Mr. Robert Eckford reports

RUA GOLD CLOSES C$5.75 MILLION BROKERED OFFERING INCLUDING THE FULL EXERCISE OF OVER-ALLOTMENT OPTION

Rua Gold Inc. has closed its previously announced brokered best efforts public offering consisting of 9,583,410 common shares in the capital of the company, which included the exercise of the overallotment option in full, at a price of 60 cents per common share for aggregate gross proceeds of $5,750,046.

Highlights

• Closing the oversubscribed brokered offering for $5.75-million of gross proceeds;
• Participation by all directors and officers of the company, maintaining alignment to shareholders;
• Raise was completed without dilutive warrants and without a significant discount to market trading price.

The company intends to use the net proceeds from the offering for continuing the exploration program on its Reefton project, and for general corporate and working capital purposes, as disclosed in the prospectus supplement.

Robert Eckford, chief executive officer, commented: "We are pleased to have completed this fully subscribed offering, including the overallotment under our shelf prospectus. We will now execute on the company's exploration strategy in Reefton and expand its mineral resources. It was very encouraging to see the support of current shareholders participating in this financing, including all the directors and officers of the company. As always, we remain aligned with shareholders to make this company a success."

The offering was completed pursuant to an agency agreement between the company and Cormark Securities Inc. as sole agent.

In consideration for services rendered in connection with the offering, the company paid the agent a cash fee of $269,999 and issued to the agent 575,004 broker warrants. Each broker warrant is exercisable to acquire one common share at an exercise price of 60 cents per common share for a period of 24 months following closing of the offering.

The offering was completed in Canada pursuant to a prospectus supplement dated Feb. 14, 2025, to the company's short form base shelf prospectus dated July 11, 2024, filed in each of the provinces and territories of Canada, except Quebec. Common shares were also issued in the United States and in offshore jurisdictions pursuant to private placement or similar exemptions in accordance with applicable securities laws. Copies of the prospectus supplement, shelf prospectus and agency agreement are available under the company's SEDAR+ profile. The offering remains subject to the final acceptance of the TSX Venture Exchange.

Insiders of the company subscribed to the offering for an aggregate of 1,890,109 common shares. This issuance of the common shares to the Insiders constitutes a related party transaction as such term is defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions (MI 61-101). The company is relying on an exemption from the formal valuation and minority shareholder approval requirements provided under MI 61-101 pursuant to Section 5.5(a) and Section 5.7(1)(a) of MI 61-101, on the basis that the participation in the offering by the insiders does not exceed 25 per cent of the fair market value of the company's market capitalization. A material change report was not filed in connection with the participation of the insiders in the offering less than 21 days in advance of the closing of the offering, which the company considers reasonable in the circumstances so as to be able to avail itself of potential financing opportunities and to complete the offering in an expeditious manner.

About Rua Gold Inc.

Rua Gold is an exploration company, strategically focused on New Zealand. With decades of expertise, its team has taken major discoveries into producing world-class mines across multiple continents. The team is 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, Wharekirauponga.

We seek Safe Harbor.