RTG Mining Inc. Announces Issue of US$3.8 Million Chess Depository Instruments Under Tranche 2 of Placement Announcement to the Toronto Stock Exchange and Australian Securities Exchange

Not for release to US wire services or distribution in the United States

RTG MINING INC. ANNOUNCES ISSUE OF US$3.8 MILLION CHESS

DEPOSITORY INSTRUMENTS UNDER TRANCHE 2 OF PLACEMENT

ANNOUNCEMENT TO THE TORONTO STOCK EXCHANGE

AND AUSTRALIAN SECURITIES EXCHANGE

15 JULY 2020

The Board of RTG Mining Inc. (“ RTG”, the “Company”) (TSX Code: RTG, ASX Code:

RTG) is pleased to announce that the Company has successfully completed the issue

of 102,422,120 Chess Depository Instruments (“ Securities”) at a price of A$0.057 per

Security to Australian and international institutional and sophisticated investors pursuant

to Tranche 2 of the private placement announced by the Company on 22 May 2020

(“Private Placement”).

Tranche 2 of the Private Placement raised proceeds of circa US$ 3.8 million (before

costs).

A Notice of Meeting to approve Tranche 2 of the Pr ivate Placement was sent to

shareholders on 9 June 2020. Shareholders approved Tranche 2 at the Annual General

Meeting on 7 July 2020 (“AGM”).

Hartleys Limited, together with INTE Securities LLC, acted as Joint Lead Managers to

the Private Placement. After receiving shareholder approval at the AGM, 6,806,612

unlisted advisor options have also been issued today to the US Placement Agent,

exercisable at A$0.057 per Security and expiring on 15 July 2025.

ABOUT RTG MINING INC

RTG Mining Inc. is a mining a nd 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 company.

RTG also has a number of exciting new opportunities 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 responsible for the development of the Masbate

Gold Mine in the Philippines through CG A 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: 15 July 2020

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 statem ents 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, t he 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 Pan guna 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 regulat ory 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 operati ng 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 to develop

RTG’s mineral projects; the possi bility 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, 2019 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 events as of

the date on which the statements ar e 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.