Rupert Resources Confirms Transaction Discussions With B2Gold Relating to Purchase of 70% Interest in Joint Venture Between B2Gold and Aurion Resources

Rhea-AI Summary

Rupert Resources Ltd. confirms preliminary discussions with B2Gold Corporation to potentially purchase B2Gold's 70% interest in a joint venture near the Company's flagship Ikkari project in Finland.

TORONTO--(BUSINESS WIRE)-- In response to the announcement today by Aurion Resources Inc. (“Aurion”), Rupert Resources Ltd. (TSX: RUP) (the “Company”) today confirmed that it is in preliminary discussions with B2Gold Corporation (“B2Gold”) regarding the potential purchase of B2Gold’s 70% interest in a joint venture between B2Gold and Aurion that has rights in respect of properties located near the Company’s flagship Ikkari project in northern Finland (the “Possible Transaction”).

No definitive agreement has been entered into at this time, and there can be no assurance that any such agreement will be reached, that any such agreement will ultimately result in a completed transaction or that any of the expected objectives or outcomes will be realized. The Company intends to provide further updates as circumstances warrant and in accordance with applicable securities laws.

About Rupert Resources

Rupert Resources is a gold exploration and development company listed on the Toronto Stock Exchange under the symbol “RUP”. The Company is focused on making and advancing discoveries of scale and quality with high margin and low environmental impact potential. The Company’s principal focus is Ikkari, a new high quality gold discovery in Northern Finland. Ikkari is part of the Company’s “Rupert Lapland Project,” which also includes the Pahtavaara gold mine, mill, and exploration permits.

Cautionary Note Regarding Forward-Looking Statements

This press release contains statements which, other than statements of historical fact constitute “forward-looking statements” within the meaning of applicable securities laws, including statements with respect to: results of exploration activities and mineral resources or relating to ongoing negotiations. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, are intended to identify such forward-looking statements. Investors are cautioned that forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the general risks of the mining industry, as well as those risk factors discussed or referred to in the Company's annual Management's Discussion and Analysis for the year ended February 28, 2023. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company does not intend, and does not assume any obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20240311660027/en/

For further information:

James Withall

Chief Executive Officer

jwithall@rupertresources.com

Thomas Credland

Head of Corporate Development

tcredland@rupertresources.com

Rupert Resources Ltd

82 Richmond Street East, Suite 203, Toronto, Ontario M5C 1P1

Tel: +1 416-304-9004

Web: http://rupertresources.com/

Source: Rupert Resources Ltd.

FAQ

What is the potential purchase discussed by Rupert Resources Ltd. with B2Gold Corporation?

Rupert Resources Ltd. is in preliminary discussions with B2Gold Corporation regarding the potential purchase of B2Gold's 70% interest in a joint venture near the Company's flagship Ikkari project in Finland.

Is there a definitive agreement in place for the Possible Transaction mentioned in the PR?

No definitive agreement has been entered into at this time for the Possible Transaction. There is no assurance that any agreement will be reached or result in a completed transaction.

What are the expected outcomes of the potential purchase discussed in the PR?

There is no guarantee of any expected objectives or outcomes being realized from the potential purchase. Further updates will be provided as circumstances warrant and in compliance with applicable securities laws.