RT Minerals Corp. Update on Mahdia Guyana Gold Property, South America
May 22 2014 - 3:11PM
Marketwired
RT Minerals Corp. Update on Mahdia Guyana Gold Property, South
America
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 22, 2014) - RT
Minerals Corp. ("RTM" / the "Company") (TSX-VENTURE:RTM) announces
that further to the news release issued on May 14, 2014, the
Company has mobilized on the Phase One surface alluvial (saprolite)
exploration program of the Mahdia Guyana gold property in Guyana,
South America. The program will consist of mapping, test pits,
panning gravels and grab samples from each pit for assaying at an
accredited laboratory in Georgetown, Guyana. This program is
estimated to cost $100,000 USD and will be completed within 60
days.
Contingent on the positive results from Phase One, the Company
will carry out a Phase Two program consisting of bulk sampling, by
excavator, of saprolite material and the processing of same through
a wash plant. The budget for the Phase II program, including the
purchase and commissioning of the Wash Plant, is estimated at
$300,000 USD.
The Company also announces the appointment of Mr. Michael
O'Brien as Vice President of Corporate Development. Mr. O'Brien has
over 30 years of sales, marketing, business development and
communications experience in the Mining and Telecommunications
industries. He was the Director of Corporate Communications and
Investor Relations for Carpathian Gold and Sage Gold for eight
years and instrumental in raising significant capital for large
international mining projects. Mr. O'Brien will be performing
investor relations activities for the Company and as compensation,
the Company has agreed to pay Mr. O'Brien $2,000 per month for a
minimum three month term and grant him 200,000 stock options
exercisable at $0.10 per share over a two year term that are
subject to a 12 month vesting period.
The Company previously announced the appointment of Mr. Roy
Mlakar as Vice President and Director on May 14, 2014. Mr. Mlakar
will be performing investor relations activities for the Company
and as compensation, the Company has agreed to pay Mr. Mlakar
$5,000 USD per month for a minimum three month term and $25,000 USD
upon signing of his consulting agreement.
The Company has allocated a further 1,150,000 stock options to
directors and employees of the Company and 350,000 stock options to
consultants of the Company, exercisable at $0.10 per share over a
two year term.
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
RT Minerals Corp.Paul AntoniazziPresident and Chief Executive
Officer(604) 681-3170(604)
681-3552info@rtmcorp.comwww.rtmcorp.com
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