Rua Gold outlines 2026 drilling, permitting plans

Executive Summary

• Rua Gold Inc. outlines its 2026 strategy, leveraging approximately $38 million in available cash following a January 2026 financing to drive exploration and permitting catalysts.
• The company is executing a four-rig drill program at the Reefton project on the South Island to expand resources at Auld Creek and identify new targets, with an updated NI 43-101 technical report expected by month-end.
• Significant permitting milestones are targeted for Reefton, including a fast-track referral application submission in Q1 2026 and a mining permit application by the end of 2026, supported by strong local stakeholder engagement.
• Drilling is set to commence at the Glamorgan project on the North Island, with drill permits anticipated in Q2 2026 following the completion of environmental studies and Maori consultations.

Key Details

• Financial Position: The company has approximately $38 million in available cash, resulting from an oversubscribed and upsized financing completed in January 2026.
• Reefton Project (South Island) Exploration:
  • Four drill rigs are currently active.
  • Three rigs are conducting stepout drilling at the Auld Creek target to expand the existing resource.
  • One rig is targeting other prospective areas within the past-producing Reefton goldfield to identify shallow, continuous mineralization for low-capital-intensity resource definition.
  • RSC Consulting is completing an updated National Instrument 43-101 technical report, expected to be published by the end of the month, which will establish a baseline resource at Auld Creek.
• Reefton Project (South Island) Permitting:
  • Key partners with experience from Endura Mining’s Snowy River project and OceanaGold’s Wharekirauponga and Globe progress projects have been appointed.
  • Field visits were completed in December and January.
  • Targeting submission of a fast-track referral application in Q1 2026.
  • Regulatory decision on fast-track eligibility anticipated in Q2 2026.
  • Targeting submission of the fast-track mining permit application by the end of 2026, subject to successful referral.
  • Engagement with local Maori stakeholders (Te Runanga o Ngati Waewae) is ongoing, including cultural impact assessments.
• Glamorgan Project (North Island) Exploration:
  • Located in the Hauraki goldfield, adjacent to OceanaGold’s Wharekirauponga project.
  • Surface exploration identified geological features extending three kilometers north, analogous to Wharekirauponga.
  • Four major gold-arsenic anomalies defined, each trending approximately four kilometers in length.
  • Initial drill program consists of 5,000 meters to be executed with two drill rigs over six months.
  • Drill permit applications have been submitted; environmental studies expected to complete by end of February.
  • Maori consultation scheduled for March; drill permits anticipated in Q2 2026.
• Strategic Context:
  • New Zealand has joined the International Minerals Security Partnership, aligning with Rua Gold’s strategy to leverage the country’s fast-track permitting process for critical minerals like antimony and gold.