Press Release Source: RPT Resources Ltd. On Wednesday January 27, 2010, 8:00 am
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 27, 2010) - RPT Resources Ltd. (TSX VENTURE:RPT - News; "RPT") announces that reconnaissance prospecting and traversing recently completed by Rio Tinto Exploration Canada Inc. ("RTEC") (formerly Kennecott Canada Exploration Inc.) on RPT's Dorion Block identified magnetic features that may represent mafic-ultramafic intrusions. A drill rig and geologists have mobilized onto the property and drill testing has begun.
On August 9, 2009, RPT signed a joint venture proposal with RTEC, whereby RTEC acquired the right to earn-in up to an 80% interest in RPT's 100%-owned Dorion Block by incurring a total of $10.2 million in expenditures and issuing staged payments totaling $350,000 on or before December 31, 2016.
Marshall R. Bertram, CFO and Director
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