Rupert Resources Ltd. reports an updated Mineral Resource Estimate for its Ikkari Project showing a total Indicated Resource of 58.43 million tonnes ("Mt") at a grade of 2.18 grams per tonne of gold (g/t Au) for 4.09Moz contained gold. provides an update on the 2023/24 winter drilling campaign. The updated Ikkari Mineral Resource Estimate (MRE) is based on 111,896 metres of drilling to June 2023.

The MRE categorises 96% of the resource ounces in the Indicated category (84% in November 2022) a key milestone as the company progresses the Pre-Feasibility Study ("PFS"). Ikkari's MRE is now reported as an Indicated resource of 58.43 million tonnes ("Mt") at a grade of 2.18 grams per tonne gold (g/t Au) for 4.09Moz contained gold and 3.58 Mt at 1.18g/t Au for 136,000 ounces in the Inferred category. The decrease in Indicated grade to 2.18g/t versus the November 2022 MRE is due to reporting at a lower cut-off grade and the conversion to the Indicated category of lower grade Inferred resources when compared to those resources already classified as Indicated.

The high-grade core of the deposit is maintained as demonstrated by the grade-tonnage curves, particularly in the open pit portion of the resource where contained ounces are very stable across all cut-off grades up to 1.0g/t. As an example, considering only Indicated resources at elevated cut-off grades of 0.8g/t in the open pit and 1.2g/t in the underground portion, the estimated tonnage, grade and ounces would stand at 47.27Mt at 2.50g/t for 3.80Moz. Only Indicated Resources have sufficient confidence to be considered for Reserve conversion during the PFS; the combined open pit and underground Indicated resource grade from this updated MRE is 2.18g/t. During the Preliminary Economic Assessment ("PEA") both Indicated and Inferred resources could be combined during the mining and economic assessment. At the same cut-off grades reported here (0.4g/t and 0.9g/t) the PEA combined Indicated and Inferred resource grade was 2.2g/t. This serves to highlight the consistency in grade of the resource inventory available for the respective engineering studies.

The Company continues to progress the PFS for Ikkari, targeting completion to allow submission of the EIA Report document in 2024.