RTM:CC - RT Minerals Corp. Sells Norwalk Gold Property to Kingsview Minerals
(TheNewswire)
Vancouver, B.C. – September 13,2022 – RT Minerals Corp. (TSXV:RTM) (OTC:RTMFF) (the “Company” or “RTM”) announces that it hasentered into a purchase and sale agreement dated September 12, 2022(the “Agreement”) to sell its 100% interest in the Norwalk goldproperty (the “Property”) located near Wawa, Ontario to KingsviewMinerals Ltd. (“Kingsview”) for consideration of $50,000 and1,800,000 common shares of Kingsview (the “Transaction”).
The Transaction is subject to the approval of the TSXVenture Exchange (“TSXV”) and the Canadian Securities Exchange(“CSE”). Should the Transaction not receive TSXV approval byNovember 30, 2022, then the Company shall sell 49% interest in theProperty to Kingsview for consideration of $25,000 and 800,000 commonshares of Kingsview, and the parties shall form a joint venture forexploration of the Property.
All securities issued will be subject to a statutoryhold period expiring four months and one day after closing of theTransaction.
“The sale of Norwalk allows RTM to pursue otheropportunities in the gold and battery metals space along withmaintaining a significant equity investment in continued explorationwithin the Wawa gold corridor,” stated Doug Andrews, B.Sc. M.ScGeologist, Chief Executive Officer and Director of RT Minerals.
About the Norwalk Project
The Norwalk gold property is located approximately 6kilometres south of Wawa, Ontario. It is comprised of 12 single cellclaims and 21 boundary cell claims, covering an area of 460 hectaresand is subject to a 2% net smelter return royalty retained by theoriginal property vendors. The eastern portion of the Propertycontains 60+ untested near surface geophysical anomalies. An NI 43-101Technical Report on the Norwalk property dated July 15, 2020 can befound on www.sedar.com .
About RT Minerals Corp.
RT Minerals Corp. is a junior exploration companylisted on the TSX Venture Exchange under the symbol “RTM” and has59,794,654 common shares issued and outstanding. The Company holds anoption to acquire a 100% interest in the Link-Catharine RLDZ goldproperty comprised of fifteen unpatented single cell mining claimswith a total area of 220 hectares in one claim block. TheLink-Catharine property is located twenty-two kilometressouth-southeast of the town of Kirkland Lake, Ontario.
For more information on the Company and its properties,please visit the Company’s website at www.rtmcorp.com .
About Kingsview Minerals Ltd.
Kingsview is a mineral exploration company listed onthe Canadian Securities Exchange under the symbol “KVM”. Thecompany is focused on its gold exploration properties, including theflagship Echum Project, located in the active Wawa Gold Corridor inOntario, Canada. The company's properties are surrounded by advancedinfrastructure in a well-developed mining district. Kingsview willdraw on its strong technical team with significant exploration successto advance its properties.
FOR FURTHER INFORMATIONCONTACT:
Douglas J. Andrews, B.Sc., M.Sc.
President and Chief Executive Officer
Telephone: 403-200-6542
RT Minerals Corp.
Telephone: 604-681-3170 Fax:604-681-3552
Neither the TSX Venture Exchange norits Regulation Service Provider (as the term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy of accuracy of this news release.
Forward-Looking Statements
This news release contains certainforward-looking statements, which relate to future events or futureperformance (including, but not limited to, the anticipated approvalsof the Transaction by the TSXV and the CSE and the closing of theTransaction) and reflect management’s current expectations andassumptions. Such forward-looking statements reflect management’scurrent beliefs and are based on assumptions made by and informationcurrently available to the Company. Readers are cautioned that theseforward-looking statements are neither promises nor guarantees, andare subject to risks and uncertainties that may cause future resultsto differ materially from those expected including, but not limitedto, market conditions, availability of financing, actual results ofthe Company’s exploration and other activities, environmental risks,future metal prices, operating risks, accidents, labor issues, delaysin obtaining governmental approvals and permits, and other risks inthe mining industry. All the forward-looking statements made in thisnews release are qualified by these cautionary statements and those inour continuous disclosure filings available on SEDAR at www.sedar.com.These forward-looking statements are made as of the date hereof andthe Company does not assume any obligation to update or revise them toreflect new events or circumstances save as required by applicablelaw.
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