Rua Gold Completes the Acquisition of Siren Gold's Reefton Assets and Becomes the Dominant Reefton Goldfield Explorer

Rua Gold Inc. (TSXV: RUA) (OTCQB: NZAUF) (WKN: A4010V) ("RUA GOLD" or the "Company") is pleased to announce the completion of the acquisition (the "Transaction") of Reefton Resources Pty Limited ("Reefton"). Reefton was a 100% owned subsidiary of Siren Gold Ltd. (ASX:SNG) ("Siren"). The completion of the transaction expands RUA GOLD's tenement package to cover over 95% of the Reefton Goldfield.

Robert Eckford, CEO of RUA GOLD, stated: "Today marks a pivotal point in RUA GOLD's development. With the completion of this Transaction, the Reefton district is largely under control of one company. This creates the opportunity to develop a world-class, scalable mining operation in an area that had high-grade production and is considerably underexplored at depth.

Since the announcement in July, our team has been integrating Siren's data from the Reefton properties and will incorporate this into the VRIFY AI drill targeting platform. Putting together all of these advanced exploration projects through the Transaction creates an exciting district scale opportunity.

Advancing the Auld Creek gold project and weighing up other compelling targets for immediate drilling along with our current drilling successes provides a broad platform for the future."

With the Transaction complete, a third rig is mobilized to recommence drilling on the Auld Creek target, it is a compelling near surface resource opportunity. The two drill rigs currently operating will continue on the targets at Murray Creek, including the recently announced visible gold intercept of +1oz gold intersection (refer to news release dated November 4, 2024) and shallow Capleston targets.

Further targets are being analyzed in an iterative process using VRIFY AI targeting methodology and RUA GOLD's comprehensive combined exploration and mining data sets.

Figure 1: Overview of the Reefton Goldfield.

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Actively Advancing a District-Scale Discovery in a Tier 1 Jurisdiction:

Represents the next chapter in RUA GOLD's development towards our goal to be a major gold producer in New Zealand.
Newly consolidated project represents an under-explored high-grade gold district in the world.
Permits, access, and consents in place for aggressive drilling following a district-wide reassessment of targets and potential on the combined land package.
The Transaction will increase regional tenement holdings from ~34k ha to ~125k ha and cover all known past mine camps outside of the Blackwater and Globe Progress mines.
Potential for lower overall project capital expenditures through the development of a central processing hub.
The Transaction increases RUA GOLD profile in New Zealand, allowing greater opportunity to work alongside a pro-mining Government in helping to expand its resource potential.
Backed by a team of mining professionals with +150 years of combined experience.

Figure 2: Tenement map of the Reefton Goldfield.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10755/231266_5b87507614f048b7_007full.jpg

1. Source: https://federationmining.com.au/wp-content/uploads/2024/10/Investor-Deck-Federation-OCT-2024.pdf

Figure 3: Cross Section of historic underground mines in the Reefton Goldfield.

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Transaction Summary

The Transaction was completed pursuant to a share purchase agreement dated July 12, 2024, as amended October 18, 2024 (the "Amended Agreement"). Pursuant to the Amended Agreement, as consideration for the acquisition of Reefton, RUA GOLD paid Siren aggregate consideration of A$20 million (C$18.4 million), representing:

A$2 million (C$1.8 million) in cash; and
83,927,383 common shares in the capital of RUA GOLD (each, a "Company Share"), representing A$18 million (C$16.6 million[1])

(collectively, the "Reefton Consideration").

The Reefton Consideration remains subject to customary working capital adjustments.

RUA GOLD also acquired 10,000,000 common shares in the capital of Siren (each, a "Siren Share") at a price of A$0.20 (C$0.18) per Siren Share for an aggregate of A$2 million (C$1.8 million).

In connection with closing of the Transaction, the Company and Siren entered into a shareholder rights agreement pertaining to Siren's interest in RUA GOLD, pursuant to which, among other things:

RUA GOLD reconstituted its board of directors to be comprised of seven directors;
so long as Siren beneficially owns or controls at least 10% of the issued and outstanding Company Shares: (i) Siren may nominate one member to RUA GOLD's board of directors; and (ii) Siren will vote any Company Shares it owns or controls in support of any proposed resolution recommended by RUA GOLD's board of directors at any meeting of shareholders of the Company;
the 83,927,383 Company Shares issued to Siren at closing of the Transaction will be subject to the following resale restrictions: (i) 18,632,879 Company Shares will be restricted from trading until May 25, 2025; (ii) 18,632,879 Company Shares will be restricted from trading until November 25, 2025; (iii) 18,632,879 Company Shares will be restricted from trading until February 25, 2026; (iv) 18,632,879 Company Shares will be restricted from trading until May 25, 2026; and (v) 9,395,867 Company Shares will be restricted from trading until November 25, 2026 (collectively, the "Contractual Resale Restrictions"); and
the Contractual Resale Restrictions will cease to apply if, at any time following May 25, 2025, RUA GOLD's market capitalization is at least $208,102,222.73.

Following completion of the Transaction:

Reefton operates as a wholly-owned subsidiary of RUA GOLD;
RUA GOLD owns approximately 7.5% of the issued and outstanding Siren Shares, calculated on an undiluted basis;
Siren owns approximately 26% of the issued and outstanding Company Shares, calculated on an undiluted basis, resulting in a new Control Person (as defined in the Policies of the TSX Venture Exchange (the "TSXV"));
Siren's Chairman, Mr. Brian Rodan, joined RUA GOLD's board of directors; and
RUA GOLD will transfer back tenement PP 60893 covering 7,305.20 ha to Siren.

The Transaction and creation of a new Control of the Company was approved by disinterested shareholders of the Company through the written consents in in accordance with TSXV policies. The Transaction remains subject to final acceptance from the TSXV.

Early Warning Disclosure

Siren Gold

In connection with the closing of the Transaction, Siren, with an address at Level 2, 41 - 43 Ord Street, West Perth WA 6005, has acquired 83,927,383 Company Shares at a price of $0.1983 per Common Share for an aggregate subscription amount of approximately $16,642,800. Immediately prior to the completion of the Transaction, Siren owned no securities of the Company. As a result of the Transaction, Siren owns and controls approximately 26% of the issued and outstanding shares of the Company on a non-diluted basis and 24% on a fully diluted basis.

Siren acquired the Company Shares for investment purposes. In the future, Siren will evaluate its investment in the Company from time to time and may, based on such evaluation, market conditions and other circumstances, increase or decrease its shareholdings as circumstances require through market transactions, private agreements, or otherwise.

Siren currently has no plans or intentions which would result in a corporate transaction, a sale or transfer of a material amount of the assets of the Company or any of its subsidiaries, a change in the board of directors or management of the Company (other than as disclosed herein), including any plans or intentions to change the number or term of directors or to fill any existing vacancies on the board, a material change in the Company's business or corporate structure, a change in the Company's articles or similar instruments or another action which might impede the acquisition of control of Company by any person or company, a class of securities of the Company being delisted from, or ceasing to be authorized to be quoted on, a marketplace, the Company ceasing to be a reporting issuer in any jurisdiction of Canada, a solicitation of proxies from securityholders, or an action similar to any of those enumerated.

The disclosure respecting Siren's shareholdings contained in this press release is made pursuant to National Instrument 62-103 and a copy of the report in respect of the above acquisition will be filed with applicable securities commissions using the Canadian System for Electronic Document Analysis and Retrieval (SEDAR+) and will be available on the Company's SEDAR+ profile (www.sedarplus.ca). A copy may be obtained by contacting the Company as noted under "RUA GOLD Contact" below.

Advisors and Legal Counsel

Cormark Securities Inc. acted as financial advisor to the Company and its Board of Directors. McMillan LLP acted as Canadian legal counsel to the Company. Red Cloud Securities Inc. acted as financial advisor to Siren and its Board of Directors. Steinepreis Paganin acted as Australian legal counsel to Siren.

About RUA GOLD

RUA GOLD is an exploration company, strategically focused on New Zealand. With decades of expertise, our team has successfully taken major discoveries into producing world-class mines across multiple continents. The team is now focused on maximizing the asset potential of RUA'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 approximately 125,000 hectares of tenements, in a district that historically produced over 2 million ounces of gold grading between 9 and 50 grams per tonne.

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 15 million ounces of gold and 60 million ounces of silver. Glamorgan is within 3 kms of OceanaGold Corporation's biggest gold mining project, WKP.

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.

RUA GOLD Contact

Robert Eckford
Chief Executive Officer
Email: reckford@RUAGOLD.com
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 effects and benefits of the Transaction. 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 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.

Click here to connect with Rua Gold (TSXV:RUA,OTC:NZAUF,WKN:A4010V,OTCQB:NZAUF) to receive an Investor Presentation

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RUA GOLD Completes the Second Phase of Surface Exploration and Drill Targeting at the Glamorgan Project, New Zealand

Rua Gold Inc. (TSXV: RUA) (OTCQB: NZAUF) (WKN: A4010V) ("Rua Gold" or the "Company") is pleased to announce the completion of the second phase of surface exploration on its Glamorgan Project, an epithermal gold system in the Hauraki Goldfield, North Island, New Zealand.

The Hauraki Goldfield is a major epithermal gold province, with over 50 historic mines having produced more than 15 million ounces of gold. The Glamorgan Project lies adjacent to OceanaGold's Wharekirauponga deposit, with Indicated Mineral Resources of 1.4Moz at 17.9 g/t Au and is scheduled to enter construction in the second half of 2025¹.

Highlights:

The Company has completed its second phase of surface exploration, identified initial drill targets, and will submit its Access Agreement application at the end of May.
Results indicate classic features of a major epithermal gold-silver system and are identical to the surface features of neighboring OceanaGold Project, Wharekirauponga.
Four significant gold-arsenic soil anomalies trending north, north-east and north-northwest strike out individually over 4 kms in length.
Rock chip samples containing up to 43 g/t Au highlight specific targets for evaluation, coincident with the intersection of two gold-arsenic soil anomalies.
TerraSpec soil and clay mineralogy has identified a zonal clay distribution that reflects high-level epithermal alteration coincident with gold anomalism.
Ground-based geophysics Controlled-source Audio-frequency Magnetotellurics (CSAMT) has identified three major resistive structures coincident with surface alteration and gold mineralization. These resistive structures may represent pervasive silica-quartz at depth - key criteria for targeting the drilling within a major epithermal gold system.
All of the above results are being uploaded to the VRIFY AI-platform, where geological modelling is starting to assist in the systematic identification and ranking of drill targets.

Simon Henderson, COO of Rua Gold, commented: "This comprehensive, district-wide surface work has provided valuable new information, highlighting not just one, but three significant zones of potential mineralization for drill testing. These targets will be included in the Access Agreement for drilling, which is scheduled for submission at the end of May 2025.

Following detailed surface geological mapping, comprehensive soil geochemistry, specialist clay mineralogy, ultra-high resolution UAV magnetics, and proven depth-penetrating CSAMT geophysics, three significant zones have emerged as high-potential targets for drill testing. High-grade rock chip samples further support the potential to discover a major epithermal gold-silver vein system.

Results from this inaugural district-wide program are now streaming in and are being compiled, reviewed and actively prioritized in partnership with the VRIFY AI-platform to confirm and prioritize the drill program. The exploration team is excited to advance to the drilling phase of this unique and prospective target area."

Program Overview

Exploration activities - including extensive geological mapping, TerraSpec clay mineralogy, and ultra detailed magnetic and resistivity surveys - have focused on four major alteration cells that envelope these structures. These cells are directly associated with surface quartz veins, platy quartz after calcite, quartz-adularia minerals, and sinter-like textures, all indicative of the high levels of an epithermal gold-silver system.

The principle components of the surface work are detailed below.

Geological Mapping

Exploration in the first quarter of 2025 included the completion of geological mapping across the major drainages within the Glamorgan prospect, along with detailed examination of areas exhibiting intense alteration and mineralization identified in Stage 1. The Company also completed follow-up testing of the significant gold grades (8-43.1 g/t Au) previously reported in rock float and insitu rock samples (reported on January 25, 2025). Additional rock chip sampling (2-8 g/t Au) has identified key areas proximal to resistive zones and high-level clay alteration.

Figure 1: Geological map of the Glamorgan area.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10755/251889_b730bbc864e0bb2d_017full.jpg

TerraSpec Clay Mineralogy

A TerraSpec 4 High-Res portable spectrometer was used to analyze all soil and rock-chip samples, as well as available historical drill core. The hyperspectral reflectance data collected were interpreted using the cloud-based AI software program, aiSIRIS.

Anomaly A trends north-northwest for 4.2 kms with conjugate gold-arsenic trends extending in a northeast direction (Anomalies C and D). Montmorillonite clays mirror this anomaly, indicating strong structural control on fluid flow along this trend.
Anomaly B trends northerly, following north to northeasterly quartz veins mapped over 4 kms that remain open to the north and south. The southern end of this anomaly coincides with historical mine workings. This anomaly is highlighted by strong illite clay alteration enveloping quartz-calcite veins observed in mapping.
Anomalies C and D trend northeast, parallel to insitu quartz veining in the Phoenix Stream (Anomaly C), and silica-clay alteration along Wires Ridge (Anomaly D) (Figure 2).

Figure 2: Arsenic-Gold soil geochemistry with strong anomalies outlined.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10755/251889_b730bbc864e0bb2d_023full.jpg

Magnetics
Ultra detailed UAV magnetics flown by the Rua Gold team highlight strong alteration (de-magnetization of the host rocks) enveloping the four anomalies and demonstrating a major alteration cell indicative of a significant epithermal system.

Resistivity
A CSAMT survey was completed in February 2025 by the Rua Gold team. CSAMT is particularly effective at detecting ground resistivities to depths of several hundred meters, which can be interpreted to represent strong silicification and quartz veining when directly related to an area of intense alteration.

The survey identified several major, deep structures that align with features previously identified by UAV magnetics, gold-arsenic geochemistry anomalies, and mapped quartz veins, silicification and clay alteration (Figure 3).

Figure 3: CSAMT and IP resistivity results.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10755/251889_b730bbc864e0bb2d_028full.jpg

Glamorgan Exploration Overview

Following grant of a drone concessions in May 2024, and minimum impact exploration in July 2024, Rua Gold's exploration commenced with UAV ultra detailed magnetic surveying completing 590-line kms of flying using Geometrics MagArrow magnetometer suspended under a DJI M300 drone. Interpretation of the data has assisted in defining key aspects of lithology and alteration of the Whitianga Group rhyolites, and Coromandel Group andesites. Major structural elements are interpreted in the data aligning with regional mineralization trends.

Soil sampling commenced in July 2024 sampling along 250m spaced crosslines with a sample spacing of 20m. 3181 samples were collected, dried, sieved in Rua Gold's Waihi facility, then transported to Reefton for pXRF analysis. Each sample was also scanned using a TerraSpec 4 Hi-Res mineral analyzer to complete a picture of clay/alteration system enabling identification of the higher levels of the epithermal system. 50gms of soil was then freighted to ALS Brisbane for low-level precision gold assay. Arsenic anomalism with coincident gold anomalism highlights the four major soil anomalies A-D (Figure 2).

Anomaly A trends North north-west for 4.2 kms with conjugate gold-arsenic trends in a north-east direction. This anomaly remains open to the northeast. This north-east direction mirrors the orientation of the significant Wharekirauponga gold deposit 3 kms southeast of the Glamorgan permit.

Anomaly B trends northerly and follows north to northeasterly quartz veins mapped over 4 kms and open to the north and south. The southern end of this anomaly coincides with the Wentworth/Auckland historical mine workings.

Ultra detailed UAV magnetics flown by the Rua Gold team highlights strong alteration (de-magnetization of the host rocks) enveloping the two anomalies and demonstrating a major alteration cell indicative of the footprint of a major epithermal system.

Field mapping (ongoing) has highlighted broad alteration and veining in situ, and areas of quartz-adularia float displaying banded, platy quartz after calcite, and brecciated andesite with stockwork veining increasing toward the zones of interest. Rock sampling both float and in situ sampling has returned encouragingly anomalous gold (refer to Table 2 in the appendix below), coincident with the zones of high soil geochemistry.

Figure 4: Location map with soil geochemical heatmap over the Wires area

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ABOUT Rua Gold

Rua Gold is an exploration company, strategically focused on New Zealand. With decades of expertise, our team has successfully taken major discoveries into producing world-class mines across 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 tenements, in a district that historically produced over 2Moz of gold grading between 9 and 50g/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 Islands' Hauraki District, a region that has produced an impressive 15Moz of gold and 60Moz of silver. Glamorgan is adjacent to OceanaGold Corporation's biggest gold mining project, Wharekirauponga.

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 participated in the geophysical, sampling, and mapping programs to verify that they have been conducted in accordance with the standard operating procedures. Mr. Henderson has verified the data disclosed by running checks on the location, analytical, and test data underlying the information in the technical disclosure herein.

QA/QC SOIL SAMPLES

A bulk sample of ~0.5-1 kg was collected in the field. Each sample was photographed in the field alongside the GPS with coordinates visible and each sample site marked in the field with biodegradable flagging tape. Samples were taken back to Rua Gold's Waihi facility 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

The 50-100-g fine-sieved (Rua Gold's Reefton facility for pXRF using an Olympus Vanta hand-held analyser, and then on to ALS Geochemistry, Brisbane, for Au-TL43 analysis. The ALS 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 1ppb. ALS Brisbane is independent to Rua Gold.

Field duplicates were collected every 20^th sample and underwent the same drying, sieving, pXRF, and gold assay process outlined above. Duplicates were checked and validated by Rua Gold's Isogonal data validation system to ensure compliance.

QA/QC ROCK-CHIP SAMPLES

Rock-chip samples were collected in the field during routine mapping and soil sampling. The location of each sample was recorded in the field with a Garmin GPSMAP 66i and details of the samples recorded in a notebook or mapping application. Samples were photographed and sent to SGS Waihi for sample preparation. Sample information was entered into .csv files and uploaded to an SQL database.

Samples were crushed to 75% passing 2 mm (SGS code CRU75) and pulverised to 85% passing 75 µm (SGS code PUL85_CR). The pulverised rock-chips were split into two samples: a ~50 g sent for laboratory analysis, and the reject returned to Rua Gold for pXRF analysis and storage.

The 50 g sub-samples were analysed by AAS after fire assay at SGS Waihi (SGS code FAA505). Detection values for this method are 0.01-100 ppm Au.

SGS is independent to Rua Gold and its laboratories are accredited to applicable ISO/IEC 17025 standards.

Rua Gold Contact

Robert Eckford
Chief Executive Officer
Tel: +1 604 655 7354
Email: reckford@RUAGOLD.com
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, including but not limited to exploration programs at its Reefton project and the results thereof; and the Company's acquisition of Reefton Resources Pty Limited. 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 CSE Form 2A - Listing Statement filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors.

This news release references projects near to the Glamorgan Project and historical production from certain areas of New Zealand. Mineralization on nearby projects is not necessarily indicative of mineralization on the Glamorgan Project. Historical production from the Reefton Gold District or the Hauraki District is not an necessarily an indication that significant production will be possible from the Glamorgan Project.

Table 1: Significant gold and arsenic assay results from soil samples.

Sample ID	Easting_NZTM	Northing_NZTM	Au (ppm)	As (ppm)
WR10019	1846387	5875239	0.66	1052
WR18022	1845455	5873468	0.28	15
WR14016	1845843	5874398	0.26	36
WR05107	1848533	5875462	0.26	367
WR07134	1848758	5874761	0.26	26
WR06119	1848620	5875127	0.22	487
WR15027	1845911	5874072	0.19	119
WR11057	1846925	5874648	0.18	398
WR10018	1846369	5875249	0.18	353
WR09143	1848669	5874237	0.17	241
WR04109	1848691	5875660	0.14	1391
WR10019	1846387	5875239	0.66	1052
WR04111	1848726	5875641	0.06	954
WR04110	1848709	5875650	0.05	922
WR01116	1849182	5876244	0.10	896
WR16124	1847478	5872900	0.05	877
WR15118	1847496	5873177	0.12	857
WR11048	1846769	5874736	0.03	784
WR10033	1846630	5875102	0.06	772
WR15149	1848036	5872872	0.02	607

Table 2: Significant assay results from rock-chip samples.

Sample ID	Location	Type	Easting_NZTM	Northing_NZTM	Au (ppm)
GERS1666	Sutcliff Stream	Float	1847056	5874959	8.25
GERS1669	Sutcliff Stream	Float	1847092	5875111	7.15
GERS1661	Sutcliff Stream	Float	1846787	5874763	4.37
GERS1663	Sutcliff Stream	Float	1846916	5874785	3.95
GERS1667	Sutcliff Stream	Float	1847113	5875120	2.46

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Athena Gold Extends Closing of Private Placement

Athena Gold Corporation (CSE:ATHA) (OTCQB:AHNRF) ("Athena Gold" or the "Company") ") announces that further to its news release of April 21, 2025, the Company has received approval from the Canadian Securities Exchange to extend closing of its $0.05 non-flow-through unit private placement for gross proceeds of up to $200,000 (the "NFT Offering") to July 5, 2025. There are no changes to the terms of the NFT Offering in connection with the extension. Further details regarding the NFT Offering can be found in the Company's news release dated April 21, 2025, which is available under the Company's SEDAR+ profile at www.sedarplus.ca.

Presentation	Ticker(s)
Northern Superior Resources Inc.	(OTCQB: NSUPF \| TSXV: SUP)
Luca Mining Corp.	(OTCQX: LUCMF \| TSXV: LUCA)
Castille Resources Limited	(OTCQB: CLRSF \| ASX: CST)
Sun Summit Minerals Corp.	(OTCQB: SMREF \| TSXV: SMN)
Amex Exploration Inc.	(OTCQX: AMXEF \| TSXV: AMX)
Ucore Rare Metals, Inc.	(OTCQX: UURAF \| TSXV: UCU)
Kootenay Silver Inc.	(OTCQX: KOOYF \| TSXV: KTN)
Camino Minerals Corp.	(Pink: CAMZF \| TSXV: COR)
Precipitate Gold Corp.	(OTCQB: PREIF \| TSXV: PRG)
Callinex Mines Ltd.	(OTCQX: CLLXF \| TSXV: CNX)

Presentation	Ticker(s)
Canada Nickel Company Inc.	(OTCQX: CNIKF\| TSXV: CNC)
Anfield Energy Inc.	(OTCQB: ANLDF \| TSXV: AEC)
Newcore Gold Ltd.	(OTCQX: NCAUF \| TSXV: NCAU)
Empire Metals Ltd.	(OTCQB: EPMLF \| AIM: EEE)
Cerrado Gold Inc.	(OTCQX: CRDOF \| TSXV: CERT)
Silver Tiger Metals Inc.	(OTCQX: SLVTF \| TSXV: SLVR)
Horizon Copper Corp.	(OTCQX: HNCUF \| TSXV: HCU)
Kodiak Copper Corp.	(OTCQB: KDKCF \| TSXV: KDK )
Rua Gold Inc.	(OTCQB: NZAUF \| TSXV: RUA)
DynaResource, Inc.	(OTCQX: DYNR)

Presentation	Ticker(s)
Novo Resources Corp.	(OTCQB: NSRPF \| TSX: NVO)
Ecora Resources PLC	(OTCQX: ECRAF \| TSX: ECOR)
Power Metallic Mines Inc.	(OTCQB: PNPNF \| TSXV: PNPN)

Eastern Time (ET)	Presentation	Ticker(s)
9:30 AM ET	Northern Superior Resources Inc.	(OTCQB: NSUPF \| TSXV: SUP)
10:00 AM ET	Luca Mining Corp.	(OTCQX: LUCMF \| TSXV: LUCA)
10:30 AM ET	Castile Resources Limited	(OTCQB: CLRSF \| ASX: CST)
11:00 AM ET	Sun Summit Minerals Corp.	(OTCQB: SMREF \| TSXV: SMN)
11:30 AM ET	Amex Exploration Inc.	(OTCQX: AMXEF \| TSXV: AMX)
12:00 PM ET	Ucore Rare Metals, Inc.	(OTCQX: UURAF \| TSXV: UCU)
12:30 PM ET	Kootenay Silver Inc.	(OTCQX: KOOYF \| TSXV: KTN)
1:00 PM ET	Camino Minerals Corp.	(Pink: CAMZF \| TSXV: COR)
2:00 PM ET	Precipitate Gold Corp.	(OTCQB: PREIF \| TSXV: PRG)
3:00 PM ET	Callinex Mines Ltd.	(OTXQX: CLLXF \| TSXV: CNX)

Eastern Time (ET)	Presentation	Ticker(s)
9:30 AM ET	Canada Nickel Company Inc.	(OTCQX: CNIKF\| TSXV: CNC)
10:30 AM ET	Anfield Energy Inc.	(OTCQB: ANLDF \| TSXV: AEC)
11:00 AM ET	Newcore Gold Ltd.	(OTCQX: NCAUF \| TSXV: NCAU)
11:30 AM ET	Empire Metals Ltd.	(OTCQB: EPMLF \| AIM: EEE)
12:30 PM ET	Cerrado Gold Inc.	(OTCQX: CRDOF \| TSXV: CERT)
1:00 PM ET	Silver Tiger Metals Inc.	(OTCQX: SLVTF \| TSXV: SLVR)
1:30 PM ET	Horizon Copper Corp.	(OTCQX: HNCUF \| TSXV: HCU)
2:00 PM ET	Kodiak Copper Corp.	(OTCQB: KDKCF \| TSXV: KDK )
2:30 PM ET	Rua Gold Inc.	(OTCQB: NZAUF \| TSXV: RUA)
3:00 PM ET	DynaResource, Inc.	(OTCQX: DYNR)

(In dollars)	Three months ended March 31				Nine months ended March 31
	2025		2024		2025		2024
Revenues	–		–		–		255,000
Administration expenses	1,068,917		776,367		2,499,582		2,657,981
Care and maintenance	692,919		231,541		2,743,950		2,031,082
Exploration expenses	4,063,635		1,765,615		6,118,177		4,043,679
Settlement of litigation with Revenu Québec	–		–		(1,452,757	)	–
Deferred income and mining taxes	(1,100,000	)	–		(1,273,000	)	(170,712	)
Net loss and comprehensive loss	(5,466,608	)	(2,892,142	)	(9,756,976	)	(8,692,837	)
Net loss per share, basic and diluted	(0.01	)	(0.01	)	(0.01	)	(0.02	)

(In dollars)	March 31, 2025		June 30, 2024
Cash	937,733		757,753
Total assets	16,493,159		14,063,983
Non-current liabilities	12,908,748		12,261,315
Shareholders' equity	(3,447,876	)	(6,284,136	)
Working capital (non-IFRS measurement) *	(2,172,892	)	(4,947,411	)

Pascal Hamelin	Dany Cenac Robert, Investor Relations
President and Chief Executive Officer	Reseau ProMarket Inc.,
T : (819) 768-2857	T : (514) 722-2276, poste 456
Email : phamelin@abcourt.com	Email : dany.cenac-robert@reseaupromarket.com

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