Welcome to RT Minerals Corp.
RT MINERALS CORP. AND LAKESHORE GOLD CORP. TRANSACTIONS
RT Minerals Corp. (TSX.V: RTM) is a junior exploration company engaged in the business of exploring for and developing mineral properties, and is focused on the exploration of its 50% Meunier Option & Joint Venture ("JV") Property near Timmins, Ontario, as well as RTM's 100% owned Bazooka Gold Project and McWatters Gold Property, both located just south of Noranda, Quebec.
On December 30, 2009, RT Minerals Corp. (the "Company") announced a private placement and strategic alliance agreement with Lake Shore Gold Corp. (TSX: LSG) which originally involved the Golden Property in the West Timmins area, Ontario, and which resulted in LSG acquiring approximately 35% of RT Minerals Corp.
As at December 31, 2010, the Company sold its Golden Property in Timmins and has optioned up to 50% of RTM's interest in the Meunier JV Property in Timmins to LSG. As part of this transaction, the Company also issued to LSG 10,000,000 RTM shares and LSG sold its 100% interest in the Bazooka Gold Property and McWatters Gold Property, Quebec, to RTM. LSG now controls about 27% of RTM's common shares.
FINANCINGS
As at December 31, 2010, the Company closed private placements of 4,607,000 units at $0.16 per unit, 9,390,000 flow-through units at $0.20 per unit and 4,968,750 structured flow-through units at $0.28 per unit for aggregate proceeds of approximately $4,000,000.
TSX - Venture Listing
On August 5, 2011 the Company commenced trading on the TSX Venture Exchange under the symbol "RTM".
PROPERTIES
The Meunier JV Property (Click to see Meunier JV Property) is under an option agreement whereby RTM may acquire up to a 50% interest and LSG, in turn, may earn half of this interest from RTM. The property is contiguous to the Timmins Mine and Rusk Zone properties owned by LSG in the West Timmins gold camp, Ontario.
The Bazooka and McWatters Properties (Click to see Bazooka and McWatters) are 100% owned by RTM and are situated on the Cadillac Larder Lake Break approximately 7 to 9 km south, respectively, of Noranda, Quebec. The Bazooka property has known gold mineralization from past drilling of over 316 gpt Au over 1m within an approximate 50m wide alteration zone. A drilling program commenced on Bazooka in late February 2011.