RUA GOLD Commences Exploration Program at the Glamorgan Project on the North Island of New Zealand.

RUA GOLD Commences Exploration Program at the Glamorgan Project on the North Island of New Zealand.

Rua Gold Inc. (CSE: RUA) (OTC: NZAUF) (WKN: A4010V) ("Rua Gold" or the "Company") is pleased to announce that the Company has received its drone concession from the Department of Conservation ("DoC") for its Glamorgan Project, located on the North Island of New Zealand and situated 2.8km north of OceanaGold's Wharekirauponga Project ("WKP"). The exploration team has mobilized, and magnetic geophysical surveys are underway.

  • Rua Gold has a well-funded exploration program allocated to the Glamorgan Project.
  • The Company has applied for minimum impact access from DoC, to allow soil sampling, resistivity geophysical surveys and geological mapping, expected to be received in Q2 2024.
  • Following this surface exploration work, the Company will design the drill program and apply for full access to commence exploration drilling by the end of the year.
  • On May 5, 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 . ( https://www.beehive.govt.nz/release/one-stop-shop-major-projects-fast-track ).

Robert Eckford , CEO commented: "This is a great first step to have boots on the ground at our Glamorgan Project and enabling us to start surface exploration work, so we are ready for drilling by the end of the year. The continuous exceptional results coming from OceanaGold's WKP project are extremely encouraging, and we see the exact same surface features at our Glamorgan Project. The geology in this epithermal region is exceptional and we have mobilized a highly experienced operating team with a lot of region specific experience".

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

About Glamorgan:

Rua Gold's Glamorgan Project comprises of over 4,600 hectares in the Hauraki district, on the North Island of New Zealand . Lying 2.8km from OceanaGold's most significant pipeline project, WKP, which has Indicated resources of 1.01 Moz at 15.9 g/t 1 , the near-ology makes this a very compelling exploration target. The area has produced over 15M ounces of gold and 60 million ounces of silver. Surface work is underway and access permissions have been submitted.

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

The Company is excited about the potential within this permit where previous exploration has outlined a zone of silicification, veining and alteration with > 50 ppb gold in soils over its 3.8km length, and rock samples in the vicinity returning up to 95g/t gold. These exhibit classic features of an epithermal gold mineralized system.

1 Based on OceanaGold's reported Resources and Reserves for the year ended 2023, see February 21, 2024 news release for more details.

Figure 1: Overview of the Glamorgan Project in relation to OceanaGold's Wharekirauponga Project. (CNW Group/Rua Gold Inc.)

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 .

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.

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 exploration and drilling programs at its Glamorgan project; and the Company's expected receipt of permits or other regulatory approvals. 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.

RUAGOLD Logo (CNW Group/Rua Gold Inc.)

SOURCE Rua Gold Inc.

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  • The flowsheet consists of gravity – flotation - concentrate cleaning - Albion Process™ oxidation - CIL (carbon-in-leach).
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Freegold Ventures Limited (TSX: FVL) (OCTQX: FGOVF) ("Freegold" or the "Company") is pleased to announce additional results based on the ongoing metallurgical test work on drill hole composites from the 2020 2022 drill programs. The objectives of the recently completed testwork were:

Freegold Ventures Limited logo (CNW Group/Freegold Ventures Limited)

  • Advancement of understanding of gold deportment and recovery methods from previously released metallurgical test work results
  • Optimization of gold recovery and flowsheet make-up considering the minimization of both future capital and operating cost intensity with the benefit of significant additional and overall gold recovery

Eight drill core composites, representing different locations and grades within the Dolphin and Cleary areas, were created using continuous drill intervals chosen to reflect potential mill feed. (Refer to the map below for hole locations.) The selections of drill holes and intervals included the three primary gold-hosting lithologies. The results indicate that a gold recovery rate of 93% can be achieved using standard and commercially employed mineral processing operations. The composites were prepared from laboratory assay rejects of fresh rock intervals located well below the existing oxide cap at Golden Summit. Eight drill hole composites were utilized, comprising 1,192 meters of drill intercepts that represent 587 continuous mineralized intervals with a total material weight of over 5,100 kilograms.

Composite DDH Make Up

GS2201

GS2203

GS2206

GS2207


GS2208

GS2209

GS2168

GS2167

Test Calc Grade


gold recovery %


Au g/t

Gravity

Flotation

Post Oxidation Stage
CIL

Total






1.15

40 %

55 %

97 %

>93%

Summary of Gold Recovery

Since 2020, drilling activities at the Golden Summit project have significantly bolstered its potential, reinforcing the project's viability through positive metallurgical outcomes and a marked increase in overall resources. The current pit-constrained resource includes both oxide and primary resources, with the oxide component located within the upper 70 meters. Previous column tests on the oxide material indicate that heap leach gold recoveries can reach 85% within two weeks. Ongoing optimization efforts are focused on delineating the most effective flow sheet for the sulphide component before initiating a pre-feasibility study.

The strategic plan for 2025 outlines extensive drilling initiatives aimed at upgrading resources from the inferred category to the indicated category, which is crucial for completing the planned pre-feasibility study. The September 2024 Primary Resource, using a 0.5 g/t cut-off, is 346,304,000 tonnes at 1.08 g/t Au (12,050,000 contained ounces) in the indicated mineral resource category and 308,311,000 tonnes at 1.04 g/t Au (10,306,000 contained ounces) in the inferred mineral resource category.

In 2024, 41 holes, totaling 25,708m , were drilled. Assay results from twelve drill holes related to the 2024 program are pending. Results from the 2024 program will be incorporated into an updated mineral resource estimate expected to be released later in 2025.

Ongoing Metallurgical Work: The primary areas of focus in the next phase of metallurgical test work are in progress and include:

  • Comminution studies using half PQ core
  • Flotation concentrate oxidation pre-treatment utilizing BIOX® and POX prior to CIL

Link to Map Showing Location of Metallurgical Composite Holes and 2024 Drilling

https://freegoldventures.com/site/assets/files/6287/metdrillingplanmap_february2025.pdf

The Qualified Person for this release is Alvin Jackson , P.Geo., Vice President of Exploration and Development for Freegold, who has approved the scientific and technical disclosure in this news release.

About Freegold Ventures Limited  
Freegold is a TSX-listed company focused on exploration in Alaska . It holds the Golden Summit Gold Project near Fairbanks and the Shorty Creek Copper-Gold Project near Livengood through leases.

Some statements in this news release contain forward-looking information, including, without limitation, statements as to planned expenditures and exploration programs, potential mineralization and resources, exploration results, the completion of an updated NI 43-101 technical report, and any other future plans. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the statements. Such factors include, without limitation, the completion of planned expenditures, the ability to complete exploration programs on schedule, and the success of exploration programs. See Freegold's Annual Information Form for the year ended December 31st, 2023 , filed under Freegold's profile at www.sedar.com , for a detailed discussion of the risk factors associated with Freegold's operations. On January 30, 2020 , the World Health Organization declared the COVID-19 outbreak a global health emergency. Reactions to the spread of COVID-19 continue to lead to, among other things, significant restrictions on travel, business closures, quarantines, and a general reduction in economic activity. While these effects have been reduced in recent months, the continuation and re-introduction of significant restrictions, business disruptions, and related financial impact, and the duration of any such disruptions cannot be reasonably estimated. The risks to Freegold of such public health crises also include employee health and safety risks and a slowdown or temporary suspension of operations in geographic locations impacted by an outbreak. Such public health crises, as well as global geopolitical crises, can result in volatility and disruptions in the supply and demand for various products and services, global supply chains, and financial markets, as well as declining trade and market sentiment and reduced mobility of people, all of which could affect interest rates, credit ratings, credit risk, and inflation. As a result of the COVID-19 outbreak, Freegold has implemented a COVID management program and established a full-service Camp at Golden Summit to attempt to mitigate risks to its employees, contractors, and community. While the extent to which COVID-19 may impact Freegold is uncertain, it is possible that COVID-19 may have a material adverse effect   on Freegold's business, results of operations, and financial condition.

SOURCE Freegold Ventures Limited

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