RT Minerals Corp. Sells Norwalk Gold Property to Kingsview Minerals
Vancouver, B.C. – September 13, 2022 – RT Minerals Corp. (TSXV:RTM) (OTC:RTMFF) (the “Company” or “RTM”) announces that it has entered into a purchase and sale agreement dated September 12, 2022 (the “Agreement”) to sell its 100% interest in the Norwalk gold property (the “Property”) located near Wawa, Ontario to Kingsview Minerals Ltd. (“Kingsview”) for consideration of $50,000 and 1,800,000 common shares of Kingsview (the “Transaction”).
The Transaction is subject to the approval of the TSX Venture Exchange (“TSXV”) and the Canadian Securities Exchange (“CSE”). Should the Transaction not receive TSXV approval by November 30, 2022, then the Company shall sell 49% interest in the Property to Kingsview for consideration of $25,000 and 800,000 common shares of Kingsview, and the parties shall form a joint venture for exploration of the Property.
All securities issued will be subject to a statutory hold period expiring four months and one day after closing of the Transaction.
“The sale of Norwalk allows RTM to pursue other opportunities in the gold and battery metals space along with maintaining a significant equity investment in continued exploration within the Wawa gold corridor,” stated Doug Andrews, B.Sc. M.Sc Geologist, Chief Executive Officer and Director of RT Minerals.
About the Norwalk Project
The Norwalk gold property is located approximately 6 kilometres south of Wawa, Ontario. It is comprised of 12 single cell claims and 21 boundary cell claims, covering an area of 460 hectares and is subject to a 2% net smelter return royalty retained by the original property vendors. The eastern portion of the Property contains 60+ untested near surface geophysical anomalies. An NI 43-101 Technical Report on the Norwalk property dated July 15, 2020 can be found on www.sedar.com.
About RT Minerals Corp.
RT Minerals Corp. is a junior exploration company listed on the TSX Venture Exchange under the symbol “RTM” and has 59,794,654 common shares issued and outstanding. 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.
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 on the Canadian Securities Exchange under the symbol “KVM”. The company is focused on its gold exploration properties, including the flagship Echum Project, located in the active Wawa Gold Corridor in Ontario, Canada. The company's properties are surrounded by advanced infrastructure in a well-developed mining district. Kingsview will draw on its strong technical team with significant exploration success to advance its properties.
FOR FURTHER INFORMATION CONTACT:
Douglas J. Andrews, B.Sc., M.Sc.
President and Chief Executive Officer
RT Minerals Corp.
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.
This news release contains certain forward-looking statements, which relate to future events or future performance (including, but not limited to, the anticipated approvals of the Transaction by the TSXV and the CSE and the closing of the Transaction) 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.