Rupert Resources Reports Results From Project Drilling Including 120m at 6.2g/t Gold

TORONTO — Rupert Resources Ltd. (“Rupert” or the “Company”) stories assay outcomes from mission drilling at Ikkari (Figure 1). The drilling, principally for metallurgical sampling produced a few of the finest intercepts achieved to this point at Ikkari (Tables 1 & 2).

Highlights

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Ikkari

#124043 intersected 120m at 6.2g/t Au from 45m downhole (36m vertical), the third-best intercept achieved to this point at Ikkari with 748 gram x meters (see Table 1 for particulars). Additional intercepts of 22m at 2.9g/t Au from 16m downhole (13m vertical), 5m at 4.5g/t Au and 56m at 3.5g/t Au (Figure 2) mix to make this the second highest yielding drillhole of all time at Ikkari with 1028 gram x meters (see Table 2 for particulars).
#124041 intersected 28m at 9.7g/t Au from 101m and 13m at 34.5g/t Au from 161m together with 1m at 294g/t Au (Figure 3). Combined intercepts in #124041 yield 737gram x meters additionally within the high 10 yielding drillholes of all time at Ikkari.
#124040 and #124047 additionally delivered broad, repeatedly mineralised intersections typical of the Ikkari deposit. #124040 intersected 121.2m at 2.5g/t Au from 52m downhole and #124047 intersected 167.8m at 2.6g/t Au from 17.2m (the bottom of the overburden).

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James Withall, CEO of Rupert Resources commented “The project drilling results reported from Ikkari today confirm the robustness of the Ikkari mineral resource with exceptionally continuous high-grade mineralisation near surface that will conceptually be captured in a low strip ratio, open pit in the early years of operations. The PFS engineering is progressing well on the existing resource and is building on the scope outlined in the November 2022 PEA. We continue to evaluate other opportunities which will only be pursued if they meet our long standing corporate objectives and build meaningful shareholder value.”

Table 1. Top 10 intercepts from Ikkari

Hole ID	From (m)	To (m)	Length (m)	Grade (g/t Au)	Gram x Meters	Release Date
121026	58.00	258.00	200.00	4.2	840	April 20, 2021
121160	153.00	258.00	105.00	7.9	824	February 1, 2022
124043	45.00	165.00	120.00	6.2	748	*New
121010	254.00	412.00	158.00	3.8	593	March 17, 2021
121019	202.00	294.00	92.00	6.3	579	April 6, 2021
120075	11.80	169.00	157.20	3.7	574	October 21, 2020
121169	185.00	300.00	115.00	4.9	567	March 16, 2022
121171	32.00	193.00	161.00	3.4	541	March 16, 2022
120086	186.00	310.00	124.00	4.2	521	November 12, 2020
120069	19.80	191.00	171.20	3.0	514	September 15, 2020

Top 10 intercepts from Ikkari are ranked by gram-meters (common grade [Au g/t] x size [m]). Intercepts are calculated with a 0.4g/t Au cut-off with a most 5m steady inside dilution accepted. See related press releases for additional info.

Table 2. Top 10 yielding holes from Ikkari

Hole ID	Length (m)	Grade (g/t Au)	Gram x Meters	Release Date
121160	213.00	5.0	1058	February 1, 2022
124043	197.00	5.2	1028	*New
121026	307.00	3.2	990	April 20, 2021
121070	176.70	4.8	841	September 13, 2021
120086	180.00	4.6	822	November 12, 2020
120075	290.20	2.7	775	October 21, 2020
124041	66.00	11.2	737	*New
121019	156.00	4.7	734	April 6, 2021
120071	196.00	3.7	721	October 1, 2020
121025	288.00	2.5	713	June 16, 2021

Top-10 all time yielding holes from Ikkari are ranked by gram-meters (common grade [Au g/t] x size [m]). Individual intercepts are calculated with a 0.4g/t Au cut-off with a most 5m steady inside dilution accepted, minimal yield per intercept is 1 gram-meter. The “yield” is the sum of all intercepts inside every drillhole. See related press releases for additional info.

Ikkari

A mission drilling program was initiated at Ikkari throughout spring 2024 serving a number of functions: growing confidence within the ~4Moz Indicated Mineral Resource Estimate (see press launch 28^th November 2023); offering further materials for metallurgical check work feeding into future, extra superior engineering research and offering additional geotechnical information for the optimisation of mine planning. Results from the second tranche of holes inside this program are introduced right here and embrace a few of the finest intercepts achieved to this point in Ikkari with broad high-grade zones achieved in all drill holes. Table 5 particulars the primary interval in gap #124043. Project engineering and allowing continues with a prefeasibility research now focused for supply within the second half of calendar 2024.

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Geological interpretation of Ikkari

Ikkari was found utilizing systematic regional exploration that originally targeted on geochemical sampling of the bedrock/until interface via glacial until deposits of 5m to 40m thickness. No outcrop is current, and topography is dominated by low-lying swamp areas.

The Ikkari deposit happens inside rocks which have been regionally mapped as 2.05-2.15 billion years (“Ga”) previous Savukoski group greenschist-metamorphosed mafic-ultramafic volcanic rocks, a part of the Central Lapland Greenstone Belt (“CLGB”). Gold mineralisation is basically confined to the structurally modified unconformity at a big area boundary. Younger sedimentary lithologies are complexly interleaved, with intensely altered ultramafic rocks, and the mineralized zone is bounded to the north by a steeply N-dipping cataclastic zone. Within the mineralised zone lithologies, alteration and construction seem like sub-vertical in distinction to wider Area 1 the place lithologies typically dipping at a moderated angle to the north.

The most important mineralized zone is strongly altered and characterised by intense veining and foliation that pervasively overprints authentic textures. An early part of finely laminated gray ankerite/dolomite veins is overprinted by stockwork-like irregular siderite ± quartz ± chlorite ± sulphide veins. These vein arrays are sometimes deformed with shear-related boudinage and in situ brecciation. Magnetite and/or haematite are frequent, in affiliation with pyrite. Hydrothermal alteration generally contains quartz-dolomite-chlorite-magnetite (±haematite). Gold is hosted by disseminated and vein-related pyrite. Multi-phase breccias are properly developed throughout the mineralised zone, with early silicified cataclastic phases overprinted by late, carbonate- iron-oxide- wealthy, hydrothermal breccias which show a subvertical management. All breccias steadily host disseminated pyrite, and are sometimes related to larger gold grades, notably the place magnetite or haematite is prevalent. In the sedimentary lithologies, albite alteration is intense and pervasive, with pyrite-magnetite (± gold) hosted in veinlets in brittle fracture zones.

Fi gures & tables

Figures and tables featured within the Appendix at finish of launch embrace:

Figure 1. Plan map exhibiting the situation of latest drilling at Ikkari.
Figure 2. Cross part exhibiting the outcomes of gap 124043 in relation to the mineral useful resource block mannequin and the geological interpretation at Ikkari.
Figure 3. Cross part exhibiting the outcomes of gap 124041 in relation to the mineral useful resource block mannequin and the geological interpretation at Ikkari.

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Table 3. Collar places of the brand new drill holes, Ikkari
Table 4. New Intercepts from Infill Drill Holes, Ikkari
Table 5. Individual assays from uncut mineralised intercept of 6.0g/t Au over 120m in drill gap 124043

Review by Qualified Person, Quality Control and Reports

Craig Hartshorne, a Chartered Geologist and a Fellow of the Geological Society of London, is the Qualified Person, as outlined by National Instrument 43-101, liable for the accuracy of scientific and technical info on this information launch.

The majority of samples are ready by ALS Finland in both Sodankylä or Outokumpu. Fire assays are subsequently accomplished at ALS Romania while multielement evaluation is accomplished in ALS Ireland or Sweden. A minority of samples are ready by Eurofins Laboratory in Sodankylä and Fire Assay is carried out on website. A pulverised sub-sample is then despatched to ALS Ireland for multi-element evaluation. All samples are underneath watch from the drill website to the storage facility. Samples at each laboratories are assayed utilizing 50g fireplace assay technique with aqua regia digest and evaluation by AAS for gold. Over restrict evaluation (>100 ppm Au) are carried out utilizing fireplace assay and gravimetric end. For multi-element assays, Ultra Trace Level Method by 4-Acid digest (HF-HNO3-HClO4 acid digestion, HCl leach) and a mixture of ICP-MS and ICP-AES are used. The Company’s QA/QC program contains the common insertion of blanks and requirements into the pattern shipments, in addition to directions for duplication. Standards, blanks and duplicates are inserted at acceptable intervals. Approximately 5 % (5%) of samples have the pulp reject resubmitted for test assaying at a second laboratory.

Base of until samples are ready in ALS Sodankylä by dry-sieving technique prep-41 and assayed for gold by fireplace assay with ICP-AES end. Multi-elements are assayed in ALS laboratories in both of Ireland, Romania or Sweden by aqua regia with ICP-MS end. Rupert maintains a strict chain of custody process to handle the dealing with of all samples. The Company’s QA/QC program contains the common insertion of blanks and requirements into the pattern shipments, in addition to directions for duplication and exterior test assays.

About Rupert Resources

Rupert Resources is a gold exploration and improvement firm listed on the TSX Exchange underneath the image “RUP.” The Company is targeted on making and advancing discoveries of scale and high quality with excessive margin and low environmental impression potential. The Company’s principal focus is Ikkari¹, a brand new top quality gold discovery in Northern Finland. Ikkari is a part of the Company’s “Rupert Lapland Project,” which additionally contains the Pahtavaara gold mine, mill, and exploration permits (“Pahtavaara”).

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Neither the TSX Exchange nor its Regulation Services Provider (as that time period is outlined within the insurance policies of the TSX Exchange) accepts accountability for the adequacy or accuracy of this launch.

Cautionary Note Regarding Forward Looking Statements

This press launch accommodates statements which, aside from statements of historic truth represent “forward-looking statements” throughout the which means of relevant securities legal guidelines, together with statements with respect to: outcomes of exploration actions and mineral assets. The phrases “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and related expressions, as they relate to the Company, are meant to determine such forward-looking statements. Investors are cautioned that forward-looking statements are primarily based on the opinions, assumptions and estimates of administration thought of cheap on the date the statements are made, and are inherently topic to quite a lot of dangers and uncertainties and different recognized and unknown components that might trigger precise occasions or outcomes to vary materially from these projected within the forward-looking statements. These components embrace the overall dangers of the mining business, in addition to these threat components mentioned or referred to within the Company’s annual Management’s Discussion and Analysis for the 12 months ended February 28, 2023 obtainable right here. Should a number of of those dangers or uncertainties materialize, or ought to assumptions underlying the forward-looking statements show incorrect, precise outcomes could range materially from these described herein as meant, deliberate, anticipated, believed, estimated or anticipated. Although the Company has tried to determine vital components that might trigger precise actions, occasions or outcomes to vary materially from these described in forward-looking info, there could also be different components that trigger actions, occasions or outcomes to not be as anticipated, estimated or meant. There might be no assurance that such info will show to be correct as precise outcomes and future occasions might differ materially from these anticipated in such statements. Any forward-looking assertion speaks solely as of the date on which it’s made and, besides as could also be required by relevant securities legal guidelines, the Company doesn’t intend, and doesn’t assume any obligation to replace any forward-looking assertion, whether or not because of new info, future occasions or outcomes or in any other case.

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¹ November 2023 Updated Mineral Resource Estimate for the Ikkari Project.

The Mineral Resource Estimate for the Ikkari mission has been ready in accordance with NI 43-101 and following the necessities of Form 43-101F1. The methodology used to find out the Mineral Resource Estimate is in keeping with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Estimation of Mineral Resource and Mineral Reserves Best Practices Guidelines (November 2019) and was categorised following CIM Definition Standards for Mineral Resources & Mineral Reserves (May 2014). Readers are cautioned that Mineral Resources should not Mineral Reserves, and don’t reveal financial viability. There is not any certainty that each one, or any half, of this Mineral Resource will likely be transformed into Mineral Reserve. Inferred Mineral Resources are thought of too speculative geologically to have financial issues utilized to them that will allow them to be categorized as Mineral Reserves. Numbers could also be affected by rounding.

The QP for the Ikkari Mineral Resource estimate is Mr. Brian Thomas, P.Geo., an impartial QP, as outlined underneath NI43-101 and an worker of WSP Canada Inc. primarily based in Sudbury, Ontario, Canada.

The efficient date of the 2023 Mineral Resource Estimate for Ikkari is twenty fourth October 2023. The Mineral Resource Estimate at Ikkari is interpolated utilizing Ordinary Kriging (OK) and is reported each inside a Whittle optimized open pit shell and as a possible underground operation exterior that. Underground mineral assets are constrained throughout the estimation domains to satisfy the RPEEE standards for UG mining. The Mineral Resource Estimate at Ikkari is reported utilizing a cutoff grade of 0.4g/t Au for mineralisation doubtlessly mineable by open pit strategies and 0.9g/t Au for mineralisation doubtlessly extractable by underground strategies. The open pit and underground minimize off-grades are calculated utilizing a gold worth at $1700 per ounce; 95% Au Metallurgical restoration; open pit mining prices at $2.9/t; underground mining price at $29/t; course of prices at $11.3/t; G&A, Rehab and Closure $4.8/t and a royalty of 0.75%. The calculated cutoff grade is rounded as much as 0.4g/t for reporting. The calculated underground cutoff grade is rounded as much as 0.9g/t.

APPENDIX

Table 3. Collar places of latest drill holes, Ikkari

Hole ID	Prospect	Easting	Northing	Elevation	Azimuth	Dip	EOH (m)
124040	Ikkari	453943.6	7496702.6	223.5	335.8	-51.9	220.50
124041	Ikkari	454183.9	7496947.4	223.3	151.9	-65.2	191.70
124043	Ikkari	454125.8	7496786.2	223.9	333.8	-51.5	275.70
124047	Ikkari	453968.7	7496748.3	223.4	337.2	-49.6	205.50

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Table 4. New Intercepts from Ikkari

Hole ID		From (m)	To (m)	Interval (m)	Grade Au (g/t)
124040		30.4	32.0	1.6	0.8
		37.30	38.00	1.70	0.6
		45.00	47.00	2.00	0.7
		52.00	173.20	121.20	2.5
	Including	66.00	67.00	1.00	8.3
	and	69.00	70.50	1.50	7.4
	and	78.00	79.00	1.00	5.8
	and	*94.00*	*104.00*	*10.00*	*6.7*
	additionally contains	102.00	103.00	1.00	28.2
	and	108.00	110.00	2.00	11.6
	and	114.00	115.00	1.00	6.1
	and	119.00	123.00	4.00	6.8
	and	126.00	127.00	1.00	6.8
	and	165.00	166.00	1.00	9.3
		191.00	202.00	11.00	1.7
	Including	199.00	200.00	1.00	8.8
124041		77.00	94.00	17.00	0.9
	Including	77.00	78.00	1.00	2.4
	and	90.00	94.00	4.00	2.2
	additionally contains	93.00	94.00	1.00	5.0
		101.00	129.00	28.00	9.7
	Including	105.00	106.00	1.00	22.7
	and	123.00	128.00	5.00	24.2
		161.00	174.00	13.00	34.5
	Including	167.00	168.00	1.00	68.9
	and	168.00	169.00	1.00	294.0
124043		16.00	39.00	22.00	2.9
	Including	21.00	23.00	2.00	5.6
	and	26.00	27.00	1.00	6.3
	and	30.00	31.00	1.00	8.3
	and	35.00	38.00	3.00	6.0
		45.00	165.00	120.00	6.2
	Including	57.00	59.00	2.00	20.1
	and	64.00	65.00	1.00	14.6
	and	72.00	81.00	9.00	14.9
	and	111.00	130.00	19.00	10.0
	and	133.00	134.00	1.00	17.6
	and	146.00	152.00	6.00	11.5
		175.00	180.00	5.00	4.5
	Including	175.00	176.00	1.00	12.3
		197.00	253.00	56.00	3.5
	Including	198.00	199.00	1.00	7.7
	and	206.00	208.00	2.00	10.5
	and	231.00	233.00	2.00	35.3
	and	242.00	244.00	2.00	7.6
	and	248.00	249.00	1.00	7.4
124047		17.20	185.00	167.80	2.6
	Including	34.00	35.00	1.00	7.1
	and	43.00	66.00	23.00	7.3
	additionally contains	45.00	47.00	2.00	17.3
	and	70.00	71.00	1.00	9.3
	and	79.00	80.10	1.10	5.6
	and	82.00	83.00	1.00	7.9
	and	87.00	89.00	2.00	5.8
	and	98.10	99.00	0.90	5.7
	and	125.00	126.00	1.00	7.7
	and	127.00	128.00	1.00	5.8
	and	133.00	134.00	1.00	7.0
	and	137.00	140.00	3.00	5.3

No higher cut-off grade has been utilized. 0.4g/t Au decrease cut-off utilized, a most of 5m inside dilution has been allowed when calculating intercepts except in any other case said. All intervals over the cut-off grade and larger than 1gram-meter are introduced right here Italic intervals point out intercepts included throughout the wider intercept. Unless specified, true widths can’t be precisely decided from the knowledge obtainable. Bold intervals referred to in textual content of launch. Refer to https://rupertresources.com/news/ for particulars of beforehand launched drilling intercepts. EOH– End of Hole. NSI – No vital intercept

Table 5. Uncut mineralised intercept of 6.0g/t Au over 120m in drill gap 124043

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From (m)	To (m)	Int (m)	Au (g/t)
45.00	45.80	0.80	2.1
45.80	46.70	0.90	1.0
46.70	47.30	0.60	5.8
47.30	48.00	0.70	5.0
48.00	49.00	1.00	0.5
49.00	50.00	1.00	3.4
50.00	51.00	1.00	0.3
51.00	52.00	1.00	2.1
52.00	53.00	1.00	0.1
53.00	54.00	1.00	2.7
54.00	55.00	1.00	0.3
55.00	56.00	1.00	1.8
56.00	57.00	1.00	2.6
57.00	58.00	1.00	28.9
58.00	59.00	1.00	11.3
59.00	60.00	1.00	0.7
60.00	61.00	1.00	2.6
61.00	62.00	1.00	0.7
62.00	63.00	1.00	1.2
63.00	64.00	1.00	8.4
64.00	65.00	1.00	14.6
65.00	66.00	1.00	1.7
66.00	67.00	1.00	1.9
67.00	68.00	1.00	1.1
68.00	69.00	1.00	1.8
69.00	70.00	1.00	0.2
70.00	71.00	1.00	4.2
71.00	72.00	1.00	7.9
72.00	73.00	1.00	17.1
73.00	74.00	1.00	12.6
74.00	75.00	1.00	8.4
75.00	76.00	1.00	13.3
76.00	77.00	1.00	29.1
77.00	78.00	1.00	9.0
78.00	79.00	1.00	15.7
79.00	80.00	1.00	15.0
80.00	81.00	1.00	13.6
81.00	82.00	1.00	5.2
82.00	83.00	1.00	3.4
83.00	84.00	1.00	6.1
84.00	85.00	1.00	3.3
85.00	86.00	1.00	5.0
86.00	87.00	1.00	9.8
87.00	88.00	1.00	1.3
88.00	89.00	1.00	0.3
89.00	90.00	1.00	0.7
90.00	91.00	1.00	4.0
91.00	92.00	1.00	2.3
92.00	93.00	1.00	1.6
93.00	94.00	1.00	9.6
94.00	95.00	1.00	7.3
95.00	96.00	1.00	0.2
96.00	97.00	1.00	1.0
97.00	98.00	1.00	3.5
98.00	99.00	1.00	2.4
99.00	100.00	1.00	5.5
100.00	101.00	1.00	0.4
101.00	102.00	1.00	10.9
102.00	103.00	1.00	2.1
103.00	104.00	1.00	2.5
104.00	105.00	1.00	1.7
105.00	106.00	1.00	6.5
106.00	107.00	1.00	0.2
107.00	108.00	1.00	3.2
108.00	109.00	1.00	3.8
109.00	110.00	1.00	0.0
110.00	111.00	1.00	5.8
111.00	112.00	1.00	10.3
112.00	113.00	1.00	11.4
113.00	114.00	1.00	4.9
114.00	115.00	1.00	9.3
115.00	116.00	1.00	9.7
116.00	117.00	1.00	3.2
117.00	118.00	1.00	9.3
118.00	119.00	1.00	11.7
119.00	120.00	1.00	21.6
120.00	121.00	1.00	9.7
121.00	122.00	1.00	4.6
122.00	123.00	1.00	6.1
123.00	124.00	1.00	10.1
124.00	125.00	1.00	12.7
125.00	126.00	1.00	10.2
126.00	127.00	1.00	10.4
127.00	128.00	1.00	14.8
128.00	129.00	1.00	8.9
129.00	130.00	1.00	10.5
130.00	131.00	1.00	5.8
131.00	132.00	1.00	3.7
132.00	133.00	1.00	4.8
133.00	134.00	1.00	17.6
134.00	135.00	1.00	4.1
135.00	136.00	1.00	1.7
136.00	137.00	1.00	5.4
137.00	138.00	1.00	2.3
138.00	139.00	1.00	10.8
139.00	140.00	1.00	1.4
140.00	141.00	1.00	9.7
141.00	142.00	1.00	1.1
142.00	143.00	1.00	8.8
143.00	144.00	1.00	2.2
144.00	145.00	1.00	6.5
145.00	146.00	1.00	5.6
146.00	147.00	1.00	12.7
147.00	148.00	1.00	16.2
148.00	149.00	1.00	12.1
149.00	150.00	1.00	11.6
150.00	151.00	1.00	5.8
151.00	152.00	1.00	11.0
152.00	153.00	1.00	6.2
153.00	154.00	1.00	2.9
154.00	155.00	1.00	0.7
155.00	156.00	1.00	2.4
156.00	157.00	1.00	1.1
157.00	158.00	1.00	0.1
158.00	159.00	1.00	1.0
159.00	160.00	1.00	8.5
160.00	161.00	1.00	8.4
161.00	162.00	1.00	3.9
162.00	163.00	1.00	0.6
163.00	164.00	1.00	3.0
164.00	165.00	1.00	6.9

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Contacts

James Withall
Chief Executive Officer
jwithall@rupertresources.com

Thomas Credland
Head of Corporate Development
tcredland@rupertresources.com

Rupert Resources Ltd
82 Richmond Street East, Suite 203, Toronto, Ontario M5C 1P1
Tel: +1 416-304-9004 Web: http://rupertresources.com/

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Rupert Resources Reports Results From Project Drilling Including 120m at 6.2g/t Gold

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