Mr. Robert Eckford reports

RUA GOLD INTERSECTS VISIBLE GOLD AND ANTIMONY AND CONFIRMS CONTINUITY OF HIGH-GRADE GOLD MINERALIZATION AT MURRAY CREEK

Rua Gold Inc. has provided an update from the drilling campaign under way at the Reefton project on the South Island of New Zealand.

Highlights:

• All three holes in Murray Creek have intercepted visible gold in downdip extensions of the historical Victoria lode, demonstrating vertical continuity over 100 metres (m) and still open;
• Murry Creek assays ranging from 11.1 to 34.1 grams per tonne (g/t) gold (Au); intercept widths indicate a pinch and swell of the vein from 0.2 to 1.2 m;
• 1.35 per cent Sb (stibnite) in DD-VIC-42A demonstrates the antimony potential in this region;
• Introduction of Devico navigational (navi) drilling provides benefits of accuracy and economy in the resource definition stage;
• Gold results in four of the six drill holes at Capleston, with the northernmost intercept averaging 4.8 g/t Au over 3.3 m.

Robert Eckford, chief executive officer of Rua Gold, commented: "it is very encouraging to be intercepting gold on the majority of our targets in the Reefton goldfield. Murray Creek has delivered vertical continuity and visible gold on every hole and even more exciting as we start seeing visible antimony on this target. The drill program is progressing nicely and with the navi drilling team in place and two main holes complete, we can start building structure with our 20 m spaced drill program. The near surface gold results at Capleston also indicate there is potential for early development opportunities."

Murray Creek

The company has advanced the testing of the downdip extension of the Victoria lode, DD-VIC-042B. This intersected the targeted gold vein at 390 m downhole with a 1m quartz vein followed by a 0.2 m mineralized fault, including fine visible gold throughout the vein and antimony infilling fractures. This intercept is 80 m below the historical Victoria mine and 20 m northeast of the DD-VIC-042A intercept.

The third drill hole (DD-VIC-042A) intercepted a 0.3 m quartz vein with visible gold in a 0.6 m mineralized fault. The quartz vein assayed 0.3 m at 27.2 g/t Au with 1.35 per cent Sb (antimony).

Rua Gold has commenced a series of directional drill holes with IMDEX Devico navigational drilling to progress the delineation of the unmined reef downdip and along strike.

Two parent holes have been established (DD-VIC-042 and DD-VIC-046) and there are six more directionally drilled holes planned in the first quarter 2025. This program will test approximately 200 m down strike of the historical Victoria mine lode, which produced 33,877 ounces (oz) at 19.9 g/t Au (Barry, 1993).

Capleston

The company is targeting an undeveloped and near-surface vein at the southern end of the two-kilometre-long historic Capleston project. Near-surface targets lend themselves to early development and are the closest to transportation and infrastructure, providing low-cost operational advantages.

The program consists of six drill holes, with the northernmost intercept averaging 4.8 g/t Au over 3.3 m.

The drill rig at Capleston has been demobilized as the exploration team shift its focus onto the Cumberland targeted as highlighted in the news release dated Jan. 13, 2024. Results from the drill program will be collated into the model and assessed for the next phase of drilling.

QA/QC (quality assurance/quality control) drilling

The majority of drill holes were sampled in full, typically following one m sample intervals unless geological contacts (dolerite intrusions) dictated otherwise. NQ core was analyzed as whole core, therefore only requiring cutting along sample intervals. PQ and HQ core were sampled as half core.

Coarse gold intersections (Victoria lode visible nuggety gold intervals) are sampled in full, dried and dispatched to ALS Perth, Australia, for photon assay analysis using method PA01 with a detection limit of 0.03 part per million (ppm) Au. Five-hundred-gram samples were submitted with certified reference material (CRM) following coarse crushing. This method is non-destructive allowing the preservation of the entire whole core and unlimited repeat testing.

Standard drill core samples were sent to SGS Westport for sample preparation. Core was crushed to 75 per cent passing two millimetres (mm) and a one-kilogram split of material was pulverized (to 85 per cent passing 75 microns). No split duplicates were collected during the crushing steps. Two scoops were taken from the pulverize bowl: one for laboratory analysis (approximately 150 grams) and the other for pXRF analysis (approximately 100 grams). The pulp reject is stored in Reefton. Pulverized drill core samples were analyzed by 50-gram fire assay with AAS (atomic absorption) finish at SGS Waihi (SGS code FAA505). The detection limit for Au by this method is 0.01 ppm. As part of SGS's internal quality control, SGS conducted repeat analyses, also at a rate of approximately 5 per cent.

The qualified person (QP) has verified the data disclosed, including sampling, assay procedure and analytical information, contained in the written disclosure.

About Rua Gold Inc.

Rua Gold is an exploration company, strategically focused on New Zealand. With decades of expertise, the company'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 over 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 Islands' Hauraki district, a region that has produced an impressive 15 million ounces of gold and 60 million ounces of silver. Glamorgan is adjacent to OceanaGold Corp.'s biggest gold mining project, WKP.

For further information, please refer to the company's disclosure record on SEDAR+.

Technical information

Simon Henderson, CP, AusIMM, a qualified person under National Instrument 43-101, Standards of Disclosure for Mineral Projects, has reviewed and approved the technical disclosure contained herein.

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