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New drill results from Heinä Central and Ikkari

November 29, 2021 - Rupert Resources Ltd (“Rupert” or the “Company”), a company advancing the multi-million-ounce Ikkari gold deposit and new regional discoveries at the company’s 100% owned Rupert Lapland Project in Northern Finland, is pleased to announce new drill results that strengthen our Ikkari resource, demonstrate the potential for a satellite deposit, and introduce a high-grade copper component to mineralization in the district.

Rupert announced on September 13, 2021 a National Instrument 43-101 inferred mineral resource estimate of 49 million tonnes (“Mt”) at 2.5 grams per tonne gold (“g/t Au”) for 3.95 million ounces1. Rupert is well-funded to maintain momentum: the Company has contracted rig capacity capable of drilling a budgeted 90,000 metres (“m”) to the end of 2022. Approximately 60% of drilling will be focused on upgrading and expanding the Ikkari resource estimate, with the remainder allocated to a regional program targeting potential satellite orebodies and new discoveries of scale.

HIGHLIGHTS

Heinä Central:

  • New drilling demonstrates both the satellite potential at Heinä Central, located 1 kilometre (km) north of Ikkari, and highlights associated high-grade copper (“Cu”) potential with multiple intervals including copper grades in excess of 1% (tables 1 and 2a) .
  • High-grade copper: Hole #121088 returned 1.0 g/t Au and 1.6% Cu over 56m from 131m (101m vertical), including 2.4g/t Au and 3.9% Cu over 10m.  
  • High-grade gold: Potential indicated by Hole #121116 which intersected 40.3g/t Au over 6.7m, including 259g/t Au over 1m from 104m
  • Previously reported metallurgical work indicates potentially straightforward processing.

Ikkari:

  • Six new drill holes from Ikkari (tables 1 and 2b) strengthen the resource on tighter drill spacing with high-grade gold underground potential indicated by drill hole #121115, which returned 7.7 g/t Au over 30m from 457m (375m vertical).
  • Circa 20 holes pending

James Withall, CEO of Rupert Resources commented “In a very short-time frame, we have clearly demonstrated our technical understanding in delineating what is becoming a significant mineralized district. Leveraging our exploration methodology, we have advanced from discovery to delineation of a baseline resource of scale at Ikkari in a very efficient timeline, and our regional program continues to show the district’s scale through growing discoveries and identifying new targets. The results reported today from Heinä Central show increased grade and down-hole widths at depth, and highlight its potential to contribute to the critical mass attained by Ikkari.”