A$14m Raised in Private Placement Announcement to The Toronto Stock Exchange and Australian Stock Exchange 4 July 2023

Not for release to US wire services or distribution in the United States

HIGHLIGHTS

• Approximately A$14 million to be raised via institutional share placement
• Placement strongly supported by a number of leading institutional investors
• Placement strengthens RTG's balance sheet enabling the Company to advance the Mabilo Project towards start-up together with other business development opportunities

SUBIACO, WESTERN AUSTRALIA / ACCESSWIRE / July 4, 2023 / The Board of RTG Mining Inc. ("RTG", the "Company") (TSX Code:RTG, ASX Code:RTG) is pleased to announce that the Company has received commitments to raise approximately A$14 million (circa US$9 million) in a private placement to institutional and sophisticated investors ("Private Placement").

With the recent announcement of a prominent and successful new partner for the Mabilo Project in the Philippines the Private Placement received strong institutional support, demonstrating the considerable support for RTG's high grade copper/gold/magnetite Mabilo Project and the Company's other projects and opportunities.

The Private Placement will result in the issue of approximately 289.9 million Chess Depository Instruments ("Securities") to be listed on the ASX at an issue price of A$0.048 per Security ("Issue Price"), representing a 7.7% discount to RTG's last closing price on the ASX of A$0.052. The Company will also issue two (2) free attaching unlisted options for every three (3) Securities issued pursuant to the Placement (exercisable at 7.5c with a 12 month expiry from the date of issue) ("Attaching Options").

Net proceeds of the Private Placement will be used to continue to advance the Mabilo Project towards start-up, the first phase being a Direct Shipping Operation as well progress plans for additional exploration at the Mabilo Project, exploration plans at the Company's Chanach Copper and Gold Project in the Kyrgyz Republic, continue the pursuit of new potential business development opportunities, including the Panguna Project in the Autonomous Region of Bougainville, repayment of the US$0.5 million Corporate Loan Facility together with any interest and general working capital purposes.