Rubellite Energy Corp T.RBY

Clearwater Exposure Expands

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During the second quarter, Rubellite spent $3.2 million to acquire 79.2 net sections of land through Crown land purchases and other transactions. Including lands acquired in the second quarter of 2022, the Company has grown its land position for exposure to the Clearwater play to over 298 net sections, up 187% from the 104 net sections held by Rubellite at its inception in July of 2021. A significant portion of the newly acquired lands are complementary to existing operating areas in Ukalta and Figure Lake on the southern Clearwater trend, while the remainder of the additional new acreage supplements Rubellite’s exploratory acreage in the northern Clearwater play fairway and captures land on other Clearwater exploration prospects.