RTG Announces Philippines Lifts the Open Pit Mining Ban Announcement to the Toronto Stock Exchange and Australian Securities Exchange
Not for release to US wire services or distribution in the United States
RTG ANNOUNCES PHILIPPINES LIFTS THE OPEN PIT MINING BAN
ANNOUNCEMENT TO THE TORONTO STOCK EXCHANGE
AND AUSTRALIAN SECURITIES EXCHANGE
5 JANUARY 2022
The Board of RTG Mining Inc. (“RTG”, the “Company”) (TSX Code: RTG, ASX Code:
RTG) is pleased to announce that Secretary Roy Cimatu of the Department of
Environment and Natural Resources ( “DENR”) signed Department Administrative
Order No. 2021-40 on 23 December 2021, lifting the four -year-old ban on the open -pit
method of mining for copper, gold, silver, and complex ores in the country.
The DENR order covers all mining tenement holders that will adopt a surface mining
method and sets strict conditions and requirements for those that would use the open -
pit method to ensure all mining is undertaken to world’s best practices. We are pleased
with the DENR’s continued efforts to encourage the mining industry. The Mabilo Project
developed in line with the DENR’s directives, has the capacity to stimulate economic
growth in the local communities, the Province in which the project is located and the
Philippines more broadly.
The lifting of the ban, acco rding to the DENR order, is meant to “revitalize the mining
industry and usher in significant economic benefits to the country by providing raw
materials for the construction and development of other industries and by increasing
employment opportunities in rural areas.”
ABOUT RTG MINING INC
RTG Mining Inc. is a mining and exploration company listed on the main board of the
Toronto Stock Exchange and the Australian Securities Exchange. RTG is currently
focused primarily on progressing the Mabilo Project to start-up having recently received
a mining permit for the Project, with a view to moving quickly and safely to a producing
gold and copper company.
RTG also has a number of exciting new opportunities including the Panguna Project in
Bougainville, which it remains committed to but during these uncertain times the primary
focus is on advancing the Mabilo Project.
RTG has an experienced management team which has to date developed seven mines
in five different countries, including being responsib le for the development of the
Masbate Gold Mine in the Philippines through CGA Mining Limited. RTG has some of
the most respected international investors as shareholders including Franklin
Templeton, Equinox Partners and Sun Valley.
ENQUIRIES
Australian Contact US Contact
President & CEO – Justine Magee Investor Relations – Jaime Wells
Tel: +61 8 6489 2900 +1 970 640 0611
Fax: +61 8 6489 2920
Email: [email protected] [email protected]
COMPLIANCE STATEMENT
Date: 5 January 2022
Authorised for release by: By the Board of Directors
CAUTIONARY NOTE STATEMENT
The Toronto Stock Exchange has not reviewed nor does it accept responsibility for the
accuracy or adequacy of this press release, which has been prepared by management.
This announcement includes certain “forward-looking statements” within the meaning of
Canadian securities legislation. All statements in this announcement, other than
statements of historical facts are forward -looking statements, including statements
made or implied relating to the anticipated timing, closing, size, structure of and
exemptions utilized under the Private Placement, the use of the net proceeds from the
Private Placement, the timing of the shareholder meeting to approve Tranche 2 of the
Private Placement, the Company’s opportunities to diversify its Philippine interests and
to participate in the redevelopment of the Panguna Mine in Bougainville, the Company's
objectives, strategies to achieve those objectives, the Company's beliefs, plans,
estimates and intentions, and similar statements concernin g anticipated future events,
plans for further exploration. Forward -looking statements involve various risks and
uncertainties and are based on certain factors and assumptions. There can be no
assurance that such statements will prove to be accurate, and actual results and future
events could differ materially from those anticipated in such statements. Important
factors that could cause actual results to differ materially from RTG’s expectations
include uncertainties related to market conditions and demand for the Private
Placement, the receipt of requisite shareholder and regulatory approvals, fluctuations in
gold and other commodity prices and currency exchange rates; uncertainties relating to
interpretation of drill results and the geology, continuity and grade of mineral deposits;
uncertainty of estimates of capital and operating costs, recovery rates, production
estimates and estimated economic return; the need for cooperation of government
agencies in the development of RTG’s mineral projects; the need to obtain additional
financing t o develop RTG’s mineral projects; the possibility of delay in development
programs or in construction projects and uncertainty of meeting anticipated program
milestones for RTG’s mineral projects and other risks and uncertainties as discussed in
RTG’s annual report for the year ended December 31, 2020 and detailed from time to
time in our other filings with the Canadian securities regulatory authorities available at
www.sedar.com. The forward ‐looking statements made in this announcement relate
only to event s as of the date on which the statements are made. RTG will not release
publicly any revisions or updates to these forward ‐looking statements to reflect events,
circumstances or unanticipated events occurring after the date of this announcement
except as required by law or by any appropriate regulatory authority.
NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES
This announcement has been prepared for publication in Canada and Australia and
may not be released to US wire services or distributed in the United States. This
announcement does not constitute an offer to sell, or a solicitation of an offer to buy,
securities in the United States or any other jurisdiction. Any securities described in this
announcement have not been, and will not be, registered under the US Securities Act of
1933, as amended (the “US Securities Act”), or any state securities laws, and may not
be offered or sold in the United States except in transactions exempt from, or not
subject to, registration under the US Securities Act and applicable US state securities
laws.