Rupert Resources Ltd. reported follow-up assay results from the Heinä South satellite target and project drilling at Ikkari. The results from exploration drilling at Heinä South extend the broader mineralised zone to over 250m strike length and 200m vertical extent and include high-grade intercepts such as #124061 which intersected 10.5g/t Au over 24.40m including 112.5g/t Au over 2m. Project drilling at Ikkari continues to provide intercepts of exceptional width and grade continuity, increasing confidence in the ~4Moz Indicated Resource.

Drilling at the Heinä South target continues to identify a broader style of mineralisation than was in evidence from drilling undertaken in previous years and #124061 which intersected 24.40m at 10.5g/t Au including 2m at 112.5g/t Au demonstrates the potential for high-grade mineralisation within the broader more continuous trend. Previously intercepts of this nature such as #124019: 25m 16.5g/t Au from 83m including 1m at 363g/t Au (see press release 3rdMarch 2024) were encountered to the north of this trend. #124023 and #124027 tested the vertical extent of the mineralisation up-dip and down-dip of #124019 which also intersected 14m at 1.2g/t Au from 201m in the southernmost breccia (see press release 3rdMarch 2024).

#124023 intersected 23m at 1.4g/t Au from 58m and #124027 returned 29.0m at 1.9g/t Au from 231m including 1.0m at 26.7g/t Au with the intercepts from both holes occurring in the continuation of the sulphide rich breccia unit demonstrating continuity of mineralisation over 200m down-dip. Follow-up drilling has continued at Heinä South with three further holes completed before the spring thaw and work continues to identify the control on the high-grade mineralisation present at the deposit. Ikkari A project drilling program was initiated at Ikkari during spring 2024 serving multiple purposes: increasing confidence in the ~4Moz Indicated Mineral Resource Estimate (see press release 28thNovember 2023); providing additional material for metallurgical test work feeding into future, more advanced engineering studies and providing further geotechnical data for the optimisation of mine planning.

Results from the first 5-holes of the program are presented here and include wide intercepts through the deposit such as #124036 and #124037 (81.90m at 2.5g/t Au) and holes that targeted the high-grade core of the deposit such as #124038 (24m at 11.4g/t Au including 3m at 37g/t Au). These intercepts, each 20m from the closest drill hole, serve to increase confidence in the resource model at Ikkari and provide substantial material for future metallurgical test work as the project continues to be de-risked. Project engineering and permitting continues with a prefeasibility study now targeted for delivery in the second half of calendar 2024.

Geological interpretation of Heinä South The Heina South target was reappraised based on results from a new higher resolution geophysical survey flown in later 2023 which identified a south-west extension which had been untested in previous years due to a lack of base of till anomalism. Gold mineralisation in the west of Heinä South is associated with multi-phase sulphide mineralisation consisting of pyrite+-pyrrhotite+-chalcopyrite, principally occurring as the matrix to an earlier brecciated (iron)-carbonate phase. The earlier veins occur primarily within altered carbonaceous sediments folded between more homogenous gabbroic units.

Gold mineralisation in the east of Heinä South is hosted within quartz-pyrite and massive pyrite veins and as lenses, as part of a stockwork of quartz-carbonate veins. Zones of massive pyrite contain the highest grades (>10g/t Au) with disseminated sulphide zone containing anomalous (<0.5g/t) gold. Early quartz-carbonate veins are overprinted by extensional veins that include coarse-grained pyrite and form sub-parallel trends, broadly related to lithological contacts between sediments and mafic-intermediate intrusives, although mineralisation also occurs within both lithologies.

Further drilling is required to allow a resource to be published for the occurrence. Geological interpretation of Ikkari Ikkari was discovered using systematic regional exploration that initially focused on geochemical sampling of the bedrock/till interface through glacial till deposits of 5m to 40m thickness. No outcrop is present, and topography is dominated by low-lying swamp areas.

The Ikkari deposit occurs within rocks that have been regionally mapped as 2.05-2.15 billion years (?Ga?) old Savukoski group greenschist-metamorphosed mafic-ultramafic volcanic rocks, part of the Central Lapland Greenstone Belt (?CLGB?). Gold mineralisation is largely confined to the structurally modified unconformity at a significant domain 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 structure appear to be sub-vertical in contrast to wider Area 1 where lithologies generally dipping at a moderated angle to the north. The main mineralized zone is strongly altered and characterised by intense veining and foliation that pervasively overprints original textures. An early phase of finely laminated grey ankerite/dolomite veins is overprinted by stockwork-like irregular siderite ± quartz ± chlorite ± sulphide veins.

These vein arrays are often deformed with shear-related boudinage and in situ brecciation. Magnetite and/or haematite are common, in association with pyrite. Hydrothermal alteration commonly comprises quartz-dolomite-chlorite-magnetite (±haematite).

Gold is hosted by disseminated and vein-related pyrite. Multi-phase breccias are well developed within the mineralised zone, with early silicified cataclastic phases overprinted by late, carbonate- iron-oxide- rich, hydrothermal breccias which display a subvertical control. All breccias frequently host disseminated pyrite, and are often associated with higher gold grades, particularly where 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.