Rua Gold Responds to OTC Markets Request on Recent Promotional Activity

Vancouver, October 23, 2024 - Rua Gold Inc. (TSXV: RUA) (OTCQB: NZAUF) (WKN: A4010V) ("RUA GOLD" or the "Company") announces that it has been requested by OTC Markets Group Inc. ("OTC Markets") to issue this statement about promotional activity concerning its common shares (the "Shares") traded on the OTCQB Venture Market ("OTCQB") (operated by OTC Markets).

On October 21, 2024, OTC Markets informed the Company that it became aware of certain promotional activities concerning the Company and its Shares traded on the OTCQB, including the distribution of four email newsletters (the "Promotional Newsletters") published by Wealth Research Group LLC, an affiliate of Gold Standard Media, LLC ("Gold Standard"), Portfolio Wealth Global, an affiliate of Gold Standard, SHTFPlan.com, an affiliate of Gold Standard, and Future Money Trends LLC, an affiliate of Gold Standard, discussing the Company, its business, the economy, and the gold market generally.

On April 15 and October 11, 2024, the Company entered into advertising agreements with Gold Standard, whereby Gold Standard, along with its affiliates, Wealth Research Group LLC, Portfolio Wealth Global, SHTFPlan.com and Future Money Trends LLC, would provide investor relations and advertising services to the Company. The Company was therefore aware of Wealth Research Group LLC's, Portfolio Wealth Global's, SHTFPlan.com's and Future Money Trends LLC's promotional activities respecting the Company since April 15, 2024. Accordingly, the Promotional Newsletters were paid for by the Company through its engagement of Gold Standard.

The engagement of Gold Standard, the nature of the relationship between the Company and Gold Standard, as well as the compensation paid to Gold Standard, was publicly disclosed in news releases on April 17, 2024 and October 15, 2024, which can be found under the Company's profile on SEDAR+ (www.sedarplus.ca) and on the Company's website (www.RUAGOLD.com).

The Company provided Gold Standard with publicly available sources of information for its marketing materials and management reviewed and approved the materials prepared by Gold Standard prior to their dissemination, including to ensure factual accuracy. The Company does not believe the statements in the Promotional Newsletters were materially false or misleading. However, the Company notes that investing in the Company's securities involves certain risks and uncertainties which investors should review prior to making any investment decision. The Company encourages all investors to undertake proper due diligence and carefully consider all investment decisions. The Company directs potential investors to rely solely on its filings and disclosures made with the Canadian Securities Administrators, available at www.sedarplus.ca.

After inquiry of management, other than as disclosed herein, no directors and control persons, its officers, directors or controlling shareholders, or any third-party service providers have, directly or indirectly, been involved with the creation, distribution, or payment of promotional materials related to the Company and its securities.

An increase in the trading volume of the Shares was noted by the OTC Markets on October 21, 2024. The trading volume of 2,460,858 represented approximately 3.4% of the total volume of 73 million shares traded over the past 12 months in Canada. The Company understands certain promotional activity coincided with increased trading activity in its Shares beginning on October 21, 2024. However, the Company does not believe the promotional activities were the sole or primary factor in any increase in trading volume of its Shares. Rather, there are many other factors including the active exploration and development and acquisition of mineral properties over the past 12 months and press releases that are likely to affect trading activity of the Shares generally, which may include, but are not limited to:

1. https://ruagold.com/rua-gold-provides-an-update-on-previously-announced-acquisition-of-siren-golds-reefton-assets/

2. https://ruagold.com/rua-golds-drill-program-intersects-near-surface-gold-at-the-reefton-project/

Except as disclosed below, after inquiry of management, its officers, directors, any controlling shareholders, or any third-party service providers, the Company is not aware of any purchases or sales of the Shares in the past 90 days:

• Robert Eckford, Chief Executive Officer of the Company, acquired 555,556 Shares at $0.18 per Share on July 25, 2024, and 40,000 Shares at $0.155 per Share on September 18, 2024;

• Mario Vetro, a director of the Company, acquired 111,112 Shares at $0.18 per Share on July 25, 2024;

• Tyron Breytenbach, a director of the Company, acquired 55,556 Shares at $0.18 per Share on July 25, 2024;

• Paul Criddle, Chairman of the Company, acquired 111,112 Shares at $0.18 per Share on July 25, 2024;

• Oliver Lennox-King, a director of the Company, acquired 1,388,889 Shares at $0.18 per Share on July 25, 2024; and

• Zeenat Lokhandwala, Chief Financial Officer and Corporate Secretary of the Company, acquired 416,667 Shares at $0.18 per Share on July 25, 2024.

The Company has engaged the following third-party service providers to provide investor relations services, public relations services, marketing, or other related service within the last twelve months: MMG Market Medium GmbH & Co. KG (February 27, 2024), NAI Interactive Ltd. (April 4, 2024), Triomphe Holdings Ltd. dba Capital Analytica (February 29, 2024), Dig Media Inc. dba Investing News Network (April 16, 2024), Direct to Investor Media , LLC (February 27, 2024), Gold Standard Media, LLC (April 15, 2024 and October 11, 2024), Junior Mining Networking, LLC (April 8, 2024), and 2686362 Ontario Corporation dba CanaCom Group (August 12, 2024).

Other than pursuant to financings and acquisition transactions in accordance with TSX Venture Exchange policies, which the Company has publicly disclosed in news releases (available at: www.sedarplus.ca), including the public offering of Shares completed on July 25, 2024, the Company has not issued Shares, or convertible instruments allowing conversion to equity securities, at prices constituting, at the time of issuance of such shares or convertible instruments, a discount to the then current market price.

About RUA GOLD

RUA GOLD (TSXV: RUA) (OTCQB: NZAUF) (WKN: A4010V) is a new entrant to the gold mining space, specializing in gold exploration and discovery in New Zealand. Upon closing of the transaction with Siren Gold Limited announced in July 2024, the Company will have permits enveloping 90% of the Reefton Goldfield in New Zealand's South Island. This district has a rich history dating back to the gold rush in the late 1800s. The Company also has a highly prospective tenement package in the North Island, located within 3 kms of OceanaGold's biggest pipeline project, Wharekirauponga. RUA GOLD combines traditional prospecting practices with modern technologies to uncover and capitalize on valuable gold deposits.

The Company is committed to responsible and sustainable exploration, which is evident in its professional planning and execution. The Company aims to minimize its environmental impact and to execute on its projects with key stakeholders in mind. RUA GOLD has a highly skilled team of New Zealand professionals who possess extensive knowledge and experience in geology, geochemistry, and geophysical exploration technology.

For further information, please refer to the Company's disclosure record on SEDAR+ at www.sedarplus.ca.

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/227625