RUA GOLD Closes C$8 Million Brokered Offering and Announces Commencement of Trading on the TSX Venture Exchange

RUA GOLD Closes C$8 Million Brokered Offering and Announces Commencement of Trading on the TSX Venture Exchange

This news release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States .

Highlights

  • Closing the fully subscribed brokered offering for C$8 million of gross proceeds
  • Conditional listing approval received from TSXV Listing Committee
  • TSXV trading under "RUA" to commence on or about July 29, 2024 , subject to satisfaction of customary conditions

Rua Gold Inc. (CSE: RUA) (OTCQB: NZAUF) (WKN: A4010V) (" Rua Gold " or the " Company ") is pleased to announce that it has closed its previously announced "best efforts" public offering consisting of 44,445,000 common shares in the capital of the Company (each, a " Common Share ") at a price of C$0.18 per Common Share for aggregate gross proceeds of C$8,000,100 (the " Offering "). The Company intends to use the net proceeds from the Offering for continuing the exploration program on its Reefton Project, and for general working capital and general corporate purposes.

RUA GOLD logo (CNW Group/Rua Gold Inc.)

The Offering was completed pursuant to an agency agreement (the " Agency Agreement ") between the Company and a syndicate of agents including Cormark Securities Inc., as lead agent and sole book-runner, Ventum Financial Corp. and Red Cloud Securities Inc. (collectively, the " Agents "). Pursuant to the Agency Agreement, the Company has granted the Agents an over-allotment option (the " Over-Allotment Option ") exercisable, in whole or in part, in the sole discretion of the Agents, to sell up to an additional 6,666,750 Common Shares for up to 30 days following closing of the Offering, on the same terms and conditions as the Offering.

Robert Eckford, CEO, commented: "The TSXV listing eliminates barriers to certain institutional and overseas investors for Rua Gold and marks an important point in the maturation of the Company. Since March 2024 when Rua Gold began trading, we have uplisted the company in both Canada and the US, completed a fully subscribed offering under our shelf prospectus, and announced a formative transaction to consolidate the Reefton Goldfield, providing investors a project of world class scale and quality. All the foundations are now in place for Rua Gold to achieve its aggressive growth plans. Drills are turning on our Murray Creek targets, and we look forward to delivering updates to the market in Q3."

The Offering was completed pursuant to a prospectus supplement dated July 19, 2024 (the " Prospectus Supplement ") to the Company's short form base shelf prospectus dated July 11, 2024 (the " Shelf Prospectus ") filed in each of the provinces and territories of Canada , except Québec. Copies of the Prospectus Supplement, Shelf Prospectus and Agency Agreement are available under the Company's SEDAR+ profile at www.sedarplus.ca .

In consideration for services rendered in connection with the Offering, the Company paid the Agents an aggregate cash fee of approximately C$402,000 and issued to the Agents an aggregate of 2,483,366 broker warrants (the " Broker Warrants "). Each Broker Warrant is exercisable to acquire one Common Share at the exercise price of C$0.18 per Common Share for a period of 24 months following closing of the Offering.

Certain insiders of the Company (the " Insiders ") subscribed to the Offering for an aggregate of 2,638,892 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% of the fair market value of the Company's market capitalization. A material change report will be 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.

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act ") or any U.S. state securities laws, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities, nor a solicitation for offers to buy any securities in the United States , nor in any other jurisdiction in which such offer, solicitation or sale would be unlawful. "United States" and "U.S. person" are as defined in Regulation S under the U.S. Securities Act.

In addition, the Company wishes to announce that the Company received conditional approval from the TSX Venture Exchange (the " TSXV ") to list its issued and outstanding Common Shares on the TSXV under the symbol "RUA" and the Company anticipates that, subject to satisfaction of customary conditions, effective at market open on July 29, 2024 , the Common Shares will commence trading on the TSXV.  The Company will continue to trade under its symbol "RUA". The CUSIP (No. 78109M107) and ISIN (No. 78109M1077) for the Common Shares will remain the same.

In connection with the listing on the TSXV, the Common Shares will be voluntarily delisted from the Canadian Securities Exchange. Shareholders of the Company are not required to take any action with respect to their shareholdings in connection with the Company's listing on the TSXV.

More information can be found at the Company's website: www.ruagold.com .

About Rua Gold

Rua Gold (CSE: RUA) (OTCQB: NZAUF), (WKN: A4010V) is a new entrant to the gold mining space, specializing in gold exploration and discovery in New Zealand . Upon closing of the transaction with Siren Gold Limited announced in July 2024 , the Company will have permits enveloping 90% of the Reefton Goldfield in New Zealand's South Island. This district has a rich history dating back to the gold rush in the late 1800s. The Company also has a highly prospective tenement package in the North Island, located within 3 kms of OceanaGold's biggest pipeline project, Wharekirauponga. Rua Gold combines traditional prospecting practices with modern technologies to uncover and capitalize on valuable gold deposits.

The Company is committed to responsible and sustainable exploration, which is evident in its professional planning and execution. The Company aims to minimize its environmental impact and to execute on its projects with key stakeholders in mind. Rua Gold has a highly skilled team of New Zealand professionals who possess extensive knowledge and experience in geology, geochemistry, and geophysical exploration technology.

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

Website: www.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; the intended use of the net proceeds of the Offering; the exercise of the Over-Allotment Option, the intended listing date of the Common Shares on the TSXV; the delisting of the Common Shares from the Canadian Securities Exchange; and the proposed transaction with Siren Gold. 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: risks relating to the terms and conditions of the proposed transaction with Siren Gold, 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 unfavourable 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 documents 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.

SOURCE Rua Gold Inc.

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Canadian Investment Regulatory Organization Trade Resumption - RUA

Canadian Investment Regulatory Organization Trade Resumption - RUA

Trading resumes in:

Company: Rua Gold Inc.

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RUA GOLD Announces C$8 Million Brokered Offering of Common Shares

RUA GOLD Announces C$8 Million Brokered Offering of Common Shares

This news release is intended for distribution in Canada only and is not intended for distribution to United States newswire services or dissemination in the United States .

Rua Gold Inc. (CSE: RUA) (OTCQB: NZAUF) (WKN: A4010V) (" Rua Gold " or the " Company ") is pleased to announce that it has entered into an agreement with Cormark Securities Inc., as lead agent and on behalf of a syndicate of agents to be formed (collectively, the " Agents "), pursuant to which the Agents have agreed to act as agents on a "best efforts" basis, in connection with the public offering of 44,445,000 common shares in the capital of the Company (each, a " Common Share ") at a price of C$0.18 per Common Share (the " Offering Price ") for aggregate gross proceeds of C$8,000,100 (the " Offering "). The Offering is expected to close on or about July 25, 2024 (the " Closing Date "), or such other date as agreed upon between the Company and the Agents, and is subject to certain conditions including, but not limited to the receipt of all necessary regulatory approvals.

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Clarification: Historical Mineral Resource Estimate at Reefton

Clarification: Historical Mineral Resource Estimate at Reefton

Rua Gold Inc. (CSE: RUA) (OTC: NZAUF) (WKN: A4010V) (" Rua Gold " or the " Company ") provides a clarification in relation to its news release of July 15, 2024 (" Rua Gold to acquire Siren Gold's Reefton assets and become the dominant Reefton Goldfield explorer ").

Previously, the Company disclosed that "the tenements owned by [Reefton Resources Pty Limited] hosts a total JORC-compliant inferred mineral resource estimate (at a 1.5 g/t Au cut-off grade) containing 444koz Au @ 3.81g/t Au and 8.7kt Sb @ 1.5% Sb". The Company wishes to clarify that the tenements presently owned by Reefton Resources Pty Limited ("Reefton Resources") do not contain a current mineral resource estimate. The Company intended to disclose the aforementioned "inferred mineral resource estimate" as a "historical estimate" within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). As a result, the Company also wishes to provide additional information and cautionary language required by NI 43-101.

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RUA GOLD permit and access extended for five years at the high grade Reefton Project and the Company targets Murray Creek in the near-mine drilling program

RUA GOLD permit and access extended for five years at the high grade Reefton Project and the Company targets Murray Creek in the near-mine drilling program

Rua Gold Inc. (CSE: RUA) (OTCQB: NZAUF) (WKN: A3DB6A) ("Rua Gold" or the "Company") is pleased to provide an exploration update for the Reefton Project on the South Island of New Zealand .

Permit and Land Access Agreements for drilling have been extended for a further 5 years

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RUA GOLD announces commencement of trading on OTCQB Market in the United States.

RUA GOLD announces commencement of trading on OTCQB Market in the United States.

Rua Gold Inc. (CSE: RUA) (OTC: NZAUF) (WKN: A4010V) ("Rua Gold" or the "Company") is pleased to announce that its common shares have commenced trading on the OTCQB Venture Market (the "OTCQB") under the symbol "NZAUF." The Company's common shares will continue to trade on the Canadian Securities Exchange (the "CSE") under the symbol "RUA" and the Frankfurt Stock Exchange under the symbol "A4010V".

RUAGOLD Logo (CNW Group/Rua Gold Inc.)

The Company expects that the posting of its common shares on the OTCQB, a well-known U.S. securities trading platform, will provide greater visibility and convenience of trading for U.S. investors, resulting in enhanced liquidity and greater reach. The Company's common shares are also eligible for book-entry and depository services of the Depository Trust Company ("DTC"), to facilitate electronic clearing and settlement of transfers of its common shares in the United States . This electronic method of clearing securities accelerates the settlement process for investors and brokers, enabling the common shares to be traded over a more comprehensive selection of brokerage firms by being DTC eligible. DTC eligibility will help enhance the Company's potential investor base and offer a more convenient trading experience for current and future shareholders.

U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcmarkets.com

"With the commencement of trading on the OTCQB, U.S. investors will have the same ease of access as Canadian and European investors through our CSE and Frankfurt listings," said Robert Eckford , CEO of Rua Gold . "We are focused on executing on our exploration program and look forward to sharing our story with a broader investor group."

More information can be found at the Company's website: www.ruagold.com .

About Rua Gold

Rua Gold (CSE: RUA, OTC: NZAUF, WKN: A4010V) is a new entrant to the mining industry, specializing in gold exploration and discovery in New Zealand . With permits that have a rich history dating back to the gold rush in the late 1800's, Rua Gold combines traditional prospecting practices with modern technologies to uncover and capitalize on valuable gold deposits.

The Company is committed to responsible and sustainable exploration, which is evident in its professional planning and execution. The Company aims to minimize its environmental impact and to execute on its projects with key stakeholders in mind. Rua Gold has a highly skilled team of New Zealand professionals who possess extensive knowledge and experience in geology, geochemistry, and geophysical exploration technology.

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

Website: www.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, and the results of posting of its shares on the OTCQB. 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 unfavourable 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 annual information form dated April 19, 2024 , 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.

SOURCE Rua Gold Inc.

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Horizon Minerals Limited  Growth and Infill Drilling Underway at Burbanks

Horizon Minerals Limited Growth and Infill Drilling Underway at Burbanks

Perth, Australia (ABN Newswire) - Horizon Minerals Limited (ASX:HRZ) is pleased to announce the commencement of drilling at the high grade Burbanks project, located approximately 9km to the south of Coolgardie in the heart of the Western Australian Goldfields (Figure 1*)

- Extensional and infill drilling has commenced at the high-grade Burbanks gold project, 9km south of Coolgardie in the Western Australian Goldfields

- Two phase RC and diamond drill programs for 30,000m planned:

o Phase 1 comprises ~15,000m of infill drilling to enhance resource continuity and confidence with results expected in the September 2025 quarter

o Phase 2 comprises ~15,000m of extensional drilling, targeting along strike and down dip of known high grade lodes

- Underground mining at Burbanks historically produced 324koz @ 22.7g/t Au

- The historical production is in addition to the existing JORC (2012) Mineral Resource of:

o 6.1Mt grading 2.4g/t Au for 466koz

- Infill and extension drilling in late 2023 intercepted significant mineralisation immediately down dip of historical high-grade intercepts with results including:

o 0.3m @ 45.40g/t Au from 428.1m (BBRC437D)
o 7.0m @ 5.51g/t Au from 130.0m (BBRC437D)
o 1.55m @ 20.43g/t Au from 301.0m (BBRC463D)
o 2.0m @ 11.79g/t Au from 425.0m (BBRC463D)

- Burbanks is expected to make a meaningful long-term contribution of high-grade ore feed to a refurbished Black Swan processing plant in the future

- The Black Swan PFS is scheduled for completion in the December quarter 2025

Commenting on the Burbanks drilling, Managing Director and CEO Mr Grant Haywood said:

"Past drilling at Burbanks has demonstrated the growth potential of this high-grade mineralised system both along strike and at depth. Our first phase of drilling will focus on transitioning more of the existing resource into the higher confidence JORC Indicated category to enable future conversion to an Ore Reserve and to progress this cornerstone asset towards being development ready. The second phase will then seek to deliver on the extensional potential seen in earlier drilling.

"As part of our strategy to become a standalone gold producer, we're undertaking a Pre-Feasibility Study to generate a five-year life of mine plan to feed our Black Swan processing facility, with Burbanks one of the key sources of high-grade mill feed for the plant. Refurbishment studies for Black Swan are being undertaken concurrently with the aim of first gold pour by the end of 2026."

The Company is focussed on becoming a standalone gold producer by refurbishing and repurposing it's Black Swan processing plant into a gold plant with a nominal throughput of 1.5Mtpa. Horizon is undertaking a Pre-Feasibility Study (PFS) to develop a five-year life of mine plan to fill the plant, and the Company believes that Burbanks will make a meaningful contribution of high-grade ore feed.

The Burbanks Project was acquired through the merger with Greenstone Resources Limited in June 2024. The project covers over 5km of strike in the highly prospective Burbanks Shear which historically is the most significant gold-producing structure within the Coolgardie Goldfield.

Project Geology

The Burbanks gold deposit is hosted by the high-Mg basalt and dolerite of the Burbanks Formation.

Alteration and several phases of metamorphism within the sequence has produced varying mineralogy, texture, and grain size within the mafic precursor, which historically has led to the description of gabbro and garnetiferous diorite as part of the host sequence. Five lithological units that comprise the host sequence are:

- Fine-grained amphibolite with a basaltic-doleritic appearance

- Coarse-grained amphibolite with a gabbroic appearance

- Gneissic amphibolite with a schistose to mylonitic texture

- Feldspar-amphibole and garnet gneiss with a dioritic appearance

- Quartz-veined zones

The above units are also intruded by two generations of later dykes into the sequence; one felsic and one mafic.

Mineral Resource Estimate (MRE)

There are several mineral domains within the Burbanks system, including Main Lode, Burbanks North, Burbanks South and Birthday Gift. The Burbanks MRE is summarised in Table 1*.

As can be seen from Table 1*, the majority of the resource is in the Inferred mineral resource category, with 31% of the open pit and only 10% of the underground resource in the higher confidence Indicated category. To bring in a larger proportion of the resource into the mine plan and provide for a higher conversion of the resource to an Ore Reserve, further infill drilling is required.

In addition, there is some information gaps in the metallurgical data for Burbanks, particularly in relation to comminution data that will be required for the PFS being undertaken by GR Engineering Services (GRES). This drilling program along with historical core will provide samples for this metallurgical testwork.

Drill Program

Previous drill programs completed in 2023 consisted of diamond and RC drilling successfully targeting down-dip and along-strike extensions to the known high-grade gold lodes, primarily in the upper 500m, and adjacent to the existing MRE. The historical workings only extend to 140m depth on the Birthday Gift lode, and 250m on the Main Lode. Previous drilling has confirmed the extension of the Main Lode ore body along strike and down plunge, with high-grade mineralisation identified more than 100 meters below historical workings. Additionally, the discovery of mineralised structures parallel to the main shear zone suggests a broader mineralised system, presenting opportunities for low-cost resource growth.

The Horizon geology team has reviewed the Burbanks deposit in detail, and has planned a ~30,000m drill program consisting of RC pre-collars with diamond tails. Drilling is programmed over two phases.

Phase 1 comprises 45 holes for ~15,500m and will concentrate on infill drilling either side of the Main Lode, towards the Birthday Gift and Burbanks North lodes to enhance resource continuity and resource confidence, and transition more of the resource from Inferred to Indicated. This will facilitate the generation of Ore Reserves and the development of a mining plan, essential steps for project advancement at Burbanks.

Guided by the Phase 1 results, the second phase of drilling will target down-dip and along strike extensions of known high-grade lodes, aiming to further expand and grow the resource base. The exploration strategy also includes targeting the projected extensions of the recently identified Burbanks North as well as parallel structures to the east.

Next Steps

Drilling is underway and initial results from Phase 1 are expected early in the September 2025 quarter.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/7CR3V963



About Horizon Minerals Limited:  

Horizon Minerals Limited (ASX:HRZ) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia's richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal gold mine has been recently completed.

Horizon is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.

Horizon has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE's, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.

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NevGold Releases Some of the Highest Grade Oxide Gold-Antimony Results To Date: 9.68 g/t AuEq Over 11.6 Meters  Within 2.85 g/t AuEq Over 60.3 Meters  at the Limousine Butte Project, Nevada

NevGold Releases Some of the Highest Grade Oxide Gold-Antimony Results To Date: 9.68 g/t AuEq Over 11.6 Meters Within 2.85 g/t AuEq Over 60.3 Meters at the Limousine Butte Project, Nevada

Nevgold Corp. (" NevGold " or the " Company ") (TSXV:NAU) (OTCQX:NAUFF) (Frankfurt:5E50 ) is pleased to announce further significant oxide gold-antimony ("Antimony", "Sb") drill results at its Limousine Butte Project (the "Project", "Limo Butte") in Nevada. The Company continues to expand the substantial gold-antimony potential of the Project, highlighting its promising prospects for further exploration and development in Nevada, one of the world's prolific mining jurisdictions.

Key Highlights

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Pinnacle Provides Update on High-Grade El Potrero Gold-Silver Project

Pinnacle Provides Update on High-Grade El Potrero Gold-Silver Project

(TheNewswire)

Pinnacle Silver and Gold Corp.

VANCOUVER, BRITISH COLUMBIA TheNewswire - June 25, 2025 (TSXV: PINN, OTC: NRGOF, Frankfurt: P9J) Pinnacle Silver and Gold Corp. (" Pinnacle " or the " Company ") is pleased to provide an update on the high-grade Potrero gold-silver property in Durango, Mexico (see Figure 1).  While surface and underground mapping and sampling continues, a recent site visit was conducted for consultants to assess the condition of the processing plant and provide guidance on potential permitting procedures.

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