Rathdowney Announces New Closing Date for Private Placement

VANCOUVER, BC, June 11, 2020 /CNW/ - Rathdowney Resources Ltd. ("Rathdowney" or the "Company") (TSXV: RTH) announces further to its news release of April 21, 2020 regarding plans to complete a private placement, that the TSX Venture Exchange has granted the Company a 30-day extension to close the financing.  The closing date will now be July 5, 2020.

Chairman David J. Copeland said "The Company has announced two tranches of the financing (see news release dated May 1, 2020 and May 26, 2020), and there continues to be interest from a number of mining investment and operating groups that are undertaking additional due diligence."

Rathdowney Resources Ltd. is focused on advancing Project Olza through permitting and into production. Project Olza is located in the Upper Silesian Mining District of southwestern Poland, a world-class region in size of Mississippi Valley-type deposits with well-developed mining infrastructure.  For further information on Rathdowney and Project Olza, please visit www.rathdowneyresources.com.

On behalf of the Board of Directors

David J. Copeland, P.Eng. 
Chairman  

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Assumptions used by the Company to develop forward-looking statements include the following: the Olza project will obtain all required environmental and other permits and all land use and other licenses, studies and development of the Olza project will continue to be positive, and no geological or technical problems will occur. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, potential environmental issues and liabilities associated with exploration, development and mining activities, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, continued availability of capital and financing, and general economic, market or business conditions, as well as risks relating to the uncertainties with respect to the effects of COVID-19. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

SOURCE Rathdowney Resources Ltd.

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