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Maiden Inferred Resource for Ikkari of 49 million tonnes grading 2.5 grams per tonne (3.95 million ounces of gold)

September 13, 2021 - Rupert Resources Ltd (“Rupert” or the “Company”, TSX-V: RUP) is pleased to announce a maiden National Instrument (“NI”) 43-101-compliant mineral resource estimate (“MRE”) for the Ikkari discovery at the 100% owned Rupert Lapland Project in the Central Lapland Greenstone Belt (“CLGB”) in Northern Finland.

HIGHLIGHTS

  • Maiden inferred mineral resource estimate for Ikkari of 49 million tonnes (Mt) at 2.5 grams per tonne gold (g/t Au) for 3.95 million ounces (see Table 1). Resource estimate based on over 36,000 metres (m) of drilling to the end of June.
  • Resource timeline - Discovery hole to multi-million ounce baseline resource in less than 18 months.
  • High-quality ounces - Cohesive deposit comprised of broad intervals of strong and consistent gold mineralisation.
  • Maintaining momentum - Over 28,000m drilling in remainder of 2021 and an estimated 62,000m budgeted during 2022 - 60% focused on upgrading and expanding Ikkari resource with remainder to ongoing regional program.
  • Resource growth potential - Ikkari remains open at depth and along strike.
  • High grade potential - New infill drilling (not included in MRE) includes 5.4g/t Au over 122.3m from 241.7m in infill hole 121070, including 16.9 g/t Au over 11m from 286m and 10.6 g/t Au over 10m from 322m.
  • Updated MRE and preliminary economic assessment (“PEA”) planned for mid-2022.

James Withall, CEO of Rupert Resources commented: “Today’s maiden resource confirms Ikkari as a multi-million-ounce gold discovery whose value we are unlocking at an accelerated pace. The deposit’s exceptional continuity and proximity to surface, together with the outstanding performance of our Finnish team has allowed us to deliver an initial resource less than eighteen months from the discovery hole, approximately half the industry average. We believe the demonstrated size, grade, cohesive mineralisation and growth potential, combined with non-refractory metallurgy and proximity to infrastructure, positions Ikkari as one of the most high-quality advanced exploration-stage assets of recent years.”