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Rupert Resources Drills 482g/t Gold Over 1m and 5.2 g/t Over 9.5m at Heina South Target, Area 1

BusinessWire - Wed Jun 10, 7:00AM CDT

Rupert Resources Ltd ("Rupert" or "the Company") reports new drill results from its ongoing exploration programme at the 100% owned Pahtavaara Project in the Central Lapland Greenstone Belt, Finland.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200610005375/en/

The Company has intersected gold mineralisation within a pyrite-quartz vein stockwork that is up to 20m wide and has a projected strike length from drilling to date of at least 400m. The mineralisation remains open to the north east, the west and at depth with latest IP geophysics suggesting an un-tested offset to the sulphide zone. Heina South is located 1km north-west of the new Ikkari discovery where hole 120042 intersected 1.8g/t Au over 137m (see release dated May 12, 2020).

Highlights

The Heina South target area is approximately 1km(2) (figure 1) with a high concentration of base of till anomalies. Drilling to date has focused on the northern-most part of the prospect.

Holes 120011 and 120033 intersected the highest grades and are 200m apart in the east and west of the target respectively. Hole 120011 intersected 5.2g/t Au over 9.5m from 39m including 40.7g/t Au over 1m and hole 120033 intersected 482g/t over 1mHole 120007 intersected 5.6g/t Au over 2.6m from 53.6m, 10.4g/t Au over 2m from 84m, and 26.1g/t Au over 1.0m from 174m. The hole was drilled oblique to the anomaly but demonstrated early in the program the potential for scale.Hole 120031 intersected 2.6g/t Au over 12m from 83m, including 5.0g/t Au over 3m from 87m and Hole 120029 intersected 4m @ 3g/t Au and 2m @ 3.49g/t Au.

James Withall, CEO of Rupert Resources commented "The exploration drilling program at Area 1 has delivered some fantastic results from numerous targets. Heina South, under up to 20m of cover has recorded the highest-grade intersection to date outside of our Pahtavaara mine. We have yet to test the full extent of the gold anomalism at this target with mineralisation identified in both a stockwork vein setting and within neighbouring intrusive rocks. The geology team continue to build up our inventory of close proximity targets at Area 1 that itself represents just a fraction of the almost 300km(2) licence package."

Summary

The 2019/20 regional exploration program has focussed on a series of targets in Area 1, which contains just 5km of a 20km prospective structure on the Company's licence. Over 14,000m (80 holes) of diamond drilling has now been completed at Area 1. Table 1 highlights the best mineralised intercepts that have been drilled to date at the six discoveries since drilling commenced in April 2019.

Table 1. Reported intercepts >20g AuEq from Area 1

Hole ID           Prospect           From (m) To (m) Interval (m) Au (g/t)        Cu (%)
------- ----------------------------- -------- ------ ------------ -------- --------------------
 120033   Heina South   150.0   151.0      1.0       482.0   
 120042             Ikkari              10.8    148.0     137.2       1.8    
 120015          Island North           74.8    75.3       0.5       249.0   
 120038             Ikkari              25.0    79.0      54.0        1.5    
 119044  Heina Central  49.0    96.0      47.0        1.0            0.4
 119062  Heina Central  84.0    94.6      10.6        3.3            1.5
 120011   Heina South   39.0    48.5       9.5        5.2    
 119049  Heina Central  154.0   191.5     37.5        0.8            0.4
 119054          Island North           103.0   105.0      2.0       15.1    
 120007   Heina South   174.0   175.0      1.0       26.1    
 120031   Heina South   83.0    95.0      12.0        2.0    
 120007   Heina South   84.0    86.0       2.0       10.4

Notes to table: No upper cut-off grade was applied. 0.5g/t lower cutoff applied to all prospects except Ikkari where 0.4g/t Au lower limit is applied. Unless specified, true widths cannot be accurately determined from the information available. Ranking based on gold price of USD1500/oz, copper price USD2.5/lb and 100% metallurgical recovery. New results in bold.

Heina South

The Heina South target was identified by a series of high-grade base of till anomalies (up to 11ppm Au) and very limited drilling in the spring of 2019 (Hole 119031, see release from May 21, 2019, target previously called Vuoma South). Access for further drilling was limited to the winter season due to the low-lying wet ground conditions.

The gold mineralisation occurs within deformed sediments at a contact zone with intrusive rock types which are also mineralised to some extent. Evidence from drilling, base of till anomalism, ground magnetics and induced polarisation (IP) geophysical surveys indicate a sub-vertical zone that strikes ENE and drilling to date has identified gold mineralisation to 160m vertical depth (figure 2). To the west, the IP anomaly appears to be offset to the north and a large section of the anomaly has not yet been drill tested.

Follow-up drilling at this target will occur when access is available later in the year to test extensions, parallel and offset structures, and the remaining base of till anomalies in the southern half of the prospect.

Mineralisation at the Heina South prospect is covered with up to 10m of transported glacial till with restricted access in winter due to low lying wet ground conditions. Gold mineralisation is associated with multi-phase pyrite within quartz-pyrite and massive pyrite veins, as part of a stockwork of quartz-carbonate veins. Zones of massive pyrite contain the highest grades (up to 10 - 40g/t Au) with disseminated sulphides containing anomalous (<0.5g/t) gold. Early quartz-carbonate veins are overprinted by extensional veins that include coarse-grained pyrite and form sub-parallel trends, broadly related to lithological contacts between sediments and mafic-intermediate intrusives, although mineralisation also occurs within both lithologies.

About the Pahtavaara Project

The Pahtavaara Project is located in the heart of the Central Lapland Greenstone Belt, Northern Finland where the company owns the permitted Pahtavaara mine that is on active care & maintenance and within a contiguous licence package of almost 300km(2). The Company acquired the project for just USD $2.5m in 2016 and is undertaking exploration both at the existing mine and across the region to demonstrate the potential for significant economic mineralisation.

Area 1 comprises a large part of a structural corridor that lies between Kittila Group allocthon to the north and the younger Kumpu Group basin to the south. The zone is dominated by large E-W to ENE trending faults which have controlled broad to isoclinal folding within the sediment-dominated (Savukoski Group) rock package. A complex network of cross cutting structures has focused multi-stage fluid flow, with gold mineralisation associated with massive to fine-grained disseminated sulphides and concentrated at favourable structural intersections and fold hinges.

Review by Qualified Person, Quality Control and Reports

Mr. Mike Sutton, P.Geo. Director and Dr Charlotte Seabrook, MAIG, RPGeo. Exploration Manager, are the Qualified Persons as defined by National Instrument 43-101 responsible for the accuracy of scientific and technical information in this news release.

Samples are prepared by ALS Finland in Sodankyla and assayed in ALS laboratories in Ireland, Romania or Sweden. All samples are under watch from the drill site to the storage facility. Samples are assayed using fire assay method with aqua regia digest and analysis by AAS for gold. Over limit analysis for >10 ppm Au is conducted using fire assay and gravimetric finish for assays over >100ppm Au. For multi-element assays Ultra Trace Level Method by HF-HNO3-HClO4 acid digestion, HCl leach and a combination of ICP-MS and ICP-AES is used. The Company's QA/QC program includes the regular insertion of blanks and standards into the sample shipments, as well as instructions for duplication. Standards, blanks and duplicates are inserted at appropriate intervals. Approximately five percent (5%) of the pulps and rejects are sent for check assaying at a second lab.

Base of till samples are prepared in ALS Sodankyla by dry-sieving method prep-41, and assayed by fire assay with ICP-AES finish for gold. Multi-elements are assayed in ALS laboratories in either of Ireland, Romania or Sweden by aqua regia with ICP-MS finish. Rupert maintains a strict chain of custody procedure to manage the handling of all samples. The Company's QA/QC program includes the regular insertion of blanks and standards into the sample shipments, as well as instructions for duplication.

- Ends -

About Rupert

Rupert is a Canadian based gold exploration and development company that is listed on the TSX Venture Exchange under the symbol "RUP". The Company owns the Pahtavaara gold mine, mill, and exploration permits and concessions located in the Central Lapland Greenstone Belt in Northern Finland ("Pahtavaara"). Pahtavaara previously produced over 420koz of gold and 474koz remains in an Inferred mineral resource (4.6 Mt at a grade of 3.2 g/t Au at a 1.5 g/t Au cut-off grade, see the technical report entitled "NI 43-101 Technical Report: Pahtavaara Project, Finland" with an effective date of April 16, 2018, prepared by Brian Wolfe, Principal Consultant, International Resource Solutions Pty Ltd., an independent qualified person under National Instrument 43-101 - Standards of Disclosure for Mineral Projects). The Company also holds a 100% interest in two properties in Central Finland - Hirsikangas and Osikonmaki; the Gold Centre property, which consists of mineral claims located in the Balmer Township, Red Lake, Ontario; and the Surf Inlet Property in British Columbia.

Web: http://rupertresources.com/

Neither the TSX Venture Exchange nor its Regulation 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.

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, mineral resources. 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, 2019 available at www.sedar.com. 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. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.

APPENDIX

Table 2. Intercepts from the Heina South target

Hole ID   From   To  Interval (m)   Au  Estimated true width (m)
                               (m)   (m)               (g/t)
------- -------------------- ----- ----- ------------ ----- ------------------------
 120007    45.0  56.2     11.2       2.1          unknown
 120007         incl.         55.2  56.2      1.0       9.3          unknown
 120007    60.0  62.0      2.0       0.9          unknown
 120007    72.0  73.0      1.0      10.6          unknown
 120007    84.0  86.0      2.0      10.4          unknown
 120007    89.0  93.0      4.0       0.7          unknown
 120007    106.0 107.0     1.0       0.8          unknown
 120007    124.0 128.0     4.0       1.9          unknown
 120007    133.0 134.0     1.0       0.8          unknown
 120007    135.0 136.0     1.0       0.6          unknown
 120007    139.0 144.0     5.0       0.6          unknown
 120007    160.0 161.0     1.0       2.9          unknown
 120007    174.0 175.0     1.0      26.1          unknown
 120009    50.0  51.0      1.0      11.9          unknown
 120009    165.0 190.0    25.0       1.0          unknown
 120009         incl.         174.0 175.0     1.0       2.1          unknown
 120009         incl.         183.0 185.0     2.0       4.1          unknown
 120009         incl.         189.0 190.0     1.0       2.4          unknown
 120011    41.0  48.5      7.5       6.5          unknown
 120011         incl.         45.0  46.0      1.0      40.7          unknown
 120011    81.0  82.0      1.0       0.6          unknown
 120014    30.0  31.0      1.0       1.8          unknown
 120014    161.0 162.0     1.0       0.7          unknown
 120014    178.0 179.0     1.0       0.5          unknown
 120025    127.0 145.0    18.0       0.6          unknown
 120025         incl.         143.0 145.0     2.0       2.0          unknown
 120025    152.0 154.0     2.0       0.8          unknown
 120025    160.0 161.0     1.0       0.8          unknown
 120026    53.0  54.0      1.0       1.4          unknown
 120026    130.0 131.0     1.0       0.8          unknown
 120026    138.0 140.0     2.0       1.3          unknown
 120026    145.0 146.0     1.0       0.7          unknown
 120026    194.0 195.0     1.0       0.6          unknown
 120026    204.0 205.0     1.0       0.9          unknown
 120026    235.0 236.0     1.0       0.5          unknown
 120026    241.0 242.0     1.0       1.8          unknown
 120028    64.0  65.0      1.0       0.5            0.9
 120028    97.0  100.0     3.0       1.2            2.7
 120028    101.0 102.0     1.0       0.6            0.9
 120028    183.0 184.0     1.0       1.2            0.9
 120029    40.0  41.0      1.0       1.6          unknown
 120029    52.1  53.0      0.9       0.5          unknown
 120029    95.0  114.0    19.0       1.3          unknown
 120029         incl.         95.0  97.0      2.0       4.5          unknown
 120029         incl.         112.0 113.0     1.0       4.6          unknown
 120029    120.0 121.0     1.0       0.8          unknown
 120030    17.0  18.0      1.0       0.6          unknown
 120030    22.0  31.0      9.0       0.7          unknown
 120030    58.0  69.0     11.0       0.9          unknown
 120030         incl.         59.0  60.0      1.0       2.8          unknown
 120030         incl.         65.0  66.0      1.0       2.7          unknown
 120030    128.0 129.0     1.0       0.7          unknown
 120030    133.0 134.0     1.0       0.5          unknown
 120030    145.0 150.0     5.0       0.6          unknown
 120030    161.0 162.0     1.0       0.8          unknown
 120030    209.0 210.0     1.0       0.5          unknown
 120030    216.0 218.0     2.0       0.7          unknown
 120031    74.0  75.0      1.0       0.7            0.9
 120031    83.0  95.0     12.0       2.2           10.8
 120031         incl.         87.0  90.0      3.0       6.6            2.7
 120032    55.0  56.0      1.0       1.1            0.9
 120032    62.0  63.0      1.0       0.5            0.9
 120032    76.0  82.0      6.0       1.1            5.4
 120033    150.0 151.0     1.0      482.0           0.9
 120033    190.0 192.0     2.0       2.7            1.8
 120033    194.0 195.0     1.0       0.9            0.9
 120033    201.0 202.0     1.0       0.5            0.9
 120036    106.0 107.0     1.0       0.6          unknown
 120036    159.0 161.0     2.0       0.6          unknown
 120036    170.0 171.0     1.0       1.9          unknown
 120036    176.0 183.0     7.0       1.7          unknown
 120036         incl.         176.0 177.0     1.0       4.8          unknown
 120041    87.0  88.0      1.0       0.6          unknown
 120043    43.0  44.0      1.0       0.6          unknown
 120043    78.4  82.0      3.6       0.8            3.4
 120044    13.0  15.0      2.0       2.4          unknown
 120044    22.0  22.3      0.3       2.4          unknown
 120044    22.6  23.0      0.4       0.5          unknown
 120044    31.9  32.2      0.3       0.5          unknown
 120044    50.0  51.0      1.0       0.8          unknown
 120048    94.0  95.0      1.0       1.6            0.9
 120050    207.0 213.0     6.0       1.4            5.5
 120050    216.0 217.0     1.0       0.7            0.9
 120050    232.0 233.0     1.0       1.0            1.0

Notes to table: Results reported to a lower cut of 0.5g/t Au. No upper cut-off grade was applied. Unless specified, true widths cannot be accurately determined from the information available.

Table 3. Drill collar locations of Heina South drilling

Hole ID Easting  Northing  Elevation Azimuth  Dip  EOH (m)
------- -------- --------- --------- ------- ----- -------
 120007 453179.2  7497525.5   226.5    225.5  -45.3  224.7
 120009 453212.0  7497565.8   227.2    228.5  -45.1  191.9
 120011 453260.6  7497495.0   226.7    313.3  -45.3  196.8
 120014 453325.3  7497134.6   226.7    301.1  -50.9  199.6
 120016 453276.7  7497032.9   226.4    39.4   -45.0  199.8
 120024 452704.1  7496827.1   227.6    101.5  -50.7  127.6
 120025 453057.7  7497404.5   226.5    45.63  -45.3  198.5
 120026 452951.3  7497298.3   226.9    43.8   -45.8  255.5
 120027 452799.2  7497001.5   227.3    44.7   -45.4   170
 120028 453120.7  7497538.1   226.7    161.5  -50.8  201.3
 120029 453049.2  7497364.8   226.6    341.9  -50.4  139.2
 120030 453049.4  7497364.2   226.6    342.1  -65.4  220.5
 120031 453085.0  7497519.0   226.3    160.0  -50.6  127.2
 120032 453048.3  7497486.3   226.6    158.9  -50.4   133
 120033 452975.5  7497543.5   226.0    160.4  -49.8  204.9
 120036 453099.0  7497112.1   225.9    340.0  -50.0  200.1
 120041 452960.2  7497426.0   225.8    160.0  -50.0  89.6
 120043 453346.4  7497571.3   225.9    160.0  -50.0  149.4
 120044 452981.1  7497368.3   226.8    160.0  -50.0  153.8
 120046 453160.3  7497545.4   225.8    160.0  -50.0  202.3
 120048 453199.0  7497567.9   226.4    160.0  -50.0  143.2

Notes to table: The coordinates are in ETRS89 Z35 and all holes are surveyed at 3m intervals downhole and all core is orientated. No upper cut-off grade was applied. Unless specified, true widths cannot be accurately determined from the information available.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200610005375/en/

SOURCE: Rupert Resources Ltd">

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