TORONTO, Nov. 05, 2018 (GLOBE NEWSWIRE) -- Rupert Resources Ltd (“Rupert” or “the Company”) is pleased to
announce that it intends to complete a non-brokered private placement of up to 10,000,000 common shares (“Common Shares“) of the
Company at a price of $0.80 per Common Share for gross proceeds of up to $8,000,000 (the “Private Placement“).
The Private Placement is subject to the approval of the TSX Venture Exchange. The securities issued in
connection with the Private Placement will be subject to a four month hold period, in accordance with applicable securities
laws.
The Company intends to use the proceeds from the Private Placement for its continued exploration program of the
Pahtavaara project and general corporate purposes.
The Company may pay a commission or finder’s fee to eligible parties in connection with the Private Placement,
subject to the approval of the TSX Venture Exchange and compliance with applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in the United States. The securities have not been and will not be registered under the United States Securities Act of
1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States
unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is
available.
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.
For further information, please contact:
Rupert Resources Ltd
82 Richmond Street East, Suite
203, Toronto, Ontario M5C 1P1
Tel: +1 416-304-9004
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 constitute ”forward-looking statements”, including the
completion of the proposed Private Placement and the anticipated use of proceeds. 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, 2018 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. The Company does not intend, and does not
assume any obligation, to update these forward-looking statements except as otherwise required by applicable
law.