Rupert Resources

Rupert Resources provides update on discussions with the owners of Fingold joint venture.  Focus continues on development of the Ikkari Project

Toronto, Ontario (July 8, 2024)  – Rupert Resources Ltd. (TSX: RUP) (the “Company”) today advises that, further to its press release dated March 11, 2024, it has been unable to reach acceptable terms to acquire the full 100% of the Fingold JV to consolidate further exploration licences near to the Ikkari Project (“Ikkari”).  Fingold is a joint venture held 70% by B2Gold and 30% by Aurion Resources. 

The Company continues to advance Ikkari, a gold deposit with exceptional resource continuity and open pit grade; best in class recoveries from a conventional processing route and in close proximity to excellent infrastructure and renewable power. Work programmes on the preliminary feasibility study and environmental impact statement are well underway and the Company will work with the Finnish authorities to ensure the optimal project scope is realised.

James Withall, Chief Executive of Rupert Resources said  “Ikkari is one of the world’s highest quality new gold discoveries and is located in one of the best jurisdictions for mining globally. We continue to advance the project towards a PFS later in 2024 and will work with the authorities to ensure we are able to develop the optimal project for local stakeholders whilst continuing our disciplined approach to ensure that investments remain accretive for Rupert shareholders.”