RUA GOLD Intersects Visible Gold and Antimony and Confirms Continuity of High-Grade Gold Mineralization at Murray Creek

RUA GOLD Intersects Visible Gold and Antimony and Confirms Continuity of High-Grade Gold Mineralization at Murray Creek

Rua Gold Inc. (TSXV: RUA) (OTCQB: NZAUF) (WKN: A40QYC) ("Rua Gold" or the "Company") is pleased to provide an update from the drilling campaign underway at the Reefton Project on the South Island of New Zealand.

Highlights:

  • All three holes in Murray Creek have intercepted visible gold in down-dip extensions of the historical Victoria lode, demonstrating vertical continuity over 100 meters and still open.
  • Murry Creek assays ranging from 11.1 – 34.1g/t gold, intercept widths indicate a pinch and swell of the vein from 0.2 – 1.2m.
  • 1.35% Sb (stibnite) in DD_VIC_42A demonstrates the antimony potential in this region.
  • Introduction of Devico Navi-drilling provides benefits of accuracy and economy in the resource definition stage.
  • Gold results in 4 of the 6 drill holes at Capleston, with the northern-most intercept averaging 4.8g/t Au over 3.3m.

Robert Eckford, CEO of Rua Gold commented: "it is very encouraging to be intercepting gold on the majority of our targets in the Reefton Goldfield. Murray Creek has delivered vertical continuity and visible gold on every hole and even more exciting as we start seeing visible antimony on this target. The drill program is progressing nicely and with the navi-drilling team in place and two main holes complete, we can start building structure with our 20m spaced drill program. The near surface gold results at Capleston also indicate there is potential for early development opportunities."

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Figure 1: Quartz vein from VIC042A, 0.3m @ 27.18 g/t Au.

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Murray Creek

The Company has advanced the testing of the down-dip extension of the Victoria lode, DD_VIC_042B. This intersected the targeted gold vein at 390m down hole with a 1m quartz vein followed by a 0.2m mineralized fault, including fine visible gold throughout the vein and antimony infilling fractures. This intercept is 80m below the historical Victoria mine, and 20m northeast of the DD_VIC_042A intercept.

The third drill hole (DD_VIC_042A) intercepted a 0.3m quartz vein with visible gold in a 0.6m mineralized fault. The quartz vein assayed 0.3m at 27.2/t Au with 1.35% Sb (antimony).

Table 1: Assay results Murray Creek Drilling Program

Drill hole FromToIntervalAu (g/t)Sb (%)
VIC_042388.65388.850.2m34.1Not tested
VIC_042A 388.6388.90.3m27.21.35%
VIC_042B390.0391.21.2m11.1Pending

Rua Gold have commenced a series of directional drill holes with IMDEX Devico Navi-drilling to progress the delineation of the unmined reef down dip and along strike.

Two parent holes have been established (DD_VIC_042 and 046) and there are 6 more directionally drilled holes planned in the first quarter 2025. This program will test ~200m down strike of the historical Victoria Mine lode which produced 33,877oz at 19.9g/t Au (Barry, 1993).

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Figure 2: Cross section through the Victoria lode, Murray Creek.

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Capleston

The Company is targeting an undeveloped and near-surface vein at the southern end of the two kilometer long historic Capleston project. Near surface targets lend themselves to early development and are the closest to transportation and infrastructure, providing low-cost operational advantages.

The program consists of 6 drill holes, with the northern-most intercept averaging 4.8g/t Au over 3.3m.

Table 2: Assay results Capleston Drilling Program

Drill hole FromToIntervalAu (g/t)
REF_04332331m3.2
REF_044 31321m2.9
REF_044T29312m5.3
REF_04729.7333.3m4.8

The drill rig at Capleston has been demobilized as the exploration team shift its focus onto the Cumberland targeted as highlighted in the news release dated January 13, 2024. Results from the drill program will be collated into the model and assessed for the next phase of drilling.

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Figure 3: Intercepts of REF047 and REF048, inspecting core at Reform.

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Figure 4: Location of Reefton Projects

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QAQC Drilling

The majority of drillholes were sampled in full, typically following 1-m sample intervals unless geological contacts (i.e. dolerite intrusions) dictated otherwise. NQ core was analyzed as whole core; therefore, only requiring cutting along sample intervals. PQ and HQ core were sampled as half core.

Coarse gold intersections (Victoria lode visible nuggety gold intervals) are sampled in full, dried and dispatched to ALS Perth, Australia for PhotonAssay analysis using method PA01 with a detection limit of 0.03ppm Au. 500gm samples were submitted with Certified Reference Material (CRM) following coarse crushing. This method is non-destructive allowing the preservation of the entire whole-core, and unlimited repeat testing.

Standard drill core samples were sent to SGS Westport for sample preparation. Core was crushed to 75% passing 2 mm, and 1-kg split of material was pulverized (to 85% passing 75 µm). No split duplicates were collected during the crushing steps. Two scoops were taken from the pulverize bowl: one for laboratory analysis (~150 g) and the other for pXRF analysis (~100 g). The pulp reject is stored in Reefton. Pulverized drill core samples were analyzed by 50-g fire assay with AAS finish at SGS Waihi (SGS Code FAA505). The detection limit for Au by this method is 0.01 ppm. As part of SGS' internal quality control, SGS conducted repeat analyses, also at a rate of ~5%.

The QP has verified the data disclosed including sampling, assay procedure and analytical information contained in the written disclosure.

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 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 adjacent to 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
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. 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 CSE Form 2A - Listing Statement 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.

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An emerging gold explorer in New Zealand’s historical goldfields

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Freegold Logo (CNW Group/Freegold Ventures Limited)

The following nine nominees were elected as directors of Freegold. The detailed results of the vote for the election of directors are set out below:

MOTIONS

NUMBER OF SHARES

PERCENTAGE OF VOTES CAST

FOR

AGAINST

WITHHELD/
ABSTAIN

FOR

AGAINST

WITHHELD/
ABSTAIN

To elect as Director :Kristina Walcott

96,353,303


1,800,834

98.165 %


1.835 %

To Elect as Director: Alvin Jackson

97,016,593


1,137,544

98.841 %


1.159 %

To Elect as Director: David Knight

85,790,018


12,364,119

87.403 %


12.597 %

To Elect as Director: Garnet Dawson

97,308,977


845,160

99.139 %


0.861 %

To Elect as Director: Ron Ewing

96,839,477


1,314,660

98.661 %


1.339 %

To Elect as Director: Glen Dickson

85,396,927


12,757,210

87.003 %


12.997 %

To Elect as Director: Reagan Glazier

79,513,338


18,640,799

81.009 %


18.991 %

To Elect as Director: Maurice Tagami

97,900,807


253,330

99.742 %


0.258 %

To Elect as Director: Vivienne Artz

93,614,569


4,539,568

95.375 %


4.625 %

The Company's shareholders approved the appointment of Davidson & Company LLP, Chartered Professional Accountants, as the Company's auditors, as set forth in the management information circular.

The Company's shareholders approved the Company's new omnibus equity incentive plan.

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Golden Summit Project Update:

Drilling at Golden Summit is progressing well. Drilling is focused on resource definition, which includes both expansion and infill drilling, as well as geotechnical and metallurgical holes. Like the 2024 drill program, the current efforts aim to upgrade inferred resources to indicated status in preparation for the upcoming pre-feasibility study, which is expected to commence later this year. An updated mineral resource estimate is expected to be finalised soon, and the initial assay results from the 2025 drill program are also anticipated shortly.

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, 2024 , 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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