RT Minerals Corp. Abandons 102 Square Kilometres of Claims Near Kirkland Lake, Ontario
Vancouver, April 13, 2022 - RT Minerals Corp. (TSXV:RTM) (OTC:RTMFF) (the "Company" or "RTM") announces that further to the Company's news release of March 22, 2022, the Company has abandoned and returned to the Crown (MNDM-MLAS, Ontario) the 102 square kilometres of claims (the "CGI Claims") originally acquired on July 14, 2021 for consideration of 21,000,000 common shares of the Company (the "Surplus Escrow Shares") that were subject to a TSX Venture Exchange ("TSXV") Surplus Escrow Share Agreement (the "Escrow Agreement"). The Company has proceeded to abandon the CGI Claims as it was unable to reach an agreement with the original vendors to return the CGI Claims to them. As detailed in the March 22, 2022 news release, the abandonment of the CGI Claims results in a requirement under the Escrow Agreement and the policies of the TSXV to cancel the 18,900,000 Surplus Escrow Shares remaining in escrow. The Company will proceed to take such steps as are required to effect the cancellation of the remaining Surplus Escrow Shares.
About RT Minerals Corp.
RT Minerals Corp. is a junior exploration company listed on the TSX Venture Exchange under the symbol "RTM" and has 78,694,654 common shares issued and outstanding, of which 18,900,000 shares are held in escrow and will now be subject to cancellation. The Company holds an option to acquire a 100% interest in the Link-Catharine RLDZ gold property comprised of fifteen unpatented single cell mining claims with a total area of 220 hectares in one claim block. The Link-Catharine property is located twenty-two kilometres south-southeast of the town of Kirkland Lake, Ontario. The Company also holds a 100% interest in the Norwalk gold property 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:
Douglas J. Andrews, B.Sc., M.Sc.
President and Chief Executive Officer
Telephone: 403-200-6542
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.