RUA GOLD Announces C$5 Million Brokered Offering of Common Shares

RUA GOLD Inc. (TSXV: RUA) (OTCQB: NZAUF) (WKN: A4010V) ("RUA GOLD" or the "Company") is pleased to announce that it has entered into an agreement with Cormark Securities Inc., as lead agent and on behalf of a syndicate of agents to be formed (collectively, the "Syndicate") to act as underwriters in a brokered offering of up to 12,500,000 common shares of the Company (the "Offering"). The Offering is expected to close on or about July 17, 2024, subject to customary closing conditions.

The Company has set the price per common share at C$0.40, with an overallotment option to purchase up to an additional 1,875,000 common shares at the same price, exercisable in whole or in part by the Underwriters, notwithstanding any exercise of the over-allotment option. The gross proceeds from the Offering, before deducting the underwriting commission and other estimated offering expenses, are expected to be approximately C$5.0 million.

The Company intends to use the net proceeds from the Offering for the following purposes:

1. To fund the exploration program on its Reefton Project, including ongoing drilling activities such as the Murray Creek targets, which are expected to provide updates in Q3 2024.
2. For general working capital and corporate purposes.

The Offering is subject to certain conditions, including the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. The Offering is also subject to other customary conditions for transactions of this nature.



RUA GOLD's CEO, Robert Eckford, commented: "This Offering marks an important point in the maturation of RUA GOLD and sets the stage for our aggressive growth plans. With the foundations now in place, we are well-positioned to execute on our exploration programs and deliver significant value to our shareholders."

In conclusion, RUA GOLD's C$5 million brokered offering of common shares aligns with the company's long-term growth strategy and financial objectives. The proceeds from the offering will be used to fund the exploration program on its Reefton Project and for general working capital and corporate purposes. The Offering is subject to certain conditions, including the receipt of all necessary approvals, and is expected to close on or about July 17, 2024. RUA GOLD's CEO, Robert Eckford, is confident that the Offering sets the stage for the company's aggressive growth plans and positions the company to deliver significant value to its shareholders.