Mr. William Elston reports

RT MINERALS CORP. ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT OF COMMON SHARES AND DIRECTOR APPOINTMENT

Further to RT Minerals Corp.'s news release of Jan. 19, 2024, the company has closed a non-brokered private placement of 9,999,999 common shares of the company at three cents per share for gross proceeds of $300,000.

All securities issued in connection with the offering are subject to a statutory hold period of four months plus a day in accordance with applicable securities legislation ending on June 21, 2024.

No finders' fees were paid in connection with this private placement. No insiders of the company participated in the offering.

Use of proceeds

The company intends to use approximately $89,442 to pay its current accounts payable and accrued liabilities to arm's-length contractors and service providers including transfer agent, legal, miscellaneous administrative costs, field reconnaissance and drilling costs.

Within the subsequent six months from the closing of the offering, the company intends to make the following payments to arm's-length parties and vendors:

• Up to $12,000 for field contractors and related report;
• Up to $4,200 for mineral claim payments to the Province of Ontario;
• $1,493 in interest expenses and bank charges;
• $2,009 corporate consulting and expenses;
• $34,000 to the company's auditor for 2023 audited financial statements and tax consultant;
• $6,000 in legal fees;
• $6,300 in transfer agent, overhead office expenses, telephone and website;
• Up to $30,000 allocated for future public relations promotions and IR (investor relations), subject to TSX Venture Exchange filings and acceptance, if as and when such providers are identified by the company;
• $8,000 for an annual general meeting of shareholders;
• $9,000 for TSX-V annual sustaining fees and filing fees for the offering and sundry matters.

Within the subsequent six months from closing, the company shall make the following payments to non-arm's-length parties:

• $500 per month to one director for a six month total of up to $3,500;
• Monthly fees to senior officers of the company for up to a total of $17,500;
• CFO (chief financial officer), accounting services and office expense of up to a total of $23,300.

The proceeds' balance of $59,163 is anticipated to be allocated toward the company's unallocated operating capital.

Appointment of director and interim CFO

The company would also like to announce the appointment of Ryan Torres to the board of directors following the resignation of Mark Lofthouse. Mr. Torres will also be appointed as interim CFO replacing Matthew Anderson as CFO.

Mr. Torres has over 20 years of sales experience focused on mid to conglomerate level companies. With a proven record of success in various high-level sales positions in Canada, Mr. Torres brings a wealth of experience and expertise to his role as director. With a keen understanding of market dynamics and a passion for building high-performing teams, Mr. Torres is eager to take on the role. His strong commitment to customer-based satisfaction and his ability to navigate complex business transaction make him a valuable asset to the organization's future. Through his sales, branding and strategic planning experience in the technology, telecommunications, manufacturing and automotive industries, he has gained a broad network of key contacts to accelerate the company's opportunities.

The company would like to thank Mr. Lofthouse and Mr. Anderson for their time with the company and wishes them well in their future endeavours.

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 12 rare-earth element, gold and base metal properties in Ontario, Canada. The most prominent properties are as displayed herein.

The Nordica property (Cu, Ni, Co, Cr, Pt, Pd, V, Se -- copper, nickel, cobalt, chromium, platinum, palladium, vanadium and selenium) is 100 per cent owned by RT Minerals. It comprises 34 claims in Nordica township that cover the ultramafic layered Nordica intrusive complex in the Abitibi greenstone belt, within the Superior province, 60 kilometres southeast of Timmins, Ont. Nordica is prospective for copper, nickel, cobalt, chromium, platinum, palladium, vanadium and selenium 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 1.0 m, Co up to 614 parts per million (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 31.0 m) (MNDM files OFR 6102). There is a 2.5-per-cent NSR (net smelter return) on all RT Minerals Nordica claims.

Case batholith group 1 and 190 claim staking (rare-earth element) consists of 90 claims covering the Case batholith centred on 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 Heighington, Kenning, Sequin and Case townships. Five properties are situated 12 km north of the Power Metals Case Lake lithium/caesium discovery in 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 Agassiz township (29 claims), Potter township (51 claims), Seguin/Challies township (14 claims) and 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.

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 and is approximately 4.0 km long, 2.8 km wide, 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.

Kenogaming, Pharand I and Pharand II properties (Ni, Cr, Co) consists of 38 claim blocks that are 100 per cent owned with 32 claims royalty free and six claims subject to a 2-per-cent NSR 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 m 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 3.0 m section at the bottom of the hole.

We seek Safe Harbor.