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News Release

Thursday, February 4, 2021: RT MINERALS CORP. ANNOUNCES DRILL MOBILIZATION AT LINK-CATHARINE GOLD PROPERTY NEAR KIRKLAND LAKE, ONTARIO, AND PRIVATE PLACEMENT

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

 

Vancouver, B.C. – February 4, 2021 ‐ RT Minerals Corp. (TSXV: RTM) (OTC Pink: RTMFF) (the “Company”, “RTM”) announces drill mobilization at its 100% optioned Link-Catharine RLDZ gold property (the “Property”) located approximately 22 kilometres south east of Kirkland Lake, Ontario, Canada.

 

Drilling at the Link-Catharine property will focus on geophysical anomalies outlined from a 3D Distributed Array IP geophysical program completed in January 2021 by Canadian Exploration Services Ltd. (Geophysics results; see website: rtmcorp.com). The geophysical program identified  targets immediately to the south, north, east and to depth in relation to the drilling completed by RTM in November and December 2020. 

 

In addition, the current drill program will follow up the significant discovery of the three separate sub-parallel / en-echelon gold sections encountered by RTM drilling in October and November 2020 and as detailed in the Company’s news release of December 1, 2020. The 2020 drilling encountered intermittent gold mineralization within a general area of approximately 130m west to east, 100m north to south and to a depth of 140m. The potential for further mineralization is open in all directions.

 

Highlights of the 2020 drilling consist of near surface intercepts of up to 8m of 9.43 grams per tonne gold (g/t Au) (CA 20-01), 0.49m of 7.43 g/t Au (CA 20-02), 0.49m of 7.43 g/t Au (CA 20-03), 0.05m of 6.56 g/t Au (CA 20-04) and 6.9m of 2.25 g/t Au (CA 20-05). The above higher grade intervals were contained within areas of intermittent gold mineralization over 35m to 54m intervals. For complete drill hole intercepts see the Company’s December 1, 2020 press release. True widths of the gold mineralization from the 2020 drilling are unknown at this time.

    

Follow up drilling based on the results of the 3D geophysical program along with the widespread nature of gold mineralization traversing all rock units within the Property, as well as the strong hydrothermal alteration with sulphides, suggests a significant gold bearing system is present. Large anomalous gold halos, with high grade intervals contained therein, as observed at the Link-Catharine property, are similar to the past producing Kerr Addison Mine (“Kerr”) located about 25 km northeast of RTM’s Link-Catharine property. The age of the rocks as well as the presence of the green carbonate (Fuchsite) and contiguous ultramafic volcanic facies containing varying amounts of quartz and sulphides are also similar to parts of the geologic package observed at both Link-Catharine and the Kerr. The Kerr was a major Archean gold deposit with about 900m of strike length and extended to approximately 2000m in depth. The current results from the Link-Catharine property indicate an Archean gold bearing suite of volcanic rocks. The planned RTM drill program will consist of 10 holes for approximately 3000m of drilling. 

 

Mr. Garry Clark, P.Geo., is the Independent Qualified Person for the Norwalk and Link-Catharine RLDZ gold properties and he has reviewed and approves the technical contents of this press release.

PRIVATE PLACEMENT

 

The Company proposes to undertake a flow-through unit private placement to raise gross proceeds of up to $270,000 (the “Offering”) through the sale of up to 3,000,000 flow-through units priced at $0.09 (the “Units”). Each Unit consists of one flow-through common share and one half of one share purchase warrant (the “Warrant”), with each whole Warrant exercisable into one further common share at a price of $0.12 for a term of two years.  

 

The Offering will be conducted under available exemptions from the prospectus requirements of applicable securities legislation and participation in the Offering will be available to existing shareholders in qualifying jurisdictions in Canada in accordance with the provisions of BC Instrument 45-354 (the “Existing Shareholder Exemption”) and similar provisions in other jurisdictions’ securities legislation and will be available to persons in qualifying jurisdictions in Canada who have obtained advice as to the suitability of the investment from a person registered as an investment dealer in accordance with the provisions of BC Instrument 45-536 and similar provisions in other jurisdictions’ securities legislation. 

 

The Company has set February 3, 2021 as the record date for the purpose of determining shareholders entitled to participate in the Offering in reliance on the Existing Shareholder Exemption.  Qualifying shareholders who wish to participate in the Offering should contact the Company as detailed below.  If the Offering is oversubscribed, units will be allocated pro rata amongst all subscribers. 

 

The proceeds from the sale of the Offering will be used for exploration activity on the Company’s 100% optioned Link-Catharine RLDZ gold property.

 

Finders’ fees may be payable in connection with the Offering in accordance with the policies and subject to the approval of the TSX Venture Exchange (“TSXV”).  

 

The Offering is subject to the approval of the TSXV.

 

 
About RT Minerals Corp.

RT Minerals Corp. is a junior exploration company listed on the TSX Venture Exchange under the symbol “RTM” and has 40,050,963 common shares issued and outstanding. The Company holds an option to acquire 100% interest in the Link-Catharine RLDZ gold property that is comprised of 15 unpatented single cell mining claims with a total area of 220 hectares in one claim block located approximately 25 km SSE of the Town of Kirkland Lake, Ontario. The Company also holds a 100% interest in the Norwalk gold property located near Wawa, Ontario. 

 

For more information on the Company and its properties, please visit the Company’s website at www.rtmcorp.com.

 

FOR FURTHER INFORMATION CONTACT:

Donald M. Clark Chairman, President and Chief Executive Officer RT Minerals Corp. Telephone: 604-681-3170 Fax: 604-681-3552

 

Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.

 

Forward-Looking Statements This news release contains certain forward-looking statements, which relate to future events or future performance (including, but not limited to, the overall size of the Offering, the proposed use of proceeds and the expected closing of any tranches thereof) and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company.  Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company’s exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry.  All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com.  These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.

Disclaimer

The Canadian National Stock Exchange has neither approved nor disapproved of the information contained herein.

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