Mr. William Elston reports

RT MINERALS CONFIRMS EXTENSION OF SURFACE NICKEL, COBALT, CHROMITE, PT AND PD MINERALIZATION IN THE ULTRAMAFIC LAYERED INTRUSION ON THE NORDICA PROPERTY, ONTARIO, AND TERMINATES OPTION ON LINK CATHERINE RLDZ GOLD PROPERTY, ONTARIO

RT Minerals Corp. has released results from the second group of surface samples from the Nordica property carried out in the summer of 2023. The Nordica property is located approximately 40 kilometres west of Kirkland Lake and about 60 km southeast of Timmins, Ont.

Current assay results are from two samples from a second location of mineralized outcrop located about five metres from the first reported Cr (chromium), Ni (nickel), Co (cobalt), Cu (copper), Pt (platinum) and Pd (palladium) discovery outcrop announced Aug. 3, 2023. These first and second sample locations are situated approximately 2.7 km to the northwest of the historic discovery of similar mineralization on the property.

The two most recent samples from this second outcrop discovery are samples 63463 and 63466. Massive to semi-massive layered mineralized outcrop was sampled and assayed. Sample 63463 (massive chromite) returned 566 parts per million (ppm) Ni, 12.03 per cent Cr, 618 ppm vanadium (V) and 0.15 gram per tonne (g/t) Pd. Sample 63466 (semi-massive chromite) returned 679 ppm Ni, 6.47 per cent Cr, 350 ppm V and 108 ppm Co.

This second outcrop of mineralized ultramafic intrusive is additional evidence that ultramafic layered intrusive bedrock exists outside the immediate 400 m by 400 m area of the historic discovery outcrop, trenching and diamond drill holes situated 2.7 km to the southeast. This currently sampled section of exposed Cr, Ni, Co, Cu, V, Pt and Pd mineralized outcrop is at least five m thick and appears to widen to the north.

The outcrops are aligned with magnetics that strongly suggest that the entire Nordica intrusion could extend to a total of five km of strike length. In addition, the outcrops are evidence that the intrusion is located farther westward within an area previously mapped as metavolcanics and, as such, significantly increases the inferred potential size of the Nordica intrusive complex.

The current inferred size of the Nordica intrusion (excluding magnetic signatures) is approximately 250 m wide (drill holes 98-01, 98-02 and outcrop), approximately 2.7 km long (drill hole 98-01 to the Sylvia Creek outcrop) and approximately 240 m deep (drill hole 98-01 and 98-02).

The company has developed a plan of follow up exploration within this new high-priority target area, including additional surface exploration to locate additional ultramafic assemblages followed by diamond drilling. Diamond drilling will be collared to intercept the additional ultramafic assemblages within the layered Nordica intrusive (pyroxenite, peridotite and gabbro) that carry Ni, Cu, Pt, Pd, Cr and Co mineralization. Drill permits are in place and further exploration on Nordica is subject to financing.

Quality controls, sampling and assaying

Both of the three-kilogram chip samples from outcrop detailed herein were assayed using total digestion ICP-OES (inductively coupled plasma optical emission spectrometry) and fusion XRF (X-ray fluorescence). Assaying was managed and carried out by Activation Laboratories Ltd., Timmins, Ont., and Swaslabs Ltd., Kirkland Lake, Ont.; both are ISO/IEC 17025 accredited assay labs. The current assay results detailed herein are from RT's initial field sampling program. The assays contained herein may not be indicative of all rock types. Additional sampling is required to determine the significance and extent of these results.

Option terminated, Link Catherine RLDZ gold property, Ontario

RT Minerals has abandoned its option to earn 100 per cent of the Link-Catherine RLDZ gold property (LCGP) located approximately 22 km south-southeast of Kirkland Lake, Ont.

The company had early exploration success on the LCGP throughout 2020 and early 2021, but was unable to demonstrate grade and continuity of mineralization in follow-up drilling of the specific zones targeted by the company in the 2021 to 2022 field season and property assessment review.

In addition, with the weakening of the senior and junior gold sector, the required continued contractual RT Minerals work and property payments for LCGP no longer meets RT's risk to reward ratio, or RT Minerals' view of the reasonable current fair market value for a property at this stage of exploration.

Accordingly, the company will write off exploration and evaluation assets relating to the LCGP for the year ending Nov. 30, 2023.

RT Minerals continues to hold 11 rare earth, critical mineral base metal and gold properties/projects, aggregating over 9,000 hectares of prospective exploration ground within a 150 km radius of Timmins, Ont. All of these properties/project areas are staked claims (MLAS, Ontario), with eight of the properties royalty free, and all of these claims are 100 per cent owned by RT Minerals.

Qualified person

The technical information contained in this news release has been reviewed and approved by Garry Clark, PGeo, a qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About RT Minerals Corp.

RT Minerals is a junior exploration company listed on the TSX Venture Exchange under the symbol RTM. The company holds a 100-per-cent interest, largely royalty free, in a portfolio of rare earth element, gold and base metal properties in Ontario, Canada.

The Nordica property (Cu, Ni, Co, Cr and Pd) is 100 per cent owned by the company and is composed of 34 claims in Nordica township that cover the ultramafic layered Nordica intrusive complex in the Abitibi greenstone belt, within the Superior province, 60 km southeast of Timmins, Ont. Nordica is prospective for copper, nickel, cobalt, chromium and palladium mineralization. Previous exploration activity on the Nordica property has encountered Cu grading up to 0.292 per cent (rock grab samples), Ni up to 0.24 per cent in drill core over one m, Co up to 614 ppm (outcrop), Cr up to 17.7 per cent (grab rock sample) and Pd up to 1.2 parts per billion (outcrop chip and drill core over 31 m) (MNDM file OFR 6102). There is a 2.5-per-cent NSR (net smelter return) on all RT Minerals Nordica claims.

The Kenogaming, Pharand I and Pharand II properties (Ni, Cr and Co) consist of 38 claim blocks that are 100 per cent owned with 32 claims royalty free and six claims subject to a 2-per-cent net smelter return royalty. The properties are situated in Kenogaming and Pharand townships in the northern Swayze greenstone belt, located within the Abitibi subprovince of the Superior province, southwest of Timmins, Ont. The properties are located within the Hanrahan assemblage, which is confined to the southeastern part of the northern Swayze greenstone belt. Cumulate ultramafic bodies are the specific targets comprising the Kenogaming, Pharand I and Pharand II prospects. In 1979, previous operators tested a strong magnetic anomaly with a 184.5-metre-long diamond drill hole, which intersected up to 0.25 per cent nickel in carbonated and serpentinized cumulate ultramafic with interbeds of chlorite and talc alteration over a three-metre section at the bottom of the hole.

The Ireland property (rare earth element) is a royalty-free 52-claim block covering an inferred carbonatite complex (the Ireland complex) located in Ireland township, 45 km northeast of Smooth Rock Falls, Ont. The Ireland complex is 100 per cent owned by RT Minerals, is approximately 4.0 km long, 2.8 km wide and oval shaped, and is positioned along a southern extensional splay fault contained within the Kapuskasing structural trend. The Kapuskasing structural trend contains several well-documented carbonatite complexes that contain niobium, iron, titanium and rare earth element resources within various assemblages of carbonatite rocks.

Case batholith group 1 and new 190-claim staking (rare earth element) consist of 190 claims covering the Case batholith centred on the Heighington township, 85 km northeast of Cochrane, Ont. The Case batholith properties are 100 per cent owned and royalty free. The properties occur within the boundaries of the Case batholith and are specifically located in the Heighington, Kenning, Sequin and Case townships. Five properties are situated 12 km north of the Power Metals Case Lake lithium/cesium discovery in the Steel township. The 190 newly staked claims adjoin Power Metals and Beyond Lithium landholdings located in the southeastern portion of the Case batholith.

Case batholith group 2 (rare earth element) consists of four properties (113 claim blocks) that are 100 per cent owned, and certain of the claims are subject to a 2-per-cent NSR royalty, within the boundaries of the Case batholith in Northern Ontario. The four properties are in the Agassiz township (29 claims), the Potter township (51 claims), the Seguin/Challies township (14 claims) and the Bragg township (19 claims), Ontario. Substantially all the claim blocks have been acquired based on magnetic signatures resembling east-west-trending pegmatitic dikes and laccolith structures contained within the tonalite/granodiorite rock assemblages of the Case batholith.

Sheba-Michie-Alma (Cu, Ni, Co, Cr and Pt) consists of 194 mineral claims within the northwest-southeast-trending Michie, Sheba and Alma township corridor in the Abitibi greenstone belt, located within the Superior province, 70 km southeast of Timmins, Ont. The Sheba property is 100 per cent owned and royalty free. The Sheba property is prospective for Cu, Ni, Co, Cr, Pt and Pd mineralization (MNDM file 42A02SE2019). Previous limited surface sampling activities have encountered 0.19 per cent Cu, 0.14 per cent Ni and 0.34 per cent Cr immediately west of the Sheba South block in ultramafic pyroxenite-peridotite assemblages.

The Kendrey property (rare earth element) consists of 32 claims in the Kendrey and Colquhoun townships located 14 km southeast of Smooth Rock Falls, Ont., that are 100 per cent owned and royalty free. The property covers what appears to be a large, inferred carbonatite complex that is prospective for rare earth elements, primarily niobium. The intrusive is approximately 2.8 km wide and 2.7 km long. It is positioned along a southeastern extensional splay fault belonging to the Kapuskasing structural trend.

The Galna/Moody property (Cu, Ni, Co and Cr) consists of four separate claim blocks totalling 24 cells in the Galna and Moody townships, located 35 km east of Iroquois Falls, Ont. The company acquired a 100-per-cent interest in the property by map staking.

The Timmins property (base metals) is a royalty-free 16-claim block located approximately 50 km southeast of Timmins, Ont., and is 100 per cent owned by RT Minerals. The property features several mineralized fault systems that suggest proximity to a base metal source.

The Milligan property (gold) is a royalty-free 16-claim block located approximately 75 km northeast of Timmins, Ont., and is 100 per cent owned by RT Minerals. The Milligan property (gold) covers the southeast extension of the volcanic stratigraphy hosting the Eastford Lake gold discovery of 142.2 g/t Au over 3.0 m announced by Explor Resources in 2009.

The Blakelock property (gold) is a royalty-free nine-claim block located approximately 75 km northeast of Cochrane, Ont., and is 100 per cent owned by RT Minerals. The property is host to a massive east-west-trending magnetic-high intrusive complex that was subject to limited drilling in 1967.

The Mcquibban property (gold) is a royalty-free 19-claim block located approximately 50 km north of Cochrane, Ont., and is 100 per cent owned by RT Minerals. The property hosts a strong three-kilometre-long east-west-trending inferred oxide facies banded iron formation, in which one historical drill hole encountered a gold mineralized interval of 5.47 g/t Au over 1.2 m.

We seek Safe Harbor.