RTM.V · 2024-02-21 12:00:00

Rt Minerals Corp . Announces Closing of Non-Brokered Private Placement of Common Shares and Director Appointment

Financings Management Changes

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RT MINERALS CORP . ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT OF COMMON

SHARES AND DIRECTOR APPOINTMENT

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES

OR FOR DISSEMINATION IN THE UNITED STATES

Vancouver, B.C. – February 21, 2024 – RT Minerals Corp. (TSXV: RTM) (OTC Pink: RTMFF) (the “Company”

or “RTM”) is pleased to announce, further to its news release of January 19, 2024, that the Company has

closed a non-brokered private placement of 9,999,999 common shares of the Company (the “Shares”) at

$0.03 per Share for gross proceeds of $300,000 (the “Oﬀering”).

All securiƟes issued in connecƟon with the Oﬀering are subject to a statutory hold period of four months

plus a day in accordance with applicable securiƟes legislaƟon ending on June 21, 2024.

No ﬁnders’ fees were paid in connec Ɵon with this Private Placement. No insiders of the Company

parƟcipated in the Oﬀering.

USE OF PROCEEDS

The Company intends to use approximately $89,442 to pay its current accounts payable and accrued

liabiliƟes to arms length contractors and service providers including transfer agent, legal, miscellaneous

administraƟve costs, ﬁeld reconnaissance and drilling costs.

Within the subsequent six months from the closing of the Offering, the Company intends to make the

following payments to arms’ length parties and vendors:

 up to $12,000 for field contractors and related report;

 up to $4,200 for mineral claim payments to the Province of Ontario;

 $1,493 in interest expenses and bank charges;

 $2,009 corporate consulting and expenses;

 $34,000 to the Company’s Auditors for 2023 Audited Financial Statements and tax consultant;

 $6,000 in legal fees;

 $6,300 in transfer agent, overhead office expenses, telephone and website;

 up to $30,000 allocated for future public relations promotions and IR, subject to TSXV filings and

acceptance, if as and when such providers are identified by the Company;

 $8,000 for an Annual General Meeting of Shareholders; and

 $9,000 for TSXV annual sustaining fees and filing fees for the Offering and sundry matters.

Within the subsequent six months from closing, the Company shall make the following payments to non-

arms’ length parties:

 $500 per month to one director for a six month total of up to $3,500;

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 monthly fees to senior officers of the Company for up to a total of $17,500; and

 CFO, accounting services, and office expense of up to a total of $23,300.

The proceeds’ balance of $59,163 is anticipated to be allocated towards the Company’s unallocated

operating capital.

The securiƟes issued pursuant to the Oﬀering have not, nor will they be registered under the United

States SecuriƟes Act of 1933, as amended, and may not be oﬀered or sold within the United States or to,

or for the account or beneﬁt of, U.S. persons in the absence of U.S. registra Ɵon or an applicable

exempƟon from the U.S. registraƟon requirements. This news release shall not consƟtute an oﬀer to sell

or the solicitaƟon of an oﬀer to buy nor shall there be any sale of the securiƟes in the United States or in

any other jurisdicƟon in which such oﬀer, solicitaƟon or sale would be unlawful.

Appointment of Director and Interim CFO

The Company would also like to announce the appointment of Ryan Torres to the board of directors

following the resignation of Mark Lofthouse. Mr. Torres will also be appointed as Interim CFO replacing

Matthew Anderson as CFO.

Mr. Torres has over 20 years of sales experience focused on mid to conglomerate level companies. With

a proven record of success in various high-level sales positions in Canada, Mr. Torres brings a wealth of

experience and expertise to his role as director. With a keen understanding of market dynamics and a

passion for building high-performing teams, Mr. Torres is eager to take on the role. His strong

commitment to customer-based satisfaction and his ability to navigate complex business transaction

make him a valuable asset to the organization's future. Through his sales, branding and strategic planning

experience in the technology, telecommunications, manufacturing and automotive industries, he has

gained a broad network of key contacts to accelerate the company's opportunities.

The Company would like to thank Mr. Lofthouse and Mr. Anderson for their time with the Company and

wishes them well in their future endeavours.

About RT Minerals Corp. RTM is a junior exploraƟon company listed on the TSX Venture Exchange under

the symbol “RTM”. The Company holds a 100% interest, largely royalty-free, in a porƞolio of 12 rare earth

element, gold and base metal properƟes in Ontario, Canada. The most prominent properƟes are:

Nordica Property (Cu, Ni, Co, Cr, Pt, Pd, V, Se) is 100% owned by RTM. It is comprised of 34 claims in

Nordica Township that cover the ultramaﬁc layered Nordica Intrusive Complex in the Abi Ɵbi Greenstone

Belt, within the Superior Province, 60 km southeast of Timmins, Ontario. Nordica is prospecƟve for copper,

nickel, cobalt, chromium, plaƟnum, palladium, Vanadium and Selenium mineralizaƟon. Previous

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exploraƟon ac Ɵvity on the Nordica property has encountered Cu grading up to 0.292% (rock -grab

samples), Ni up to 0.24% in drill core over 1.0 m, Co up to 614ppm (outcrop), Cr up to 17.7% (grab-rock

sample) and Pd up to 1.2ppb (outcrop chip and drill core over 3 1.0m)(MNDM ﬁles OFR 6102). There is a

2.5% NSR on all RTM Nordica claims.

Case Batholith Group 1 and 190 Claim Staking (Rare Earth Element) consists of 90 claims covering the

Case Batholith centered on Heighington Township, 85 km northeast of Cochrane, Ontario. The Case

Batholith properƟes are 100% owned and royalty free. The properƟes occur within the boundaries of the

Case Batholith and are speciﬁcally located in Heighington, Kenning, Sequin, and Case Townships. Five

properƟes are situated 12 km north of the Power Metals Case Lake lithium/cesium discovery in Steel

Township. The 190 newly staked claims adjoin Power Metals and Beyond Lithium land holdings located in

the southeastern porƟon of the Case Batholith.

Case Batholith Group 2 (Rare Earth Element) consists of four properƟes (113 claim blocks) that are 100%

owned and certain of the claims are subject to a 2% NSR royalty, within the boundaries of the Case

Batholith in northern Ontario. The four properƟes are in Agassiz township (29 claims), PoƩer township (51

claims), Seguin/Challies township (14 claims) and Bragg township (19 claims), Ontario. SubstanƟally all the

claim blocks have been acquired based on magneƟc signatures resembling east - west trending pegmaƟƟc

dykes and laccolith structures contained within the tonalite/granodiorite rock assemblages of the Case

Batholith.

Ireland Property (Rare Earth Element) is a royalty free 52 claim block covering an inferred carbona Ɵte

complex (the “Ireland Complex”) located in Ireland Township, 45 km northeast of Smooth Rock Falls,

Ontario. The Ireland Complex is 100% owned by RTM and is approximately 4.0 km long, 2.8 km wide, oval

shaped and is posi Ɵoned along a southern extensional splay fault contained within the Kapuskasing

Structural Trend. The Kapuskasing Structural Trend contains several well documented carbona Ɵte

complexes that contain Niobium, Iron, Titanium and Rare Earth Element resources within various

assemblages of carbonaƟte rocks.

Kenogaming, Pharand I and Pharand II Proper Ɵes (Ni, Cr, Co) consists of 38 claim blocks that are 100%

owned with 32 claims royalty free and 6 claims subject to a 2% NSR royalty. The properƟes are situated in

Kenogaming and Pharand Townships in the Northern Swayze Greenstone Belt, located within the A biƟbi

sub-province of the Superior Province, southwest of Timmins, Ontario. The ProperƟes are located within

the Hanrahan assemblage which is conﬁned to the southeastern part of the Northern Swayze Greenstone

Belt. Cumulate ultramaﬁc bodies are the speciﬁc targets comprising the Kenogaming, Pharand I and

Pharand II prospects. In 1979, previous operators tested a strong magne Ɵc anomaly with a 184.5m long

diamond drill hole, which intersected up to 0.25% ni ckel in carbonated and serpen Ɵnized cumulate

ultramaﬁc with interbeds of chlorite and talc alteraƟon over a 3.0m secƟon at the boƩom of the hole.

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For more informaƟon on the Company please visit the company’s website at www.rtmcorp.com.

On behalf of the Board and for further informaƟon contact:

Mr. William Elston, President, CEO, Director

RT Minerals Corp.

Telephone: (604) 725-0604

Neither the TSX Venture Exchange nor its RegulaƟon 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 and reﬂect management’s current expectaƟons and assumpƟons.

Such forward- looking statements reﬂect management’s current beliefs and are based on assump Ɵons

made by and informaƟon currently available to the Company. Readers are cauƟoned that these forward-

looking statements are neither promises nor guarantees, and are subject to risks and uncertain Ɵes that

may cause future results to diﬀer materially from those expected including, but not limited to, market

condiƟons, availability of ﬁnancing, actual results of the Company’s explora Ɵon and other ac ƟviƟes,

environmental risks, future metal prices, opera Ɵng 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 cau Ɵonary statements and those in our

conƟnuous 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 obligaƟon to update or revise them to

reﬂect new events or circumstances save as required by applicable law.

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