Mr. Robert Eckford reports

RUA GOLD ANNOUNCED EFFECTIVE DATE OF CONSOLIDATION

Rua Gold Inc. will implement the consolidation of its common shares in the capital of the company on the basis of one postconsolidation share for every six preconsolidation shares effective as of Dec. 6, 2024.

The company's name will remain unchanged after the consolidation. The new Cusip number will be 78109M206 and the new ISIN (international securities identification number) will be CA78109M206 for the postconsolidation shares.

The total issued and outstanding number of shares postconsolidation will be approximately 53,659,307, subject to rounding for fractional shares.

No fractional shares will be issued in connection with the consolidation. In the event a holder of shares would otherwise be entitled to receive a fractional share in connection with the consolidation, the fractional share will be cancelled if it is less than one-half of a share and will be changed to one whole share if that fractional share is equal to or greater than one-half of a share.

The exercise or conversion price and the number of shares issuable under any of the company's outstanding convertible securities, if any, will be proportionately adjusted upon the effectiveness of the consolidation.

Registered shareholders who hold physical share certificates will receive a letter of transmittal requesting they forward preconsolidation share certificates to the company's transfer agent, Computershare Investor Services Inc., in exchange for new share certificates representing shares on a postconsolidation basis. Shareholders who hold their shares through a broker or other intermediary and do not have shares registered in their own names will not be required to complete a letter of transmittal.

About Rua Gold Inc.

Rua Gold is an exploration company, strategically focused on New Zealand. With decades of expertise, Rua Gold's team has successfully taken major discoveries into producing world-class mines across multiple continents. The team is now focused on maximizing the asset potential of Rua Gold's two highly prospective, high-grade gold projects.

The company controls the Reefton gold district as the dominant landholder in the Reefton goldfield on New Zealand's South Island with approximately 120,000 hectares of tenements, in a district that historically produced over two million ounces of gold grading between nine and 50 grams per tonne.

The company's Glamorgan project solidifies Rua Gold's position as a leading high-grade gold explorer on New Zealand's North Island. This highly prospective project is located within the North Island's Hauraki district, a region that has produced an impressive 15 million ounces of gold and 60 million ounces of silver. Glamorgan is within three kilometres of Oceanagold Corp.'s biggest gold mining project, WKP.