Mr. Robert Eckford reports

RUA GOLD ANNOUNCES UPSIZING OF BROKERED OFFERING

Rua Gold Inc., due to strong investor demand, has amended its agreement with Raymond James Ltd. and Cormark Securities Inc., as joint bookrunners and co-lead agents on behalf of a syndicate of agents, including Beacon Securities Ltd., to increase the size of its previously announced brokered private placement offering of common shares of the company to raise gross proceeds of up to $24,999,920, consisting of 22,727,200 common shares at a price of $1.10 per common share.

The net proceeds of the upsized offering will be used for exploration and development activities on the company's Reefton project and Glamorgan project, both located in New Zealand, and for working capital and general corporate purposes.

The common shares issued under the upsized offering will be issued and sold to eligible purchasers pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106, Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption, will be issued to purchasers in each of the provinces of Canada, except Quebec, and other qualifying jurisdictions, including the United States on a private placement basis pursuant to available exemptions from the registration requirements under the United States Securities Act of 1933, as amended. The common shares to be issued and sold under the upsized offering will not be subject to resale restrictions pursuant to applicable Canadian securities laws.

Due to the upsizing of the previously announced brokered private placement, the agents will no longer have the option to offer for sale up to an additional 15 per cent of the number of common shares sold in the upsized offering.

There is an amended and restated offering document related to the upsized offering that can be accessed under the company's issuer profile on SEDAR+ and on the company's website. Prospective investors should read this amended and restated offering document before making an investment decision concerning the common shares.

The upsized offering is expected to close on or about Jan. 28, 2026, and is subject to certain closing conditions, including, but not limited to, the receipt of all necessary approvals, including the conditional listing approval of the TSX Venture Exchange and the applicable securities regulatory authorities. The upsized offering is subject to final acceptance of the TSX-V.

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 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 (oz) of gold grading between nine and 50 grams per tonne (g/t). 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 oz of gold and 60 million oz of silver. Glamorgan is adjacent to OceanaGold Corp.'s biggest gold mining project, Wharekirauponga.

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