Rua Gold Inc. (TSX: RUA, NZX: RGI, OTC: NZAUF, WKN: A40QYC) (“RUA GOLD” or the “Company“) is pleased to announce the filing of a Preliminary Economic Assessment for the Auld Creek Gold Antimony Project located in the Reefton Goldfield on the West Coast of New Zealand. A copy of the Technical Report is available on www.sedarplus.ca and on the Company’s website www.ruagold.com.
The scientific and technical information contained in this news release has been prepared and approved by the following independent Qualified Persons, each within the meaning of National Instrument 43 101 – Standards of Disclosure for Mineral Projects (“NI 43 101”):
- Abraham Whaanga, BSc, MAusIMM (CP) of RSC has reviewed and verified the resource related information disclosed herein.
- Gary Davison, FAusIMM, Principal Mining Engineer and Director of Mining One Consultants, has reviewed the mining methods, mining capital and operating costs and is responsible for Economic Analysis.
- Marius Phillips, NHD Ex Met, MAusIMM (CP), RPEQ and Technical Director of Pitch Black Group is responsible for information relating to plant capital and operating costs, mineral processing and metallurgical testing and recovery methods.
Each Qualified Person:
- has independently reviewed and verified relevant underlying data in the MRE and PEA. • has consented to the disclosure of the information in this news release in the form and context in which it appears.
- is independent of Rua Gold Inc. within the meaning of NI 43 101.
The Mineral Resource Estimate (MRE) presented in RUA’s press release on 5 May 2026 was based on mineable shapes created by RSC for the February 2026 Independent Technical Report (Whaanga, 2026). This MRE is comparable to the ‘RAW MSO’ MRE presented in Table 14-21 of the PEA Technical Report, which was based on Mineable Stope Optimiser (MSO)-generated shapes produced by Mining One for the PEA.
The final MSO set presented in Table 14-21 of the PEA Technical Report is materially different to the MRE in the 5 May 2026 press release, with a -22–27% change in AuEq ounces. This is due to the consideration of additional geotechnical, engineering, and economic factors, including partial extraction of a crown pillar, for the purpose of meeting the criteria for reasonable prospects for eventual economic extraction (RPEEE) at the PEA level. Further details of the factors considered are provided in Section 14.10 of the Technical Report
ABOUT RUA GOLD
RUA GOLD is an exploration company, strategically focused on New Zealand. With decades of expertise, our team has successfully turned major discoveries into producing world-class mines in 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 permits, in a district that historically produced over 2Moz of gold grading from 9–50g/t(1).
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 15Moz of gold and 60Moz of silver(2).
For further information, please refer to the Company’s disclosure record on SEDAR+ at www.sedarplus.ca.
TECHNICAL INFORMATION
Simon Henderson CP, AUSIMM, a qualified person under National Instrument 43-101 Standards of Disclosure for Mineral Projects and Chief Operating Officer and a director of RUA GOLD, has reviewed and approved the technical disclosure contained herein. Mr. Henderson has verified the data disclosed, including sampling, analytical and test data underlying the information or opinions contained in the technical information herein. Mr. Henderson supervised the Company’s drill program and verified the data disclosed, including sampling, analytical and QA/QC data, including reviewing the reports of SGS Laboratories, methodologies, results, and all procedures undertaken for quality assurance and quality control in a manner consistent with industry practice, and all matters were consistent and accurate according to his professional judgement. There were no limitations on the verification process.
RUA GOLD Contact
New Zealand
Simon Delander
VP Risk Stakeholder Regulatory Affairs Email: sdelander@RUAGOLD.com Website: www.RUAGOLD.com
Canada
Robert Eckford
Chief Executive Officer
Email: reckford@RUAGOLD.com
This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur and specifically include statements regarding: the Company’s strategies, expectations, planned operations or future actions, including but not limited to drill program at the Auld Creek target and the timing and results thereof, the timing or results of PFS, and the timing or result of an application for a mine permit. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward looking statements.
Investors are cautioned that any such forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. A variety of inherent risks, uncertainties and factors, many of which are beyond the Company’s control, affect the operations, performance and results of the Company and its business, and could cause actual events or results to differ materially from estimated or anticipated events or results expressed or implied by forward looking statements. Some of these risks, uncertainties and factors include: general business, economic, competitive, political and social uncertainties; risks related to the effects of the Russia-Ukraine war; risks related to climate change; operational risks in exploration, delays or changes in plans with respect to exploration projects or capital expenditures; the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; changes in labour costs and other costs and expenses or equipment or processes to operate as anticipated, accidents, labour disputes and other risks of the mining industry, including but not limited to environmental hazards, flooding or unfavorable operating conditions and losses, insurrection or war, delays in obtaining governmental approvals or financing, and commodity prices. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements and reference should also be made to the Company’s short form base shelf prospectus dated July 11, 2024, and the documents incorporated by reference therein, filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors.
Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
1. Technical Report on the Reefton Project, New Zealand, with an effective date of February 27, 2026 available under the Company’s SEDAR+ profile at www.sedarplus.ca.
2. Christie, A., Simpson, M., Barker, R., and Braithwaite, R. 2019. Exploration for epithermal Au-Ag deposits in New Zealand: history and strategy. New Zealand Journal of Geology and Geophysics, 62:1, 414-441. NI 43-101 Technical Report, Waihi District Pre-feasibility Study, New Zealand. OceanaGold Corporation, Report Date: December 11, 2024.aihi District Pre-feasibility Study, New Zealand. OceanaGold Corporation, Report Date: December 11, 2024.