Mr. Justine Magee reports

MABILO STAGE 1 COST UPDATE

The board of RTG Mining Inc. has provided a cost update for stage 1 of the Mabilo project in the Philippines.

A review of the stage 1 budget conducted by the site team in February, 2024, has shown capital costs have not materially changed and remain below $25-million (U.S.), as quoted previously. The updated key components of capital costs for stage 1 are shown in an attached table.

Compared with the last cost review and budget in 2021, total operating costs have reduced slightly with increases in mining, crushing, product haulage and mine department fund costs being offset by reductions in shipping, supervision and Makati overhead costs. The main operating cost for stage 1 is detailed in an attached table.

Commentary

Commenting on these positive results, RTG's chief executive officer, Justine Magee, said, "The stage 1 financials remain very strong despite the pressures on costs we have seen in the industry over the last couple of years and reinforces our confidence in the project as we move into the development phase."

About RTG Mining Inc.

RTG Mining is a mining and exploration company listed on the main board of the Toronto Stock Exchange and the Australian Securities Exchange. RTG is currently focused primarily on progressing the Mabilo project to start-up, having now received a mining permit for the project, with a view to moving quickly and safely to a producing gold and copper company.

RTG also has a number of exciting new opportunities, including the Panguna project in Bougainville, which it remains committed to while also considering further new business development opportunities.

RTG has an experienced management team that 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 Ltd. RTG has some of the most respected international institutional investors as shareholders, including Franklin Templeton, Equinox Partners and Sun Valley.

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