RUA.TO · 2024-03-14 12:00:00

RUA GOLD Provides an Update on the 2024 Exploration Program for its New Zealand Gold Projects

Exploration Programs

RUA GOLD Provides an Update on the 2024

Exploration Program for its New Zealand Gold

Projects

VANCOUVER, BC

March 14, 2024

/CNW/ - RUA GOLD Corporation (the "Company" or "RUA

GOLD") is a new gold exploration company operating in two historic gold districts in

New Zealand

The Company commenced trading on the Canadian Securities Exchange ("CSE") on

March 4, 2024

under the symbol "RUA".

More information can be found at the Company's website:

www.ruagold.com

Highlights:

RUA GOLD launched a well-funded gold explorer focused on two prolific, historic gold-

producing regions in

New Zealand

. Drilling is already ongoing at the Company properties in the

Reefton district.

New Zealand

is a tier 1 jurisdiction, with attractive geology, a long history of mining, an incoming

government focused on local economic development and an experienced workforce.

The Company is supported by a well-seasoned Board of Directors led by Oliver Lennox-King

(Fronteer, Roxgold) with diverse experience and a successful track record of developing

projects and companies.

Following three years of methodical reconnaissance, mapping and sampling, RUA GOLD is

launching a fully funded exploration program across its two properties in

New Zealand

The Reefton district

has a

$2.5 million

exploration program underway.

The Reefton Orogenic district produced 2Moz of gold at 24.5g/t up to the early 1900s; the

RUA GOLD properties have seen limited drilling in the last 30 years.

Latest drill campaign of

2,500m

of planned diamond drilling focused on the Pactolus

prospect; a greenfield discovery 1km east of any historical mining.

Channel sampling of the Pactolus discovery outcrop assayed 16.4g/t gold over

including highlights of 32, 34g/t gold over

intervals.

Drill holes from the 2022/2023 campaign at Pactolus were highlighted by DD_PAC_004

reporting 9.41g/t gold over

12m

(see Table below).

Analogous in age, geology, mineralization style, and geological structure to the

Fosterville

gold mine.

Additional targets are currently being modelled and surveyed at RUA GOLD's Reefton

assets, including historically producing targets in the Capleston area which produced 89Koz

of gold at 61.4g/t.

Glamorgan

on the North Island is an exciting new epithermal gold target

RUA GOLD has applied for minimum impact access agreement and drilling access

agreement(s) for its on-ground exploration

The Company's tenement is neighboring OceanaGold's' Wharekirauponga gold project.

OceanaGold recently announced its intention to accelerate development of its Waihi North

Project, including the Wharekirauponga gold deposit.

RUA GOLD's Chief Operating Officer had previously joint-ventured the Wharekirauponga

project to OceanaGold and was a member of the exploration team that led to its discovery.

Figure 1: RUA GOLD’s New Zealand Exploration Portfolio (CNW Group/RUAGOLD)

Figure 2: 2022 Pactolus Surface Discovery (CNW Group/RUAGOLD)

Figure 3: Glamorgan Targets (CNW Group/RUAGOLD)

Reefton district highlights

The Reefton district comprises a contiguous group of two exploration permits and one prospecting

permit, with a combined area of over 56,000 hectares, covering ~50% of the historic Reefton district

on the west coast of

New Zealand's

South Island.

In the past three years of exploration, RUA GOLD has mapped the historic mines and made a

promising new discovery, the Pactolus vein, which is the initial target for drilling.

Over 16,000 soil samples collected and analyzed – the most comprehensive geochemical

dataset in the region.

Detailed geological mapping and UAV Magnetics have defined exciting targets for the 2024

exploration program.

To the end of 2023, the Company has drilled 26 holes at Pactolus totaling

4,377m

, with

highlights shown in the significant intercepts table in the Company's technical report available on

the RUA GOLD website and filed on SEDAR+ under the RUA GOLD profile.

Table 10–3: Significant intercepts for Pactolus Phase 1 and 2, calculated with a 1.5g/t Au cut-

off and up to 2-m internal dilution.

Hole ID

From (m)

To (m)

Interval (m)

Au (g/t)

DD_PAC_001

132.5

135

2.5

4.75

DD_PAC_002

133

138

6.28

DD_PAC_004

183

195

9.41

DD_PAC_005

218

223

2.24

DD_PAC_005

258

260

5.26

DD_PAC_007

214

219

2.92

DD_PAC_007

244

246

1.71

DD_PAC_009

219

221

4.40

DD_PAC_010

221

225

2.69

DD_PAC_015

3.13

DD_PAC_016

2.77

DD_PAC_018

2.75

DD_PAC_018

3.11

DD_PAC_022

8.20

DD_PAC_025

3.53

The 2024 exploration program is underway including:

2,500 meters planned drilling, commencing on the Pactolus vein;

3D modelling of Capleston and

Murray Creek

to provide further drill targets for Q2 2024; and

continued soil sampling, UAV magnetics and geological mapping of remaining targets.

The geology and mineralization in the Reefton district are analogous to the orogenic Lachlan Fold

belt in

Australia

, which hosts the Bendigo-Ballarat goldfield and the exceptional

Fosterville

gold

deposit. The Reefton district produced over 2 million ounces at an average produced grade of

24.4g/t gold up to the 1950's. The historical workings on the Company's tenements have been

neglected by modern exploration and have not been tested at depth.

Glamorgan highlights

RUA GOLD's Glamorgan project comprises of over 4,600 hectares in the Hauraki district on

New

Zealand's

North Island.

The Company is excited about the potential within this permit where previous exploration outlined a

zone of silicification, veining and alteration with > 50ppb gold in soils over 3.8km in length, and rock

samples in the vicinity have returned up to 95g/t gold. These samples suggest classic features of an

epithermal gold mineralized system are present at the Glamorgan property.

The Company has applied for a Minimum Impact Access Agreement to New Zealand Department of

Conservation ("DoC"); once granted, the Company will commence an exploration program, including:

soil sampling;

magnetic and resistivity geophysical surveys; and

geological mapping.

An application for Drilling Access Agreement has also been submitted and is expected to be granted

later in 2024.

Glamorgan is located 2.8km north of OceanaGold's recent significant discovery at

Wharekirauponga. As of

March 31, 2022

, the WKP epithermal gold deposit contained an Indicated

Resource of 1.69Mt at 12.3g/t gold for 0.66Moz gold and Inferred Resources of 2.6Mt at 7.8g/t gold

for 0.64Moz gold

______________________________

See OceanaGold's R & R Annual Statement, March 31, 2022

About RUA GOLD

RUA GOLD (RUA.CSE) is a new entrant to the mining industry, specializing in gold exploration and

discovery in

New Zealand

. With permits that have a rich history dating back to the gold rush in the

late 1800's, RUA GOLD combines traditional prospecting practices with modern technologies to

uncover and capitalize on valuable gold deposits.

The Company is committed to responsible and sustainable exploration, which is evident in its

professional planning and execution. The Company aims to minimize its environmental impact and to

execute on its projects with key stakeholders in mind. RUA GOLD has a highly skilled team of

New

Zealand

professionals who possess extensive knowledge and experience in geology, geochemistry,

and geophysical exploration technology.

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

www.sedarplus.ca

Technical Information

Simon Henderson CP, AUSIMM, a qualified person under National Instrument 43-101

Standards of

Disclosure for Mineral Projects

, has reviewed and approved the technical disclosure contained

herein.

This news release includes certain statements that may be deemed "forward-looking statements".

All statements in this new release, other than statements of historical facts, that address events or

developments that the Company expects to occur, are forward-looking statements. Forward-looking

statements are statements that are not historical facts and are generally, but not always, identified

by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects",

"potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or

"should" occur and specifically include statements regarding: the Company's strategies,

expectations, planned operations or future actions, including but not limited to exploration programs

at its Reefton and Glamorgan projects; and the Company's expected receipt of permits or other

regulatory approvals. Although the Company believes the expectations expressed in such forward-

looking statements are based on reasonable assumptions, such statements are not guarantees of

future performance and actual results may differ materially from those in the forward-looking

statements.

Investors are cautioned that any such forward-looking statements are not guarantees of future

performance and actual results or developments may differ materially from those projected in the

forward-looking statements. A variety of inherent risks, uncertainties and factors, many of which are

beyond the Company's control, affect the operations, performance and results of the Company and

its business, and could cause actual events or results to differ materially from estimated or

anticipated events or results expressed or implied by forward looking statements. Some of these

risks, uncertainties and factors include: general business, economic, competitive, political and social

uncertainties; risks related to the effects of the

Russia

Ukraine

war; risks related to climate change;

operational risks in exploration, delays or changes in plans with respect to exploration projects or

capital expenditures; the actual results of current exploration activities; conclusions of economic

evaluations; changes in project parameters as plans continue to be refined; changes in labour costs

and other costs and expenses or equipment or processes to operate as anticipated, accidents,

labour disputes and other risks of the mining industry, including but not limited to environmental

hazards, flooding or unfavourable operating conditions and losses, insurrection or war, delays in

obtaining governmental approvals or financing, and commodity prices. This list is not exhaustive of

the factors that may affect any of the Company's forward-looking statements and reference should

also be made to the Company's 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.

SOURCE

RUAGOLD

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/March2024/14/c9310.html

%SEDAR: 00046287E

For further information:

RUA GOLD Contact: Robert Eckford, Chief Executive Officer, Tel: +1 604

655 7354, Email: [email protected], Website: www.RUAGOLD.com

CO: RUAGOLD

CNW 04:00e 14-MAR-24

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