Subiaco, Western Australia (FSCwire) - The Board of RTG Mining Inc. (“RTG”, “the Company”) (TSX Code: RTG, ASX Code: RTG) refers to the recent press release dated 13 December 2017 by Bougainville Copper Limited (“BCL”) which RTG considers to be misleading. 

 

The BCL press release requiring clarification can be found here:

http://www.bcl.com.pg/unscrupulous-campaign-bcl-exposed/

 

In an effort to correct the false market announcement by BCL, RTG makes the following points:

 

• The previous dispute with respect to the challenge to the leadership has been resolved between Mr Miriori and Mr Daveona. Mr Daveona has acknowledged that Mr Miriori has been the Chairman of the Special Mining Lease Osikaiyang Landowners Association Inc. (“SMLOLA”) since December 2015 and remains the Chairman.

 

• Mr Miriori and the SMLOLA were the plaintiffs having brought the matter to the PNG National Court to resolve the issue and have the right to discontinue the proceeding. Following the settlement, we confirm that discontinuance papers have been filed with the National Court, bringing the matter to an end.

 

• At the Warden’s Hearing, the Chief Mining Warden and a number of supporters of BCL referred to and acknowledged Mr Miriori as the Chairman of the SMLOLA.
   
• RTG is the nominated development partner in the joint venture agreement establishing Central Me’ekamui Exploration Ltd, who has applied for an exploration licence over the old Panguna Mine and remains the only applicant with the support of the SMLOLA.

 

Many members of the SMLOLA oppose the return of BCL due to the environmental and social impact of BCL's previous operation at Panguna, and the fact that BCL has not paid compensation for those matters, which most members believe is owing.  These factors obviously all predate, by decades, RTG's investment in the Landowner led consortium.

 

 

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/rtgmining12142017.pdf

Source: RTG Mining Inc. (TSX:RTG)

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