New Zealand fast-tracks gold-antimony mine, clears first drill program

News Provided by USA News Group on behalf of RUA Gold Inc.

In the span of six days, RUA GOLD received Fast-Track designation for Auld Creek and drill approval for Glamorgan. Two assets. Two milestones. Two distinct pathways toward value creation. One company.

VANCOUVER, British Columbia, Aug. 11, 2026 (GLOBE NEWSWIRE) -- USA News Group News Commentary - There is a version of the junior gold exploration story that runs on patience: drill, wait for results, drill again, wait longer. And then there is the version that runs on momentum -- where multiple catalysts are converging simultaneously, where the regulatory environment is actively accelerating rather than impeding development, and where the company has enough capital to execute against all of it without going back to the market. RUA GOLD Inc. is currently living the second version. In the span of six days spanning late July and early August 2026, the company received Fast-Track designation for its Auld Creek Gold-Antimony Project in the Reefton Goldfield, confirming national significance and triggering a six-month expert panel permitting review, and received all required regulatory approvals to commence exploration drilling at its Glamorgan Project in the Hauraki district, where two years of surface work have defined three priority targets in one of New Zealand's most productive gold belts. Simultaneously, a Pre-Feasibility Study for Auld Creek is advancing toward a Q4 2026 completion, with 800 community and stakeholder engagements documented and the full technical study package being assembled for the substantive Fast-Track application. This is not a company waiting. This is a company executing.

Companies mentioned: RUA GOLD Inc. (TSX: RUA) (NZX: RGI) (OTCQX: NZAUF) (FSE: X9R), Snowline Gold Corp. (TSX: SGD) (OTCQB: SNWGF), McEwen Mining Inc. (TSX: MUX) (NYSE: MUX), Probe Gold Inc. (TSX: PRB) (OTCQX: PROBF), Hochschild Mining plc (LSE: HOC) (OTCQX: HCHDF)

Key Takeaways

Fast-Track designation confirmed for Auld Creek. The New Zealand Government's decision recognizes the project as nationally significant, consolidating multiple approval processes into a single six-month expert panel review. RUA GOLD plans to submit the substantive application later in 2026, supported by the completed PFS.

Glamorgan drill approval received August 4. All regulatory approvals are in hand for the first-ever drilling of three priority targets on the North Island Hauraki project, adjacent to OceanaGold's Wharekirauponga. The drill bit has never touched this ground before.

PFS targeted Q4 2026. Mining consultancy groups Mining One and Pitch Black are advancing the Pre-Feasibility Study incorporating all drill results through approximately September. The PFS will be the principal technical document supporting the Fast-Track substantive application.

C$30 million in available cash. Following the January 2026 oversubscribed and upsized financing, RUA GOLD is fully funded to execute across both the Auld Creek PFS and the Glamorgan drill program without returning to the market.

800 community and stakeholder engagements completed. The depth of the consultation record positions RUA GOLD ahead of most junior developers entering a formal permitting process, and reflects a company that has treated community engagement as a core competency rather than a compliance exercise.

Six Days That Changed the Development Calendar

The Fast-Track designation for Auld Creek, announced July 30, 2026, and the Glamorgan drill approval, announced August 4, 2026, arrived within six days of each other and represent the most consequential week in RUA GOLD's corporate history. Each milestone would be significant in isolation. Together, they define a dual-catalyst structure that gives the company multiple independent news tracks running simultaneously through the remainder of 2026.

The Fast-Track designation means the New Zealand Government has formally recognized Auld Creek as a project of national significance. Under the Fast-Track Approvals Act, this replaces a fragmented multi-statute approvals process with a single six-month expert panel review, with a single submission and a single determination. The process is not guaranteed to result in permit approval, but it provides a defined timeline that can be planned around -- and the six-month clock creates a Q1 2027 decision window if the substantive application is submitted before year-end 2026. RUA GOLD has spent the better part of two years preparing for this moment. Over 800 engagements with community members, stakeholders, and regulators. Environmental, geotechnical, hydrological, and socio-economic studies either completed or well advanced. A team of specialist consultants retained across every technical discipline required. The company was ready before the designation arrived.

The Glamorgan drill approval is a different kind of milestone. Where Fast-Track is a permitting event, the Glamorgan approval is an exploration event -- specifically, the first opportunity to test a geological hypothesis that two years of systematic surface work has built into a compelling and multi-evidenced case. Three priority targets have been defined, supported by coincident UAV magnetic geophysical anomalies, gold-arsenic soil sampling across four major anomaly zones each trending approximately four kilometres in length, CSAMT resistivity features, and TerraSpec clay mineral analysis confirming the silica and alteration assemblages of a productive epithermal system. The targets sit approximately three kilometres northwest of OceanaGold's Wharekirauponga deposit. The drill bit has never tested this system. That combination -- rigorous surface preparation, exceptional geological context, no prior drilling -- is the setup that experienced epithermal gold explorers recognize.

Auld Creek: What Fast-Track Means in Practice

The Auld Creek Gold-Antimony Project is not a new story in New Zealand's mining calendar. The Reefton Goldfield produced over two million ounces of gold historically at grades between nine and fifty grams per tonne. Auld Creek is the most advanced effort to unlock the modern potential of that endowment, and it carries a dual-metal profile that makes it unusual among current gold developments globally: high-grade gold alongside antimony, a critical mineral formally designated as strategically important by both the United States and Canadian governments and now the subject of export controls by China that have driven Western demand for non-Chinese supply to levels not seen in decades.

The Preliminary Economic Assessment completed in early 2026 outlined a pre-tax IRR of 69% and a pre-tax NPV of US$979 million at a base-case gold price of US$3,200 per ounce. At spot-price assumptions at the time of the study, the pre-tax IRR reached 109% and the pre-tax NPV exceeded US$2.1 billion. The PFS underway from Mining One and Pitch Black will provide a more rigorous economic picture, incorporating a resource base that has grown since the drill program began, geotechnical and hydrogeological data collected during the infill program, and metallurgical test results from the bulk sample program.

The practical significance of Fast-Track designation extends beyond the permitting timeline. Financing decisions, equipment procurement, staffing plans, and community commitments can all be structured with greater confidence when the permitting process has a defined endpoint. Contractors and technical partners can be engaged in anticipation of a positive determination rather than held at arm's length. And investors who have applied discount rates to the project for permitting uncertainty can begin to model scenarios with a confidence that was not available before July 30, 2026.

Glamorgan: Two Years of Work, Now Being Drilled

RUA GOLD received a drone concession for the Glamorgan Project in May 2024 and approval for minimum-impact exploration in July 2024. It deployed a Geometrics MagArrow magnetometer under a DJI M300 drone and flew approximately 590 line kilometres of UAV magnetic survey, identifying two areas of strong demagnetization interpreted as the alteration footprint of a major epithermal system. Soil sampling across 3,181 samples defined four major gold-arsenic anomalies designated A through D. Anomaly A trends north-northwest for approximately 4.2 kilometres, directly consistent with the structural orientation of the Wharekirauponga deposit. CSAMT resistivity surveys identified deep-rooted resistive features beneath the surface anomalies. TerraSpec analysis confirmed silica-flooding and chalcedony at surface. Every independent line of evidence pointed to the same targets. Three of them are now being drilled for the first time.

"Receiving approval to commence drilling at Glamorgan is a significant milestone for RUA GOLD. Our exploration team has systematically developed a compelling geological model and identified three priority drill targets supported by coincident geophysical, geochemical and geological indicators. With drilling now set to test this highly prospective epithermal system for the first time, we have an exceptional opportunity to unlock a potentially significant new gold discovery in one of New Zealand's premier gold districts," said Simon Henderson, Chief Operating Officer of RUA GOLD.

The Dual-Asset Architecture

The value of the six-day catalyst period lies not in either milestone individually but in what they reveal about RUA GOLD's portfolio architecture. The company has deliberately built a structure in which two assets -- Auld Creek on the South Island and Glamorgan on the North Island -- are advancing on different but complementary timelines, providing investors with multiple independent catalysts and reducing the binary risk of a single-asset development story.

Auld Creek is the development asset: a defined resource, a completed PEA, a PFS underway, Fast-Track designation confirmed, and a production timeline that -- if permitting proceeds as planned -- could see a determination in Q1 2027 and construction beginning in 2027. The asset that generates the institutional attention, the economic models, and the valuation anchors.

Glamorgan is the exploration asset: an undrilled epithermal system in one of New Zealand's most productive gold districts, adjacent to one of the highest-grade undeveloped deposits in the world, now being tested for the first time. The asset that generates the discovery potential -- the possibility of a result that changes the scale of the RUA GOLD story entirely. For investors assessing when and at what price to establish a position, the combination of a near-term permitting decision at Auld Creek and first-ever drill results at Glamorgan arriving within the same six-month window creates a catalyst density that is unusual for a company at this stage.

The High-Grade Gold Development Names Investors Are Watching

Snowline Gold Corp. (TSX: SGD) (OTCQB: SNWGF)

Snowline Gold is the most instructive comparator for understanding how the market values a high-grade junior developer with a compelling geological story, a defined development pathway, and a strong balance sheet in the current gold price environment. The company is advancing the Rogue Project in the Yukon Territory, where the Valley gold deposit hosts one of the largest and highest-grade bulk-tonnage gold discoveries made in Canada in recent years. A Prefeasibility Study, with Wood Canada Limited as lead engineering consultant, is underway. On August 5, 2026, Snowline announced a C$150 million bought deal financing led by BMO Capital Markets, at C$14.50 per share, which is expected to close around August 12, 2026. At a market capitalization of approximately C$2.72 billion at the time of the announcement, Snowline illustrates the valuation that the market assigns to a high-grade junior with a fully funded, clearly defined pathway to economic study completion in a politically stable, pro-development jurisdiction. The C$30 million that RUA GOLD holds following its January 2026 financing is the same class of balance-sheet positioning -- full funding to execute the technical program that determines whether the company's assets can support the development valuation the market is beginning to assign to its peer group.

McEwen Mining Inc. (TSX: MUX) (NYSE: MUX)

McEwen Mining provides the most relevant producing analogue for understanding what high-grade underground gold systems look like in commercial operation in a stable, pro-mining jurisdiction. The company's Fox Complex in the Timmins Gold Camp of Ontario operates the Stock Mine underground gold deposit, which has been producing at grades well above the global average for underground gold mining and continues to deliver quarterly results that reflect the margin leverage that high-grade underground operations command in an elevated gold price environment. McEwen Mining guided 2026 gold equivalent production of approximately 195,000 to 225,000 ounces, with the Fox Complex and the El Gallo Mine in Mexico as primary contributors. The company's experience developing and operating high-grade underground gold systems in established Canadian mining jurisdictions -- with the community relationships, regulatory track records, and technical expertise that requires -- is the operational template that sits behind the underground mine plan that RUA GOLD's PFS is now being designed to optimize at Auld Creek.

Probe Gold Inc. (TSX: PRB) (OTCQX: PROBF)

Probe Gold is one of Canada's most active high-grade gold developers and provides the clearest available precedent for what happens to a well-managed junior when it systematically builds a world-class resource base in a tier-one jurisdiction through disciplined drilling. The company is advancing the Novador Gold Project in the Abitibi Greenstone Belt of Quebec, where recent resource estimates have defined one of the largest undeveloped high-grade gold deposits in the belt. Probe's 2026 exploration program is fully funded and focused on resource expansion drilling at Novador, with the company having attracted institutional support from major mining companies who recognize the quality of the deposit. The trajectory that Probe is following -- from early drill success through systematic resource delineation toward a development decision -- is the archetype of the path that RUA GOLD is executing in New Zealand, and Probe's institutional re-rating as its resource has grown illustrates the kind of value creation that a high-grade discovery in a tier-one jurisdiction can generate when the drilling is disciplined and the development pathway is credible.

Hochschild Mining plc (LSE: HOC) (OTCQX: HCHDF)

Hochschild Mining is a producing silver and gold company with a track record of developing and operating high-grade underground precious metal mines across multiple jurisdictions in the Americas, and provides the commercial destination reference point for what RUA GOLD's Auld Creek could ultimately aspire to become as a producing underground gold-silver-antimony operation. Hochschild operated the Pallancata, Inmaculada, and San Jose mines, and has been expanding its asset base through the development of new projects including Mara Rosa in Brazil, which achieved commercial production in Q2 2024. In 2025, Hochschild produced approximately 350,000 gold equivalent ounces and generated EBITDA of approximately US$350 million, reflecting the cash flow profile of a well-managed high-grade underground precious metals producer at current prices. The company's experience managing the technical, community, environmental, and regulatory dimensions of underground mine development in complex jurisdictions -- and doing so consistently enough to sustain a London Stock Exchange listing and institutional investor base -- is the operational model that underpins the long-term value proposition of high-grade underground gold projects like Auld Creek. These companies are referenced to illustrate the sector only and do not imply any partnership, endorsement, affiliation, or comparable financial performance.

What to Watch

The remainder of 2026 is the most catalyst-dense period in RUA GOLD's history. The Glamorgan drill program is underway, and first results from the three priority targets will be the most significant geological news the company has generated. Epithermal gold exploration results are binary: either the system delivered gold to the target zone or it did not. The surface preparation has been exceptional. The geological context is as good as it gets in New Zealand gold exploration. What the drills return will determine whether Glamorgan becomes the second development-stage asset in the RUA GOLD portfolio or remains a long-term exploration optionality play while Auld Creek takes centre stage.

The PFS for Auld Creek, targeted for Q4 2026, will establish the project's economics on the most rigorous basis yet achieved. The resource that the PFS incorporates will be larger than the one the PEA used, reflecting all drill results through approximately September. The technical data -- geotechnical, hydrogeological, metallurgical -- collected during the drilling program will be incorporated into the engineering design. And the PFS will become the principal technical document that supports the substantive Fast-Track application, the document that the expert panel will evaluate when it makes its determination.

For investors who track the intersection of high-grade geology, critical-mineral exposure, institutional-quality permitting frameworks, and dual-asset optionality, the window between now and the Q4 2026 PFS completion may be the most important in determining how the market prices the RUA GOLD story going forward.

CONTINUED... Learn more about RUA GOLD Inc. at: https://ruagold.com

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Article Sources

[1] RUA GOLD Inc. -- "RUA GOLD's Auld Creek Project Qualifies for New Zealand's 6-Month Fast-Track Approvals Process" (July 30, 2026; Fast-Track designation confirmed, national significance, six-month expert panel review, PFS Q4 2026 target, 800 stakeholder engagements, Mining One and Pitch Black as PFS consultants, NZ$240M regional economic contribution, 200 jobs, substantive application later 2026; TSX: RUA, NZX: RGI, OTCQX: NZAUF, FSE: X9R).

[2] RUA GOLD Inc. -- "RUA GOLD Receives Approval to Commence Exploration Drilling at the Glamorgan Project on New Zealand's North Island" (August 4, 2026; drill approval received, three priority targets, 590 line-km UAV magnetic survey, 3,181 soil samples, Anomaly A 4.2 km strike, CSAMT resistivity results, TerraSpec clay mineral analysis, COO Simon Henderson quote, WKP proximity 3 km).

[3] RUA GOLD Inc. -- "RUA GOLD Appoints Tristan Kingcott to the Board of Directors" (June 25, 2026; nominated by Siren Gold Limited; Kingcott is MD/Portfolio Manager at Zeta Resources/ICM Limited; CFA Charterholder, University of Alberta; Chair Lennox-King quote).

[4] RUA GOLD Inc. -- Preliminary Economic Assessment (May 5, 2026; pre-tax IRR 69%, NPV US$979M at US$3,200/oz base case; pre-tax IRR 109%, NPV US$2.1B+ at spot price; 27,000 AuEq oz/yr, 5.5-year mine life); C$30M available cash following January 2026 financing.

[5] Snowline Gold Corp. -- C$150M bought deal financing announced August 5, 2026 (BMO Capital Markets led; C$14.50/share; closing approximately August 12, 2026); market cap approximately C$2.72B; PFS underway, Wood Canada as lead engineering consultant; GDXJ inclusion March 2026; TSX: SGD, OTCQB: SNWGF.

[6] McEwen Mining Inc. -- 2026 guidance approximately 195,000-225,000 gold equivalent ounces; Fox Complex (Stock Mine), Timmins, Ontario; El Gallo Mine, Mexico; high-grade underground gold production in tier-one jurisdictions; TSX: MUX, NYSE: MUX.

[7] Probe Gold Inc. -- Novador Gold Project, Abitibi Greenstone Belt, Quebec; major high-grade resource base; 2026 exploration program fully funded; institutional backing; TSX: PRB, OTCQX: PROBF.

[8] Hochschild Mining plc -- 2025 production approximately 350,000 gold equivalent ounces; EBITDA approximately US$350M; Inmaculada and Pallancata mines (Peru), San Jose mine (Argentina), Mara Rosa (Brazil, commercial production Q2 2024); high-grade underground precious metals producer; LSE: HOC, OTCQX: HCHDF.

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There may also be third parties who hold shares of RUA GOLD Inc. and may liquidate their shares, which could have a negative effect on the price of the stock. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in this publication is not trustworthy unless verified by their own independent research. Because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may lose some or all of your investment. Qualified Person Disclosure. The scientific and technical information in this article, including the Auld Creek Preliminary Economic Assessment and Mineral Resource Estimate, is derived from disclosure by RUA GOLD Inc. The qualified person for the Auld Creek NI 43-101 Technical Report is Simon Henderson of Mining One Consultants. Market Equities has not independently verified, and is not qualified to verify, the company's scientific or technical disclosure; readers should refer to the company's filed technical report and news releases for the complete data, assumptions, and qualified-person statements. Cautionary Note Regarding the Preliminary Economic Assessment. The Preliminary Economic Assessment (PEA) for the Auld Creek project referenced in this article is preliminary in nature. A PEA is a conceptual, early-stage economic study that includes inferred mineral resources, which are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the results of the PEA will be realized. The PEA does not constitute a mineral reserve, a Pre-Feasibility Study, or a Feasibility Study, and mineral resources that are not mineral reserves do not have demonstrated economic viability. The net present value, internal rate of return, production profile, mine life, and metal-price assumptions described are estimates only and may change materially in any subsequent study. Exploration and development are inherently uncertain, and there is no assurance that the drill program will expand the resource, that a Pre-Feasibility Study will confirm the PEA's economics, that Fast-Track referral or any permit will be granted, or that the project will be developed or achieve production. References to other companies' resources, reserves, production, financings, government loans, or economic studies describe those companies only and are not indicative of RUA GOLD's own prospects. Eagle Eye Disclosure. Eagle Eye is an investor signal-intelligence platform affiliated with the publisher of this article, and this reference constitutes promotion of an affiliated product. Eagle Eye is not a broker-dealer, and nothing in the platform or in this article is financial, investment, tax, or legal advice. Data provided in the platform is for informational purposes only and may be delayed. Always do your own research before making any investment decision.

Globe Newswire

August 11, 2026 - 6:20 AM PDT

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