Financial Results for the Three Months Ending March 31, 2026

TORONTO – Rupert Resources Ltd. (TSX: RUP, OTCQX: RUPRF, FSE: R05) (“Rupert” or “Company”) is pleased to announce that it has published its unaudited financial results for the three months ended March 31, 2026 and management’s discussion and analysis for the same period.

Both of the above are posted on the Company’s website at www.rupertresources.com and on the Company’s profile on SEDAR+ at www.sedarplus.ca.

All currency references in this press release are in Canadian dollars, unless otherwise specified.

• In February 2026, Ausenco Engineering (“Ausenco”) was appointed to lead the Ikkari Project Feasibility Study (“FS“).
• Revised guidance was also issued on project milestones; Environmental Impact Assessment (“EIA”) targeted for Q4 2026, with FS completion expected in H1 2027. Due to the announcement of the Work with Agnico Eagle (each as described below) on April 20, 2026, (see below) the timing of these project milestones may change.
• Cash and cash equivalents of $89 million as of March 31, 2026.

• On April 20, 2026 the Company announced that it had entered into a definitive arrangement agreement (the “Arrangement Agreement”) with Agnico Eagle Mines Limited (NYSE: AEM, TSX: AEM) (“Agnico Eagle”) pursuant to Agnico Eagle having agreed to acquire all of the outstanding common shares of Rupert (the “Rupert Assignments”) has not yet become its owner in the form of a plan under Business Companies Law (British Columbia)What is being done“).
• Under the terms of the Transaction, each Rupert Share will be exchanged for: (i) the prior consideration of 0.0401 of an Agnico Eagle common share (“Agnico Share”), representing approximately $12.00 based on the five-day volume-weighted trading price per Agnico share as of April 17, 2026 (the “Share Thoughtfully”); and (ii) a contingent consideration of up to $3.00, in the form of a contingent value (“CVR” and consider sharing, “Consideration“), payable in cash at certain milestones achieved over the 10-year term of CVR. CVR’s milestones, which relate to the drilling rights currently owned by Rupert 100% (the “Acquired Properties”), reads as follows:
  • $1.00 for the public announcement of at least 5 million ounces of gold mineral reserves in Acquired Properties;
  • $1.00 for public announcement of: (i) Acquired Properties reaching commercial production and (ii) Acquired Properties reaching 7.5 million ounces of gold in mineralization and production; again
  • $1.00 for public announcement of: (i) Acquired Properties reaching commercial production and (ii) Acquired Properties reaching 10 million ounces of gold in mineralization and production.
• On May 7, 2026, the Supreme Court of British Columbia issued an interim injunction providing for the calling and holding of a meeting of the securities holders to approve the Transaction (the “The meeting”), granting dissenting rights and dealing with other procedural matters related to the conduct of the Assembly.
• Completion of the Transaction is subject to customary conditions, including, among other things, court approval and a vote of the security holder expected to take place at the Meeting to be held on or about June 9, 2026.
• Subject to the satisfaction of all closing conditions set forth in the Planning Agreement, the Project is expected to be completed by June 2026.

During the three months ended March 31, 2026, the Company spent $7,574,845 (three months ended March 31, 2025 – $6,872,366) for general inspection costs and the purchase of property, plant and equipment. As of March 31, 2026, Rupert had cash or cash equivalents of $89,004,509. The company recorded a net loss for the three months ended March 31, 2026 of $(2,839,702) (net income for the three months ended March 31, 2025 – $3,507,377 and a net loss per share of $(0.01) (three months ended March 201 – 2025)

Mr. Craig Hartshorne, Chartered Geologist and Fellow of the Geological Society of London, is the Qualified Person responsible for the accuracy of the scientific and technical information in this news release.

Rupert focuses on creating value for all stakeholders through the exploration and ongoing development of gold projects in the Lapland region of Northern Finland.