Resource Development and Near Term Production Potential in Finland

Pahtavaara operated between 1996 and 2014. Production peaked at 37,000oz, and existing mill capacity is over 1,400 tonnes of ore a day. Since acquiring the mine in 2016, Rupert has undertaken over 50,000m of diamond drilling and undertaken a geological modelling exercise using the significant amount of historical drill data and 35km of underground tunnelling that exists for the deposit. This new approach has shown that the mineralized system at Pahtavaara is significantly larger than previously thought and typical of many other greenstone hosted deposits. The new interpretation will form the basis of a new baseline resource and future exploration efforts.

Rupert Resources has also commenced exploration on its contiguous 290km² land package in the center of a region which hosts Agnico Eagle’s 8Moz Kittila mine and significant Ni-Cu-PGM polymetallic deposits represented by Boliden’s Kevitsa mine and Anglo American’s Sakatti Project.

The Company also holds a 100% interest in the Gold Centre property, which consists of mineral claims located in the Balmer Township, Red Lake Mining Division of Ontario.