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Vancouver, British Columbia--(Newsfile Corp. - November 5, 2026) - Rua Gold Inc. (TSX: RUA) (NZX: RGI) (OTCQX: NZAUF) (WKN: A40QYC) ("RUA GOLD" or the "Company") is pleased to announce the submission of its Substantive Application under New Zealand's Fast-track Approvals Act for the Auld Creek gold-antimony project (the "Auld Creek Project" or the "Project") in the Reefton Goldfield on the South Island of New Zealand.

The submission follows the Project's approval for referral into the Fast-track process and marks a key milestone in RUA GOLD's transition from explorer to mine developer. The application seeks the approvals required for the proposed underground mine and associated infrastructure through a coordinated consenting pathway.

Highlights:

• Substantive Fast-track application submitted for Auld Creek, advancing the Project to the next stage of the permitting process.
  
  
• Application supported by technical studies and assessments addressing environmental effects, social impacts and regional economic benefits.
  
  
• Permitting and technical studies progressing in parallel, with the Preliminary Feasibility Study (“PFS&) targeted for completion in Q4 2026.
  
  
• RUA GOLD continues to target receipt of the key Project approvals by mid-2027, subject to acceptance of the application, regulatory review and a favorable decision.
  
  
• The Project is proposed as an underground gold-antimony operation with an initial eight-year mine life, expected to employ over 200 people and contribute an estimated NZ$240 million to the regional economy.
  
  
• Auld Creek is intended to form the foundation for a broader gold-antimony development strategy across the Reefton Goldfield. November 5, 2026

Simon Delander, Vice President of the Company, commented, "This submission brings together extensive environmental, social and technical work undertaken by our team and independent advisors, alongside the stakeholder engagement that has helped shape the proposal. Our focus is now on supporting the assessment process and responding to requests for further information. We thank Ngati Waewae, the Reefton and wider West Coast communities, and everyone who has contributed to reaching this milestone.

The West Coast has a strong mining history, and we look forward to helping write the next chapter of mining for Reefton and the West Coast."

Figure 1: Auld Creek mining permit application area and surrounding points of interest.

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The Company's CEO Robert Eckford commented, "Submitting our Substantive Application is a major step toward bringing gold and antimony production back to Reefton. Auld Creek has the potential to anchor a wider operation in the Reefton Goldfield, creating skilled employment and opportunities for local businesses while helping address the global antimony supply deficit."

SUBSTANTIVE FAST-TRACK APPLICATION

Rua Gold's Auld Creek Project was initially assessed by the New Zealand Government through a fast-track referral process. The Referral application was accepted by the Environmental Protection Agency (EPA) allowing Rua Gold to make a Substantive Application.

The application brings together the proposed development plans and supporting assessments prepared by the Company and its independent advisors. These address water quality, ecology, landscape and visual effects, air quality, traffic, geochemistry, erosion and sediment control, and mine closure, alongside social and economic considerations.

Preparation of the application has been informed by engagement with Ngati Waewae, local communities, councils, regulators and other stakeholders. RUA GOLD intends to continue this engagement throughout the assessment process and as the Project's design is refined.

The application will now be subject to statutory reviews and assessment under the Fast-track Approvals Act 2024 for completeness before an expert panel is formed for a full assessment of the project, should the application meet the requirements of the completeness test.

PERMITTING PATHWAY AND NEXT STEPS

The fast-track regime enables eligible projects to seek approvals under several statutes through a single process. Submission is followed by checks for completeness and scope before an independent expert panel is established to assess the application and determine whether approvals should be granted and on what conditions.

The Company's mid-2027 permitting target remains subject to the assessment process, any requests for additional information, potential suspensions and any appeals. Submission of the application does not constitute approval of the Project.

In parallel, RUA GOLD is advancing the PFS to evaluate the proposed mining and processing approach and Project economics. Any decision to proceed with development will be subject to the results of technical and economic studies, receipt of the necessary approvals, financing and a final investment decision.

ABOUT RUA GOLD

RUA GOLD is an exploration company, strategically focused on New Zealand. With decades of expertise, our team has successfully turned major discoveries into long standing producing mines in 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 permits, in a district that historically produced over 2Moz of gold grading from 9-50g/t[1].

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 15Moz of gold and 60Moz of silver[2].

For further information, please refer to the Company's disclosure record on SEDAR+ at www.sedarplus.ca.

This news release includes certain statements that may be deemed "forward-looking statements". All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur and specifically include statements regarding: the Company's strategies, expectations, planned operations or future actions, including but not limited to continued engagement with Ngati Waewae, local communities, councils, regulators and other stakeholders, the timing or results of PFS, and the timing or result of an application for a mine permit. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements.

The forward-looking statements in this news release are necessarily based on a number of opinions, estimates and assumptions that we considered appropriate and reasonable as of the date hereof, which include but are not limited to: the Company will have the resources and opportunity to continue meaningful engagement with Ngati Waewae, local communities, councils, regulators and other stakeholders as assessment proceeds and the Project's design is refined; the PFS and any further studies required for a development decision will support the technical feasibility and economic viability of the proposed mining and processing approach; sufficient financing will be available on acceptable terms to make a positive final investment decision following completion of the necessary studies and receipt of approvals; there will be no material adverse changes in regulatory, political, economic, environmental or operating conditions that prevent or materially disrupt the Company's planned assessment, financing or development activities.

Investors are cautioned that any such forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. A variety of inherent risks, uncertainties and factors, many of which are beyond the Company's control, affect the operations, performance and results of the Company and its business, and could cause actual events or results to differ materially from estimated or anticipated events or results expressed or implied by forward looking statements. Some of these risks, uncertainties and factors include: general business, economic, competitive, political and social uncertainties; risks related to the effects of the Russia-Ukraine war; risks related to climate change; operational risks in exploration, delays or changes in plans with respect to exploration projects or capital expenditures; the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; changes in labour costs and other costs and expenses or equipment or processes to operate as anticipated, accidents, labour disputes and other risks of the mining industry, including but not limited to environmental hazards, flooding or unfavorable operating conditions and losses, insurrection or war, delays in obtaining governmental approvals or financing, and commodity prices. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements and reference should also be made to the Company's annual information form dated June 12, 2025, and other continuous disclosure documents filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors.

Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

[1] Technical Report on the Reefton Project, New Zealand, with an effective date of February 27, 2026 available under the Company's SEDAR+ profile at www.sedarplus.ca.

[2] Christie, A., Simpson, M., Barker, R., and Braithwaite, R. 2019. Exploration for epithermal Au-Ag deposits in New Zealand: history and strategy. New Zealand Journal of Geology and Geophysics, 62:1, 414-441. NI 43-101 Technical Report, Waihi District Pre-feasibility Study, New Zealand. OceanaGold Corporation, Report Date: December 11, 2024.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/322677