Mr. Robert Eckford reports

RUA GOLD FILES 43-101 TECHNICAL REPORTS FOR THE REEFTON AND GLAMORGAN PROJECTS IN NEW ZEALAND

Rua Gold Inc. has filed on SEDAR+ independent technical reports for its Reefton project on the South Island and Glamorgan project on the North Island of New Zealand.

Highlights:

• The updated resource profile demonstrates increases in all four MRE (mineral resource estimate) prospects.
• The updated Auld Creek MRE includes an indicated mineral resource of 300,000 tonnes (t) at 3.18 grams per tonne (g/t) gold (Au) and 12 per cent antimony (Sb), containing 31,000 ounces (oz) of gold and 3,000 t antimony (54,000 oz gold equivalent (AuEq) (2). Also, an inferred resource of 1.25 million t at 2.0 g/t Au and 0.8 per cent Sb, containing 79,000 oz of Au and 10,000 t of Sb (148,000 oz AuEq (2)).
• Nineteen thousand metres of drilling in the next seven months is focused on expanding the MRE northward and at depth.
• The company is currently undertaking planning, environmental and social studies to support a fast-track referral application in the first quarter of 2026.
• Rua Gold will be undertaking a preliminary economic assessment (PEA) study during the first half of 2026 precursor to a prefeasibility study (PFS) in the second half of the year.

The MRE for the Reefton project included in the Reefton technical report provides a strong starter resource to initiate the mine permitting process in New Zealand via the fast-track (1) process on its Auld Creek target while providing the foundation for technical and economic studies. An aggressive 19,000-metre drill program is under way with four drill rigs in operation from March 2, 2026.

The reports, titled "Technical Report on the Reefton Project, New Zealand, Report for NI 43-101 on the Reefton Project, New Zealand" and "Technical Report on the Glamorgan Project, Report for NI-43-101 on the Glamorgan Project, New Zealand," respectively, with effective dates of Feb. 27, 2026, are available on SEDAR+ under the company's profile on SEDAR+ and on the company's website. Each report was prepared by RSC Consulting Ltd. and written by Abraham Whaanga, BSc, MAusIMM (CP), of RSC, a qualified person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects. RSC and Mr. Whaanga are independent of the company, as determined in accordance with NI 43-101.

The company's chief operating officer, Simon Henderson, said: "Since November, 2024, drilling has prioritized the Auld Creek gold-antimony project to advance one project toward a mine development phase. With gold-antimony mineralization outcropping at surface, and continuing unconstrained at depth and along strike northward, Auld Creek presents a compelling opportunity to establish a central processing hub for high-grade gold and gold-antimony projects within a 30-kilometre range.

"The 19,000 m drill program and additional regional projects at Alexander, Big River, Golden Treasure and Fiery Cross to be tested in the 2026 year provide both resources and excitement in the exploration team to revitalize the Reefton gold district."

Auld Creek 2026 drill program

Following the well supported financing in January, 2026, an expanded drill program was launched at Auld Creek, targeting stepout drilling and resource expansion. Nineteen thousand metres of planned drilling is under way across 10 drill pads, with the goals of infilling and increasing confidence in the current inferred resource, and extending the current resource, which remains open 400 metres to the north and unconstrained at depth.

The 19,000 metres of drilling will provide detail for the prefeasibility study (PFS) that is planned for H2 (second half) 2026 ahead of the anticipated mine permit application.

Preliminary economic assessment study partners confirmed

The company is currently undertaking permitting activities to support a fast-track referral application in the first quarter of 2026; in parallel, Rua Gold will be undertaking a PEA study during the first half of 2026 ahead of advancing the study to PFS level in the second half of the year.

The following consultant partners have been awarded work packages.

Processing and tailings

Engineering consultancy Pitch Black Group has been engaged to advise on advancing metallurgical testwork and processing studies for the Auld Creek project, including:

• Independent review and optimization of metallurgical testwork;
• Assessment of mineral concentrate options;
• Development of a scoping-level flowsheet;
• Tailings and waste rock study in partnership with tailings and infrastructure specialist Knight Piesold.

Pitch Black Group has extensive global expertise in processing flowsheet development, including for gold and antimony deposits such as Auld Creek.

Underground mining studies

Global mining consultancy Mining One has been engaged to undertake underground mining study with scope covering:

• Advancing the mine concept design to PEA level;
• Development of high-level mine plan;
• Entry, ventilation, surface haul roads and stockpile overview.

Mining One will be working on the underground studies closely with Reefton-based Terra Firma Mining, which will support with local mining context, health and safety, and operationalizing the company's early mine plan.

The company's vice-president, Simon Delander, said: "Rua Gold is pleased to be able to engage such highly regarded and professional study partners who have strong New Zealand and international experience in designing similar projects. We look forward to advancing Auld Creek to the next stage."

About Rua Gold Inc.

Rua Gold is an exploration company, strategically focused on New Zealand. With decades of expertise, the company's 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 two million oz of gold grading between nine and 50 grams per tonne (g/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 15 million oz of gold and 60 million oz of silver. Glamorgan is adjacent to OceanaGold Corp.'s biggest gold mining development project, Wharekirauponga, which is now fully permitted and under construction.

Technical information

Simon Henderson, CP, AUSIMM, a qualified person under National Instrument 43-101, 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 herein, including sampling, analytical and test data underlying the information or opinions contained herein, by running checks on the location, analytical and test data underlying the information or opinions in the technical disclosure herein. Limitations on the underlying data are described in the Reefton technical report and such data were independently verified by Abraham Whaanga, BSc, MAusIMM (CP) of RSC. Mr. Henderson has participated in the geochemical sampling and mapping programs to verify that they have been conducted in accordance with standard operating procedures, and has reviewed the drilling results and procedures undertaken for quality assurance and quality control in a manner consistent with industry practice, and all matters were consistent and accurate according to his professional judgement.

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