RUA GOLD to become the dominant Reefton Goldfield explorer in New Zealand

Rua Gold Inc. (CSE: RUA, OTC: NZAUF, WKN: A4010V) (“RUA GOLD” or the “Company“) is pleased to announce it has entered into a definitive share purchase agreement (the “Agreement”), pursuant to which the Company will acquire 100% of the issued and outstanding shares of Reefton Resources Pty Limited (“Reefton”), a 100% owned subsidiary of Siren Gold Ltd. (ASX:SNG) (“Siren”) with tenements located adjacent to the Company’s suite of properties in New Zealand’s prolific Reefton Goldfield (the “Transaction”).

The Transaction will establish the Company as the dominant landholder in the Reefton Goldfield on New Zealand’s South Island, with approximately 120,000 hectares (“ha”) of tenements. The district produced over two million ounces at gold grades ranging from 9 to 50g/t. The Reefton Goldfield is seeing a resurgence in interest, led by the construction of Federation Mining’s Blackwater mine, which is expected to produce 70koz per annum at US$738/oz AISC

Following the completion of the Transaction, the Company will be well positioned as the preeminent gold explorer in New Zealand with a pro forma market capitalization of ~C$60 million.

Read the full press release here

(Rua Gold is exhibiting at Asia Gold Conference 2024. Register here for this event to meet them in person in Singapore.)