RUA GOLD Targets Significant Epithermal Gold System In The Hauraki Goldfield, New Zealand

(MENAFN- Newsfile Corp) Vancouver, British Columbia--(Newsfile Corp. - October 3, 2024) - RUA Gold Inc. (TSXV: RUA) (OTCQB: NZAUF) (WKN: A4010V) (" RUA gold " or the " Company ") is pleased to provide an exploration update for its Glamorgan Project in the Hauraki Goldfield, on the North Island of New Zealand and situated 2.8km north of OceanaGold Corporation's ("OceanaGold's") Wharekirauponga Project ("WKP") which has indicated resources of 1.01 Moz at 15.9 g/t1.

The Company was granted a Minimum Impact Access Agreement ("MIA") from the Department of Conservation ("DoC") for its Glamorgan Project in August 2024. Following this, the exploration team was mobilized and has made excellent progress, including:

• collecting 2,000 of the planned 3,000 soil sample program;

• completing the first full phase of UAV drone magnetic geophysical surveying; and

• commencing ground geological mapping.

Based on initial surface soil geochemistry, interpreted geophysical structures, and geological mapping, there is preliminary evidence that the Glamorgan Project has the hallmarks of a significant epithermal gold system, with surface features similar to the adjacent WKP gold deposit. Further exploration work is required to confirm whether a significant epithermal gold system exists.

Following its surface exploration work, the Company will design a drill program and apply for a full Access Agreement by the end of the year to commence drilling at the Glamorgan Project.

On March 7, 2024, OceanaGold included the accelerated development of WKP in New Zealand's newly introduced Fast Track Approvals Bill, creating a road map for RUA GOLD. This Bill was introduced by the New Zealand Government in March 2024, and aims to provide a streamlined 'one stop shop' decision-making process to facilitate the delivery of infrastructure and development projects, including mining projects with significant regional or national benefits.

Robert Eckford, CEO, commented: "This is pleasing progress on the ground at our Glamorgan Project, and important verification of the historical work of Newmont and OceanaGold. The preliminary evidence of an epithermal system gives strong encouragement to have drill locations selected by the end of the year. The geology in the region is exceptional, as evidenced by the results coming from OceanaGold's nearby WKP project, and we see the exact same surface features at our Glamorgan Project. We have mobilized a highly experienced operating team with decades of region-specific geological knowledge."

Geochemistry

Preliminary pXRF soil results of the initial 1083 samples show strong arsenic anomalism (max 981ppm As) in southwest and northeast zones mirroring the historical trends. Arsenic is a reliable pathfinder closely associated in many gold deposits. These results complement the data collected from previous work of Newmont and OceanaGold soil analysis. Observed surface quartz vein outcrop (recognised by the soil teams) lie central to these geochemical anomalies. Initial gold results are anticipated in late October 2024.

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Geological Mapping

Detailed Anaconda style geological mapping has highlighted outcropping quartz veins, breccias and silicified alteration enveloping this veining. Strong banding, quartz-adularia, quartz breccia, and platy quartz after calcite are described in situ. The range of veins, and geographic spread of the vein and alteration observed indicate exposure of a very large fossil epithermal gold system.

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Magnetic (UAV Drone) Surveying

Ultra detailed magnetic surveying over a 3 kilometre by 5 kilometre area has provided a glimpse of very strong northeast structural faulting, along with circular features interpreted to represent rhyolitic domes adjacent to andesite flow units. These observations on the raw total magnetic field are preliminary. As the Company works on filtering the data, they will be looking to identify features of magnetite destruction (alteration) that accompanies and envelopes significant epithermal mineralisation.

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Environmental Studies

Work has commenced to establish baseline environmental requirements on drill sites as we work to submit our Access Agreement to allow for drilling. This work is ongoing and will be submitted before the end of the year.

About Glamorgan

RUA GOLD's Glamorgan Project comprises of over 4,600 hectares in the Hauraki district, on the North Island of New Zealand. The district has produced over 15 million ounces of gold and 60 million ounces of silver, and is home to OceanaGold's most significant pipeline project, WKP, which has indicated resources of 1.01 Moz at 15.9 g/t2.

RUA GOLD's Chief Operating Officer, Simon Henderson had previously joint-ventured both the Glamorgan Project and WKP Project and was a leading member of the exploration team that led to its discovery.

Grant of Deferred Share Units

The Company also announces that it has granted an aggregate of 392,363 deferred share units ("DSUs") to non-executive directors of the Company at a deemed price of $0.169 per DSU. The DSUs were granted in consideration for services provided by the non-executive directors for the period from July 1, 2024 to September 30, 2024. The DSUs were granted under the Company's Deferred Share Unit Plan adopted on April 17, 2024, and are subject to a one-year vesting period. Each DSU entitles the holder to receive one share of the Company at the time the holder ceases to be a director of the Company.

About RUA GOLD

RUA GOLD is an exploration company, strategically focused on two prolific gold districts in New Zealand with proven high-grade gold deposits, with a team that has a track record of success.

The Company controls the Reefton Gold District as the dominant landholder in the Reefton Goldfield on New Zealand's South Island. RUA GOLD will have approximately 120,000 hectares of tenements (upon successful completion of the purchase of Reefton Resources Pty Limited, see announcement on July 15, 2024), in a district that historically produced over 2.0 million ounces of gold grading between 9 and 50 grams per tonne.

The Company's Glamorgan Project, a highly prospective project located within the North Islands' Hauraki district. It is within 3 kms of OceanaGold's biggest gold mining project, WKP. The Hauraki district has produced an impressive 15 million ounces of gold and 60 million ounces of silver. This project solidifies RUA GOLD's position as a leading high-grade gold explorer in the region.

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

QAQC Soil Samples

A bulk sample of ~0.5-1 kg was collected in the field at the Company's Waihi base, and couriered to RGL's office for preparation. Samples were dried in a customized incubator, set at 38°C, for a minimum of two days. Once the samples were fully dried, they were sieved to <180 μm in size. A sub-sample of 50-100 g was scooped from the <180 μm size fraction for analysis. The remaining material was retained and stored in Reefton.

A 50-100-g fine-sieved (<180 μm) soil sample was sent to ALS Geochemistry, Brisbane for Au-TL43 analysis. The analysis consisted of 25-g sample digestion by aqua regia, followed by trace Au analysis by ICP-MS. The detection limit for Au by this method is 1 ppb. Approximately 5% of the samples were analyzed for a full multi-element suite using a 4-acid digest and ICP-MS finish.

ALS Brisbane is independent to RUA GOLD.

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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