RUA GOLD Reports Significant Gold-Antimony Intercepts from Its Reefton Project

Rua Gold Inc. (TSXV: RUA) (OTCQB: NZAUF) (WKN: A40QYC) ("Rua Gold" or the "Company") is pleased to provide an update on assay results from its gold-antimony exploration at the Auld Creek project, within the Reefton Goldfield on the South Island of New Zealand; reporting strong antimony grades from current drilling.

Highlights:

Drilling of Auld Creek commenced in December 2024, holes ACDD024 and ACDD025 intersected 4-5m of strong visible stibnite (antimony) mineralization.
Assay results show:
- ACDDH024: 12m @ 12.2g/t AuEq¹ (1.9g/t Au & 2.4% Sb) from 105m depth
  - Including 2m @ 54.8 g/t AuEq¹ (3.8g/t Au & 11.9% Sb)
- ACDDH025: 8m @ 13.2g/t AuEq¹ (2.2g/t Au & 2.2% Sb) from 106m depth
  - Including 3m @ 33.2g/t AuEq¹ (3.6g/t Au & 6.9% Sb)
Auld Creek has an inferred resource hosted by two ore shoots, Bonanza and Fraternal. This resource outcrops at surface and is continuous to 160m vertically and open at depth.
Drilling has confirmed higher grade antimony mineralisation on the Fraternal shoot within a broader lower grade gold halo. Modelling suggesting a gentle plunge to the south, remains open to the south along strike and at depth with drilling commencing to the south to expand the existing resource.
Surface exploration is intensifying to target extensions to the Fraternal and Bonanza north and south, where it remains open over a 2.5km length.

Robert Eckford, CEO of Rua Gold commented: "The results from these two holes drilled at Auld Creek show increased antimony grades which is very encouraging. It further supports the fact that we are holders of New Zealand's largest antimony resource and are delivering on the commitment to our shareholders to build on our inventory of gold ounces and antimony tonnes at our Reefton project.

Drilling to date on Auld Creek antimony-gold prospect has improved confidence in the existing resource and provided detail on higher grade plunging shoots open to the south. We are focused on expanding the Auld Creek resource north and south, with intensified surface exploration to assist targeting additional mineralization over its 2.5km surface strike length.

This comes on the back of both gold and antimony trading at all time high spot prices and both commodities being announced on New Zealand's first ever critical minerals list."

1. Using recent spot prices of gold and antimony, and applying a ~30% discount, the gold equivalent formula is based on AuEq = Au g/t + 4.3 x Sb% using a Au price of US$2065/oz, Sb price of US$34,300 per tonne and 85% recovery.

Figure 1: Overview of the Reefton Goldfield.

To view an enhanced version of this graphic, please visit:
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GLOBAL SUPPLY AND VALUE OF ANTIMONY

Antimony is a critical mineral sourced from stibnite (Sb₂S₃). In 2023, it was reported by the Critical Minerals Institute (CMI) as one of the scarcest of all critical minerals. Spot prices have risen as demand increases with its essential input into applications across renewable energy, liquid battery metals, defence and technological sectors.

Due to its scarcity and limited supply, predominantly controlled by China, Russia & Tajikistan, antimony is considered a strategic material essential for supply-chain security, particularly during periods of geopolitical instability. This was heightened in August 2024, when China announced export controls on processed antimony products. In response to these controls, nations have accelerated their efforts to secure alternative sources of antimony to mitigate the risk of significant supply chain vulnerabilities.

The US, EU, UK, Japan, Canada and Australia all designate antimony as a critical mineral. On January 31, 2025, New Zealand also announced their Critical Mineral List which included antimony.

Reflecting heightened demand, the price of antimony continues to reach new highs, trading over US$50,000 per tonne, a significant increase from US$11,350 per tonne at the start of 2024.

EXPLORATION POTENTIAL

Auld Creek Focus

Rua Gold commenced drilling at Auld Creek in December 2024. It has a targeted program to drill four mineralised shoots identified from historical surface exploration work interpreted by the Rua Gold team over the past 3 months.

Auld Creek is situated between two past producing mines, Globe Progress mine, and the Crushington Group of mines which collectively produced 933,000oz at 14.0g/t Au (Barry 1993). Auld Creek has three historic adits but no commercial production from the reefs.

Rua Gold has an inferred resource indicating 700,000 tonnes at 3.1g/t Au and 1.1% Sb for 67,000oz of gold and 8,000 tonnes of antimony². The resource is restricted to two of the four known shoots. Soil geochemistry indicates the potential for discovery of additional mineralised shoots over a strike length of 2.5km.

2. Please see the Company's technical report entitled, "Technical Report on Reefton Project, New Zealand", dated October 30, 2024.

Two of the four holes completed to date intersected 4-5m of strong visible stibnite (antimony sulfide) mineralization in the Fraternal-Bonanza structure. No significant mineralization was found in holes ACDDH022 and ACDDH023. Results from ACDDH024, ACDDH025 confirm the average gold grades of current resource estimate but report higher antimony grades. Full table of results are in Tables 1 and 2 of the appendices.

Ongoing drilling is targeting the southern plunging Fraternal gold-antimony shoot which remains open along strike and at depth.

Intensified surface exploration is focused both north and north-west to delineate drill targets on the Fraternal North and Bonanza north-west extensions.

Figure 2: Fraternal and Bonanza ore shoots at Auld Creek.

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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.

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

TECHNICAL INFORMATION

Simon Henderson CP, AUSIMM, a qualified person under National Instrument 43-101 Standards of Disclosure for Mineral Projects and Chief Operating Officer and a director of Rua Gold, has reviewed and approved the technical disclosure contained herein. Mr. Henderson has verified the data disclosed by running checks on the location, analytical, and test data underlying the information in the technical disclosure herein.

QA/QC Drill Core

Drillholes sampled 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.

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) and for antimony (Sb) by Sodium Peroxide Fusion Analysis by ICP-MS at SGS Waihi. 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%.

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, including but not limited to exploration programs at its Reefton and Glamorgan projects 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 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.

Table 1: Summary of assay results from hole ACDDH024.

Hole ID	Azimuth	Dip (⁰)	Easting (NZTM)	Northing (NZTM)	From	To	Interval (m)	Au g/t	Sb %	Au Eq
ACDDH024	220	-37	1507290	5333147	105	106	1	1.28	0.03	1.41
					106	107	1	1.65	0.01	1.69
					107	108	1	1.65	0.05	1.86
					108	109	1	1.79	0.04	1.96
					109	110	1	3.34	0.74	6.51
					110	111	1	1.71	0.89	5.53
					111	112	1	2.16	0.13	2.72
					112	113	1	1.18	0.34	2.64
					113	114	1	5.18	9.99	48.03
					114	115	1	2.42	13.80	61.61
					115	116	1	0.33	1.50	6.76
					116	117	1	0.32	1.61	7.23
						from 105m	12	1.92	2.43	12.33
						from 113m	2	3.80	11.90	54.82

Note: Intervals represented are down-hole intervals, and averages are arithmetic.

Table 2: Summary of assay results from hole ACDDH025.

Hole ID	Azimuth	Dip (⁰)	Easting (NZTM)	Northing (NZTM)	From	To	Interval (m)	Au g/t	Sb %	Au Eq
ACDDH025	246.8	-53.6	1507290	5333147	116	117	1	1.9	0.01	1.94
					117	118	1	0.48	0.01	0.52
					118	119	1	0.77	0.02	0.86
					119	120	1	1.14	0.01	1.18
					120	121	1	2.4	0.73	5.53
					121	122	1	7.29	3.87	23.89
					122	123	1	2.49	15.6	69.40
					123	124	1	1.04	1.29	6.57
						from 116m	8	2.2	2.7	13.74
						from 121m	3	3.6	6.9	33.29

Note: Intervals represented are down-hole intervals, and averages are arithmetic.

Table 3: Significant drilling intercepts for Auld Creek, full mineralized zone composites (1.5 g/t Au cut-off)¹.

Hole ID	Azimuth	Dip (⁰)	Easting (NZTM)	Northing (NZTM)	From (m)	To (m)	Downhole Interval (m)	Au (g/t)	Sb (%)
ACDDH004	45	-60	1507194	5332976	51.72	57.9	6.18	1.59	0,01
ACDDH004	45	-60	1507194	5332976	116.19	136.84	20.65	5.41	2.17
ACDDH005	100	-60	1507194	5332976	57.66	64.41	6.75	1.64	0.06
ACDDH005	100	-60	1507194	5332976	65.8	80.35	14.55	2.07	0.10
ACDDH007	40	-58	1507185	5332881	123.22	148.45	25.23	3.14	0.07
ACDDH008	100	-58	1507186	5332881	72.14	76.35	4.21	1.55	0.02
ACDDH011	130	-81	1507212	5333051	75.3	83.4	8.1	2.73	4.33
ACDDH015	158	-58	1507204	5333139	69.6	82	12.4	5.19	13.65
ACDDH015	158	-58	1507204	5333139	105	132.4	27.4	3.67	0.2
ACDDH016	330	-55	1507202	5333141	65	90	25	6.55	0.29

Full drilling results are available in the Company's technical report entitled, "Technical Report on Reefton Project, New Zealand", dated October 30, 2024.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/242259

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RUA GOLD to Present at the Metals & Mining Virtual Investor Conference May 6th 2025

Rua Gold Inc. (TSXV: RUA, OTC: NZAUF, WKN: A40QYC) (" Rua Gold " or the " Company ") announces that it will present live at the Metals & Mining Virtual Investor Conference hosted by VirtualInvestorConferences.com, on May 6 th . The Company invites individual and institutional investors as well as advisors and analysts, to attend its real-time, interactive presentation online at VirtualInvestorConferences.com.

This live, interactive online event will give existing shareholders and the investment community the opportunity to interact with the Company's CEO, Robert Eckford in real time.

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Blackrock Drills 4.2m of 700 g/t AgEq and Reports Multiple +1 kg/t AgEq Intercepts at Tonopah West

M&I Conversion Program Drilling Continues to Expand and Confirm Continuity of High-Grade Gold and Silver Mineralization in the Shallowest Portion of the M&I Conversion Area

HIGHLIGHTS:

TXC25-138 returned multiple broad zones of high-grade silver and gold mineralization spanning from 230.4 metres to 241.86 metres down hole, including:
- 4.24 metres grading 700 grams per tonne (g/t) silver equivalent (AgEq) (Ag/Au ratio 90:1) (378.5 g/t silver (Ag) and 3.57 g/t gold (Au)) from 230 metres down hole, including 0.31 metres grading 3,182 g/t AgEq (1,805.0 g/t Ag and 15.27 g/t Au); and
- 5.18 metres grading 556 gt/ AgEq (328.2 g/t Ag and 2.53 g/t Au) from 236.68 metres, which included intervals of 3,340 g/t AgEq (1,987 g/t Ag and15.0 g/t Au) over 0.31 metres and 1,714 g/t AgEq (1,037.0 g/t Ag and 7.51 g/t Au) over 0.61 metres respectively.
There are ten drillholes with pending assays from the M&I Conversion Program, and seven drillholes are pending assays from the Resource Expansion program.
Modelling of the M&I Conversion Program drillholes is now underway, with an updated mineral resource estimate on track for Q3, 2025.

Blackrock Silver Corp. (TSXV: BRC) (OTCQX: BKRRF) (FSE: AHZ0) ("Blackrock" or the "Company") announces additional high-grade silver and gold drill intercepts from the M&I Conversion Program (as defined herein) at its 100% owned Tonopah West project ("Tonopah West") located in Nye and Esmeralda Counties, Nevada, United States.

The Company is currently in the process of completing its in-fill drilling program at Tonopah West which commenced in mid-July 2024 and consists of 62 drillholes within the shallow southern portion of the Bermuda-Merten vein group ("DPB South") resource area (the "M&I Conversion Area") with a goal to convert up to 1.0-million tonnes of material from inferred mineral resources to measured and indicated mineral resources (the "M&I Conversion Program"). The M&I Conversion Area represents the initial years of production based on the mine plan laid out in the Company's Preliminary Economic Assessment on Tonopah West (see September 4, 2024 news release).

Andrew Pollard, the Company's President and Chief Executive Officer, stated: "Additional results from our M&I Conversion Program continue to validate our model, supporting mineral continuity as we track and define the geometry of the high-grade shoots within the vein system. Today's results, coupled with results previously announced from this same program, highlight that broader intercepts are associated with higher-than-average grades which should be beneficial in delineating high-grade tonnes. The broad zones of high-grade mineralization encountered in drillhole TXC-138 are a standout for us, as at a composite of 11.46 metres of 514 g/t AgEq (290 g/t Ag & 2.48 g/t Au), this is thickest (composite) zone we've drilled throughout the district outside of the historic Victor mine. As we await the final assays from the M&I Conversion Program, modelling has begun for our upcoming mineral resource update on Tonopah West, currently on track for Q3, 2025."

Table 1: Tonopah West Assay Intercepts using 150 g/t AgEq cut off

Drillhole ID	Hole Type	Program	From (m)	To (m)	Drill Interval (m)	Ag g/t	Au g/t	AgEq g/t
TXC25-125	RC/Core	M&I Conversion	327.97	329.31	1.34	118.21	1.336	238.73
Including			328.27	328.58	0.31	432.00	4.900	874.03
TXC25-126	RC/Core	M&I Conversion	319.61	320.22	0.61	247.80	2.554	478.20
Including			319.92	320.22	0.31	421.00	4.380	816.12
TXC25-127	RC/Core	M&I Conversion	230.22	230.73	0.52	66.14	0.964	153.10
TXC25-128	RC/Core	M&I Conversion	300.81	302.21	1.40	244.83	2.070	431.56
TXC25-128	RC/Core	M&I Conversion	348.14	348.75	0.61	300.50	3.030	573.84
TXC25-128	RC/Core	M&I Conversion	427.76	428.46	0.70	129.00	1.360	251.69
TXC25-129	RC/Core	M&I Conversion	307.24	308.15	0.91	155.50	1.322	274.76
TXC25-129	RC/Core	M&I Conversion	323.27	323.88	0.61	65.10	1.140	167.94
TXC25-129	RC/Core	M&I Conversion	344.94	345.55	0.61	237.00	2.520	464.33
TXC25-131	RC/Core	M&I Conversion	319.19	319.80	0.61	292.74	2.480	516.46
Including			319.49	319.80	0.31	584.00	4.940	1,029.64
TXC25-132	RC/Core	M&I Conversion	437.60	438.52	0.92	125.81	1.804	288.55
TXC25-138	RC/Core	M&I Conversion	213.30	213.82	0.52	111.00	0.945	196.25
TXC25-138	RC/Core	M&I Conversion	230.40	234.64	4.24	378.52	3.572	700.75
Including			232.72	233.02	0.31	1,805.00	15.267	3,182.24
TXC25-138	RC/Core	M&I Conversion	236.68	241.86	5.18	328.23	2.528	556.28
Including			238.35	238.66	0.31	1,987.00	15.000	3,340.15
Including			240.03	240.64	0.61	1,037.00	7.510	1,714.48
TXC25-140	RC/Core	M&I Conversion	295.96	296.51	0.55	78.09	1.180	184.54
TXC25-140	RC/Core	M&I Conversion	358.14	358.84	0.70	77.31	0.989	166.53
TXC25-140	RC/Core	M&I Conversion	362.90	363.81	0.91	335.63	3.803	678.70
Including			362.90	363.20	0.30	371.00	4.310	759.81
TXC25-140	RC/Core	M&I Conversion	378.11	380.09	1.98	95.98	1.215	205.59
Including			379.05	380.09	1.04	136.49	1.787	297.70
AgEq = Ag + Au(Factor); where Factor = (Au Price/Ag Price)(Au Recovery/Ag Recovery or Factor=($1900/$23)*(95%/87%)=90.21; True thickness is 90 to 100% of interval thickness based on the modelled vein geometries; Cut-off grade is 150 gpt AgEq; Reverse Circulation (RC)/Core = RC pre-collar with core tail.

As is evident from Table 1, the highest-grade results are associated with thicker intercepts of quartz vein material. This is similar to previous results seen from the M&I Conversion Program where broader intercepts were encountered, such as: TXC24-095 which returned 5.03 metres of 774.5 g/t AgEq (461.5 g/t Ag and 3.47 g/t Au),¹ TXC24-119 which returned 4.69 metres of 714 g/t AgEq (379.0 g/t Ag and 3.72 g/t Au),² and TXC24-122 which cut 5.21 metres of 563 g/t AgEq (3.02 g/t Au and 292 g/t Ag)³ .This combination of high grade and thickness should have a positive impact on the proposed development of the M&I Conversion Area and the scheduled mineral resource update. Modelling of the M&I Conversion Program drillholes has started and an updated mineral resource estimate on Tonopah West is currently scheduled for Q3 2025.

The geometry of the high-grade silver and gold is sizable with high-grade shoots plunging to the northwest within the M&I Conversion Area. These shoots are open to the northwest, east and open down plunge. TXC25-138 shows high-grade shoots have thicker vein intercepts along the axis of the shoot and multiple high-grade intercepts are being returned under the M&I Conversion Program. Allowing for the 3 metres of internal waste, TXC25-138 would have a drill interval of 11.46 metres grading 290.2 g/t Ag and 2.48 g/t Au or 514.3 g/t AgEq. The thickness of this mineralized shoot is approaching those seen in the historic mining at the Victor and Ohio mines where the Victor vein area was 24 metres thick and the Ohio vein area was 15 metres thick⁴.

Figure 1: Tonopah West project showing NI43-101 resource location and expansion potential

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/676/251267_df9b5b7fb4827b2a_001full.jpg

Drillholes TXC25-133, -134, -135, and TXC25-136 returned silver and gold assays below the cutoff grade for Table 1. The drillholes returned silver equivalent grades ranging between 100 and 144 g/t AgEq with silver values ranging between 6 to 71 g/t and gold values between 0.51 and 1.34 g/t. There are ten drillholes (TXC25-137, -139, -141, -142, and TXC25-146 to -TXC25-151) with pending assays from the M&I Conversion Program. In addition, seven drillholes are pending assays from the Company's exploration drill program that is targeting expansion potential across a one kilometre trend of vein corridor linking the Denver-Paymaster and Bermuda-Merten vein groups and the Northwest step out resource area at Tonopah West (the "Resource Expansion Program") (see February 24, 2025 news release).

Figure 2 is a plan map showing the location of all the drillholes in the M&I Conversion Program and highlighting those reported in this news release.

Figure 2: Drillhole location map of the M&I Conversion Program showing drillholes reported in this news release.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/676/251267_df9b5b7fb4827b2a_002full.jpg

Table 2: Tonopah West Drillhole Location Coordinates (based on GPS readings in the field, Datum UTM, NAD 1927, Zone 11)

Hole ID	Area	Type	UTM_NAD27 East	UTM_NAD27 North	Elevation (m)	Depth (ft)	Depth (m)	Azimuth	Dip
TXC25-125	DPB South	RC/Core	477803.70	4213416.77	1772.86	1177.0	358.7	180	-55
TXC25-126	DPB South	RC/Core	477804.02	4213508.86	1767.74	1377.0	419.7	180	-55
TXC25-127	DPB South	RC/Core	477777.73	4213417.95	1771.99	1002.0	305.4	180	-62
TXC25-128	DPB South	RC/Core	477748.86	4213697.90	1767.22	1559.0	475.2	180	-55
TXC25-129	DPB South	RC/Core	477792.34	4213590.24	1769.09	1398.0	426.1	180	-60
TXC25-130	DPB South	RC/Core	477813.05	4213696.50	1768.97	1332.0	406.0	180	-55
TXC25-131	DPB South	RC/Core	477774.72	4213512.62	1767.17	1312.0	399.9	180	-60
TXC25-132	DPB South	RC/Core	477738.29	4213429.15	1768.79	1532.0	467.0	180	-55
TXC25-133	DPB South	RC/Core	478534.92	4213166.73	1803.79	1160.0	353.6	180	-67
TXC25-134	DPB South	RC/Core	478382.37	4213223.62	1798.88	1256.5	383.0	180	-69
TXC25-135	DPB South	RC/Core	478196.91	4213351.05	1782.35	1002.0	305.4	180	-58
TXC25-136	DPB South	RC/Core	477845.60	4213690.57	1770.44	1470.0	448.1	180	-72
TXC25-137	DPB South	RC/Core	477930.70	4213330.78	1776.32	1028.0	313.3	180	-62
TXC25-138	DPB South	RC/Core	477930.70	4213330.04	1776.49	1050.0	320.0	180	-51
TXC25-139	DPB South	RC/Core	477980.65	4213246.52	1778.41	1061.0	323.4	180	-67
TXC25-140	DPB South	RC/Core	477834.09	4213503.16	1768.96	1646.0	501.7	180	-65

Quality Assurance/ Quality Control

All sampling is conducted under the supervision of the Company's project geologists, and a strict chain of custody from the project to the sample preparation facility is implemented and monitored. The RC and core samples are hauled from the project site to a secure and fenced facility in Tonopah, Nevada, where they are loaded on to American Assay Laboratory's (AAL) flat-bed truck and delivered to AAL's facility in Sparks, Nevada. A sample submittal sheet is delivered to AAL personnel who organize and process the sample intervals pursuant to the Company's instructions.

The RC samples are lined out at the lab and logged in to AAL's system. The core samples are cut using core saws and personnel at AAL's facility in Sparks, Nevada according to the Company's instructions delivered with each core hole.

All samples are dried, crushed to 85% passing 10 mesh (2mm) and a 250-gram sub-sample split is collected and pulverized to 200 mesh (74 micron) in a ring and puck pulverizer. Then the pulverized material is digested and analyzed for gold using fire assay fusion and an Induced Coupled Plasma (ICP) finish on a 30-gram assay split (FA-PB30-ICP). Silver is determined using five-acid digestion and ICP analysis (ICP-5AM48). Over limits for gold and silver are determined using a gravimetric finish (GRAVAU30 and GRAVAG30). Data verification of the assay and analytical results are completed to ensure accurate and verifiable results. Blackrock personnel insert a blind prep blank, lab blank or a certified reference material approximately every 15th to 20th sample.

Qualified Persons

Blackrock's exploration activities at Tonopah West are conducted and supervised by Mr. William Howald, Executive Chairman of Blackrock. Mr. William Howald, AIPG Certified Professional Geologist #11041, is a Qualified Person as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Howald has reviewed and approved the contents of this news release.

About Blackrock Silver Corp.

Backed by gold and silver ounces in the ground, Blackrock is a junior precious metal focused exploration and development company driven to add shareholder value. Anchored by a seasoned Board of Directors, the Company is focused on its 100% controlled Nevada portfolio of properties consisting of low-sulphidation, epithermal gold and silver mineralization located along the established Northern Nevada Rift in north-central Nevada and the Walker Lane trend in western Nevada.

Additional information on Blackrock Silver Corp. can be found on its website at www.blackrocksilver.com and by reviewing its profile on SEDAR at www.sedarplus.ca.

Cautionary Note Regarding Forward-Looking Statements and Information

This news release contains "forward-looking statements" and "forward-looking information" (collectively, "forward-looking statements") within the meaning of Canadian and United States securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are forward-looking statements. Forward-Looking statements in this news release relate to, among other things: the Company's strategic plans; the timing of completion of the Company's drill programs at Tonopah West and the anticipated objectives and results therefrom; the incorporation of the results from the M&I Conversion Program in an updated mineral resource estimate on Tonopah West and the anticipated timing of release thereof; the Company's de-risking initiatives at Tonopah West; estimates of mineral resource quantities and qualities; estimates of mineralization from drilling; geological information projected from sampling results; and the potential quantities and grades of the target zones.

These forward-looking statements reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include, among other things: conditions in general economic and financial markets; accuracy of assay results; geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services; future operating costs; the historical basis for current estimates of potential quantities and grades of target zones; the availability of skilled labour and no labour related disruptions at any of the Company's operations; no unplanned delays or interruptions in scheduled activities; all necessary permits, licenses and regulatory approvals for operations are received in a timely manner; the ability to secure and maintain title and ownership to properties and the surface rights necessary for operations; and the Company's ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.

The Company cautions the reader that forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data; general market and industry conditions; and those factors identified under the caption "Risks Factors" in the Company's most recent Annual Information Form.

Forward-Looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For Further Information, Contact:

Andrew Pollard
President and Chief Executive Officer
(604) 817-6044
info@blackrocksilver.com

News Provided by Newsfile via QuoteMedia

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Anfield Energy Inc.	(OTCQB: ANLDF \| TSXV: AEC)
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Novo Resources Corp.	(OTCQB: NSRPF \| TSX: NVO)
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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)

Sample Number	Easting (NAD83-8N)	Northing (NAD83-8N)	Sample Type	Au g/t	Ag g/t	Cu ppm	As ppm	Sb ppm	Bi ppm
C959829	380510	6714755	Grab	0.50	1.26	153	9,030	94.4	8.57
C959830	380508	6914767	Grab	1.68	8.99	212	>10,000	153	68.3
C959831	380515	6914772	30cm Chip	5.95	7.17	161	>10,000	38.8	49.6

Hole-ID	Easting (NAD83-8N)	Northing (NAD83-8N)	Elevation m	Depth m	Azimuth	Dip
N21-01	379458	6913364	852	306.32	35	-60
N21-02	379120	6913528	951	449.58	30	-60
N21-03	379162	6913073	895	320.43	210	-60
N21-04	379162	6913073	895	295.66	30	-60
N21-05	378859	6913336	974	288.04	220	-60
N21-06	378859	6913336	974	316.99	40	-60
N21-07	379111	6914021	1003	312.42	70	-70
N21-08	379566	6914430	902	327.5	60	-60
N21-09	379666	6914527	860	215.49	45	-70
N21-10	379525	6914090	906	257.86	210	-70
N21-11	379620	6914482	880	232.56	340	-60
O21-01	380343	6912498	812	242.32	220	-50

Hole-ID	From m	To m	Interval m	AuEq 1750	Au g/t	Ag g/t	Cu %
N21-01	21	38.5	17.5	0.45	0.33	1.39	0.07
N21-01	57	84.25	27.25	0.75	0.60	1.65	0.08
Including	67	84.25	17.25	1.02	0.85	1.72	0.09
N21-01	218	224.7	6.73	0.29	0.11	1.20	0.11
N21-01	268	272.5	4.5	0.52	0.24	1.72	0.16
N21-02	15.24	46.5	31.26	0.76	0.71	0.67	0.02
Including	28.5	33	4.5	2.10	2.00	1.57	0.05
N21-02	61.5	65.45	3.95	1.30	1.08	2.20	0.12
Including	61.5	65.45	3.95	1.30	1.08	2.20	0.12
N21-02	114.08	119.5	5.37	0.79	0.74	0.39	0.03
N21-02	223.41	236.7	13.29	1.17	0.90	2.24	0.16
Including	228.8	236.7	7.9	1.58	1.25	3.15	0.19
N21-03	90.1	109	18.9	0.55	0.48	0.54	0.04
Including	90.1	95.5	5.4	1.00	0.93	0.57	0.04
N21-04	135.5	138.5	3	1.24	1.18	0.25	0.03
N21-06	276.38	280.1	3.73	1.22	0.87	1.85	0.21
N21-07	75	82	7	0.46	0.43	0.59	0.01
N21-08	70	86.5	16.5	0.66	0.66	0.25	0.00
Including	70	82	12	0.71	0.70	0.25	0.00
N21-09	85.5	88.5	3	0.89	0.87	0.25	0.01
N21-09	153	163	10	0.46	0.33	0.25	0.08
N21-10	4	13	9	0.41	0.36	0.87	0.02
N21-10	54	63	9	0.71	0.65	0.69	0.03
N21-11	31.6	51.6	20	0.96	0.92	1.46	0.01
Including	31.6	41	9.4	1.41	1.36	2.25	0.01
N21-11	194	198	4	0.55	0.42	1.05	0.07
O21-01	94.5	98.3	3.8	0.68	0.47	1.22	0.12
O21-01	141	146.4	5.43	0.69	0.56	0.69	0.08

⁽¹⁾		The term "managed operations" refers to subsidiaries managed by AngloGold Ashanti and included in its consolidated reporting, while the term "non-managed joint ventures" (i.e., Kibali) refers to equity-accounted joint ventures that are reported based on AngloGold Ashanti's share of attributable earnings and are not managed by AngloGold Ashanti.

		Managed operations are reported on a consolidated basis. Non-managed joint ventures are reported on an attributable basis.

⁽²⁾		On 22 November 2024, the acquisition of Centamin plc ("Centamin") was successfully completed. Centamin has been included from the effective date of the acquisition.

⁽³⁾		Includes gold concentrate from the Cuiabá mine sold to third parties in Q1 2024.

⁽⁴⁾		The financial measures "headline earnings (loss)" and "headline earnings (loss) per share" are not calculated in accordance with IFRS® Accounting Standards, but in accordance with the Headline Earnings Circular 1/2023, issued by the South African Institute of Chartered Accountants (SAICA), at the request of the Johannesburg Stock Exchange Limited (JSE). These measures are required to be disclosed by the JSE Listings Requirements and therefore do not constitute Non-GAAP financial measures for purposes of the rules and regulations of the US Securities and Exchange Commission ("SEC") applicable to the use and disclosure of Non-GAAP financial measures.

⁽⁵⁾		The Company is not providing quantitative reconciliations to the most directly comparable IFRS measures for its Non-GAAP financial guidance shown above in reliance on the exception provided by Rule 100(a)(2) of Regulation G because the reconciliations cannot be performed without unreasonable efforts as such IFRS measures cannot be reliably estimated due to their dependence on future uncertainties and adjusting items, including, among other factors, changes in economic, social, political and market conditions, including related to inflation or international conflicts, the success of business and operating initiatives, changes in the regulatory environment and other government actions, including environmental approvals, fluctuations in gold prices and exchange rates, the outcome of pending or future litigation proceedings, any supply chain disruptions, any public health crises, pandemics or epidemics (including the COVID-19 pandemic), and other business and operational risks and challenges and other factors, including mining accidents, that the Company cannot reasonably predict at this time but which may be material. Outlook economic assumptions for 2025 guidance are as follows: $0.65/A$, BRL5.88/$, AP1,099/$, ZAR18.00/$ and Brent $75/bbl.

		Cost and capital forecast ranges for 2025 are expressed in "nominal" terms. "Nominal" cash flows are current price term cash flows that have been inflated into future value, using an appropriate "inflation" rate. Estimates assume neither operational or labour interruptions or power disruptions, nor further changes to asset portfolio and/or operating mines and have not been reviewed by AngloGold Ashanti's external auditors. Other unknown or unpredictable factors, or factors outside the Company's control, including inflationary pressures on its cost base, could also have material adverse effects on AngloGold Ashanti's future results and no assurance can be given that any expectations expressed by AngloGold Ashanti will prove to have been correct. Measures taken at AngloGold Ashanti's operations together with AngloGold Ashanti's business continuity plans aim to enable its operations to deliver in line with its production targets. Actual results could differ from guidance and any deviations may be significant. Please refer to the Risk Factors section in AngloGold Ashanti's annual report on Form 20-F for the financial year ended 31 December 2024 filed with the SEC.

⁽⁶⁾		To enhance comparability with industry peers, AngloGold Ashanti has revised its definition of free cash flow, which is a Non-GAAP financial measure. Pursuant to its revised definition, free cash flow is calculated as operating cash flow less capital expenditure. Operating cash flow is defined as net cash flow from operating activities, plus repayment of loans advanced to joint ventures, less dividends paid to non-controlling interests (e.g., dividends paid to non-controlling interests in Sukari (50%), Siguiri (15%) and Cerro Vanguardia (7.5%)). Free cash flow* figures for prior periods (including Q1 2024) have been adjusted to reflect this change in reporting.

*		Refer to "Non-GAAP disclosure" in the Full Announcement for definitions and reconciliations.

Key Statistics		Quarter	Quarter
		ended	ended
		Mar	Mar
US Dollar million, except as otherwise noted		2025	2024
Operating review
Gold
Produced - Group ^(1)(2)(3)	- oz (000)	720	591
Produced - Managed operations ^(1)(2)(3)	- oz (000)	657	515
Produced - Non-managed joint ventures ⁽¹⁾	- oz (000)	63	76

Sold - Group ^(1)(2)(3)	- oz (000)	737	625
Sold - Managed operations ^(1)(2)(3)	- oz (000)	670	552
Sold - Non-managed joint ventures ⁽¹⁾	- oz (000)	67	73

Financial review
Gold income	- $m	1,927	1,138
Cost of sales - Group	- $m	1,230	949
Cost of sales - Managed operations	- $m	1,124	869
Cost of sales - Non-managed joint ventures	- $m	106	80
Total operating costs	- $m	833	668
Gross profit	- $m	839	302

Average gold price received per ounce* - Group ⁽¹⁾⁽²⁾	- $/oz	2,874	2,063
Average gold price received per ounce* - Managed operations ⁽¹⁾⁽²⁾	- $/oz	2,875	2,060
Average gold price received per ounce* - Non-managed joint ventures ⁽¹⁾	- $/oz	2,865	2,090
All-in sustaining costs per ounce* - Group ⁽¹⁾⁽²⁾	- $/oz	1,640	1,620
All-in sustaining costs per ounce* - Managed operations ⁽¹⁾⁽²⁾	- $/oz	1,657	1,692
All-in sustaining costs per ounce* - Non-managed joint ventures ⁽¹⁾	- $/oz	1,463	1,070
Total cash costs per ounce* - Group ⁽¹⁾⁽²⁾	- $/oz	1,223	1,181
Total cash costs per ounce* - Managed operations ⁽¹⁾⁽²⁾	- $/oz	1,213	1,232
Total cash costs per ounce* - Non-managed joint ventures ⁽¹⁾	- $/oz	1,325	831

Profit before taxation	- $m	729	167
Adjusted EBITDA*	- $m	1,120	434
Total borrowings	- $m	2,213	2,170
Adjusted net debt*	- $m	525	1,322

Profit attributable to equity shareholders	- $m	443	58
	- US cents/share	88	14
Headline earnings ⁽⁴⁾	- $m	447	58
	- US cents/share	88	14
Net cash inflow from operating activities	- $m	725	252
Free cash flow* ⁽⁵⁾	- $m	403	57
Capital expenditure - Group ⁽¹⁾⁽²⁾	- $m	336	265
Capital expenditure - Managed operations ⁽¹⁾⁽²⁾	- $m	303	240
Capital expenditure - Non-managed joint ventures ⁽¹⁾	- $m	33	25


⁽¹⁾ The term "managed operations" refers to subsidiaries managed by AngloGold Ashanti and included in its consolidated reporting, while the term "non-managed joint ventures" (i.e., Kibali) refers to equity-accounted joint ventures that are reported based on AngloGold Ashanti's share of attributable earnings and are not managed by AngloGold Ashanti. Managed operations are reported on a consolidated basis. Non-managed joint ventures are reported on an attributable basis.
⁽²⁾ On 22 November 2024, the acquisition of Centamin was successfully completed. Centamin has been included from the effective date of the acquisition.
⁽³⁾ Includes gold concentrate from the Cuiabá mine sold to third parties in Q1 2024.
⁽⁴⁾ The financial measures "headline earnings (loss)" and "headline earnings (loss) per share" are not calculated in accordance with IFRS ^® Accounting Standards, but in accordance with the Headline Earnings Circular 1/2023, issued by the South African Institute of Chartered Accountants (SAICA), at the request of the Johannesburg Stock Exchange Limited (JSE). These measures are required to be disclosed by the JSE Listings Requirements and therefore do not constitute Non-GAAP financial measures for purposes of the rules and regulations of the US Securities and Exchange Commission ("SEC") applicable to the use and disclosure of Non-GAAP financial measures.
⁽⁵⁾ To enhance comparability with industry peers, AngloGold Ashanti has revised its definition of free cash flow, which is a Non-GAAP financial measure. Pursuant to its revised definition, free cash flow is calculated as operating cash flow less capital expenditure. Operating cash flow is defined as net cash flow from operating activities, plus repayment of loans advanced to joint ventures, less dividends paid to non-controlling interests (e.g., dividends paid to non-controlling interests in Sukari (50%), Siguiri (15%) and Cerro Vanguardia (7.5%)). Free cash flow* figures for prior periods (including Q1 2024) have been adjusted to reflect this change in reporting.
* Refer to "Non-GAAP disclosure" in the Full Announcement for definitions and reconciliations.
$ represents US Dollar, unless otherwise stated.
Rounding of figures may result in computational discrepancies.

2025
Ex-dividend on NYSE		Friday, 30 May
Record date		Friday, 30 May
Payment date		Friday, 13 June

2025
Declaration date		Friday, 9 May
Currency conversion rate for South African rands announcement date		Friday, 23 May
Last date to trade ordinary shares cum dividend		Tuesday, 27 May
Ordinary shares trade ex-dividend		Wednesday, 28 May
Record date		Friday, 30 May
Payment date		Friday, 13 June

2025
Currency conversion date		Friday, 23 May
Last date to trade and to register shares cum dividend		Tuesday, 27 May
Shares trade ex-dividend		Wednesday, 28 May
Record date		Friday, 30 May
Approximate payment date of dividend		Friday, 13 June

CLEARY ZONE - Drilled 70m SW of GS2421
Hole	Depth	Dip	Azimuth	From	To	Interval	Au
Number	Depth	Dip	Azimuth	(m)	(m)	(m)	g/t
GS2434	550.8	-90	0	319.1	380.1	61	1.84
				410.2	428.9	18.7	1.6
				453	465.4	12.4	1.48

DOLPHIN ZONE
Hole	Depth	Dip	Azimuth	From	To	Interval	Au
Number	Depth	Dip	Azimuth	(m)	(m)	(m)	g/t
GS2432	788.2	-70	0	138	141.1	3.1	13.3
				188.1	616.6	428.5	0.9
incl				363.3	616.6	253.3	1.17
incl				363.3	407.8	44.5	1.32
incl				486.5	504.7	18.2	6.82
GS2436	652.9	-90	0	121	132.9	11.9	1.6
				256.9	275.2	18.3	0.99
				410.6	440.7	30.1	1.08
				508.1	646.8	138.7	0.9

WOW ZONE
Hole	Depth	Dip	Azimuth	From	To	Interval	Au	Au
Number	Depth	Dip	Azimuth	(m)	(m)	(m)	g/t	Cut to 90g/t
GS2430	639.2	-90	0	121.9	123.7	1.8	23.1
				270.4	316.1	45.7	0.62
				434.9	461.5	26.6	0.66
				491	501.7	10.7	1.79
GS2431	623	-85	0	111.3	120.8	9.5	2.81
				209	238.1	29.1	1.08
				263	289.9	26.9	0.6
				323	350	27	1.94
				407	518	111	1.73
incl				407	439.8	32.8	2.95
incl				430.5	433.6	3.1	22.0
incl				497	518	21	3.49
incl				512	515	3	19.3
				548	561.1	13.1	0.78
GS2433	654	-90	0	482.2	508.8	26.6	0.82
				523.8	530.1	6.3	4.19
GS2435	653	-85	0	98	155	57	1.07
				196.5	215	18.5	1.17
				254	470	216	1.01
incl				254	317	63	1.43
				558.5	559.8	1.3	20.4

Hole	Depth	Dip	Azimuth	From	To	Interval	Au	Au
Number				(m)	(m)	(m)	g/t	Cut to 90g/t
GS2437	609	-85	0	69.8	102	32.2	0.85
				268.8	293.8	25	1.39
				326.6	344.4	17.8	1.37
				396	416.6	20.6	6.84	5.85
incl				398.6	399.4	0.8	115.5
				498	501	3	43.8

RUA GOLD Reports Significant Gold-Antimony Intercepts from Its Reefton Project

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