Rua Gold to Purchase Siren Gold’s Reefton Belongings and Turn out to be the Dominant Reefton Goldfield Explorer

• Recall that Pactolus is a brand new, floor Greenfields discovery made by RUA GOLD in 2021. Pactolus has returned assays for 3 of six holes drilled on the system, highlighting:
  • DD_PAC_035 intersecting 2 meters @ 5.13g/t Au
  • DD_PAC_036 intersecting 2 meters @ 3.61g/t Au .
• These outcomes praise the floor trenching throughout outcropping mineralization:
  • 5m @ 12.2 g/t Au (together with 1m @ 17.1 g/t Au) and
  • 4m @ 6.9 g/t Au (together with 1m @ 16.1 g/t Au).
• Additional work is required to mannequin the geometry of this zone to warrant extra drilling on this space. Because of this, the corporate expects to refocus on the past-producing areas in Reefton within the close to time period.

RUA GOLD’s forthcoming near-mine drilling program

RUA GOLD plans to start with 5 targets within the Murray Creek space as step one in a complete drilling marketing campaign that may check targets in Murray Creek, Crushington, Capleston and Caledonian historic districts. These historic mines collectively produced ~700 koz at 25.2 g/t inside a radius of ~20 kilometers. Three of the targets are highlighted:

Murray Creek Goal 1: Down-dip extension of mine shoot:

Information present mining stopped by faulting, proof of continuation at depth. Latest floor rock chips embody 56.2, 48.0, 33.3, g/t Au , together with some putting seen gold (Determine 3). Trenching of the lode on floor contains 3m @ 31.7 g/t Au incl. 2m @ 47.1 g/t Au .

Murray Creek Goal 2: Close to mine structural offset:

Focusing on potential offset of Inglewood Mine group to the east, rock chips embody 35.1, 34.5, and 27.8 g/t Au.

Murray Creek Goal 3: Down-dip extension of mine shoot :

Information present mining ceased at 200 meters, but this was the biggest deposit within the Inglewood group.

Robert Eckford , CEO commented: “We’re happy to see constant mineralization within the drilling from the Pactolus vein and see the potential for thrilling new alternatives creating from the historic mine drill targets within the forthcoming near-mine program. Our staff will proceed drilling RUA GOLD’s Reefton properties as our 2,500 meter drill program for 2024 rolls out.  With the distinctive geology of the Reefton challenge and the extremely skilled working staff on the bottom, I’m excited by the potential on this historic however under-explored excessive grade orogenic gold district”.

Extra info will be discovered on the Firm’s web site: www.ruagold.com .

Pactolus Abstract

The current 6-hole drill program (DD_PAC_035-040) has examined underneath the three trenches alongside the north-south pattern of system. Trenching outcomes over 4 outcrops at Pactolus illustrated in Determine 2 returned the next:

7m @ 13.75 g/t Au (together with 1m @ 34.6 g/t Au, 1m @32 g/t Au) *
5m @ 8.1 g/t Au (together with 1m @ 14.9 g/t Au)
5m @ 12.2 g/t Au (together with 1m @ 17.1 g/t Au)
4m @ 6.9 g/t Au (together with 1m @ 16.1 g/t Au)
*(Reported NI 43 101: Technical Report on the Reefton Challenge, New Zealand )

4 of the six drill holes intersected the focused mineralized construction. Preliminary assay outcomes for DD_PAC_35, 36, and 37 returned:

Desk 1: Important intercepts for 2024 drilling, calculated with a 1.5 ppm Au cut-off and as much as 2-m inner dilution.

DD_PAC_037 returned no vital intercepts.

Preliminary outcomes and observations verify the Pactolus system extends south for 550m and is effectively mineralized on floor, however figuring out the plunge and tenor of the ore shoots is proving difficult. An extra replace is anticipated when outcomes from the remaining drill holes are obtained in 4-6 weeks.

Desk 2: Important intercepts for Pactolus drilling, calculated with a 1.5 ppm Au cut-off and as much as 2-m inner dilution.

Overview of the Reefton Area

The Reefton Goldfields presents as a traditional orogenic model gold deposit, with historic mining recovering high-grade gold in plunging gold bearing quartz reefs. RUA GOLD’s systematic exploration has highlighted the potential for the rejuvenation of this district in renewed alternatives within the neighborhood of historic high-grade gold deposits.

Historic Mine Analysis, Proposed Drilling

RUA GOLD has accomplished a complete analysis of the historic mines on the Firm’s tenements within the Reefton Goldfield which produced ~700 koz at 25.2 g/t (see Appendix 2). 3D pc modelling of the geology, construction, and historic mine lodes, was accomplished as a precursor to drill testing of precedence targets. Possible targets embody testing down-dip and potential duplicate buildings within the neighborhood of the historic mines.

RUA GOLD plans to start with 5 targets within the Murray Creek space as follows.

Murray Creek Goal 1: Down-dip extension of mine shoot

Information present Inglewood mine stopped by faulting, proof of continuation at depth. Latest floor rock chips embody 56.2, 48.0, 33.3, 30.3, g/t Au, together with some putting seen gold (see insert). Soil samples are as much as 113 ppb Au. Trenching of the lode on floor contains:

MC_C03 3m @ 31.7 g/t Au (together with 2m @ 47.1g/t Au )
MC_C04 12m @ 6.4 g/t Au (together with 1m @ 63.9 g/t Au)

Murray Creek Goal 2: Close to mine structural offset

Focusing on potential offset of Inglewood Mine group to the east, illustrated in ultra-detail magnetic information, coinciding with Au-As soil anomaly and mapped quartz veins. Rock chips alongside the jog embody 35.1, 34.5, and 27.8 g/t Au from brecciated, extremely sulfidic quartz samples. Soil geochemistry (max 172ppb gold) envelopes gold anomalism over the goal space.
Trenching within the neighborhood of the structural offset included:

MCCRAE05 3m @ 1.7 g/t Au
MC_C06 2m @ 2.9 g/t Au

Murray Creek Goal 3: Down-dip extension of mine shoot

Information present mining ceased at 200m but this was the biggest lode within the Inglewood group. Historic information describe the ore straight related to a dolerite dyke. Correct mapping of the dyke (UAV magnetics) and 3D structural mapping present vital potential for continuation at depth.

Murray Creek Goal 4: 250m north extensions of historic workings

RUA GOLD’s mapping has delineated quartz and pug faulting alongside a syncline hinge that coincides with the north putting Perseverance historic workings. Rock samples returned 11-16.4 g/t Au, soil geochemical samples as much as 195ppb Au envelope a north trending zone paralleling the Ajax-Golden Fleece historic mines.

Ajax Goal 1: Potential jog/structural complexity

A jog within the magnetic and robust structural complexity present there could also be an offset between the Golden Fleece mine group and Venus, very outstanding soil gold geochemistry highlights floor expression of this goal.

Grant of Deferred Share Items

The Firm additionally pronounces that it has granted an mixture of 875,476 deferred share models (” DSUs “) to the administrators of the Firm at a deemed value of $0.175 per DSU.  The DSUs have been granted in consideration for companies supplied by the administrators for February 28 to March 31 , 2024.  The DSUs have been granted underneath the Firm’s Deferred Share Unit Plan adopted on April 17 , 2024.  Every DSU entitles the holder to obtain one share of the Firm on the time the holder ceases to be a director of the Firm.

About RUA GOLD

RUA GOLD (RUA.CSE) is a brand new entrant to the mining trade, specializing in gold exploration and discovery in New Zealand . With permits which have a wealthy historical past courting again to the gold rush within the late 1800’s, RUA GOLD combines conventional prospecting practices with trendy applied sciences to uncover and capitalize on beneficial gold deposits.

The Firm is dedicated to accountable and sustainable exploration, which is clear in its skilled planning and execution. The Firm goals to attenuate its environmental influence and to execute on its initiatives with key stakeholders in thoughts. RUA GOLD has a extremely expert staff of New Zealand professionals who possess in depth information and expertise in geology, geochemistry, and geophysical exploration know-how.

For additional info, please check with the Firm’s disclosure document on SEDAR+ at www.sedarplus.ca .

Technical Info

Simon Henderson CP, AUSIMM, a professional individual underneath Nationwide Instrument 43-101 Requirements of Disclosure for Mineral Initiatives, has reviewed and permitted the technical disclosure contained herein. Mr. Henderson has verified the information disclosed, together with sampling, analytical, and check information underlying the data within the technical disclosure herein.

QAQC Soil Samples

A bulk pattern of ~0.5–1 kg was collected within the subject and brought again to RGL’s workplace for preparation. Samples have been dried in a personalized incubator, set at 38°C, for no less than two days. As soon as the samples have been totally dried, they have been sieved to

A 50–100-g fine-sieved ( Brisbane for Au-TL43 evaluation. The evaluation consisted of 25-g pattern digestion by aqua regia, adopted by hint Au evaluation by ICP-MS. The detection restrict for Au by this technique is 1 ppb. Roughly 5% of the samples have been analyzed for a full multi-element suite utilizing a 4-acid digest and ICP-MS end.

ALS Brisbane is impartial to RUA GOLD .

QAQC Drilling

Nearly all of drillholes have been sampled in full, usually following 1-m pattern intervals except geological contacts (i.e. dolerite intrusions) dictated in any other case. NQ core was analyzed as complete core; due to this fact, solely requiring chopping alongside pattern intervals. PQ and HQ core have been sampled as half core.

Drill core samples have been despatched to SGS Westport for pattern preparation. Core was crushed to 75% passing 2 mm, and 1-kg break up of fabric was pulverized (to 85% passing 75 µm). No break up duplicates have been collected throughout the crushing steps. Two scoops have been taken from the pulverize bowl: one for laboratory evaluation (~150 g) and the opposite for pXRF evaluation (~100 g). The pulp reject is saved in Reefton.

Pulverized drill core samples have been analyzed by 50-g hearth assay with AAS end at SGS Waihi (SGS Code FAA505). The detection restrict for Au by this technique is 0.01 ppm. As a part of SGS’ inner high quality management, SGS carried out repeat analyses, additionally at a price of ~5%.

13 3-g samples have been additionally analyzed by display hearth assay (FAS30K) at SGS Waihi to ascertain the presence of nuggetty Au. Samples have been screened to 75 µm.

Web site: www.RUAGOLD.com

Cautionary Observe Concerning Ahead Trying Info

This information launch contains sure statements that could be deemed “forward-looking statements”. All statements on this new launch, apart from statements of historic details, that deal with occasions or developments that the Firm expects to happen, are forward-looking statements. Ahead-looking statements are statements that aren’t historic details and are usually, however not at all times, recognized by the phrases “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “initiatives”, “potential” and comparable expressions, or that occasions or situations “will”, “would”, “could”, “may” or “ought to” happen and particularly embody statements concerning: the Firm’s methods, expectations, deliberate operations or future actions, together with however not restricted to exploration packages at its Reefton and Glamorgan initiatives; and  the Firm’s anticipated receipt of permits or different regulatory approvals. Though the Firm believes the expectations expressed in such forward-looking statements are based mostly on affordable assumptions, such statements usually are not ensures of future efficiency and precise outcomes could differ materially from these within the forward-looking statements.

Buyers are cautioned that any such forward-looking statements usually are not ensures of future efficiency and precise outcomes or developments could differ materially from these projected within the forward-looking statements. A wide range of inherent dangers, uncertainties and elements, a lot of that are past the Firm’s management, have an effect on the operations, efficiency and outcomes of the Firm and its enterprise, and will trigger precise occasions or outcomes to vary materially from estimated or anticipated occasions or outcomes expressed or implied by ahead trying statements. A few of these dangers, uncertainties and elements embody: common enterprise, financial, aggressive, political and social uncertainties; dangers associated to the results of the Russia – Ukraine conflict; dangers associated to local weather change; operational dangers in exploration, delays or adjustments in plans with respect to exploration initiatives or capital expenditures; the precise outcomes of present exploration actions; conclusions of financial evaluations; adjustments in challenge parameters as plans proceed to be refined; adjustments in labour prices and different prices and bills or tools or processes to function as anticipated, accidents, labour disputes and different dangers of the mining trade, together with however not restricted to environmental hazards, flooding or unfavourable working situations and losses, riot or conflict, delays in acquiring governmental approvals or financing, and commodity costs. This record is just not exhaustive of the elements which will have an effect on any of the Firm’s forward-looking statements and reference must also be made to the Firm’s CSE Kind 2A – Itemizing Assertion filed underneath its SEDAR+ profile at www.sedarplus.ca for an outline of extra threat elements.

Ahead-looking statements are based mostly on the beliefs, estimates and opinions of the Firm’s administration on the date the statements are made. Besides as required by relevant securities legal guidelines, the Firm undertakes no obligation to replace these forward-looking statements within the occasion that administration’s beliefs, estimates or opinions, or different elements, ought to change.

Appendix 1: Full record of great intercepts from the Pactolus drilling program.

Desk 3: Important intercepts for Pactolus program, calculated with a 1.5 ppm Au cut-off and as much as 2-m inner dilution.

(As much as DD_PAC_025 reported in NI 43 101: Technical Report on the Reefton Challenge, New Zealand )

Appendix 2: Historic manufacturing from mining within the Reefton Goldfields.

Supply: Barry, J.M., 1993. The Historical past and Mineral Assets of the Reefton Goldfield.

Appendix 3: Areas and knowledge on drill holes and trenches at Pactolus.

Desk 5: Drill gap areas and gap particulars. Coordinates in NZTM2000; DD: Diamond drill gap, TR: Trench.

SOURCE Rua Gold Inc.

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