Subiaco, Western Australia (FSCwire) - The Board of RTG Mining Inc. (“RTG”, “the Company”) (TSX Code: RTG, ASX Code: RTG) refer to the recent announcement of Kalia Limited (“Kalia”) dated 16 November 2017 (“Kalia Legal Announcement”).  This announcement seeks to clarify any confusion created by the Kalia Legal Announcement and the actions Central Exploration Pty Ltd (“Central”) has taken to protect its interests at the old Panguna Mine in Bougainville.

 

RTG was named as a party in the actions against Mr Nik Zuks, Mr David Johnston, Kalia and Kalia Holdings Pty Ltd (“Kalia Holdings”) (now a subsidiary of Kalia) for alleged breaches of comprehensive non compete and confidentiality clauses in a Separation Agreement signed in December 2016 by both Mr Zuks and Mr David Johnston on behalf Kalia Holdings, covering their connected persons and colleagues they may assist. The Separation Agreement provided that post signing, Kalia Holdings (a subsidiary of Kalia) would focus on their interests in the North of Bougainville and Central would focus on the old Panguna Mine in Central Bougainville and neither party would compete with the other in terms of those interests and each would respect strict confidentiality undertakings.

 

Each of those parties have been served with detailed papers setting out the issues at hand and both Mr Zuks and Mr Johnston provided in open Court, comprehensive undertakings that they would now refrain from being involved or otherwise directly or indirectly concerned with any business that competes with or involves the interests of Central at Panguna or take any action that would be reasonably regarded to cause detriment to RTG or Central to interfere with the interests at Panguna. 

 

RTG is satisfied with the undertakings now provided by the abovementioned parties and trust that all relevant parties will respect their legal commitments and obligations under the Separation Agreement.

 

ABOUT RTG MINING INC

 

RTG Mining Inc. is a mining and exploration company listed on the main board of the Toronto Stock Exchange and Australian Securities Exchange Limited.  RTG is focused on a proposal with a landowner lead consortium to secure an exploration licence at the high tonnage copper-gold Panguna Project in Bougainville PNG and the high grade copper/gold/magnetite Mabilo Project in the Philippines, while also identifying major new projects which will allow the Company to move quickly and safely to production.

 

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 CGA Mining Limited, and has B2Gold as one of its major shareholders in the Company. B2Gold is a member of both the S&P/TSX Global Gold and Global Mining Indices.

 

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:                 jmagee@rtgmining.com                     jwells@rtgmining.com

 

CAUTIONARY NOTE STATEMENT

 

This announcement includes certain “forward-looking statements” within the meaning of Canadian and applicable securities legislation. Statement regarding interpretation of exploration results, plans for further exploration and accuracy of mineral resource and mineral reserve estimates and related assumptions and inherent operating risks, are forward-looking statements. 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 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 to 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 disclosed under the heading “Risk Factors” in RTG’s Annual Information Form for the year ended 31 December 2016 filed with the Canadian securities regulatory authorities on the SEDAR website at sedar.com. The forward‐looking statements made in this announcement relate only to events 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.

To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/rtg11172017.pdf

Source: RTG Mining Inc. (TSX:RTG)

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