Rupert Resources Reports New Drilling at Heinä Central Identifying High Grade Near-Surface Mineralisation

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Highlights

• Hole 119062 intersected a mineralised zone of 3.3g/t Au and 1.5% Cu over 10.6m from 84m (including 12.3g/t Au over 2.0m and 1.8% Cu over 6.0m) confirming a second higher grade mineralised zone, parallel to the main zone of mineralisation at Heinä Central
• Heinä Central continues to grow. Drilling has now intersected similar sulphide-rich breccias over a strike length of 600m of the 700m EM anomaly. The recently completed down-hole EM survey has also indicated depth potential to at least 350m

James Withall, CEO of Rupert Resources commented “These latest higher grade assay results, near to surface, and in a second zone at Heinä Central further demonstrate the potential for economic continuity of mineralisation. The results show the ongoing effectiveness of Rupert’s exploration approach to generate positive drill results across its 297km² land package in the Central Lapland Greenstone Belt.”

Summary

As previously reported on November 7, 2019 a broad zone of gold and copper bearing sulphide mineralisation has been identified at Heinä Central, in Area 1 of the Pahtavaara Project (figure 1). Previously reported shallow intercepts from hole 119049 of 4.1g/t Au & 1.6% Cu over 4.0m from 35m (including 12.7 g/t Au and 4.3% Cu over 1.3m) and 8.3g/t Au & 2.0% Cu over 1m from 44m indicated a second zone to the east of, and parallel to, the broader main zone of mineralisation. The follow-up drilling in hole 119062 was designed to test the potential for vertical extent and successfully identified a more cohesive zone of mineralisation grading 3.3g/t Au and 1.5% Cu over 10.6m from 84m. This hole has confirmed continuity to at least 75m vertical depth with high-grade gold and copper mineralisation.

So far three mineralised zones have been identified within the broader envelope and mineralisation is open to the north, where untested base of till anomalies (>1g/t Au) are present, and to the south east. Estimated true width of the broadest zone intersected to date is up to 75m. Drilling has intersected sulphide-rich breccias over strike length of 600m with results received to date from drilling over 350m. Recently completed down-hole EM surveys from three holes indicate multiple sulphide zones that extend to at least 350m vertical depth. Drilling will continue to test the strike and depth potential of this discovery.

Table 1. Significant copper intercepts from Heinä Central with gold assays over the same intervals

Ongoing Programs

The success of the first three months of the Company’s exploration campaign has been outstanding. At the end of November 2019 a total of 5,072m had been drilled of our planned 15,000m regional exploration program and assays remain pending for initial drilling at the Hirvi and Island projects. Further to this, the base of till sampling over geophysical targets continues to identify further coincident anomalies of interest. Drilling will continue throughout the winter.

At the Pahtavaara mine, the Phase one surface diamond drilling program that has demonstrated an exceptional hit rate, will be completed in the coming weeks. The Phase Two program comprising surface reverse circulation and underground diamond drilling will begin in January.

Geological interpretation

The multiple sulphide zones identified (25 to >50% pyrrhotite+chalcopyrite+pyrite) are hosted by cataclastic quartz-dolomite breccia within a sedimentary sequence that includes interbedded siltstone and carbonaceous shale. This sequence is intruded by intermediate dykes and mafic intrusives are also present. Brecciation is associated with a broad, complex structural zone that is related to regional thrusting and localised folding. The extent and orientation of these structural zones and of the multiple mineralised zones, have not yet been fully determined and sulphide mineralisation remains open in all directions. Mineralised intercepts indicate that sulphides host broad zones of gold and copper mineralisation, with the potential for higher grade shoots to be developed within. Multi-element data and mineralogy suggests a magmatic component to mineralising fluids and the development of redox gradients, particularly evident by pyrite to pyrrhotite transitions, contributing to gold precipitation. Rupert has commenced metallurgical studies to understand the potential recoverability of gold and copper at this discovery.

Review by Qualified Person, Quality Control and Reports

In compliance with National Instrument 43-101, Mr. Mike Sutton, P.Geo. is the Qualified Person who supervised and approved the preparation of the scientific and technical disclosure in this news release.

Samples are prepared by ALS Finland in Sodankylä and assayed in ALS laboratory 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 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 Sodankylä 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.

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 has an Inferred mineral resource at a 1.5 g/t Au cut-off grade of 4.6 Mt at a grade of 3.2 g/t Au (474 koz) (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.

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. Drill hole locations from Heinä Central reconnaissance drilling

Table 3. Significant gold intercepts from Heinä Central with copper assays over the same intervals