Audited Financial Results for the Twelve Months Ending December 31, 2025

The most recent news (March 26, 2026) confirms the completion of the 2025 audited financial year, reporting a cash position of $94 million. This follows the February 2026 appointment of Ausenco Engineering to lead the Ikkari Feasibility Study (FS). Key project optimizations in water and waste management have been integrated into the project design. The company has successfully transitioned from the Pre-Feasibility Study (PFS) stage—which outlined a US$1.7 billion after-tax NPV (5%) and 38% IRR—into the formal Feasibility phase.

The news is Routine - Positive. While the appointment of Ausenco and the commencement of the FS are critical milestones, they were largely telegraphed in previous 2025 updates. - In-line with Expectations: The transition to FS in early 2026 aligns with the "H2 2025/early 2026" guidance provided in mid-2025. - Financial Stability: The $94M cash balance (down from $106M in June 2025) shows a controlled burn rate despite heavy geotechnical and hydrogeological drilling. - Optimization Gains: Confirmed gold recoveries of >95% and simplified waste management designs reduce technical risk, though they do not fundamentally alter the already robust PFS economics. - Strategic Alignment: The continued involvement of Agnico Eagle (14% shareholder) and the appointment of their nominee, Carol Plummer, to the board provides significant technical and jurisdictional de-risking.

Rupert Resources is focused on the Ikkari Project in the Central Lapland Greenstone Belt, Finland. - Flagship: Ikkari is a multi-million ounce discovery (4.09Moz Indicated) characterized by high grades (2.18 g/t Au) and low projected costs (LOM AISC US$918/oz). - Development Path: Currently in Feasibility stage with a planned open-pit and underground operation. - Jurisdiction: Finland is ranked as a top-tier mining jurisdiction, though environmental scrutiny is increasing.