Rupert Resources Announces the Succession of the Chief Executive Officer

Rhea-AI Summary

Rupert Resources announces a significant leadership change, with Graham Crew appointed as the new Chief Executive Officer and Director, effective October 14, 2024. Crew will succeed James Withall, who has led the company since April 2017 and will step down from the Board but continue as an advisor. Under Withall's tenure, Rupert Resources made a major greenfield gold discovery at Ikkari, now progressing towards development as a long-life, high-margin project.

Graham Crew brings over 25 years of international mining experience, most recently as Chief Technical Officer for La Mancha Resource Capital. His expertise in operations, project development, and corporate strategy aligns with Rupert's next phase of growth, focusing on engineering, permitting, and stakeholder engagement for the Ikkari project in northern Finland.

Positive

• Appointment of Graham Crew as new CEO, bringing extensive experience in mining operations and project development
• Ikkari project progressing towards development as a long-life, high-margin cornerstone project
• Company's focus on value creation and returns for all stakeholders
• Strong foundations built through stakeholder relationships and company culture
• Continued commitment to exploration and resource expansion at Ikkari

Negative

• Departure of current CEO James Withall, potentially leading to short-term leadership transition challenges

TORONTO--(BUSINESS WIRE)-- Rupert Resources Ltd. (“Rupert” or the “Company”) announces an upcoming senior management change with the appointment of Graham Crew as the new Chief Executive Officer and Director effective from October 14, 2024, to lead the next stage of development of Rupert Resources.

Mr Crew will succeed James Withall, who joined the company as Chief Executive Officer (“CEO”) in April 2017 and has decided to step down. Mr Withall will continue to act as an advisor to the Company and the Board led Technical Committee ensuring a smooth transition for the incoming CEO, after stepping down from the Board of Directors on October 14, 2024.

James Withall, outgoing CEO commented: “The past seven years have been incredibly rewarding and I am extremely proud of what we have achieved. The company has undergone a transformative change, having made one of the most significant greenfield gold discoveries of the past ten years, and Ikkari is now well on the path towards development of a long-life, high-margin cornerstone project on which to build a leading natural resource company. At Rupert we focus on value creation and returns for all stakeholders, a key element in achieving that goal is having the right people in the right positions at the right time. We have been able to attract a very talented team who share a vision of exploring for meaningful mineral deposits and developing modern, future-fit mining operations in northern Finland. Graham is ideally qualified to provide the leadership and technical experience to further the success of the Company through the critical engineering and permitting phases. As a long-term investor in the mining sector, I strongly believe that succession in senior roles is an important driver of the success of a business, bringing new ideas and ensuring the necessary skills are in place to lead the critical investment decisions that are required. I look forward to seeing Graham and the team continue to add value to Rupert Resources through further exploration discovery and the development of a best-in-class mine of the future.”

Gunnar Nilsson, Non Executive Chairman: “I would like to thank James for the leadership and vision he has brought to Rupert Resources. The strategy to undertake large scale regional systematic exploration in a timely, disciplined and dynamic way delivered the 4Moz Ikkari discovery and a number of other grassroots gold discoveries demonstrating the geological and economic potential of the Rupert land holdings. Furthermore, the culture and values that have been built with the team and relationships the company has developed with stakeholders under his tenure provides strong foundations for the future. The Board of Rupert Resources is very pleased to welcome Graham Crew to the Company. His extensive experience in operations, project development and most recently as a Chief Technical Officer for the La Mancha group are key requirements for leading the company through the next stage of its evolution. He brings strong leadership experience matched with an understanding of the importance to focus on shareholder returns and stakeholder engagement from multiple international roles. Exploration and adding to the critical mass of resources of Ikkari will remain a key part of the business model.”

Biography of Graham Crew

Graham Crew has over 25 years of experience in international mining management, corporate development and investment across a diverse range of jurisdictions and operations. Before joining Rupert Resources, he was Chief Technical Officer for La Mancha Resource Capital. Prior to this he was Chief Operating Officer and a Director at Golden Star Resources Limited and previously Operations Manager for La Mancha Resources Australia Limited during the expansion of Frog's Leg mine and the development of Whitefoil mine and the Mungari Processing Facility. Graham holds a B.Eng (Mining Engineering) from the West Australian School of Mines (WASM), is a Member of the Australian Institute of Corporate Directors (MAICD) and a Fellow of the Australasian Institute of Mining & Metallurgy (FAusIMM).

Graham Crew: "I am delighted to be joining Rupert Resources at such an exciting time in the company’s development. James and the team have done a tremendous job bringing Ikkari from discovery to the development stage, with exciting opportunities for further growth in the region. I am eager to join the team and help develop a best-in-class operation at Ikkari, building on a strong platform to create a leading mining business."

About Rupert Resources

Rupert Resources is a gold exploration and development company listed on the TSX Exchange under the symbol “RUP.” The Company is focused on making and advancing discoveries of scale and quality with high margin and low environmental impact potential. The Company’s principal focus is Ikkari, a new high quality gold discovery in Northern Finland. Ikkari is part of the Company’s “Rupert Lapland Project,” which also includes the Pahtavaara gold mine, mill, and exploration permits (“Pahtavaara”).

Neither the TSX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX 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 and 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 29, 2024 available here. 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. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company does not intend, and does not assume any obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240828783824/en/

For further information, please contact:

James Withall

Chief Executive Officer

jwithall@rupertresources.com

Thomas Credland

Head of Corporate Development

tcredland@rupertresources.com

Rupert Resources Ltd

82 Richmond Street East, Suite 203, Toronto, Ontario M5C 1P1

Tel: +1 416-304-9004

Web: http://rupertresources.com/

Source: Rupert Resources Ltd

FAQ

When will Graham Crew become the new CEO of Rupert Resources (RUPRF)?

Graham Crew will become the new CEO and Director of Rupert Resources (RUPRF) effective October 14, 2024.

What is the Ikkari project mentioned in Rupert Resources' (RUPRF) announcement?

The Ikkari project is a significant greenfield gold discovery made by Rupert Resources (RUPRF), described as a 4Moz deposit that is being developed as a long-life, high-margin cornerstone project in northern Finland.

What is Graham Crew's background before joining Rupert Resources (RUPRF)?

Before joining Rupert Resources (RUPRF), Graham Crew was the Chief Technical Officer for La Mancha Resource Capital and has over 25 years of experience in international mining management, corporate development, and investment.

What will happen to James Withall after stepping down as CEO of Rupert Resources (RUPRF)?

After stepping down as CEO and from the Board of Directors on October 14, 2024, James Withall will continue to act as an advisor to Rupert Resources (RUPRF) and the Board-led Technical Committee to ensure a smooth transition.