New Zealand Fast-Track Permitting And A Positive PEA Land On The Same Reefton Goldfield Asset

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Issued on behalf of Rua Gold Inc.

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A 100%-owned underground gold-antimony starter mine in the historic Reefton Goldfield, with a positive PEA reporting US$42M base-case after-tax NPV5%, a Fast-Track Referral filed under New Zealand’s one-stop-shop regime, approximately C$38 million in cash, and 19,000 metres of drilling underway

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VANCOUVER, British Columbia, May 18, 2026 (GLOBE NEWSWIRE) — Canada News Group News Commentary — Gold has spent 2026 setting record highs amid sustained central bank purchasing and forecasts pushing toward US$5,000 per ounce by Q4 2026. Antimony was designated a U.S. Critical Mineral following China’s late-2024 export restrictions, and remains structurally short in Western markets. The intersection of those two macro setups inside a single project is unusual in the public market — and even more unusual when paired with a Fast-Track permitting jurisdiction and a 19,000-metre drill program already turning.[1]

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Rua Gold Inc. (TSX: RUA) (NZX: RGI) (OTCQX: NZAUF) (FSE: X9R) has consolidated that intersection on a single asset. On May 5, 2026, the Company released the results of a positive Preliminary Economic Assessment for the 100%-owned Auld Creek Gold-Antimony Project, located in the historic Reefton Goldfield on New Zealand’s South Island.[1] The PEA was prepared in accordance with the disclosure standards of National Instrument 43-101 and is effective April 25, 2026.[2] Two weeks earlier, on April 20, 2026, the Company had submitted its Fast-Track Referral application for the same project under New Zealand’s one-stop-shop Fast-Track Approvals regime, marking a key milestone in the Company’s transition from explorer to mine developer.[3] NOTE: For a Cautionary Note on Production Decision and related risks, please see the Disclaimer below.

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The PEA: Base Case Economics And Spot-Gold Leverage

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The Auld Creek PEA reports an after-tax NPV5% of US$42 million and an after-tax IRR of 17% at long-term gold of US$3,300 per ounce and antimony of US$27,000 per tonne, with a 3.3-year payback.[2] Using a spot gold price assumption of US$4,700 per ounce, the after-tax NPV5% increases to US$113 million, the after-tax IRR rises to 36%, and the payback compresses to 2.2 years.[2] Pre-production capital is US$132.6 million, inclusive of a US$29.8 million contingency representing approximately 29% of direct capital costs. Sustaining capital is estimated at US$63.9 million over the LOM.[2]

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The PEA mine plan models a 5.5-year initial mine life with average annual production of approximately 26,665 ounces gold-equivalent — for total LOM gold-equivalent production of approximately 146,660 ounces.[2] Total contained metals across the PEA mine plan are 84,000 ounces of gold and approximately 9,000 tonnes of antimony.[2] All-In Sustaining Costs are estimated at US$1,850 per ounce gold, placing the project comfortably inside the global gold cost curve at any reasonable price deck.[1]

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The project is anticipated to employ approximately 200 people and contribute an estimated NZ$240 million to the regional economy.[3]

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CEO Robert Eckford framed the outcome: “The Auld Creek PEA highlights the strong cash flow generation, compelling economics, and scalability potential within the Reefton Goldfield. This study represents only a portion of the broader district opportunity, with significant upside remaining at depth and along strike. With drilling underway and permitting advancing, we are well positioned to deliver a PFS in Q4 2026 and take advantage of New Zealand’s Fast-Track Approvals permitting process.”[1] An independent NI 43-101 Technical Report supporting the PEA disclosure is scheduled for filing on SEDAR+ within 45 days of the May 5, 2026 release.[1]