 14does not raise sufficient additional capital, ~~2005~~material adverse ~~under~~events ~~the~~may ~~laws~~occur ofincluding, but not limited to, 1) a reduction in the nature ~~State~~and scope of ~~Nevada.~~the OnCompany’s ~~June 13,~~operations ~~2007,~~and 2) the Company’s ~~incorporated~~inability ato fully ~~wholly-owned~~implement ~~subsidiary,~~its ~~Royal~~current ~~Mines~~business plan. There can be no assurance that the ~~Acquisition~~ Company ~~Corp~~will successfully improve its liquidity position., inThe accompanying financial statements do not reflect any adjustments that might be required resulting from the ~~state~~adverse ofoutcome ~~Nevada~~relating to this uncertainty.

OnAs ~~October~~of 5July 31, ~~2007~~2017, ~~Centrus~~the ~~Ventures~~Company had ~~Inc.~~ cumulative ~~(Centrus)~~net ~~completed~~losses ~~the~~of ~~acquisition~~$19,733,967 offrom ~~Royal~~operations ~~Mines~~since ~~Inc.~~inception ~~(“Royal~~and ~~Mines”).~~had ~~The~~ negative ~~acquisition~~working capital of ~~Royal~~$1,781,095. ~~Mines~~For ~~was~~the ~~completed~~three bymonths ~~way~~ended ofJuly a31, 2017, ~~“triangular~~the ~~merger” pursuant~~Company toincurred ~~the~~a ~~provisions~~net loss of ~~the~~$163,948 ~~Agreement~~ and ~~Plan~~had ofnet ~~Merger~~cash ~~dated~~used ~~September~~in 24 operating activities of $95,112. ~~2007~~For (the ~~“First~~three ~~Merger~~months ~~Agreement”)~~ended ~~among~~July ~~Centrus~~31, ~~Royal~~2016 ~~Mines Acquisition~~the ~~Corp.~~ Company ~~(“Centrus~~incurred ~~Sub”),~~ a ~~wholly~~net ~~owned~~loss ~~subsidiary~~ of ~~Centrus~~$185,995 ~~Royal Mines~~ and ~~Kevin~~ B.had ~~Epp,~~net ~~the~~cash ~~former~~used ~~sole~~in ~~executive~~operating activities ~~officer and director~~ of ~~Centrus~~$139,446. ~~On October~~The 5,Company ~~2007,~~has ~~under~~not ~~the~~fully ~~terms~~started ofits ~~the~~minerals processing ~~First Merger Agreement~~operations, ~~Royal~~raising ~~Mines~~substantial ~~was merged~~doubt ~~with~~about ~~and~~its ~~into~~ability ~~Centrus~~to ~~Sub, with Centrus Sub continuing~~ continue as ~~the~~a ~~surviving corporation~~going ~~(the “First Merger”)~~concern.

OnTo ~~October~~address 6,liquidity ~~2007~~constraints, athe Company ~~second~~will ~~merger~~seek ~~was completed~~additional ~~pursuant~~sources toof ancapital ~~Agreement~~through ~~and~~the ~~Plan~~issuance of ~~Merger~~equity or ~~dated~~debt ~~October~~financing. 6Additionally, ~~2007 (~~the ~~“Second~~ ~~Merger~~Company ~~Agreement”)~~has ~~between~~reduced ~~Centrus~~expenses, ~~and~~elected ~~its~~to defer ~~wholly~~payment ~~owned~~of ~~subsidiary, Centrus~~certain ~~Sub~~obligations, ~~whereby~~deferred ~~Centrus~~payment ~~Sub~~of ~~was~~our ~~merged~~CEO’s ~~with~~salary and reduced ~~into~~staffing ~~Centrus,~~levels ~~with~~to ~~Centrus continuing~~conserve ascash. ~~the~~The ~~surviving~~Company ~~corporation~~is ~~(the~~focused ~~“Second~~on ~~Merger”).~~continuing to Asreduce ~~part~~costs ofand ~~the Second~~obtaining ~~Merger,~~additional ~~Centrus~~funding. ~~changed~~There ~~its~~is ~~name~~no ~~from~~assurance ~~“Centrus~~that such ~~Ventures~~funding ~~Inc.”~~will be available on terms acceptable to ~~“Royal Mines~~the ~~And~~Company, ~~Minerals~~or ~~Corp~~at all.~~”(“~~ If the Company~~”).~~ ~~Other~~raises ~~than~~additional ~~the~~funds ~~name~~by ~~change~~selling additional shares of capital stock, nosecurities convertible into shares of capital stock, or by issuing debt ~~amendments~~ convertible ~~were~~into ~~made~~shares toof capital stock, the ~~Articles~~ownership interest of ~~Incorporation~~the Company’s existing common stock holders will be diluted.

~~Under~~Use ~~the~~of ~~terms~~Estimates ~~and~~- ~~conditions~~The preparation of ~~the First~~financial ~~Merger~~statements ~~Agreement,~~in ~~each~~conformity ~~share~~with ofU.S. ~~Royal~~GAAP ~~Mines’~~requires management ~~common~~to ~~stock~~make ~~issued~~estimates and ~~outstanding~~ ~~immediately~~assumptions ~~prior~~that toaffect the ~~completion~~reported ofamounts ~~the First Merger was~~of ~~converted~~ assets ~~into~~and ~~one~~liabilities ~~share~~and disclosure of ~~Centrus’~~contingent ~~common~~assets ~~stock.~~and Asliabilities ~~a result, a total of~~at ~~32,183,326~~ the ~~shares~~date of ~~Centrus~~the ~~common~~financial ~~stock~~statements ~~were~~and ~~issued~~the toreported ~~former~~amounts ~~stockholders~~ of revenue and ~~Royal~~ expenses ~~Mines.~~during Inthe ~~addition,~~reporting Mrperiod. ~~Epp~~By ~~surrendered~~their 23nature,~~500,000~~ ~~shares~~these ofestimates ~~Centrus~~are ~~common~~ subject ~~stock~~to ~~for~~measurement ~~cancellation~~uncertainty inand ~~consideration~~the ofeffect ~~payment~~on bythe ~~Centrus~~financial ofstatements ~~$0.001~~of ~~per~~ changes ~~share~~in ~~for~~such anestimates ~~aggregate~~in ~~consideration~~future ofperiods ~~$23,500~~could be significant. AsSignificant areas arequiring ~~result,~~management’s ~~upon completion~~estimates ofand assumptions include the ~~First~~valuation ~~Merger~~of stock-based compensation, ~~the~~impairment ~~former~~analysis ~~stockholders~~ of ~~Royal~~long-lived ~~Mines~~assets, ~~owned~~and the ~~approximately~~ realizability ~~69.7%~~ of ~~the~~deferred ~~issued~~tax ~~and~~assets. ~~outstanding~~Actual ~~common~~results ~~stock~~could differ from those estimates.

AsCash ~~such, Royal Mines is deemed to be the acquiring enterprise for financial reporting purposes. All acquired assets~~ and ~~liabilities~~Cash ofEquivalents ~~Centrus~~- ~~were recorded at fair value on the date of the~~The ~~acquisition,~~ Company asconsiders ~~required~~all byinvestments ~~the~~with ~~purchase~~an ~~method~~original ofmaturity ~~accounting, and the tangible net liabilities were debited against equity~~ of ~~the~~three ~~Company.~~months ~~There are no~~or ~~continuing~~ less ~~operations~~to ofbe ~~Centrus~~a ~~from~~cash ~~the date of acquisition~~equivalent.

FProperty and Equipment -6 Property and equipment are stated at cost less accumulated depreciation. Depreciation is provided principally on the straight-line method over the estimated useful lives of the assets, which are generally 3 to 10 years. The cost of repairs and maintenance is charged to expense as incurred. Expenditures for property betterments and renewals are capitalized. Upon sale or other disposition of a depreciable asset, cost and accumulated depreciation are removed from the accounts and any gain or loss is reflected in operating expenses.

~~ROYAL MINES AND MINERALS CORP. NOTES TO CONDENSED FINANCIAL STATEMENTS JANUARY 31, 2017 (UNAUDITED)~~ F-7

~~Going~~ROYAL ~~Concern~~MINES –AND ~~The~~MINERALS ~~accompanying financial statements were prepared on a going concern basis in accordance with U~~CORP.S. ~~GAAP.~~NOTES ~~The~~TO ~~going~~CONDENSED ~~concern~~FINANCIAL ~~basis~~STATEMENTS ofJULY presentation assumes that the Company will continue in operation for the next twelve months and will be able to realize its assets and discharge its liabilities and commitments in the normal course of business and does not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the Company’s inability to continue as a going concern. The Company’s history of losses31, ~~working~~2017 capital deficit, capital deficit, minimal liquidity and other factors raise substantial doubt about the Company’s ability to continue as a going concern. In order for the Company to continue operations beyond the next twelve months and be able to discharge its liabilities and commitments in the normal course of business it must raise additional equity or debt capital and continue cost cutting measures. There can be no assurance that the Company will be able to achieve sustainable profitable operations or obtain additional funds when needed or that such funds, if available, will be obtainable on terms satisfactory to management.(UNAUDITED)

IfMineral ~~the~~Exploration ~~Company continues to incur operating losses~~ and ~~does not raise sufficient additional capital, material~~Development ~~adverse~~ Costs ~~events~~– ~~may~~Exploration ~~occur~~expenditures ~~including,~~incurred ~~but~~prior ~~not limited~~ to, 1)entering athe ~~reduction~~development stage inare ~~the nature~~expensed and ~~scope~~included ofin ~~the~~mineral ~~Company’s~~exploration ~~operations~~ and 2)evaluation ~~the Company’s inability to fully implement its current business plan~~expense. There can be no assurance that the Company will successfully improve its liquidity position. The accompanying financial statements do not reflect any adjustments that might be required resulting from the adverse outcome relating to this uncertainty.

AsImpairment of ~~January~~Long-Lived ~~31,~~Assets ~~2017,~~– ~~the~~The Company ~~had cumulative~~reviews ~~net~~and ~~losses~~evaluates oflong-lived ~~$19,383,774~~assets ~~from~~for ~~operations~~impairment ~~since~~when ~~inception and had~~events ~~negative~~ or ~~working~~changes ~~capital~~in ofcircumstances ~~$2,615,572.~~indicate ~~For~~ the ~~nine~~related ~~months~~carrying ~~ended~~amounts ~~January~~may ~~31, 2017,~~not ~~the Company incurred a net loss of $829,427 and had net cash used in~~be ~~operating activities of $397,789~~ recoverable. ~~For~~The ~~the~~assets ~~nine~~are ~~months~~subject ~~ended~~to ~~January~~impairment ~~31,~~consideration ~~2016~~under ~~the~~ASC ~~Company~~ 360-10-35-17, ~~incurred~~Measurement ~~a net loss~~ of ~~$695,762~~an ~~and~~Impairment ~~had net cash used in operating activities of $382~~Loss,~~413.~~ ~~The~~if ~~Company~~events ~~has not fully started its minerals~~or ~~processing~~ circumstances ~~operations,~~indicate ~~raising~~that ~~substantial~~their ~~doubt~~carrying ~~about~~amount ~~its~~might ~~ability~~not tobe ~~continue as a going concern~~recoverable.

ToVarious ~~address~~factors ~~liquidity~~could ~~constraints,~~impact ~~the~~our ~~Company~~ ability ~~will~~to ~~seek~~achieve ~~additional~~forecasted ~~sources~~production ~~of capital through the issuance of equity or debt financing~~schedules. Additionally, ~~the~~commodity prices, ~~Company~~capital ~~has~~expenditure ~~reduced~~requirements ~~expenses,~~and ~~elected~~reclamation ~~to defer~~costs ~~payment~~could ofdiffer ~~certain~~from the ~~obligations,~~assumptions ~~deferred~~the ~~payment~~Company ofmay ~~our~~use ~~CEO’s~~in ~~salary~~cash ~~and reduced~~flow ~~staffing~~models ~~levels~~used to ~~conserve cash~~assess impairment. The ~~Company~~ability ~~is focused on continuing~~ to ~~reduce~~achieve ~~costs~~the ~~and~~estimated ~~obtaining~~quantities ~~additional~~of ~~funding. There is no assurance that~~recoverable ~~such~~ minerals ~~funding~~from ~~will~~mineral beinterests ~~available~~involves onfurther ~~terms~~risks ~~acceptable~~in addition to ~~the Company, or at all. If~~those ~~the~~ factors ~~Company~~applicable ~~raises~~to ~~additional~~mineral ~~funds~~interests bywhere ~~selling~~proven ~~additional~~and ~~shares~~probable ofreserves ~~capital~~have ~~stock,~~ been ~~securities convertible into shares of capital stock~~identified, ordue byto ~~issuing~~the ~~debt convertible~~lower ~~into~~level ~~shares~~ of ~~capital~~confidence ~~stock,~~that the ~~ownership interest of the~~identified ~~Company’s~~ mineralized ~~existing~~material ~~common~~can ~~stock~~ultimately ~~holders will~~ be ~~diluted.~~mined economically.

~~Use~~Research ofand ~~Estimates~~Development - ~~The~~All ~~preparation~~ research ~~of financial statements in conformity with U.S. GAAP requires management to make estimates~~ and ~~assumptions~~development ~~that~~expenditures affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. By their nature, these estimates are ~~subject~~ toexpensed ~~measurement~~as ~~uncertainty and the effect on the financial statements of changes in such estimates in future periods could be significant~~incurred. Significant areas requiring management’s estimates and assumptions include the valuation of stock-based compensation, impairment analysis of long-lived assets, and the realizability of deferred tax assets. Actual results could differ from those estimates.

~~Cash~~Per ~~and~~Share ~~Cash~~Amounts ~~Equivalents~~ - ~~The~~Basic ~~Company~~ earnings ~~considers~~(loss) ~~all~~per ~~investments~~share ~~with~~is ancomputed ~~original~~by ~~maturity~~dividing net income (loss) by the weighted average number of ~~three~~common ~~months~~shares oroutstanding. In computing diluted ~~less~~ earnings per share, the weighted average number of shares outstanding is adjusted to reflect the effect of potentially dilutive securities. Potentially dilutive shares, such as stock options and warrants, are excluded from the calculation when their inclusion would be anti-dilutive, such as when the exercise price of the instrument exceeds the fair market value of the Company’s common stock and when a ~~cash~~net ~~equivalent~~loss is reported. The dilutive effect of convertible debt securities is reflected in the diluted earnings (loss) per share calculation using the if-converted method. Conversion of the debt securities is not assumed for purposes of calculating diluted earnings (loss) per share if the effect is anti-dilutive. As of July 31, 2017, and 2016, stock options and warrants outstanding were 169,325,129 and 165,785,129, respectively, but were not considered in the computation of diluted earnings per share as their inclusion would be anti-dilutive.

FIncome Taxes – For interim reporting periods, the Company uses the annualized effective tax rate (“AETR”) method to calculate its income tax provision. Under this method, the AETR is applied to the interim year-7to-date pre-tax losses to determine the income tax benefit or expense for the year-to-date period. The income tax benefit or expense for a quarter represents the difference between the year-to-date income tax benefit or expense for the current year-to-date period less such amount for the immediately preceding year-to-date period. Management considers the impact of all known events in its estimation of the Company’s annual operating results and AETR.

~~ROYAL~~The ~~MINES~~Company ~~AND~~follows ~~MINERALS~~the ~~CORP~~liability method of accounting for income taxes. ~~NOTES~~This TOmethod ~~CONDENSED~~recognizes ~~FINANCIAL~~certain temporary ~~STATEMENTS~~ differences ~~JANUARY~~between 31the financial reporting basis of liabilities and assets and the related income tax basis for such liabilities and assets. This method generates either a net deferred income tax liability or asset as measured by the statutory tax rates in effect. The effect of a change in tax rates is recognized in operations in the period that includes the enactment date. The Company records a valuation allowance against any portion of those deferred income tax assets when it believes, ~~2017~~based ~~(UNAUDITED)~~on the weight of available evidence, it is more likely than not that some portion or all the deferred income tax asset will not be realized.

~~Fair~~Stock-Based ~~Value~~Compensation -– The Company accounts for share based payments in accordance with ASC ~~825~~718, ~~Financial~~ ~~Instruments~~Compensation - Stock Compensation, which requires anall ~~entity~~share-based payments to ~~maximize~~employees, ~~the~~including ~~use~~grants of ~~observable inputs~~employee ~~and~~stock ~~minimize~~options, to be recognized in the ~~use~~financial ofstatements ~~unobservable~~based ~~inputs~~on ~~when~~the ~~measuring~~grant date fair value. of the award. In accordance with ASC ~~825~~718-10-30-9, ~~establishes~~Measurement aObjective ~~fair~~– ~~value~~Fair ~~hierarchy~~Value at ~~based~~Grant onDate, the ~~level~~Company estimates the fair value of ~~independent,~~the award using a ~~objective~~ valuation ~~evidence~~technique. ~~surrounding~~For this purpose, the ~~inputs~~Company ~~used~~uses tothe ~~measure~~Black-Scholes ~~fair~~option ~~value~~pricing model. AThe Company ~~financial~~ believes ~~instrument’s~~this ~~categorization~~model ~~within~~provides the best estimate of fair value ~~hierarchy~~due isto ~~based~~its ~~upon~~ ability ~~the~~to ~~lowest~~incorporate ~~level~~inputs ofthat ~~input~~change ~~that~~over time, such as volatility and interest rates. Compensation cost is ~~significant~~recognized toover the ~~fair value~~requisite ~~measurement.~~ service ~~ASC~~period ~~825~~which ~~prioritizes~~is generally equal to the ~~inputs~~vesting ~~into~~period. ~~three~~Upon exercise, ~~levels~~shares ~~that~~issued ~~may~~will be ~~used to~~newly ~~measure~~issued ~~fair~~shares ~~value:~~from authorized common stock.

~~Level 1~~ F-8

~~Level~~ROYAL 1MINES ~~applies~~AND toMINERALS ~~assets~~CORP. ~~or liabilities~~NOTES ~~for~~TO ~~which~~CONDENSED ~~there~~FINANCIAL ~~are~~STATEMENTS ~~quoted~~JULY ~~prices~~31, in2017 ~~active markets for identical assets or liabilities.~~ (UNAUDITED)

Level 2

	ASC 505, "Compensation-Stock Compensation", establishes standards for the accounting for transactions in which an entity exchanges its equity instruments to non-employees for goods or services. Under this transition method, stock compensation expense includes compensation expense for all stock-based compensation awards granted on or after January 1, 2006, based on the grant-date fair value estimated in accordance with the provisions of ASC 505.

	Recent Accounting Standards – From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (FASB) that are adopted by the Company as of the specified effective date. Unless otherwise discussed, management believes that the impact of recently issued standards did not or will not have a material impact on the Company’s financial position, results of operations, or cash flows upon adoption.

	In February 2016, the FASB issued Accounting Standard (“ASU”) 2016-02, “Leases,” which requires lessees to put most leases on their balance sheets, but recognize the expenses on their income statements in a manner like current practice. ASU 2016-02 states that a lessee would recognize a lease liability for the obligation to make lease payments and a right-to-use asset for the right to use the underlying asset for the lease term. The new standard is effective for annual periods beginning after December 15, 2018 and interim periods within those years. Early adoption is permitted. The standard will be effective for the Company beginning May 1, 2019. The Company is currently evaluating the impact to its condensed financial statements.

2.	SCOTTSDALE FACILITY AGREEMENT

	On April 16, 2014, the Company entered into a loan and joint venture agreement (the “Agreement”) with GJS Capital Corp. (the "Creditor"). Under the terms of the Agreement, the Creditor loaned the Company $150,000 convertible note (the “Principal”) and agreed to form a joint venture with the Company for constructing and operating a processing plant at the Scottsdale facility, an existing facility, utilizing the Company’s licensed Technology. In addition, the Creditor was to advance $250,000 plus up to 15% for contingencies, a total of $287,500, to fund the initial construction and operation costs of the joint venture. The advances were not expected to be paid back to the Creditor. The Company received a total of $329,000 towards the joint venture and treated the funds as contributed capital, since in substance the Creditor secured future revenue of the Scottsdale facility operations with such funds.

	On September 23, 2016, the Company entered into an amended and restated loan and joint venture agreement (the “Amendment Agreement”) with the Creditor and Gregg Sedun (the “Consultant”). The Amendment Agreement replaces in its entirety the Agreement, between the Company and the Creditor.

	Under the terms of the Amendment Agreement, the Creditor has agreed to extend the Principal. The loan bears interest at a rate of 6% per annum, compounded annually and is due on demand. The Company settled the $329,000 joint venture advance in exchange for 15,065,570 shares of common stock of the Company, along with 1,400,000 of the Company’s common shares of Gainey Capital Corp.

	At any time prior to the Principal being paid back in full, the Creditor may elect to receive units (each a “Unit") of the Company in exchange for any portion of the Principal outstanding based on one Unit for each $0.05 of indebtedness converted (the “Unit Conversion Option"). Each Unit consists of one share of the Company’s common stock and one warrant to purchase an additional share of the Company's common stock at a price of $0.10 per share for two years from the date of issuance. If the Creditor exercises the Unit Conversion Option, the Creditor will forgive the interest that accrued on the converted portion of the Principal.

Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or modelF-~~derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data of the fair value of the assets or liabilities.~~ 9

~~Level~~ROYAL 3MINES AND MINERALS CORP. NOTES TO CONDENSED FINANCIAL STATEMENTS JULY 31, 2017 (UNAUDITED)

Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

	If the Creditor exercises the Unit Conversion Option, the Creditor will receive a net profits interest (the “Net Profits Interest”) on any future profits received by the Company that are derived from the Company’s Technology on the basis of 1% of the Company’s net profits for every $10,000 of converted Principal. The Net Profits Interest will terminate when the Creditor receives eight times the amount of converted Principal.

	The Company also agreed that in circumstances where the Consultant introduces sub-licensees or joint venture partners (“Partnership Interest”) to the Company for the purpose of using the Company’s Technology, the Company shall pay 20% of the net cash proceeds received by the Company from the Partnership Interest to the Consultant. The Company is under no obligation to enter into an agreement or terminate any future agreement with any Partnership Interest

3.	PROPERTY AND EQUIPMENT

	Property and equipment consists of the following:

Pursuant to ASC 825, the fair value of cash is determined based on “Level 1” inputs, which consist of quoted prices in active markets for identical assets. The Company's financial instruments consist of cash, prepaid expenses, other assets, accounts payable, accrued liabilities, and loans payable. The carrying amount of these financial instruments approximates fair value due to either length of maturity or interest rates that approximate prevailing market rates unless otherwise disclosed in these financial statements.

		As of			As of
		July 31, 2017			April 30, 2017
Process, lab and office equipment	$	406,316		$	406,316
Less: accumulated depreciation		(358,364	)		(353,623	)
	$	47,952		$	52,693

Assets measured at fair value on a recurring basis were presented on the Company’s balance sheet as of January 31, 2017 and April 30, 2016 as follows:

	Depreciation expense was $4,741 and $17,441 for the three months ended July 31, 2017 and 2016, respectively.

4.	ACCOUNTS PAYABLE - RELATED PARTIES

	As of July 31, 2017 and April 30, 2017, accounts payable – related parties of $445,705 and $446,258, respectively, mainly consisted of expenses paid by and consulting fees due to the CEO of the Company.

5.	CONVERTIBLE LOANS PAYABLE AND ACCRUED INTEREST

	As of July 31, 2017 and April 30, 2017, convertible loans payable of $268,030 and $258,030, respectively, mainly consists of borrowings payable to unrelated third parties. Convertible loans were assessed for the beneficial conversion feature (“BCF”), but none. As of July 31, 2017 and April 30, 2017, accrued interest on these loans was $92,530 and $87,224, respectively.

	On April 16, 2014, the Company entered into a loan and joint venture agreement (the “Agreement”) with GJS Capital Corp. (the "Creditor"). Under the terms of the Agreement, the Creditor loaned the Company $150,000 convertible note (the “Principal”).

	On September 23, 2016, the Company entered into an amended and restated loan and joint venture agreement (the “Amendment Agreement”) with the Creditor and Gregg Sedun (the “Consultant”). The Amendment Agreement replaces in its entirety the Agreement, between the Company and the Creditor.

	The Creditor has agreed to extend the Principal. The loan bears interest at a rate of 6% per annum, compounded annually and is due on demand. As of July 31, 2017 and April 30, 2017, accrued interest on this loan was $33,092 and $30,792, respectively. Interest expense on this loan was $2,300 for the three months ended July 31, 2017 and 2016.

	The Creditor may elect to receive units (each a “Unit") of the Company in exchange for any portion of the Principal outstanding based on one Unit for each $0.05 of indebtedness converted (the “Unit Conversion Option"). Each Unit consists of one share of the Company’s common stock and one warrant to purchase an additional share of the Company's common stock at a price of $0.10 per share for two years from the date of issuance. If the Creditor exercises the Unit Conversion Option, the Creditor will forgive the interest that accrued on the converted portion of the Principal.

~~Fair Value Measurements at January 31, 2017 Using:~~ F-10

Assets:

Total Carrying

Quoted Marked

Significant Other

Significant

Value as of

Prices in Active

Observable Inputs

Unobservable

10/31/2016

Markets (Level 1)

(Level 2)

Inputs (Level 3)

Investments in marketable securities

Total

ROYAL MINES AND MINERALS CORP.

NOTES TO CONDENSED FINANCIAL STATEMENTS

JULY 31, 2017

(UNAUDITED)

~~Fair~~If ~~Value~~the ~~Measurements~~Creditor exercises the Unit Conversion Option, the Creditor will receive a net profits interest (the “Net Profits Interest”) on any future profits received by the Company that are derived from the Company’s Technology based on 1% of the Company’s net profits for every $10,000 of converted Principal. The Net Profits Interest will terminate when the Creditor receives eight times the amount of converted Principal. A separate loan from another unrelated party bears 12% interest, is unsecured and is due on demand. As of July 31, 2017 and April 30, 2017, accrued interest on this loan was $59,438 and $56,432, respectively. Interest expense was $3,006 for the three months ended July 31, 2017 and 2016. The creditor may elect to receive units (each a “Unit") of the Company in exchange for any portion of their loan outstanding based on one Unit for each $0.05 of indebtedness converted. Each Unit consists of one share of the Company’s common stock and one warrant to purchase an additional share of the Company's common stock at a price of $0.10 per share for two years from the date of issuance. 6. CONVERTIBLE LOANS PAYABLE AND ACCRUED INTEREST – RELATED PARTIES As of July 31, 2017 and April 30, 2017, convertible loans payable – related parties of $1,353,000 and $1,277,000, respectively, mainly consists of borrowings, directly and indirectly, from the CEO of the Company. Convertible loans – related parties were assessed for the beneficial conversion feature (“BCF”), but none. The balance bears 10% interest, is secured by the equipment in the Scottsdale plant and is due December 31, 2018. The creditor may elect to receive units (each a “Unit") of the Company in exchange for any portion of the loan outstanding based on one Unit for each $0.05 of indebtedness converted. Each Unit consists of one share of the Company’s common stock and one warrant to purchase an additional share of the Company's common stock at a price of $0.10 per share for two years from the date of issuance. As of July 31, 2017 and April 30, 2017, accrued interest – related party was $350,598 and $316,861, respectively. Related parties – interest expense was $33,737 and $24,351 for the three months ended July 31, 2017 and 2016, ~~Using:~~respectively. 7. CONVERTIBLE NOTES PAYABLE As of July 31, 2017 and April 30, 2017, convertible notes payable consists of an unsecured $50,000 payable to New Verde River Mining and Robert H. Gunnison. Convertible notes payable was amended in the prior year and assessed for BCF, but none. The note payable bears 6% interest annually, is unsecured and is due on demand. As of July 31, 2017 and April 30, 2017, accrued interest was $29,842 and $29,075, respectively. Interest expense was $766 for the three months ended July 31, 2017 and 2016, respectively. The Creditor may elect to receive units (each a “Unit") of the Company in exchange for any portion of the note outstanding based on one Unit for each $0.05 of indebtedness converted. Each Unit consists of one share of the Company’s common stock and one warrant to purchase an additional share of the Company's common stock at a price of $0.10 per share for two years from the date of issuance. 8. COMMITMENTS AND CONTINGENCIES Lease obligations – The Company has operating leases for its corporate office, corporate housing and plant facilities. All operating leases are month-to-month. Future minimum lease payments under the operating leases as of July 31, 2017 are as follows:

	Assets:		Total Carrying		Quoted Marked		Significant Other		Significant
Fiscal year ending April 30, 2018	$	6,486
			Value as of		Prices in Active		Observable Inputs		Unobservable
Fiscal year ending April 30, 2019	$	-
			4/30/2016		Markets (Level 1)		(Level 2)		Inputs (Level 3)
	Investments in marketable securities	$	216,648	$	-	$	216,648	$	-
	Total	$	216,648	$	-	$	216,648	$	-

~~Property and Equipment~~ F- Property and equipment are stated at cost less accumulated depreciation. Depreciation is provided principally on the straight-line method over the estimated useful lives of the assets, which are generally 3 to 10 years. The cost of repairs and maintenance is charged to expense as incurred. 11

~~F-8~~ROYAL MINES AND MINERALS CORP. NOTES TO CONDENSED FINANCIAL STATEMENTS JULY 31, 2017 (UNAUDITED)

ROYAL MINES AND MINERALS CORP. NOTES TO CONDENSED FINANCIAL STATEMENTS JANUARY 31, 2017 (UNAUDITED)

Fiscal year ending April 30, 2020	$	-
Fiscal year ending April 30, 2021	$	-
Fiscal year ending April 30, 2022	$	-

~~Expenditures~~Lease expense was $19,458 and $20,883 for ~~property~~the ~~betterments~~ three months ended July 31, 2017 and ~~renewals~~2016, ~~are~~respectively. ~~capitalized~~Legal proceedings – On May 1, 2015, the Company received an amended notice of civil claim (the “Claim”), dated April 1, 2015 (original filed on December 31, 2014), that was filed in the Supreme Court of British Columbia, by 1254859 Ontario Inc. ~~Upon~~(the ~~sale~~“Plaintiff”), oralleging ~~other~~breach ~~disposition~~of specific performance and breach of acontract ~~depreciable asset~~in relation to the Golden Anvil Asset Purchase by Gainey (see Note 3). The Plaintiff seeks to recover damages of including, ~~cost~~but not limited to: 1) 1,000,000 shares of Gainey stock; 2) damages in lieu of specific performance; and ~~accumulated~~3) ~~depreciation~~damages ~~are~~for ~~removed~~breach ~~from~~of contract. On June 1, 2015, the ~~accounts~~Company filed a response to the Claim, denying: 1) entering into any oral agreement; 2) that the Plaintiff presented a potential transaction with Gainey; 3) that there was any fee payable to Plaintiff upon completion of a transaction with Gainey; 4) any existence of an agreement with Plaintiff and as such, the Gainey transaction was not related to any ~~gain~~ agreement with Plaintiff; and 5) any obligation to pay a fee to Plaintiff, contractually or ~~loss~~otherwise. While the Company intends to vigorously defend the lawsuit, there is ~~reflected~~no assurance that the Company will be able to successfully defend the lawsuit. On January 29, 2016, the Plaintiff filed a Notice of Application (the “Application”) in ~~operating~~the ~~expenses~~Supreme Court of British Columbia, seeking an injunction to prohibit the distribution of shares of Gainey Capital Corp. held by the Company. A hearing took place on March 17, 2016. On June 16, 2016, the Application was dismissed against the Company. No other legal proceedings are pending, threatened or contemplated. 9. STOCKHOLDERS’ EQUITY Common and Preferred Stock: As of July 31, 2017 and April 30, 2017, there were 245,199,204 shares of common stock outstanding and zero shares of preferred stock outstanding. 10. STOCK OPTIONS AND WARRANTS As of July 31, 2017 and April 30, 2017, there were 34,300,000 stock options and 135,025,129 stock warrants outstanding and exercisable. 11. RELATED PARTY TRANSACTIONS For the three months ended July 31, 2017 and 2016, the Company incurred $51,000 and $49,000, respectively, in consulting fees expense from companies with a common director or officer. 12. SUBSEQUENT EVENTS None

~~Mineral Exploration and Development Costs – Exploration expenditures incurred prior to entering the development stage are expensed and included in mineral exploration and evaluation expense.~~ F-12

~~Impairment~~ITEM ~~of Long-Lived Assets – The Company reviews and evaluates long-lived assets for impairment when events or changes in circumstances indicate the related carrying amounts may not be recoverable~~2. ~~The~~MANAGEMENT'S ~~assets~~DISCUSSION ~~are~~AND ~~subject~~ANALYSIS toOF ~~impairment~~FINANCIAL ~~consideration~~CONDITION ~~under~~AND ~~ASC 360-10-35-17,~~RESULTS ~~Measurement~~OF ~~of an Impairment Loss, if events or circumstances indicate that their carrying amount might not be recoverable~~OPERATIONS.

~~Various~~CAUTIONARY ~~factors~~STATEMENT ~~could~~REGARDING ~~impact~~FORWARD-LOOKING ~~our~~STATEMENTS ability to achieve forecasted production schedules. Additionally, commodity prices, capital expenditure requirements and reclamation costs could differ from the assumptions the Company may use in cash flow models used to assess impairment. The ability to achieve the estimated quantities of recoverable minerals from mineral interests involves further risks in addition to those factors applicable to mineral interests where proven and probable reserves have been identified, due to the lower level of confidence that the identified mineralized material can ultimately be mined economically.

~~The~~Certain ~~Company's~~statements ~~policy~~contained isin tothis ~~record~~Quarterly anReport ~~impairment~~constitute ~~loss~~"forward-looking instatements.” ~~the~~These ~~period~~statements, ~~when~~identified itby iswords such ~~determined~~as ~~that~~“plan,” "anticipate," "believe," "estimate," "should," "expect" and similar expressions include our expectations and objectives regarding our future financial position, operating results and business strategy. These statements reflect the ~~carrying~~current ~~amount~~views of management with respect to future events and are ~~the~~subject ~~asset~~to risks, uncertainties and other factors that may ~~not~~cause beour ~~recoverable~~actual results, ~~either~~performance byor ~~impairment~~achievements, or byindustry ~~abandonment~~results, ofto ~~the~~be materially ~~property~~different from those described in the forward-looking statements. ~~The~~Such ~~impairment~~risks ~~loss~~and uncertainties isinclude ~~calculated~~those asset forth under the ~~amount~~caption by"Part ~~which~~II ~~the~~– ~~carrying~~Item 1A. Risk ~~amount~~Factors" ofand elsewhere in this Quarterly Report. We do not intend to update the forward-looking ~~assets~~information ~~exceeds~~to ~~its~~reflect ~~fair~~actual ~~value.~~results Noor ~~impairment~~changes ~~expense~~in ~~was~~the factors ~~recognized~~affecting ~~for~~such forward-looking information. We advise you to carefully review the ~~nine~~reports ~~months~~and ~~ended~~documents, ~~January~~particularly 31our Annual Reports, ~~2017~~Quarterly Reports and ~~2016~~Current Reports, that we file from time to time with the United States Securities and Exchange Commission (the “SEC”).

~~Research~~OVERVIEW ~~and Development - All research and development expenditures are expensed as incurred.~~

~~Per~~We ~~Share~~were ~~Amounts~~incorporated -on ~~Basic earnings~~December ~~(loss)~~14, ~~per~~2005 ~~share~~under isthe ~~computed~~laws byof ~~dividing net income (loss) by~~ the ~~weighted~~State ~~average number~~ of ~~common shares outstanding~~Nevada. InOur ~~computing~~primary ~~diluted earnings~~objectives ~~per~~are ~~share, the weighted average number of shares outstanding is adjusted~~ to: ~~reflect~~(i) ~~the~~commercially ~~effect~~and ~~of potentially dilutive securities. Potentially~~viably ~~dilutive~~extract ~~shares, such as stock options~~ and ~~warrants,~~refine ~~are~~precious ~~excluded~~metals from ~~the calculation~~specific ~~when~~coal ~~their~~(fly ~~inclusion would be anti-dilutive, such as when the exercise price of the instrument exceeds the fair market value of the Company’s common stock~~ and ~~when~~bottom) aash ~~net loss is reported. The dilutive effect of convertible~~and ~~debt~~other ~~securities~~leachable isassets; ~~reflected in the diluted earnings~~ (~~loss~~ii) ~~per~~use ~~share calculation~~our ~~using~~proprietary ~~the~~processes ~~if-converted~~to ~~method.~~convert ~~Conversion~~specific ore ofbodies ~~the~~and ~~debt~~coal ~~securities~~ash ~~is not~~landfills ~~assumed~~into ~~for~~valuable ~~purposes~~assets; ofand ~~calculating diluted earnings~~ (~~loss~~iii) ~~per~~joint ~~share if the effect is anti-dilutive. As of January 31~~venture, ~~2017, and 2016, stock options and~~ ~~warrants~~acquire ~~outstanding were 163,825,129~~ and ~~165,785,129~~develop ~~respectively,~~mineable ~~but~~projects ~~were not considered~~ in ~~the~~North ~~computation of diluted earnings per share as their inclusion would be anti-dilutive~~America.

~~Income~~We ~~Taxes~~are –focusing ~~For~~our ~~interim reporting~~business ~~periods,~~on ~~the~~commercially ~~Company uses the annualized effective tax rate (“AETR”)~~processing ~~method~~specific tocoal ~~calculate~~ash ~~its~~through ~~income~~a ~~tax~~process ~~provision.~~of ~~Under~~mechanical ~~this method~~attrition, ~~the~~chemical ~~AETR is~~treatments ~~applied~~and tothermal ~~the~~sintering ~~interim~~that ~~year-to-date~~exposes ~~pre-tax~~extractable ~~losses~~gold ~~to determine~~ (the ~~income~~“Cholla ~~tax benefit~~Process”) ~~or expense for the year-to-date period. The income tax benefit or~~at ~~expense~~our ~~for~~processing aand ~~quarter~~refining ~~represents~~plant ~~the~~located ~~difference~~in ~~between~~Scottsdale, ~~the~~Arizona ~~year-to-date income~~(the ~~tax~~“Scottsdale ~~benefit~~Facility”). orThis ~~expense~~process ~~for~~agglomerates ~~the~~metal ~~current~~atoms ~~year-to-date~~into ~~period less such amount for~~larger ~~the~~nanoparticles, ~~immediately~~before ~~preceding~~forming ~~year-to-date~~bulk ~~period~~gold metal. ~~Management~~Once ~~considers the impact of all known events~~ in ~~its~~bulk ~~estimation~~gold ofmetal, ~~the~~all traditional ~~Company’s~~assay ~~annual~~methods ~~operating~~can ~~results and~~effectively ~~AETR.~~measure value.

~~The~~We ~~Company~~are ~~follows~~actively ~~the~~seeking ~~liability method~~to ofenter ~~accounting~~into ~~for~~joint ~~income~~ventures ~~taxes.~~with ~~This method recognizes certain temporary~~third ~~differences~~parties ~~between~~who ~~the~~have ~~financial~~legal ~~reporting~~rights ~~basis~~to offly ~~liabilities~~ash ~~and~~resources, ~~assets~~including ~~and the related income tax basis for such liabilities and assets~~landfills. ~~This method~~There ~~generates~~is ~~either~~no aassurance ~~net~~that ~~deferred~~we ~~income~~will ~~tax~~be ~~liability~~able orto ~~asset~~commercially asextract ~~measured~~precious ~~by the~~metals ~~statutory~~from ~~tax~~fly ~~rates~~ash inor ~~effect.~~other ~~The~~mineable ~~effect~~ores ofusing aour ~~change~~Cholla inprocess ~~tax~~or ~~rates is recognized in operations in the period~~ that ~~includes~~we ~~the~~will ~~enactment date. The Company~~be ~~records~~able ato ~~valuation~~enter ~~allowance~~into ~~against~~joint ~~any~~ventures ~~portion~~for ~~of those deferred income tax assets when it believes, based on~~ the ~~weight~~exploration ofand ~~available~~development ~~evidence, it is more likely than~~of ~~not~~additional ~~that~~mining ~~some portion or all the deferred income tax asset will not be realized~~projects.

~~F-9~~RESULTS OF OPERATIONS

ROYAL MINES AND MINERALS CORP. NOTES TO CONDENSED FINANCIAL STATEMENTS JANUARY 31, 2017 (UNAUDITED)

Three Months Summary
		Three Months Ended
		July 31, 2017			July 31, 2016		Percentage
							Increase / (Decrease)
Revenue	$	-		$	-		n/a
Operating Expenses		(123,818	)		(154,839	)	(20.0 )%
Interest Expense		(40,130	)		(31,156	)	28.8%
Net Loss	$	(163,948	)	$	(185,995	)	(11.9 )%

~~Stock-Based~~Revenues Compensation – The Company accounts for share based payments in accordance with ASC 718, Compensation - Stock Compensation, which requires all share-based payments to employees, including grants of employee stock options, to be recognized in the financial statements based on the grant date fair value of the award. In accordance with ASC 718-10-30-9, Measurement Objective – Fair Value at Grant Date, the Company estimates the fair value of the award using a valuation technique. For this purpose, the Company uses the Black-Scholes option pricing model. The Company believes this model provides the best estimate of fair value due to its ability to incorporate inputs that change over time, such as volatility and interest rates. Compensation cost is recognized over the requisite service period which is generally equal to the vesting period. Upon exercise, shares issued will be newly issued shares from authorized common stock.

~~ASC~~We ~~505,~~earned ~~"Compensation-Stock Compensation",~~no ~~establishes~~revenues ~~standards~~during ~~for~~ the ~~accounting~~three ~~for~~months ~~transactions~~ended inJuly 31, ~~which~~2017 anand ~~entity~~2016. ~~exchanges~~We ~~its~~are ~~equity~~currently ~~instruments~~in tothe ~~non-employees~~development ~~for~~stage ~~goods~~of ~~or services~~our business. ~~Under~~We ~~this~~can provide ~~transition~~no ~~method,~~assurances ~~stock~~that ~~compensation~~we ~~expense~~will ~~includes compensation~~be ~~expense~~able ~~for~~to ~~all~~develop ~~stock-based~~a ~~compensation~~commercially ~~awards~~viable process ~~granted on~~ or ~~after January~~earn 1,significant ~~2006,~~revenue ~~based~~from on the ~~grant-date~~processing ~~fair~~of ~~value~~fly ~~estimated~~ash inor ~~accordance with~~other ~~the provisions of ASC 505~~materials.

Recent Accounting Standards – From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (FASB) that are adopted by the Company as of the specified effective date. Unless otherwise discussed, management believes that the impact of recently issued standards did not or will not have a material impact on the Company’s financial position, results of operations, or cash flows upon adoption. 4

InExpenses February 2016, the FASB issued Accounting Standard (“ASU”) 2016-02, “Leases,” which requires lessees to put most leases on their balance sheets, but recognize the expenses on their income statements in a manner like current practice. ASU 2016-02 states that a lessee would recognize a lease liability for the obligation to make lease payments and a right-to-use asset for the right to use the underlying asset for the lease term. The new standard is effective for annual periods beginning after December 15, 2018 and interim periods within those years. Early adoption is permitted. The standard will be effective for the Company beginning May 1, 2019. The Company is currently evaluating the impact to its condensed financial statements.

InThe ~~November~~major ~~2015,~~components ~~the FASB issued ASU 2015-17, “Balance Sheet Classification~~ of ~~Deferred~~our ~~Taxes”,~~operating ~~which~~expenses ~~simplifies income~~for ~~tax accounting. The update requires that all deferred tax assets and liabilities be classified as noncurrent on~~ the ~~balance sheet instead of~~three ~~separating~~months ~~deferred~~ended ~~taxes~~July ~~into~~31, ~~current~~2017 and ~~noncurrent amounts. This update is effective for fiscal years beginning after December 15,~~ 2016, ~~and~~are ~~interim periods~~outlined ~~within~~in ~~those fiscal years, and early adoption is permitted. The adoption of this standard had no impact on~~ the ~~condensed~~table ~~financial~~below: ~~position, results of operations or cash flows.~~

In April 2015, the FASB issued ASU 2015-03, “Interest – Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs”, which simplifies the presentation of debt issuance costs by requiring debt issuance costs to be presented as a deduction from the corresponding debt liability. The update is effective in fiscal years, including interim periods, beginning after December 15, 2015, and early adoption was permitted. The adoption of this standard had no impact on the condensed financial position, results of operations or cash flows.

		Three Months Ended			Percentage
		July 31, 2017		July 31, 2016	Increase /
					(Decrease)
Mineral exploration and evaluation expenses	$	51,039	$	57,856	(11.8 )%
Mineral exploration and evaluation expenses – related parties		15,000		15,000	0.0%
General and administrative		17,038		30,542	(44.2 )%
General and administrative – related parties		36,000		34,000	5.9%
Depreciation		4,741		17,441	(72.8 )%
Total Expenses	$	123,818	$	154,839	(20.0 )%

InOur ~~August~~operating ~~2014,~~expenses for the ~~FASB~~three ~~issued~~months ~~ASU 2014-15,~~ended ~~“Disclosure~~July of31, ~~Uncertainties~~2017 decreased ~~about Entity’s Ability to Continue~~ as ~~a Going~~compared ~~Concern”. This standard requires management of public and private companies~~ to ~~evaluate whether there is substantial doubt about~~ the ~~entity’s ability~~three tomonths ~~continue~~ended asJuly ~~a going concern and~~31, ~~if so, disclose that fact~~2016. ~~Management~~ ~~is also required to evaluate and disclose whether its plans alleviate that doubt.~~ The ~~standard~~decrease ~~is effective for annual periods ending after December~~in ~~15,~~our ~~2016,~~operating ~~and~~expenses ~~interim~~primarily ~~periods~~relates ~~within~~to ~~annual periods beginning after December 15, 2016. Adoption of~~ the ~~new~~decrease ~~guidance~~in isgeneral ~~not expected to have an impact on the~~and ~~condensed~~administrative ~~financial~~expenses ~~position,~~and ~~results~~depreciation ~~of operations or cash flows~~expense.

~~F-10~~Mineral exploration and evaluation expenses primarily consist of rent, consulting fees and labor expenses relating to the Scottsdale Facility.

~~ROYAL~~Our ~~MINES~~general ~~AND~~and ~~MINERALS~~administrative ~~CORP~~expenses primarily consist of: (i) monthly consulting fees to our Chief Financial Officer, Mr. ~~NOTES~~Mitchell; TO(ii) legal ~~CONDENSED~~and ~~FINANCIAL~~audit fees in connection with meeting our reporting requirements under ~~STATEMENTS~~the ~~JANUARY~~Exchange ~~31,~~Act; ~~2017~~and (~~UNAUDITED~~iii) travel expense for our executives.

2.	SCOTTSDALE FACILITY AGREEMENT
	On April 16, 2014, the Company entered into a loan and joint venture agreement (the “Agreement”) with GJS Capital Corp. (the "Creditor"). Under the terms of the Agreement, the Creditor loaned the Company $150,000 convertible note (the “Principal”) and agreed to form a joint venture with the Company for constructing and operating a processing plant at the Scottsdale facility, an existing facility, utilizing the Company’s licensed Technology. In addition, the Creditor was to advance $250,000 plus up to 15% for contingencies, a total of $287,500, to fund the initial construction and operation costs of the joint venture. The advances were not expected to be paid back to the Creditor. The Company received a total of $329,000 towards the joint venture and treated the funds as contributed capital, since in substance the Creditor secured future revenue of the Scottsdale facility operations with such funds.
	On September 23, 2016, the Company entered into an amended and restated loan and joint venture agreement (the “Amendment Agreement”) with the Creditor and Gregg Sedun (the “Consultant”). The Amendment Agreement replaces in its entirety the Agreement, between the Company and the Creditor.
	Under the terms of the Amendment Agreement, the Creditor has agreed to extend the Principal. The loan bears interest at a rate of 6% per annum, compounded annually and now has a maturity date of December 31, 2017 (the “Maturity Date"). The Company settled the $329,000 joint venture advance in exchange for 15,065,570 shares of common stock of the Company. Also, the Company agreed to transfer 1,400,000 of its 1,600,000 common shares of Gainey Capital Corp. to the Creditor.
	At any time prior to the Maturity Date, the Creditor may elect to receive units (each a “Unit") of the Company in exchange for any portion of the Principal outstanding on the basis of one Unit for each $0.05 of indebtedness converted (the “Unit Conversion Option"). Each Unit consists of one share of the Company’s common stock and one warrant to purchase an additional share of the Company's common stock at a price of $0.10 per share for two years from the date of issuance. If the Creditor exercises the Unit Conversion Option, the Creditor will forgive the interest that accrued on the converted portion of the Principal.
	If the Creditor exercises the Unit Conversion Option, the Creditor will receive a net profits interest (the “Net Profits Interest”) on any future profits received by the Company that are derived from the Company’s Technology on the basis of 1% of the Company’s net profits for every $10,000 of converted Principal. The Net Profits Interest will terminate when the Creditor receives eight times the amount of converted Principal.
	The Company also agreed that in circumstances where the Consultant introduces sub-licensees or joint venture partners (“Partnership Interest”) to the Company for the purpose of using the Company’s Technology, the Company shall pay 20% of the net cash proceeds received by the Company from the Partnership Interest to the Consultant. The Company is under no obligation to enter into an agreement or terminate any future agreement with any Partnership Interest
3.	INVESTMENT IN MARKETABLE SECURITIES
	On September 27, 2013, the Company entered into a settlement and security release agreement with Golden Anvil. Under the terms of the Release Agreement, the Company agreed to release Golden Anvil from loan agreements pursuant to which, Golden Anvil owed the Company $983,055 in secured indebtedness. In exchange for the release, Golden Anvil had 2,000,000 common shares of Gainey issued to the Company as part of an asset purchase agreement between Golden Anvil and Gainey.
	The Asset Purchase was completed on September 30, 2013. The Gainey shares are held in escrow and will be released pursuant to the terms of a surplus escrow agreement as follows. The company cannot enter into any sales transaction of the Gainey shares prior to their release.

We anticipate that our operating expenses will increase significantly as we implement our plan of operation for our Scottsdale Facility.

~~F-11~~LIQUIDITY AND CAPITAL RESOURCES

ROYAL MINES AND MINERALS CORP. NOTES TO CONDENSED FINANCIAL STATEMENTS JANUARY 31, 2017 (UNAUDITED)

Working Capital
							Percentage
		At July 31, 2017			At April 30, 2017		Increase / (Decrease)
Current Assets	$	2,975		$	18,173		(83.6 )%
Current Liabilities		(1,784,070	)		(1,640,061	)	8.8%
Working Capital Deficit	$	(1,781,095	)	$	(1,621,888	)	9.8%

% of Shares to be Released	Date of Release
Cash Flows
5%	October 2, 2013
		Three Months Ended
5%	April 2, 2014
		July 31, 2017			July 31, 2016
10%	October 2, 2014
Net Cash Used in Operating Activities	$	(95,112	)	$	(139,446	)
10%	April 2, 2015
Net Cash Provided by Financing Activities		86,000			145,000
15%	October 2, 2015
Net (Decrease) Increase in Cash During Period	$	(9,112	)	$	5,554
15%	April 2, 2016
40%	October 2, 2016

OnAs ~~March~~at 30July 31, ~~2015~~2017, ~~the~~we ~~Company~~had ~~sold~~a working capital deficit of ~~400~~$1,~~000~~781,095 ~~Gainey~~as ~~shares~~compared to ~~the~~a ~~Creditor~~working ~~(see~~capital ~~Note~~deficit 2)of ~~for~~ $491,~~747 cash~~621,888 ~~net~~as ofat April ~~currency~~30, ~~exchange and other banking fees~~2017. The ~~cost~~increase ofin ~~the~~our ~~400,000~~working ~~Gainey~~capital ~~shares was~~deficit ~~$200,000.~~is ~~The~~primarily ~~Company~~due ~~recorded~~to aan increase ~~loss~~in onconvertible ~~sale~~loans ofpayable-related ~~marketable~~parties ~~securities~~and ofaccrued ~~$150,253~~interest-related parties.

On September 23, 2016, the Company agreed to transfer 1,400,000 Gainey shares to the Creditor in accordance with the Amendment Agreement. The cost of the 1,400,000 Gainey shares was $700,000. The Company had previously recorded an other than temporary loss on marketable securities of $510,433 related to these 1,400,000 Gainey shares. The Company recorded a loss on marketable securities in joint venture settlement of $189,567 and removed an unrealized gain on marketable securities of $3,717. 5

OnFINANCING October 14, 2016, the Company sold its last 200,000 Gainey shares to the Creditor for $40,280 cash. The cost of the 200,000 Gainey shares was $100,000. The Company had previously recorded a other than temporary loss on marketable securities of $72,919 related to these 200,000 Gainey shares. The Company recorded a gain on sale of marketable securities of $13,199 and removed an unrealized gain on marketable securities of $531. REQUIREMENTS

~~As of January 31~~Currently, ~~2017~~we ~~and~~do ~~April~~not ~~30, 2016,~~have ~~investment~~sufficient infinancial ~~marketable~~resources ~~securities consisted of zero and $216,648,~~to ~~respectively.~~complete ~~The~~our ~~Company~~plan held 1,600,000 Gainey Capital Corp. (“Gainey”) common shares, and the market value was $0.135 per share April 30, 2016. Gainey shares are traded on the Vancouver exchange under the stock symbol GNC.V and on the OTC Pink marketplace under the stock symbol GNYPF. Marketable securities are held for an indefinite period of ~~time~~operation ~~and thus are classified as available-~~for~~-sale securities.~~ ~~Realized investment gains and losses are included in~~ the ~~statement of~~next ~~operations,~~twelve ~~as are provisions for other than temporary declines in the market value of available-for-sale securities~~months. ~~Unrealized~~As ~~gains~~such, ~~and~~our ~~unrealized losses~~ability ~~deemed~~ to becomplete ~~temporary~~our ~~are~~plan ~~excluded from earnings (losses), net~~ of ~~applicable taxes,~~operation ~~as a component of other comprehensive income. Factors considered in judging whether an impairment~~ is ~~other~~dependent ~~than~~upon ~~temporary~~our ~~include the financial condition, business prospects and creditworthiness of the issuer, the length of time that fair value has been less than cost, the relative amount of decline, and the Company’s~~ ability ~~and intent~~ to ~~hold~~obtain additional ~~the~~financing ~~investment~~in ~~until~~ the ~~fair~~near ~~value recovers~~term.

~~Based~~We anticipate continuing to rely on ~~management’s~~equity ~~evaluation~~sales of ~~the~~our common ~~circumstances,~~shares ~~management~~to ~~believed~~continue ~~that~~to ~~the~~fund ~~decline~~our business operations. Issuances of additional shares will result in ~~fair~~dilution ~~value~~to ~~below~~our ~~the~~existing ~~cost~~shareholders. There is no ofassurance ~~certain~~that ofwe ~~the~~will ~~Company’s~~achieve ~~marketable~~any additional sales of our equity securities ~~was~~or arrange for debt or other~~-than-temporary~~ financing to fund our planned mining, development and exploration activities.

~~The following is a summary of available~~OFF-~~for-sale~~BALANCE ~~marketable~~SHEET ~~securities~~ARRANGEMENTS ~~as of April 30, 2016:~~

		Cost		Unrealized Gain		Realized (Losses)			Market or Fair Value
Equity securities	$	800,000	$	--	$	(583,352	)	$	216,648
Total	$	800,000	$	--	$	(583,352	)	$	216,648

We have no significant off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to stockholders.

4.CRITICAL ~~PROPERTY~~ACCOUNTING ~~AND~~POLICIES ~~EQUIPMENT Property and equipment consists of the following:~~

FOur significant accounting policies are disclosed in Note 1 to our annual financial statements included in our Annual Report on Form 10-12K for our fiscal year ended April 30, 2017, filed with the SEC on July 27, 2017.

~~ROYAL~~ITEM ~~MINES AND MINERALS CORP~~3. ~~NOTES~~QUANTITATIVE TOAND ~~CONDENSED~~QUALITATIVE ~~FINANCIAL STATEMENTS~~DISCLOSURES ~~JANUARY~~ABOUT ~~31,~~MARKET ~~2017 (UNAUDITED)~~ RISK.

		As of			As of
		January 31, 2017			April 30, 2016
Process, lab and office equipment	$	406,316		$	406,316
Less: accumulated depreciation		(348,881	)		(309,257	)
	$	57,435		$	97,059

Not Applicable.

Depreciation expense was $4,741 and $17,441 for the three months ended January 31, 2017 and 2016, respectively. Depreciation expense was $39,624 and $52,324 for the nine months ended January 31, 2017 and 2016, respectively. 5. ACCOUNTS PAYABLE - RELATED PARTIES As of January 31, 2017 and April 30, 2016, accounts payable – related parties of $422,562 and $375,465, respectively, mainly consisted of consulting fees due to one director and officer of the Company. 6. LOANS PAYABLE As of January 31, 2017 and April 30, 2016, loans payable of $108,030 and $98,030, respectively, mainly consists of borrowings payable to an unrelated third party. The loan bears 12% interest, is unsecured and is due on demand. As of January 31, 2017 and April 30, 2016, accrued interest was $110,423 and $92,204, respectively. 7. LOANS PAYABLE AND ACCRUED INTEREST – RELATED PARTIES As of January 31, 2017 and April 30, 2016, loans payable – related parties of $1,177,000 and $878,000, respectively, mainly consists of borrowings, directly and indirectly, from one director of the Company. The balance bears 10% interest, is secured by the property and equipment in the Scottsdale plant and is due on demand. As of January 31, 2017 and April 30, 2016, accrued interest – related party was $286,519 and $206,581, respectively. Related parties – interest expense was $28,663 and $16,024 for the three months ended January 31, 2017 and 2016, respectively. Related parties – interest expense was $80,671 and $42,807 for the nine months ended January 31, 2017 and 2016, respectively. 8. CONVERTIBLE NOTE On April 16, 2014, the Company entered into a loan and joint venture agreement (the “Agreement”) with GJS Capital Corp. (the "Creditor"). Under the terms of the Agreement, the Creditor loaned the Company $150,000 convertible note (the “Principal”). On September 23, 2016, the Company entered into an amended and restated loan and joint venture agreement (the “Amendment Agreement”) with the Creditor and Gregg Sedun (the “Consultant”). The Amendment Agreement replaces in its entirety the Agreement, between the Company and the Creditor. Under the terms of the Amendment Agreement, the Creditor has agreed to extend the Principal. The loan bears interest at a rate of 6% per annum, compounded annually and now has a maturity date of December 31, 2017 (the “Maturity Date"). At any time prior to the Maturity Date, the Creditor may elect to receive units (each a “Unit") of the Company in exchange for any portion of the Principal outstanding on the basis of one Unit for each $0.05 of indebtedness converted (the “Unit Conversion Option"). Each Unit consists of one share of the Company’s common stock and one warrant to purchase an additional share of the Company's common stock at a price of $0.10 per share for two years from the date of issuance. If the Creditor exercises the Unit Conversion Option, the Creditor will forgive the interest that accrued on the converted portion of the Principal.

~~F-13~~ITEM 4. CONTROLS AND PROCEDURES.

~~ROYAL~~Disclosure ~~MINES~~Controls ~~AND~~and ~~MINERALS~~Procedures ~~CORP. NOTES TO CONDENSED FINANCIAL STATEMENTS JANUARY 31, 2017 (UNAUDITED)~~

	If the Creditor exercises the Unit Conversion Option, the Creditor will receive a net profits interest (the “Net Profits Interest”) on any future profits received by the Company that are derived from the Company’s Technology on the basis of 1% of the Company’s net profits for every $10,000 of converted Principal. The Net Profits Interest will terminate when the Creditor receives eight times the amount of converted Principal.
9.	NOTES PAYABLE
	As of January 31, 2017 and April 30, 2016, notes payable consists of an unsecured $50,000 payable to New Verde River Mining and Robert H. Gunnison. The note payable bears 6% interest annually, is unsecured and is due on demand.
10.	COMMITMENTS AND CONTINGENCIES
	Lease obligations – The Company has operating leases for its corporate office, corporate housing and plant facilities. Future minimum lease payments under the operating leases as of January 31, 2017 are as follows:

We carried out an evaluation of the effectiveness of our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) as of July 31, 2017 (the “Evaluation Date”). This evaluation was carried out under the supervision and with the participation of our Chief Executive Officer and Chief Financial Officer. Based upon that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were deemed effective as of the Evaluation Date.

Fiscal year ending April 30, 2017	$	6,961
Fiscal year ending April 30, 2018	$	-
Fiscal year ending April 30, 2019	$	-
Fiscal year ending April 30, 2020	$	-
Fiscal year ending April 30, 2021	$	-

Changes in Internal Control Over Financial Reporting

~~Lease~~There ~~expense~~were ~~was~~no ~~$20,883~~changes ~~for~~in the ~~three~~Company’s internal control over ~~months~~financial ~~ended~~reporting ~~January~~that ~~31,~~occurred ~~2017~~during ~~and~~the ~~2016.~~fiscal ~~Lease~~quarter ~~expense~~ended ~~was~~July ~~$62~~31,~~649~~ ~~and~~2017 that ~~$63~~have materially affected,~~699 for~~ ~~the~~or ~~nine~~are ~~months~~reasonably ~~ended~~likely ~~January~~to 31materially affect, the ~~2017~~Company’s ~~and~~internal ~~2016,~~control ~~respectively~~over financial reporting.

Legal proceedings – The Company received a verified complaint (the “Complaint”), dated September 12, 2013, that was filed in Arizona Superior Court, Maricopa County, by McKendry Enterprises, Inc. Profit Sharing Plan and Retirement Trust (the “Landlord”), alleging breach of contract and breach of covenant of good faith and fair dealing in relation to the lease agreement dated June 6, 2007, between the Landlord and the Company, as amended (the “Lease Agreement”). The Complaint sought to recover damages of at least $108,581, including, but not limited to: 1) $56,358 rent; 2) $52,223 for maintenance, clean-up costs and construction; and 3) undetermined damages for additional repair, clean up and legal fees.7

OnPART ~~October~~II 22, 2014, the Company reached a settlement with the Landlord to pay $70,000 as follows: $5,000 on or before November 24, 2014; $5,000 payable 90 days thereafter; six payments of $7,000 due every 90 days thereafter; and two $9,000 payments due every 90 days thereafter. Each payment has a 3-~~day~~ ~~cure/grace~~OTHER ~~period.~~INFORMATION Any later payment will trigger a default and immediate recordation/enforcement of a judgment. Payment is secured by a judgment for $78,969 plus attorney fees incurred by Landlord to date, plus any further attorney fees incurred in relation to the judgment. As of January 31, 2017, the Company had fully paid the liability related to this matter.

OnITEM ~~May~~ 1, 2015, the Company received an amended notice of civil claim (the “Claim”), dated April 1, 2015 (original filed on December 31, 2014), that was filed in the Supreme Court of British Columbia, by 1254859 Ontario Inc. ~~(the~~LEGAL ~~“Plaintiff”), alleging breach of specific performance and breach of contract in relation to the Golden Anvil Asset Purchase by Gainey (see Note 3)~~PROCEEDINGS. ~~The Plaintiff seeks to recover damages of including, but not limited to: 1) 1,000,000 shares of Gainey stock; 2) damages in lieu of specific performance; and 3) damages for breach of contract.~~

On ~~June~~May 1, 2015, the Company ~~filed~~received ~~a response~~an toamended Notice of Civil Claim (the “Claim”), ~~denying:~~dated April 1), ~~entering~~2015 ~~into~~(original ~~any~~filed ~~oral~~on ~~agreement;~~December 2)31, 2014), that ~~the Plaintiff~~was ~~presented~~filed ain ~~potential~~the ~~transaction~~Supreme ~~with~~Court ~~Gainey;~~of 3)British ~~that~~Columbia, ~~there~~by ~~was~~1254859 ~~any~~Ontario Inc. ~~fee~~(the ~~payable to~~ “Plaintiff”), ~~upon~~alleging ~~completion~~breach of aspecific ~~transaction~~performance ~~with~~and ~~Gainey;~~breach ~~4) any~~of ~~existence~~contract ofin anrelation ~~agreement~~to ~~with~~the ~~Plaintiff~~Golden ~~and~~Anvil asAsset ~~such,~~Purchase ~~the~~by Gainey ~~transaction~~(see ~~was~~Note 3). ~~not~~The ~~related to any agreement with~~ Plaintiff; ~~and~~seeks ~~5) any obligation~~ to ~~pay~~recover adamages ~~fee to~~of ~~Plaintiff~~including, ~~contractually~~but ornot ~~otherwise.~~limited ~~While~~to: ~~the Company~~1) ~~intends~~1,000,000 toshares ~~vigorously~~of ~~defend~~Gainey ~~the~~stock; ~~lawsuit,~~2) ~~there~~damages isin nolieu ~~assurance~~of ~~that~~specific ~~the~~performance; ~~Company~~and ~~will~~3) bedamages ~~able~~for tobreach ~~successfully~~of ~~defend the lawsuit~~contract.

~~F-14~~On June 1, 2015, the Company filed a Response to Civil Claim, denying: 1) entering into any oral agreement; 2) that the Plaintiff presented a potential transaction with Gainey; 3) that there was any fee payable to Plaintiff upon completion of a transaction with Gainey; 4) any existence of an agreement with Plaintiff and as such, the Gainey transaction was not related to any agreement with Plaintiff; and 5) any obligation to pay a fee to Plaintiff, contractually or otherwise. While the Company intends to vigorously defend the lawsuit, there is no assurance that the Company will be able to successfully defend the lawsuit.

~~ROYAL~~On ~~MINES~~January ~~AND~~29, ~~MINERALS~~2016, ~~CORP.~~the ~~NOTES~~Plaintiff TOfiled ~~CONDENSED~~a ~~FINANCIAL~~Notice of ~~STATEMENTS~~Application ~~JANUARY~~(the 31“Application”) in the Supreme Court of British Columbia, seeking ~~2017~~an ~~(UNAUDITED)~~injunction to prohibit the distribution of shares of Gainey Capital Corp. held by the Company. A hearing took place on March 17, 2016. On June 16, 2016, the Application was dismissed against the Company.

	On January 29, 2016, the Plaintiff filed a Notice of Application (the “Application”) in the Supreme Court of British Columbia, seeking an injunction to prohibit the distribution of shares of Gainey Capital Corp. held by the Company. A hearing took place on March 17, 2016. On June 16, 2016, the Application was dismissed against the Company.
	No other legal proceedings are pending, threatened or contemplated.
11.	STOCKHOLDERS’ EQUITY
	Common and Preferred Stock:
	As of January 31, 2017 and April 30, 2016, there were 245,199,204 and 228,793,634, respectively, shares of common stock issued and outstanding and zero shares of preferred stock issued and outstanding.
	On September 23, 2016, the Company entered into the Amendment Agreement (see Note 2) where the Company issued 15,065,570 shares of common stock of the Company, with a market value of $106,966, to the Creditor as part of the joint venture settlement.
	On October 31, 2016, the Company issued an aggregate of 200,000 units at a price of $0.05 per unit in a private placement offering for subscriptions payable for which $10,000 was received in the prior fiscal year. Each unit was comprised of one share of the Company’s common stock and one share purchase warrant, with each warrant entitling the holder to purchase an additional share of the Company’s common stock at an exercise price of $0.10 for a two-year period from the date of issuance.
	On October 31, 2016, the Company issued an aggregate of 1,140,000 units at a price of $0.05 per unit in a separate concurrent private placement offering for subscription aggregate cash proceeds of $57,000. Each unit was comprised of one share of the Company’s common stock and one share purchase warrant, which each warrant entitling the holder to purchase an additional share of the Company’s common stock at an exercise price of $0.10 for a two-year period from the date of issuance.
12.	STOCK OPTIONS AND WARRANTS
	On July 7, 2016, the Company extended the expiration dates of 23,020,000 warrants previously issued on July 13, 2011, from an expiration date of July 12, 2016 to July 12, 2018. Each warrant entitles the holder to purchase an additional share of the Company’s common stock at a price of $0.10 per share.
	On July 30, 2016, 3,500,000 non-qualified stock options expired.
	On October 11, 2016, the Company granted non-qualified stock options under the 2013 Plan for the purchase of 200,000 shares of common stock at $0.01 per share. The nonqualified stock options were granted to one consultant, are fully vested and expire October 11, 2018. The Company calculated the value of the options using the Black-Scholes option pricing model using the following assumptions: a bond equivalent yield of 1.25%, volatility of 185%, estimated life of 2 years and closing stock price of $0.006 per share on the date of grant. The value for the 200,000 stock options is $399.
	On October 31, 2016, the Company issued an aggregate of 1,340,000 warrants in separate concurrent private placement offerings (see Note 11). Each warrant entitles the holder to purchase an additional share of the Company’s common stock at an exercise price of $0.10 for a two-year period from the date of issuance.

ITEM 1A.

RISK FACTORS.

FThe following are some of the important factors that could affect our financial performance or could cause actual results to differ materially from estimates contained in our forward-15looking statements. We may encounter risks in addition to those described below. Additional risks and uncertainties not currently known to us, or that we currently deem to be immaterial, may also impair or adversely affect our business, financial condition or results of operation.

~~ROYAL~~If ~~MINES~~we ~~AND~~do ~~MINERALS~~not ~~CORP.~~obtain ~~NOTES~~additional TOfinancing, ~~CONDENSED~~we ~~FINANCIAL~~may not be able ~~STATEMENTS~~to ~~JANUARY~~continue ~~31,~~our ~~2017~~operations ~~(UNAUDITED)~~at our Scottsdale Facility or enter into any potential joint venture or licensing agreements.

As of ~~January~~July 31, 2017 ~~and April 30~~, ~~2016,~~we ~~there~~had ~~were~~cash ~~28,800,000~~on ~~and~~hand ~~32,100,000~~of ~~stock options~~$2,975 ~~respectively,~~ and accumulated ~~135,025,129~~net ~~and~~loss ~~133,685,129~~of ~~stock warrants~~$19, ~~respectively~~733,967 ~~outstanding~~since ~~and exercisable~~inception. ~~13.~~Our ~~RELATED~~plan ~~PARTY~~of ~~TRANSACTIONS~~operation ~~For~~calls for ~~the~~significant ~~three~~expenses ~~months~~relating ~~ended~~to ~~January 31, 2017 and 2016,~~ the ~~Company~~operation ~~incurred~~of ~~$51,000~~our ~~and~~Scottsdale ~~$52,000, respectively, in consulting fees expense from companies with a common director or officer. For the nine months ended January 31, 2017~~ Facility and ~~2016,~~ the ~~Company~~entry incurred $150,000 and $153,000, respectively, in consulting fees expense from companies with a common director or officer. 14. SUBSEQUENT EVENTS On February 6, 2017, the Company granted non-qualified stock options under the 2013 Plan for the purchase of ~~5,500,000~~any ~~shares~~potential ofjoint ~~common stock at $0~~ventures.~~006~~ ~~per~~If ~~share.~~we ~~The~~are ~~nonqualified~~unable ~~stock options were granted~~ to ~~three~~raise sufficient ~~directors and two consultants~~financing, ~~are~~there ~~fully~~is ~~vested and expire February 6, 2022. The Company calculated the value of the options using the Black-Scholes option pricing model using the following assumptions:~~ a ~~bond~~substantial ~~equivalent~~risk ~~yield~~that ofwe ~~1.25%,~~will ~~volatility~~be ofunable ~~197%,~~to ~~estimated~~meet payments ~~life~~ of 5principal ~~years~~ and ~~closing~~interest ~~stock~~to ~~price~~our ofcreditors ~~$0.005~~and ~~per~~pay ~~share~~our onconsultants ~~the date of grant~~and employees. ~~The~~In ~~value for the 5~~addition,~~500,000~~ ~~stock~~we ~~options~~will isrequire ~~$26,187.~~substantial ~~The~~financing ~~Company~~to ~~received~~implement ~~$40,000~~our plan ~~in loans payable – related parties from one director~~ of ~~the~~operation ~~Company~~over ~~during~~ the ~~month~~next oftwelve ~~February 2017~~months. ~~The~~There ~~balance bears 10% interest,~~ is ~~secured~~no byassurance ~~the property and equipment in the Scottsdale plant and is due on demand. 15. RESTATEMENT The Company determined~~ that ~~the~~this will ~~balance~~satisfy ~~sheet~~all asour ofworking ~~April~~capital ~~30,~~requirements ~~2015, contained in the Company’s annual report on Form 10-K~~ for the ~~year~~next ~~ended~~twelve ~~April~~months ~~30,~~or that ~~2015,~~these ~~should~~funds will be ~~restated~~sufficient ~~due~~ to ~~default~~complete ofour ~~payment~~planned ~~on equipment leased in its Scottsdale Facility~~development program. ~~This restatement had the following impact on the Company’s condensed statement of operations and comprehensive loss for the three months ended January 31, 2016:~~

•Because ~~Decrease~~we inare ~~mineral~~a ~~exploration~~development ~~and~~stage ~~evaluation~~company, ~~expenses~~we face a high risk of ~~$9,884;~~business failure.

~~This~~We ~~restatement~~have ~~had~~earned minimal revenues from the ~~following~~processing of ore at ~~impact~~our Phoenix and Scottsdale Facilities. Our primary business activities have involved the exploration and development on the ~~Company’s~~Piute ~~condensed~~Valley ~~statement~~Property and the commencement of operations at our Phoenix Facility and ~~comprehensive~~Scottsdale Facility. In ~~loss~~August 2012, we did not pay the renewal fee on the Piute Valley Property and ~~condensed~~the BLM ~~statement~~Claims, allowing those claims to lapse. In November 2012, we shut down our Phoenix Facility and we have no plans to continue that operation. Potential investors should be aware of ~~cash~~the ~~flows~~difficulties ~~for~~normally encountered by exploration and development stage companies and the ~~nine~~high ~~months~~rate ~~ended~~of ~~January~~failure of such 31enterprises. The likelihood of success must be considered in light of the problems, ~~2016:~~expenses, difficulties, complications and delays encountered in connection with the exploration of mineral properties. These potential problems include, but are not limited to, unanticipated problems relating to exploration, and additional costs and expenses that may exceed current estimates.

~~• Decrease in mineral exploration and evaluation expenses of $34,986; • Reduction of accounts payable by $47,504; and • Increase of deferred rent by $12,518.~~8

~~The~~Because ~~decrease~~we inanticipate ~~mineral~~our ~~exploration~~operating ~~and evaluation~~ expenses ~~and~~will ~~accounts payable, and the elimination of the deferred~~increase ~~rent,~~prior ~~as previously reported, is due~~ to ~~the~~our ~~full~~earning ~~recognition~~significant ofrevenues, ~~the~~we ~~expense~~may ~~of the~~never ~~leased~~achieve ~~equipment at April 30, 2015~~profitability.

AWe ~~summary~~anticipate ofthat we will incur increased operating expenses prior to realizing any significant revenues. We therefore expect to incur significant losses into the ~~effect~~foreseeable offuture. We recognize that if we are unable to generate significant revenues from the operation of our Scottsdale ~~restatement~~Facility, we will not be able to earn profits or continue operations. There is no history upon which to base any assumption as ~~follows:~~to the likelihood that we will prove successful, and we may not be able to ever generate any operating revenues or achieve profitable operations. If we are unsuccessful in addressing these risks, our business will most likely fail.

~~F-16~~Certain work to be performed at our facility may require us to apply for permits from federal, state or local regulatory bodies.

~~ROYAL~~If ~~MINES~~our ~~AND~~applications ~~MINERALS~~for ~~CORP.~~permits ~~NOTES~~from TOthe ~~CONDENSED~~relevant ~~FINANCIAL~~regulatory ~~STATEMENTS~~bodies ~~JANUARY~~are 31denied, ~~2017~~we ~~(UNAUDITED)~~may not be able to proceed with our development programs as disclosed above, which could have a negative effect on our business.

		As Previously			Restatement
		Reported			Adjustments			As Restated
Statement of Operations and Comprehensive Loss –
For the Three Months Ended January 31, 2016
Mineral exploration and evaluation expenses	$	100,618		$	(9,884	)	$	90,734
Total operating expenses	$	290,989		$	(9,884	)	$	281,105
Loss from operations	$	290,989		$	(9,884	)	$	281,105
Net loss	$	314,071		$	(9,884	)	$	304,187
Comprehensive loss	$	314,071		$	(9,884	)	$	304,187
Statement of Operations and Comprehensive Loss –
For the Nine Months Ended January 31, 2016
Mineral exploration and evaluation expenses	$	257,263		$	(34,986	)	$	222,277
Total operating expenses	$	668,097		$	(34,986	)	$	633,111
Loss from operations	$	668,097		$	(34,986	)	$	633,111
Net loss	$	730,748		$	(34,986	)	$	695,762
Comprehensive loss	$	730,748		$	(34,986	)	$	695,762
Statement of Cash Flows – For the Nine Months Ended
January 31, 2016
Net loss	$	730,748		$	(34,986	)	$	695,762
Accounts payable	$	43,274		$	(47,504	)	$	(4,230	)
Deferred rent	$	(12,518	)	$	12,518		$	-

If we are unable to hire and retain key personnel, we may not be able to implement our business plan and our business will fail.

~~F-17~~Our success will largely depend on our ability to hire highly qualified personnel with experience in the geological field. These individuals may be in high demand and we may not be able to attract the staff we need. In addition, we may not be able to afford the high salaries and fees demanded by qualified personnel, or may lose such employees after they are hired. Our failure to hire key personnel when needed could have a significant negative effect on our business.

~~ITEM~~If 2.we ~~MANAGEMENT'S~~complete ~~DISCUSSION~~additional ~~AND~~financings ~~ANALYSIS~~through OFthe ~~FINANCIAL~~sale ~~CONDITION~~of shares ~~AND~~of ~~RESULTS~~our OFcommon ~~OPERATIONS~~stock, our existing stockholders will experience dilution.

~~CAUTIONARY~~The ~~STATEMENT~~most ~~REGARDING~~likely ~~FORWARD-LOOKING~~source ~~STATEMENTS~~of future financing presently available to us is through the issuance of our common stock. Issuing shares of our common stock, for financing purposes or otherwise, will dilute the interests of our existing stockholders.

~~Certain~~Because statements contained in this Quarterly Report constitute "forward-looking statements.” These statements, identified by words such as “plan,” "anticipate," "believe," "estimate," "should," "expect" and similar expressions include our ~~expectations~~stock ~~and~~is ~~objectives~~a ~~regarding~~penny ~~our future financial position~~stock, ~~operating~~stockholders ~~results~~will and business strategy. These statements reflect the current views of management with respect to future events and are subject to risks, uncertainties and other factors that may cause our actual results, performance or achievements, or industry results, to be ~~materially~~ ~~different~~more ~~from~~limited ~~those described~~ in ~~the~~their ~~forward-looking~~ability ~~statements. Such risks and uncertainties include those set forth under the caption "Part II – Item 1A. Risk Factors" and elsewhere in this Quarterly Report. We do not intend~~ to ~~update~~sell ~~the forward-looking~~their ~~information to reflect actual results or changes in the factors affecting such forward-looking information~~stock. We advise you to carefully review the reports and documents, particularly our Annual Reports, Quarterly Reports and Current Reports, that we file from time to time with the United States Securities and Exchange Commission (the “SEC”).

~~OVERVIEW~~Our common stock is considered to be a “penny stock” since it does not qualify for one of the exemptions from the definition of “penny stock” under Section 3a51-1 of the Exchange Act. Our common stock is a “penny stock” because it meets one or more of the following conditions (i) the stock trades at a price less than $5.00 per share; (ii) it is not traded on a “recognized” national exchange; (iii) it is not quoted on the Nasdaq Stock Market, or even if so, has a price less than $5.00 per share; or (iv) is issued by a company that has been in business less than three years with net tangible assets less than $5 million.

WeThe ~~were~~principal ~~incorporated~~result onor ~~December~~effect ~~14,~~of ~~2005~~being ~~under~~designated ~~the~~a ~~laws~~“penny stock” is that securities broker-dealers participating in sales of our common stock will be subject to the “penny stock” regulations set forth in Rules 15-2 ~~State~~through of15g-9 ~~Nevada~~promulgated under the Exchange Act. WeFor ~~are~~example, Rule 15g-2 requires broker-dealers dealing in penny stocks to provide potential investors with a ~~development~~document ~~stage~~disclosing ~~company~~the risks of penny stocks and ~~our~~to ~~primary~~obtain ~~objectives~~a manually ~~are~~signed and dated written receipt of the document at least two business days before effecting any transaction in a penny stock for the investor's account. Moreover, Rule 15g-9 requires broker-dealers in penny stocks to: approve the account of any investor for transactions in such stocks before selling any penny stock to that investor. This procedure requires the broker-dealer to (i) ~~commercially~~obtain from ~~and~~the ~~viably~~investor ~~extract~~information ~~and~~concerning ~~refine~~his ~~precious~~or ~~metals~~her ~~from~~financial situation, ~~specific~~investment ~~coal~~experience and investment objectives; (~~fly~~ii) reasonably determine, based on that information, that transactions in penny stocks are suitable for the investor and ~~bottom)~~that ~~ash~~the investor has sufficient knowledge and ~~other~~experience ~~leachable~~as ~~assets~~to be reasonably capable of evaluating the risks of penny stock transactions; (iiiii) ~~use our~~ ~~proprietary~~provide ~~processes~~the toinvestor ~~convert~~with ~~specific~~a ~~ore~~written ~~bodies~~statement ~~and~~setting ~~coal~~forth ~~ash~~the ~~landfills~~basis ~~into~~on which ~~valuable~~the ~~assets~~broker-dealer made the determination in (ii) above; and (~~iii~~iv) ~~joint~~receive ~~venture~~a signed and dated copy of such statement from the investor, ~~acquire~~confirming that it accurately reflects the investor's financial situation, investment experience and ~~develop~~investment ~~mining~~objectives. ~~projects~~Compliance inwith these requirements may make it more ~~North~~difficult ~~America~~and time consuming for holders of our common stock to resell their shares to third parties or to otherwise dispose of them in the market or otherwise.

We are focusing our business on commercially processing specific coal ash through a process of mechanical attrition, chemical treatments and thermal sintering that exposes extractable gold (the “Cholla Process”) at our processing and refining plant located in Scottsdale, Arizona (the “Scottsdale Facility”). This process agglomerates metal atoms into larger nanoparticles, before forming bulk gold metal. Once in bulk gold metal, all traditional assay methods can effectively measure value. 9

We are actively seeking to enter into joint ventures with third parties who have legal rights to fly ash resources, including landfills. There is no assurance that we will be able to commercially extract precious metals from fly ash or other mineable ores using our Cholla process or that we will be able to enter into joint ventures for the exploration and development of additional mining projects.

ITEM 2.	UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.

None

ITEM 3.	DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4.	MINE SAFETY DISCLOSURES.

None.

ITEM 5.	OTHER INFORMATION.

None.

ITEM 6.	EXHIBITS.

ITEM 7.	EXHIBITS, FINANCIAL STATEMENT SCHEDULES.

RESULTS OF OPERATIONS

Exhibit
Number	Description of Exhibits
2.1	Agreement and Plan of Merger dated September 24, 2007 among the Company, Royal Mines Acquisition Corp., Royal Mines Inc. and Kevin B. Epp.
2.2	Agreement and Plan of Merger dated October 6, 2007 between the Company and Royal Mines Acquisition Corp.
3.1	Articles of Incorporation.
3.2	Certificate of Change Pursuant to NRS 78.209 increasing the authorized capital of common stock to 300,000,000 shares, par value $0.001 per share.
3.3	Certificate of Amendment Pursuant increasing the authorized capital of common stock to 900,000,000 shares, par value $0.001 per share.
3.4	Bylaws.
3.5	Articles of Merger between the Company and Royal Mines Acquisition Corp.
4.1	Form of Share Certificate.
10.1	Technology and Asset Purchase Agreement dated April 2, 2007 among New Verde River Mining Co., Inc., Robert H. Gunnison and Royal Mines Inc.
10.2	Lease Agreement dated June 6, 2007 among McKendry Enterprises Inc., Profit Sharing Plan and Retirement Trust and Royal Mines Inc.
10.3	Management Consulting Agreement dated February 24, 2009 between the Company and Jason S. Mitchell.
10.4	First Amendment of Lease Agreement dated November 20, 2009 among McKendry Enterprises Inc., Profit Sharing Plan and Retirement Trust and Royal Mines Inc.
10.5	2011 Stock Incentive Plan.
10.6	Consulting Services Agreement dated February 1, 2012 between the Company and Alvin A. Snaper.
10.7	Agreement dated June 14, 2012 between the Company and Phoenix PMX LLC.
10.8	2013 Stock Incentive Plan.

~~Three Months and Nine Months Summary~~ 10

		Three Months Ended					Percentage			Nine Months Ended					Percentage
Exhibit
		January 31,			January 31,		Increase /			January 31,			January 31,		Increase /
Number	Description of Exhibits
		2017			2016		(Decrease)			2017			2016		(Decrease)
10.9	Settlement and Security Release Agreement dated September 27, 2013 between the Company and Golden Anvil S.A. de C.V.
Revenue	$	-		$	-		-		$	-		$	-		-
10.10	Form of Non-Qualified Option Agreement.
Expenses		(138,386	)		(281,105	)	(50.8)%			(728,668	)		(633,111	)	15.1%
10.11	Convertible Loan Agreement dated April 16, 2014, between the Company and Bruce Matheson.
Other items		(35,663	)		(23,082	)	54.5%			(100,759	)		(62,651	)	60.8%
10.12	Loan and Joint Venture Agreement dated April 16, 2014, between the Company and GJS Capital Corp.
Net loss	$	(174,049	)	$	(304,187	)	(42.8)%	)	$	(829,427	)	$	(695,762	)	19.2%
10.13	Letter of Intent dated for reference July 7, 2014, between the Company and Lafarge North America Inc.
10.14	Amended and Restated License Agreement dated August 20, 2014 between the Company and Alvin C. Johnson Jr.
10.15	Settlement Agreement dated October 22, 2014, between the Company and McKendry Enterprises, Inc. Profit Sharing Plan and Retirement Trust.
10.16	Amended and Restated License Agreement dated August 20, 2014 between the Company and Alvin C. Johnson Jr.
14.1	Code of Ethics.
31.1	Certification of Chief Executive Officer as adopted pursuant to Section 302 of the Sarbanes- Oxley Act of 2002.
31.2	Certification of Chief Financial Officer as adopted pursuant to Section 302 of the Sarbanes- Oxley Act of 2002.
32.1	Certification of Chief Executive Officer as adopted pursuant to Section 906 of the Sarbanes- Oxley Act of 2002.
32.2	Certification of Chief Financial Officer as adopted pursuant to Section 906 of the Sarbanes- Oxley Act of 2002.
101.INS	XBRL Instance Document.
101.SCH	XBRL Taxonomy Extension Schema.
101.CAL	XBRL Taxonomy Extension Calculation Linkbase.
101.DEF	XBRL Taxonomy Extension Definition Linkbase.
101.LAB	XBRL Taxonomy Extension Label Linkbase.
101.PRE	XBRL Taxonomy Extension Presentation Linkbase.

~~Revenues~~ 11

WeSIGNATURES earned no revenues during the nine months ended January 31, 2017 and 2016. We are currently in the development stage of our business. We can provide no assurances that we will be able to develop a commercially viable process or earn significant revenue from the processing of fly ash or other materials.

11Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Expenses

			ROYAL MINES AND MINERALS CORP.



Date:	September 13, 2017	By:	/s/ K. Ian Matheson
			K. IAN MATHESON
			Chief Executive Officer
			(Principal Executive Officer)




Date:	September 13, 2017	By:	/s/ Jason S. Mitchell
			JASON S. MITCHELL
			Chief Financial Officer
			(Principal Accounting Officer)

The major components of our operating expenses for the three and nine months ended January 31, 2017 and 2016 are outlined in the table below:

		Three Months Ended			Percentage		Nine Months Ended				Percentage
		January 31,		January 31,	Increase /		January 31,			January 31,	Increase /
		2017		2016	(Decrease)		2017			2016	(Decrease)
Mineral exploration and evaluation expenses	$	71,905	$	105,734	(32.0)%	$	214,806		$	267,277	(19.6)%
General and administrative		61,740		79,117	(22.0)%		190,904			205,273	(7.0)%
Depreciation and amortization		4,741		17,441	(72.8)%		39,624			52,324	(24.3)%
Loss in marketable securities on joint venture settlement		-		-	0.0%		189,567			-	100.0%
Loss on joint venture settlement		-		-	0.0%		106,966			-	100.0%
Other than temporary loss on marketable securities		-		78,813	(100.0)%		-			107,200	(100.0)%
Bad debt expense		-		-	0.0%		-			1,037	(100.0)%
Gain on sale of marketable securities		-		-	0.0%		(13,199	)		-	100.0%
Total operating expenses	$	138,386	$	281,105	(50.8)%	$	728,668		$	633,111	15.1%

Our operating expenses for the three months ended January 31, 2017 decreased as compared to the three months ended January 31, 2016. The decrease in our operating expenses primarily relates to the recording of other than temporary loss on marketable securities, along with $29,409 in compensation expense for stock options issued, during the three months ended January 31, 2016. We also had a reduction in depreciation expense for the three months ended January 31, 2017 compared to the three months ended January 31, 2016.

Our operating expenses for the nine months ended January 31, 2017 increased as compared to the nine months ended January 31, 2016. The increase in our operating expenses primarily relates to the recording of losses from our entry into a joint venture settlement agreement and the sale of securities from that settlement. The increase was partially offset by a decrease in mineral exploration and evaluation expenses and a gain on sale of marketable securities.

Mineral exploration and evaluation expenses primarily consist of rent, consulting fees and labor expenses in our Scottsdale facility.

Our general and administrative expenses primarily consists of: (i) monthly consulting fees paid to our Chief Financial Officer, Mr. Mitchell; and (ii) legal and audit fees in connection with meeting our reporting requirements under the Exchange Act and (iii) travel expenses for our executives and directors.

Loss in marketable securities on joint venture settlement and loss on joint venture settlement relates to our entry into an amended and restated loan and joint venture agreement (the “Amendment Agreement”) with GJS Capital Corp. (the "Creditor") and Gregg Sedun (the “Consultant”). The Amendment Agreement replaces in its entirety the original loan and joint venture agreement (the “Original Agreement”) dated April 16, 2014, between the Creditor and us. Under the terms of the Amendment Agreement, the Creditor has agreed to extend the previously advanced $150,000 Convertible Loan (the “Principal”). The loan bears interest at a rate of 6% per annum, compounded annually and now has a maturity date of December 31, 2017 (the “Maturity Date"). We settled $329,000 in joint venture contributed capital in exchange for 15,065,570 shares of our common stock. Also, we transferred, 1,400,000 of our 1,600,000 common shares of Gainey Capital Corp. to the Creditor. The Creditor represented that it was not a "US Person" as that term is defined by Regulation S of the Securities Act of 1933, as amended.

Other than temporary loss on sale of marketable securities relates to the impairment losses recognized for the continued decline in stock price of our Gainey Capital Corp shares.

We anticipate that our operating expenses will increase significantly as we implement our plan of operation for our Scottsdale Facility.

LIQUIDITY AND CAPITAL RESOURCES

Working Capital
							Percentage
		At January 31, 2017			At April 30, 2016		Increase / (Decrease)
Current assets	$	14,637		$	60		24,295%
Current liabilities		(2,630,209	)		(2,206,841	)	19.2%
Working capital deficit	$	(2,615,572	)	$	(2,206,781	)	18.5%

Cash Flows
		Nine Months Ended
		January 31, 2017			January 31, 2016
Net cash used in operating activities	$	(397,789	)	$	(382,413	)
Net cash used in investing activities		40,280			-
Net cash provided by financing activities		366,000			380,000
Net increase(decrease) in cash during period	$	8,491		$	(2,413	)

As of January 31, 2017, we had a working capital deficit of $2,615,572 as compared to a working capital deficit of $2,206,781 as of April 30, 2016. The increase in our working capital deficit is primarily due to an increase in loans payable-related parties, accounts payable–related parties and accrued interest-related parties.

FINANCING REQUIREMENTS

Currently, we do not have sufficient financial resources to complete our plan of operation for the next twelve months. As such, our ability to complete our plan of operation is dependent upon our ability to obtain additional financing in the near term.

We anticipate continuing to rely on equity sales of our common shares in order to continue to fund our business operations. Issuances of additional shares will result in dilution to our existing shareholders. There is no assurance that we will achieve any additional sales of our equity securities or arrange for debt or other financing to fund our planned mining, development and exploration activities.

OFF-BALANCE SHEET ARRANGEMENTS

CRITICAL ACCOUNTING POLICIES

We have identified certain accounting policies, described below, that are most important to the portrayal of our current financial condition and results of operations. Our significant accounting policies are disclosed in Note 1 to our interim financial statements included in this Quarterly Report.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

Not Applicable.

ITEM 4. CONTROLS AND PROCEDURES.

Disclosure Controls and Procedures

We carried out an evaluation of the effectiveness of our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) as of January 31, 2017 (the “Evaluation Date”). This evaluation was carried out under the supervision and with the participation of our Chief Executive Officer and Chief Financial Officer. Based upon that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were effective as of the Evaluation Date.

Changes in Internal Control over Financial Reporting

There were no changes in our internal control over financial reporting that occurred during the fiscal quarter ended January 31, 2017 that have materially affected, or that are reasonably likely to materially affect, our internal control over financial reporting.

PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

The Company received a verified complaint (the “Complaint”), dated September 12, 2013, that was filed in Arizona Superior Court, Maricopa County, by McKendry Enterprises, Inc. Profit Sharing Plan and Retirement Trust (the “Landlord”), alleging breach of contract and breach of covenant of good faith and fair dealing in relation to the lease agreement dated June 6, 2007, between the Landlord and the Company, as amended (the “Lease Agreement”). The Complaint sought to recover damages of at least $108,581, including, but not limited to: 1) $56,358 rent; 2) $52,223 for maintenance, clean-up costs and construction; and 3) undetermined damages for additional repair, clean up and legal fees.

On October 22, 2014, the Company reached a settlement with the Landlord to pay $70,000 as follows: $5,000 on or before November 24, 2014; $5,000 payable 90 days thereafter; six payments of $7,000 due every 90 days thereafter; and two $9,000 payments due every 90 days thereafter. As of January 31, 2017, the Company had fully paid its liability related to this matter.

On May 1, 2015, the Company received an amended Notice of Civil Claim (the “Claim”), dated April 1, 2015 (original filed on December 31, 2014), that was filed in the Supreme Court of British Columbia, by 1254859 Ontario Inc. (the “Plaintiff”), alleging breach of specific performance and breach of contract in relation to the Golden Anvil Asset Purchase by Gainey (see Note 3). The Plaintiff seeks to recover damages of including, but not limited to: 1) 1,000,000 shares of Gainey stock; 2) damages in lieu of specific performance; and 3) damages for breach of contract.

On June 1, 2015, the Company filed a Response to Civil Claim, denying: 1) entering into any oral agreement; 2) that the Plaintiff presented a potential transaction with Gainey; 3) that there was any fee payable to Plaintiff upon completion of a transaction with Gainey; 4) any existence of an agreement with Plaintiff and as such, the Gainey transaction was not related to any agreement with Plaintiff; and 5) any obligation to pay a fee to Plaintiff, contractually or otherwise. While the Company intends to vigorously defend the lawsuit, there is no assurance that the Company will be able to successfully defend the lawsuit.

On January 29, 2016, the Plaintiff filed a Notice of Application (the “Injunction Application”) in the Supreme Court of British Columbia, seeking an injunction to prohibit the distribution of shares of Gainey Capital Corp. held by the Company. A hearing took place on March 17, 2016. The Company successfully opposed the Injunction Application and on June 16, 2016 the Injunction Application was dismissed against the Company.

ITEM 1A. RISK FACTORS.

The following are some of the important factors that could affect our financial performance or could cause actual results to differ materially from estimates contained in our forward-looking statements. We may encounter risks in addition to those described below. Additional risks and uncertainties not currently known to us, or that we currently deem to be immaterial, may also impair or adversely affect our business, financial condition or results of operation.

If we do not obtain additional financing, we may not be able to continue our operations at our Scottsdale Facility or enter into any potential joint venture or licensing agreements.

As of January 31, 2017, we had cash on hand of $8,551 and accumulated net loss of $19,383,774 since inception. Our plan of operation calls for significant expenses in connection with the operation of our Scottsdale Facility and the entry of any potential joint ventures. If we are unable to raise sufficient financing, there is a substantial risk that we will be unable to meet payments of principal and interest to our creditors and pay our consultants and employees. In November 2012, we shut down our Phoenix Facility and we have no plans to continue that operation. In addition, we will require substantial financing in order to implement our plan of operation over the next twelve months. There is no assurance that this will satisfy all of our working capital requirements for the next twelve months or that these funds will be sufficient to complete our planned development program.

Because we are a development stage company, we face a high risk of business failure.

We have earned minimal revenues from the processing of ore at our Phoenix and Scottsdale Facilities. Our primary business activities have involved the exploration and development on the Piute Valley Property and the commencement of operations at our Phoenix Facility and Scottsdale Facility. In August 2012, we did not pay the renewal fee on the Piute Valley Property and the BLM Claims, allowing those claims to lapse. In November 2012, we shut down our Phoenix Facility and we have no plans to continue that operation. Potential investors should be aware of the difficulties normally encountered by exploration and development stage companies and the high rate of failure of such enterprises. The likelihood of success must be considered in light of the problems, expenses, difficulties, complications and delays encountered in connection with the exploration of mineral properties. These potential problems include, but are not limited to, unanticipated problems relating to exploration, and additional costs and expenses that may exceed current estimates.

Because we anticipate our operating expenses will increase prior to our earning significant revenues, we may never achieve profitability.

We anticipate that we will incur increased operating expenses prior to realizing any significant revenues. We therefore expect to incur significant losses into the foreseeable future. We recognize that if we are unable to generate significant revenues from the operation of our Scottsdale Facility, we will not be able to earn profits or continue operations. There is no history upon which to base any assumption as to the likelihood that we will prove successful, and we may not be able to ever generate any operating revenues or achieve profitable operations. If we are unsuccessful in addressing these risks, our business will most likely fail.

Certain work to be performed at our facility may require us to apply for permits from federal, state or local regulatory bodies.

If our applications for permits from the relevant regulatory bodies are denied, we may not be able to proceed with our development programs as disclosed above, which could have a negative effect on our business.

If we are unable to hire and retain key personnel, we may not be able to implement our business plan and our business will fail.

Our success will largely depend on our ability to hire highly qualified personnel with experience in the geological field. These individuals may be in high demand and we may not be able to attract the staff we need. In addition, we may not be able to afford the high salaries and fees demanded by qualified personnel, or may lose such employees after they are hired. Our failure to hire key personnel when needed could have a significant negative effect on our business.

If we complete additional financings through the sale of shares of our common stock, our existing stockholders will experience dilution.

The most likely source of future financing presently available to us is through the issuance of our common stock. Issuing shares of our common stock, for financing purposes or otherwise, will dilute the interests of our existing stockholders.

Because our stock is a penny stock, stockholders will be more limited in their ability to sell their stock.

Our common stock is considered to be a “penny stock” since it does not qualify for one of the exemptions from the definition of “penny stock” under Section 3a51-1 of the Exchange Act. Our common stock is a “penny stock” because it meets one or more of the following conditions (i) the stock trades at a price less than $5.00 per share; (ii) it is not traded on a “recognized” national exchange; (iii) it is not quoted on the Nasdaq Stock Market, or even if so, has a price less than $5.00 per share; or (iv) is issued by a company that has been in business less than three years with net tangible assets less than $5 million.

The principal result or effect of being designated a “penny stock” is that securities broker-dealers participating in sales of our common stock will be subject to the “penny stock” regulations set forth in Rules 15-2 through 15g-9 promulgated under the Exchange Act. For example, Rule 15g-2 requires broker-dealers dealing in penny stocks to provide potential investors with a document disclosing the risks of penny stocks and to obtain a manually signed and dated written receipt of the document at least two business days before effecting any transaction in a penny stock for the investor's account. Moreover, Rule 15g-9 requires broker-dealers in penny stocks to approve the account of any investor for transactions in such stocks before selling any penny stock to that investor. This procedure requires the broker-dealer to (i) obtain from the investor information concerning his or her financial situation, investment experience and investment objectives; (ii) reasonably determine, based on that information, that transactions in penny stocks are suitable for the investor and that the investor has sufficient knowledge and experience as to be reasonably capable of evaluating the risks of penny stock transactions; (iii) provide the investor with a written statement setting forth the basis on which the broker-dealer made the determination in (ii) above; and (iv) receive a signed and dated copy of such statement from the investor, confirming that it accurately reflects the investor's financial situation, investment experience and investment objectives. Compliance with these requirements may make it more difficult and time consuming for holders of our common stock to resell their shares to third parties or to otherwise dispose of them in the market or otherwise.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4. MINE SAFETY DISCLOSURES.

None.

ITEM 5. OTHER INFORMATION.

None.

ITEM 6. EXHIBITS.

Exhibit
Number	Description of Exhibits
2.1	Agreement and Plan of Merger dated September 24, 2007 among the Company, Royal Mines Acquisition Corp., Royal Mines Inc. and Kevin B. Epp. (4)
2.2	Agreement and Plan of Merger dated October 6, 2007 between the Company and Royal Mines Acquisition Corp. (5)
3.1	Articles of Incorporation. (1)
3.2	Certificate of Change Pursuant to NRS 78.209 increasing the authorized capital of common stock to 300,000,000 shares, par value $0.001 per share. (2)
3.3	Certificate of Amendment Pursuant increasing the authorized capital of common stock to 900,000,000 shares, par value $0.001 per share.(11)
3.4	Bylaws. (1)
3.5	Articles of Merger between the Company and Royal Mines Acquisition Corp. (5)
4.1	Form of Share Certificate. (1)
10.1	Technology and Asset Purchase Agreement dated April 2, 2007 among New Verde River Mining Co., Inc., Robert H. Gunnison and Royal Mines Inc. (5)
10.2	Lease Agreement dated June 6, 2007 among McKendry Enterprises Inc., Profit Sharing Plan and Retirement Trust and Royal Mines Inc. (5)
10.3	Management Consulting Agreement dated February 24, 2009 between the Company and Jason S. Mitchell. (6)
10.4	First Amendment of Lease Agreement dated November 20, 2009 among McKendry Enterprises Inc., Profit Sharing Plan and Retirement Trust and Royal Mines Inc. (5)
10.5	2011 Stock Incentive Plan.(7)
10.6	Consulting Services Agreement dated February 1, 2012 between the Company and Alvin A. Snaper.(8)
10.7	Agreement dated June 14, 2012 between the Company and Phoenix PMX LLC.(9)
10.8	2013 Stock Incentive Plan.(10)
10.9	Settlement and Security Release Agreement dated September 27, 2013 between the Company and Golden Anvil S.A. de C.V.(12)
10.10	Form of Non-Qualified Option Agreement.(13)
10.11	Convertible Loan Agreement dated April 16, 2014, between the Company and Bruce Matheson.(14)
10.12	Loan and Joint Venture Agreement dated April 16, 2014, between the Company and GJS Capital Corp.(15)
10.13	Letter of Intent dated for reference July 7, 2014, between the Company and Lafarge North America Inc.(16)
10.14	Amended and Restated License Agreement dated August 20, 2014 between the Company and Alvin C. Johnson Jr.(17)
10.15	Settlement Agreement dated October 22, 2014, between the Company and McKendry Enterprises, Inc. Profit Sharing Plan and Retirement Trust. (18)
10.16	Amended and Restated Loan and Joint Venture Agreement dated September 23, 2016, between Royal Mines and Minerals Corp. and GJS Capital Corp. (19)
14.1	Code of Ethics. (3)
31.1	Certification of Chief Executive Officer as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2	Certification of Chief Financial Officer as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1	Certification of Chief Executive Officer as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

Exhibit
Number	Description of Exhibits
32.2	Certification of Chief Financial Officer as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS	XBRL Instance Document.
101.SCH	XBRL Taxonomy Extension Schema.
101.CAL	XBRL Taxonomy Extension Calculation Linkbase.
101.DEF	XBRL Taxonomy Extension Definition Linkbase.
101.LAB	XBRL Taxonomy Extension Label Linkbase.
101.PRE	XBRL Taxonomy Extension Presentation Linkbase.

Notes:

(1)	Filed with the SEC as an exhibit to our Registration Statement on Form SB-2 originally filed on August 17, 2006, as amended.
(2)	Filed with the SEC as an exhibit to our Current Report on Form 8-K filed June 12, 2007.
(3)	Filed with the SEC as an exhibit to our Annual Report on Form 10-KSB filed July 30, 2007.
(4)	Filed with the SEC as an exhibit to our Current Report on Form 8-K filed on September 28, 2007
(5)	Filed with the SEC as an exhibit to our Current Report on Form 8-K filed October 12, 2007.
(6)	Filed with the SEC as an exhibit to our Current Report on Form 8-K filed February 26, 2009.
(7)	Filed with the SEC as an exhibit to our Quarterly Report on Form 10-Q filed September 15, 2010.
(8)	Filed with the SEC as an exhibit to our Current Report on Form 8-K filed February 1, 2012.
(9)	Filed with the SEC as an exhibit to our Current Report on Form 8-K filed June 20, 2012.
(10)	Filed with the SEC as an exhibit to our Current Report on Form 8-K filed June 24, 2013.
(11)	Filed with the SEC as an exhibit to our Current Report on Form 8-K filed August 28, 2013.
(12)	Filed with the SEC as an exhibit to our Current Report on Form 8-K filed October 2, 2013.
(13)	Filed with the SEC as an exhibit to our Current Report on Form 8-K filed November 1, 2013.
(14)	Filed with the SEC as an exhibit to our Current Report on Form 8-K filed April 21, 2014.
(15)	Filed with the SEC as an exhibit to our Current Report on Form 8-K filed April 21, 2014.
(16)	Filed with the SEC as an exhibit to our Current Report on Form 8-K filed July 16, 2014.
(17)	Filed with the SEC as an exhibit to our Quarterly Report on from 10-Q filed on September 22, 2014.
(18)	Filed with the SEC as an exhibit to our Quarterly Report on from 10-Q filed on December 16, 2014.
(19)	Filed as an exhibit to our Current Report on Form 8-K filed with the SEC on September 28, 2016.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

			ROYAL MINES AND MINERALS CORP.
Date:	March 15, 2017	By:	/s/ K. Ian Matheson
			K. IAN MATHESON
			Chief Executive Officer
			(Principal Executive Officer)
Date:	March 15, 2017	By:	/s/ Jason S. Mitchell
			JASON S. MITCHELL
			Chief Financial Officer
			(Principal Accounting Officer)

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