RUBELLITE ENERGY CORP. REPORTS FIRST QUARTER 2025 FINANCIAL AND OPERATING RESULTS

CALGARY, AB, Might 7, 2025 /CNW/ – RBY – Rubellite Power Corp. (“Rubellite” or the “Firm”), is happy to report its first quarter 2025 monetary and working outcomes and supply an operations and steerage replace.

Choose monetary and operational info is printed beneath and needs to be learn at the side of Rubellite’s unaudited condensed consolidated interim monetary statements and associated Administration’s Dialogue and Evaluation (“MD&A”) for the three months ended March 31, 2025, which can be found on the Firm’s web site at www.rubelliteenergy.com and SEDAR+ at www.sedarplus.ca.

This information launch accommodates sure specified monetary measures that aren’t acknowledged by GAAP and utilized by administration to guage the efficiency of the Firm and its enterprise. Since sure specified monetary measures could not have a standardized which means, securities laws require that specified monetary measures are clearly outlined, certified and, the place required, reconciled with their nearest GAAP measure. See “Non GAAP and Different Monetary Measures” on this information launch and within the MD&A for additional info on the definition, calculation and reconciliation of those measures. This information launch additionally accommodates forward-looking info. See “Ahead-Trying Data”. Readers are additionally referred to the opposite info underneath the “Advisories” part on this information launch for added info.

FIRST QUARTER 2025 HIGHLIGHTS

• Rubellite delivered report first quarter typical heavy oil gross sales manufacturing of 8,339 bbl/d that exceeded the excessive finish of steerage (3% above the mid-point of the steerage vary) and was up 8% relative to the fourth quarter of 2024 (This autumn 2024 – 7,754 bbl/d) and 85% relative to the primary quarter of 2024 (Q1 2024 – 4,514 bbl/d). First quarter whole gross sales manufacturing of 12,383 boe/d (70% heavy oil and NGL) was up 19% from the fourth quarter of 2024 (174% relative to Q1 2024) whereas additionally exceeding the excessive finish of steerage (2% above the mid-point of the steerage vary). Manufacturing progress quarter over quarter was pushed by the profitable drilling program at Determine Lake and Frog Lake and a full quarter impression of the Recombination Transaction which added a mean of three,708 boe/d to gross sales volumes (20.0 MMcf/d of typical pure fuel and 371 bbl/d of NGL). Ten (8.0 web) new wells had been introduced on manufacturing from the heavy oil drilling program and at Determine Lake the newly constructed fuel plant commenced operations on January 23, 2025 and added a mean of two.0 MMcf/d of answer fuel gross sales within the first quarter of 2025.
• Exploration and improvement capital expenditures⁽¹⁾ totaled $22.3 million for the primary quarter of 2025, in step with steerage of $22 to $24 million. First quarter spending included prices to drill, full, equip and tie-in 4 (4.0 web) multi-lateral horizontal improvement wells at Determine Lake, six (4.5 web) multi-lateral horizontal improvement wells at Frog Lake, one (0.3 web) waterflood injection nicely at Marten Hills and one (1.0 web) exploratory nicely. Included in first quarter improvement capital spending was $1.1 million for the Determine Lake fuel conservation challenge.
• Land and different spending totaled $2.5 million within the first quarter of 2025 to amass 13.0 web sections of land and included $0.4 million of spending on seismic purchases. A further $0.8 million (Q1 2024 – $0.1 million) was spent on decommissioning, abandonment and reclamation actions.
• Adjusted funds circulate⁽¹⁾ was up 94% to $35.9 million, and up 30% on a per share foundation to $0.39 per share, relative to the primary quarter of 2024 (Q1 2024 – $18.5 million; $0.30 per share). Quarter-over-quarter, adjusted funds circulate, after transaction prices was up 14% and eight% on a per share foundation (This autumn 2024 – $31.6 million; $0.36 per share), which marks one other consecutive quarter of progress in adjusted funds circulate per share for the reason that inception of Rubellite.
• Money prices⁽¹⁾ had been $20.9 million or $18.76/boe within the first quarter of 2025 (Q1 2024 – $9.0 million or $21.86/boe; This autumn 2024 – $18.6 million or 19.45/boe).
• Web revenue was $1.2 million ($0.01 per share) within the first quarter of 2025 (Q1 2024 – $4.2 million web loss; This autumn 2024 – $26.7 million web revenue).
• Free funds circulate⁽¹⁾ of $11.0 million was pushed by adjusted funds circulate of $35.9 million exceeding capital expenditures together with land and different spending of $24.9 million, and was used to cut back web debt and different stability sheet obligations.
• As at March 31, 2025, web debt⁽¹⁾ was $147.7 million, a discount in web debt of $6.3 million from $154.0 million as at December 31, 2024.
• Rubellite had obtainable liquidity⁽¹⁾ at March 31, 2025 of $33.1 million, comprised of the $140.0 million borrowing restrict of Rubellite’s first lien credit score facility, much less present financial institution borrowings of $103.3 million and excellent letters of credit score of $3.6 million. Subsequent to the top of the quarter, excellent letters of credit score had been decreased by $2.2 million to $1.4 million, additional enhancing obtainable liquidity.

OPERATIONS UPDATE

Better Determine Lake (Determine Lake and Edwand)

Heavy oil manufacturing from the Better Determine Lake space averaged 5,426 bbl/d (100% heavy oil) in March 2025 and 5,325 bbl/d (100% heavy oil) for the primary quarter. Resolution fuel gross sales by means of the newly constructed fuel plant and fuel gathering system ramped up throughout the quarter, contributing 3.0 MMcf/d to whole manufacturing at Determine Lake in March 2025 of 5,922 boe/d (92% liquids).

Within the first quarter of 2025, Rubellite drilled and rig launched a complete of 4 (4.0 web) horizontal wells within the Better Determine Lake space, all focusing on the Wabiskaw Member of the Clearwater Formation with the 33 meter inter-leg spacing nicely design adopted within the latter half of 2024. Outcomes from the Q1 2025 capital program throughout the Better Determine Lake discipline achieved a mean IP30 of 286 bbl/d (3 wells) and IP60 of 260 bbl/d (2 wells), as in comparison with the McDaniel Tier 1 Kind Curve⁽²⁾ for the 33 meter spacing nicely design of IP30 177 bbl/d and IP60 169 bbl/d⁽¹⁾.

Constant manufacturing outcomes proceed to help the geologic mannequin and affirm the 243.0 web improvement drilling stock areas⁽³⁾, together with 96.2 web confirmed and possible undeveloped⁽²⁾⁽³⁾ booked areas. Below a one-rig program, which would offer for the drilling of 18 wells per yr, the situation rely at Determine Lake represents over 13 years of low-risk improvement drilling stock. 

With anticipated ongoing progress in heavy oil volumes, Rubellite is evaluating choices to handle further fuel volumes, together with growth of the fuel plant for elevated gross sales volumes in addition to short-term fuel storage right into a depleted reservoir. The Firm can also be advancing a novel pure fuel re-injection pilot at Determine Lake for enhanced oil restoration with an experimental nicely now configured on the 1-13 plant website.

As well as, throughout the first quarter Rubellite acquired 3D seismic to advance the analysis of an exploratory prospect within the Sparky formation to be drill prepared later in 2025 or early 2026.

Frog Lake

Manufacturing on the Frog Lake property averaged 2,471 bbl/d (100% heavy oil) web to Rubellite in March 2025 and a pair of,423 bbl/d (100% heavy oil) for the primary quarter.

The Firm switched its drilling operations at Frog Lake in December 2024 to make the most of Oil-Based mostly Mud (“OBM”), and subsequently drilled and rig launched six (4.5 web) horizontal wells within the first quarter of 2025 at North Frog Lake, focusing on the Waseca Sand of the Mannville Stack. The OBM trial at Frog Lake is predicted to verify the advantages of utilizing OBM fluid in keeping with Rubellite’s operations at Determine Lake, the place the usage of OBM has improved gap cleansing and stability, accelerated the time to stabilized reservoir manufacturing, and decreased drill pipe put on, water dealing with and disposal prices as in comparison with typical water-based mud methods.

Outcomes from the Q1 2025 capital program at Frog Lake achieved a mean IP30 and IP60 of 154 bbl/d (4 wells⁽¹⁾) and 140 bbl/d (3 wells) respectively, as in comparison with the McDaniel Waseca North Kind Curve⁽²⁾ IP30 and IP60 of 107 bbl/d and 104 bbl/d established utilizing historic information obtained from wells drilled with water-based mud methods. Alongside the preliminary manufacturing outcomes, drilling prices, fluid losses, and OBM restoration charges for re-use within the drilling of subsequent wells have all been encouraging, and the Firm is constant to make the most of OBM in its ongoing drilling operations at Frog Lake.

Along with continued drilling of the Waseca sand as the first improvement zone at Frog Lake, the Firm is planning a number of exploratory analysis wells in 2025 and 2026 utilizing an alternate nicely design to check the much less consolidated Basic Petroleum and Sparky sands. Learnings from these wells will verify sort curve assumptions, and inform mapping parameters and applicable geological cutoffs for future financial improvement of those further zones within the Mannville Stack.

Marten Hills

The Firm rig launched its first water injection nicely at Marten Hills in late February, and pending routine regulatory approvals, expects to begin waterflood operations throughout the second quarter. Worth is predicted to be realized by means of decreased water dealing with prices, decreased manufacturing declines and enhanced reserve recoveries. 

Different Exploration

Along with exploration actions within the Basic Petroleum and Sparky zone at Frog Lake and the Sparky prospect at Determine Lake, the Firm is constant to advance a number of further new enterprise exploration prospects, pursuing each land seize and play idea de-risking actions whereas minimizing its risked capital publicity.

 

OUTLOOK AND GUIDANCE

For the remaining three quarters of 2025, Rubellite has budgeted to spend a complete of $73 to $88 million totally on the exploration and improvement drilling program, excluding expenditures on land and abandonment and reclamation actions, which is unchanged from earlier steerage. Deliberate capital exercise on the low finish of the spending steerage vary contains: drilling a further fifteen (15.0 web) multi-lateral improvement / step-out wells within the Better Determine Lake space; drilling a further eighteen (9.5 web) multi-lateral wells within the Frog Lake space, together with no less than one (0.5 web) nicely to guage the Basic Petroleum zone within the Mannville Stack; capital to broaden the Determine Lake fuel conservation challenge together with further plant optimization and pipeline tie-ins; participation within the drilling of 4 (2.0 web) wells at East Edson; spending to proceed to guage further heavy oil exploration prospects and advance enhanced oil restoration.

If market situations warrant, the Firm will contemplate increasing its deliberate exercise ranges to the excessive finish of the spending steerage vary which might additional develop manufacturing ranges into 2026. Nonetheless, with the current vital decline in oil costs, the Firm is monitoring its capital spending plans and evaluating lowering its second half 2025 capital program. The Firm will proceed to attempt for significant per nicely capital value reductions to drive engaging charges of return and payout durations, and can handle its capital spending to prioritize free funds circulate technology over manufacturing progress in a weak oil worth atmosphere.

Heavy oil gross sales volumes based mostly on the present funds are anticipated to develop 44% to 48% year-over-year to common between 8,200 – 8,400 bbl/d in 2025. Complete manufacturing gross sales volumes, together with pure fuel and NGL volumes at East Edson and answer fuel gross sales at Determine Lake, are forecast to common 12,200 – 12,400 boe/d in 2025.

Forecasted exercise will likely be funded from adjusted funds circulate⁽¹⁾, with extra free funds circulate⁽¹⁾ utilized to cut back web debt⁽¹⁾ and different stability sheet obligations. Aided by Rubellite’s in depth commodity worth danger administration positions, the Firm continues to forecast robust adjusted funds circulate and free funds circulate by means of the second and third quarters of 2025 based mostly on the ahead marketplace for commodity costs as at Might 7, 2025.

Rubellite will proceed to handle finish of life ARO, with whole abandonment and reclamation expenditures of roughly $1.1 million deliberate for the ultimate three quarters of 2025. Together with the $0.8 million of asset retirement obligation spending within the first quarter, the Firm is on observe to exceed its area-based necessary spending requirement for 2025 of $1.7 million, as calculated by the Alberta Power Regulator (“AER”).

Capital spending and drilling exercise for 2025 is summarized within the desk beneath:

Rubellite’s capital spending, drilling and operational steerage for the second quarter and full yr 2025 are introduced within the desk beneath:

SUMMARY OF QUARTERLY RESULTS

ABOUT RUBELLITE

The Firm is a Canadian power firm headquartered in Calgary, Alberta which, by means of its working subsidiary, Rubellite Power Inc. is engaged within the exploration, improvement, manufacturing and advertising and marketing of its diversified asset portfolio which incorporates heavy crude oil from the Clearwater and Mannville Stack Formations in Jap Alberta using multi-lateral drilling know-how, liquids-rich typical pure fuel belongings within the deep basin of West Central Alberta, and undeveloped bitumen leases in Northern Alberta. The Firm is pursuing a sturdy natural progress plan centered on superior company returns and funds circulate technology whereas sustaining a conservative capital construction and prioritizing operational excellence. Further info on the Firm will be accessed on the Firm’s web site at www.rubelliteenergy.com or on SEDAR+ at www.sedarplus.ca.

The Toronto Inventory Trade has neither accredited nor disapproved the data contained herein.

ADVISORIES

BOE VOLUME CONVERSIONS

Barrel of oil equal (“boe”) could also be deceptive, significantly if utilized in isolation. In accordance with NI 51-101, a conversion ratio for typical pure fuel of 6 Mcf:1 bbl has been used, which relies on an power equivalency conversion methodology primarily relevant on the burner tip and doesn’t symbolize a worth equivalency on the wellhead. As well as, using a conversion on a 6 Mcf:1 bbl foundation could also be deceptive as an indicator of worth as the worth ratio between typical pure fuel and heavy crude oil, based mostly on the present costs of pure fuel and crude oil, differ considerably from the power equivalency of 6 Mcf:1 bbl.

ABBREVIATIONS

The next abbreviations used on this information launch have the meanings set forth beneath:

INDUSTRY METRICS

This information launch accommodates sure trade metrics which don’t have standardized meanings or commonplace strategies of calculation and subsequently such measures is probably not corresponding to comparable measures utilized by different corporations and shouldn’t be used to make comparisons. Such metrics have been included on this doc to supply readers with further measures to guage Rubellite’s efficiency; nevertheless, such measures usually are not dependable indicators of Rubellite’s future efficiency and future efficiency could not examine to Rubellite’s efficiency in earlier durations and subsequently such metrics shouldn’t be unduly relied upon.

INITIAL PRODUCTION RATES

Any references on this information launch to preliminary manufacturing charges are helpful in confirming the presence of hydrocarbons; nevertheless, such charges usually are not determinate of the charges at which such wells will proceed manufacturing and decline thereafter and usually are not essentially indicative of long-term efficiency or final restoration. Readers are cautioned to not place reliance on such charges in calculating the mixture manufacturing for the Firm. Such charges are based mostly on discipline estimates and could also be based mostly on restricted information obtainable right now.

ESTIMATED DRILLING LOCATIONS

Of the 316.2 web heavy oil drilling improvement areas disclosed on this information launch, 93.1 web are proved and 45.6 web are possible undeveloped areas within the McDaniel year-end 2024 reserve report. There are 9.5 web confirmed pure fuel areas and 4.4 web possible pure fuel areas within the McDaniel year-end reserve report. Unbooked drilling areas are the inner estimates of Rubellite based mostly on Rubellite’s or the acquired belongings potential acreage and an assumption as to the variety of wells that may be drilled per part based mostly on trade observe and inner overview. Unbooked areas don’t have attributed reserves or sources (together with contingent and potential). Unbooked areas have been recognized by Rubellite’s administration as an estimation of Rubellite’s multi-year drilling actions based mostly on analysis of relevant geologic, seismic, engineering, manufacturing and reserves info. There isn’t any certainty that Rubellite will drill all unbooked drilling areas and if drilled there is no such thing as a certainty that such areas will end in further oil and pure fuel reserves, sources or manufacturing. The drilling areas on which Rubellite will really drill wells, together with the quantity and timing thereof is in the end dependent upon the supply of funding, regulatory approvals, seasonal restrictions, oil and pure fuel costs, prices, precise drilling outcomes, further reservoir info that’s obtained and different elements. Whereas a sure variety of the unbooked drilling areas have been de-risked by Rubellite drilling present wells in relative shut proximity to such unbooked drilling areas, nearly all of different unbooked drilling areas are farther away from present wells the place administration of Rubellite has much less details about the traits of the reservoir and subsequently there may be extra uncertainty whether or not wells will likely be drilled in such areas and if drilled there may be extra uncertainty that such wells will end in further oil and fuel reserves, sources or manufacturing.

NON-GAAP AND OTHER FINANCIAL MEASURES

All through this information launch and in different supplies disclosed by the Firm, Rubellite employs sure measures to research monetary efficiency, monetary place and money circulate. These non-GAAP and different monetary measures don’t have any standardized which means prescribed underneath IFRS and subsequently is probably not corresponding to comparable measures introduced by different entities. The non-GAAP and different monetary measures shouldn’t be thought of to be extra significant than GAAP measures that are decided in accordance with IFRS, akin to web revenue (loss), money circulate from (utilized in) working actions, and money circulate from (utilized in) investing actions, as indicators of Rubellite’s efficiency.

Non-GAAP Monetary Measures

Capital Expenditures: Rubellite makes use of capital expenditures associated to exploration and improvement to measure its capital investments in comparison with the Firm’s annual capital budgeted expenditures. Rubellite’s capital funds excludes acquisition and disposition actions.

Essentially the most immediately comparable GAAP measure for capital expenditures is money circulate utilized in investing actions. A abstract of the reconciliation of money circulate utilized in investing actions to capital expenditures, is about forth beneath:

Money prices: Money prices are comprised of web working prices, transportation, common and administrative, and money finance expense as detailed beneath. Money prices per boe is calculated by dividing money prices by whole manufacturing offered within the interval. Administration believes that money prices help administration and buyers in assessing Rubellite’s effectivity and general value construction.

Working netbacks and whole working netbacks, after danger administration contracts: Working netback is calculated by deducting royalties, web working bills, and transportation prices from oil and pure fuel income. Working netback can also be calculated on a per boe foundation utilizing whole manufacturing offered within the interval. Complete working netbacks, after danger administration contracts, is introduced after adjusting for realized features or losses from danger administration contracts. Rubellite considers working netback and working netback after danger administration contracts to be key trade efficiency indicators that gives buyers with info that can also be generally introduced by different oil and pure fuel producers. Rubellite presents the working netback at a CGU degree because it offers buyers with key info associated to the heavy oil CGU which is the realm the place progress capital funding is concentrated. Working netback and working netback, after danger administration contracts, consider operational efficiency because it demonstrates its profitability relative to realized and present commodity costs.

Web working prices: Web working prices equals working bills web of different revenue, which is made up of processing income and different one time gadgets occasionally. Administration views web working prices as an necessary measure to guage its operational efficiency. Essentially the most immediately comparable IFRS measure for web working prices is manufacturing and working bills.

The next desk reconciles web working prices from manufacturing and working bills and different revenue within the Firm’s consolidated assertion of revenue (loss) and complete revenue (loss).

Web Debt and Adjusted Working Capital Deficit: Rubellite makes use of web debt as a substitute measure of excellent debt and is calculated by including borrowings underneath the credit score facility and time period mortgage debt much less adjusted working capital. Adjusted working capital is calculated by including money, accounts receivable, pay as you go bills and deposits and product stock much less accounts payable and accrued liabilities. Administration considers web debt as an necessary measure in assessing the liquidity of the Firm. Web debt is utilized by administration to evaluate the Firm’s general debt place and borrowing capability. Web debt isn’t a standardized measure and subsequently is probably not corresponding to comparable measures introduced by different entities.

The next desk reconciles working capital and web debt as reported within the Firm’s statements of economic place:

Adjusted funds circulate: Adjusted funds circulate is calculated based mostly on web money flows from working actions, excluding adjustments in non-cash working capital and expenditures on decommissioning obligations, different provisions and share-based compensation for the reason that Firm believes the timing of assortment, fee or incurrence of these things is variable. Expenditures on decommissioning and share based mostly compensation obligations could fluctuate from interval to interval and are managed as expenditures by means of the company budgeting course of which considers obtainable adjusted funds circulate. Administration makes use of adjusted funds circulate and adjusted funds circulate per boe as key measures to evaluate the power of the Firm to generate the funds essential to finance capital expenditures, expenditures on decommissioning obligations, expenditures on share based mostly compensation and meet its monetary obligations.

Adjusted funds circulate isn’t supposed to symbolize web money flows from working actions calculated in accordance with IFRS.

The next desk reconciles web money flows from working actions, as reported within the Firm’s statements of money flows, to adjusted funds circulate:

Free funds circulate: Free funds circulate is a vital measure that informs effectivity of capital spent and liquidity. Free funds circulate is calculated as adjusted funds circulate generated throughout the interval much less capital expenditures. Rubellite’s capital expenditures excluded non money gadgets and acquisitions and tendencies. Adjusted funds circulate and capital expenditures are non-GAAP monetary measures which have been reconciled to its most immediately comparable GAAP measure beforehand on this doc. By eradicating the impression of present interval capital expenditures from adjusted funds circulate, Rubellite screens its free funds circulate to tell selections akin to capital allocation and debt compensation.

The next desk exhibits the calculation of the removing of capital expenditures from adjusted funds flows pre transaction prices:

Accessible Liquidity: Accessible liquidity is outlined because the borrowing restrict underneath the Firm’s credit score facility, plus any money and money equivalents, much less any borrowings and letters of credit score issued underneath the credit score facility. Administration makes use of obtainable liquidity to evaluate the power of the Firm to finance capital expenditures, expenditures on decommissioning obligations and to satisfy its monetary obligations.

Non-GAAP Monetary Ratios

Rubellite calculates sure non-GAAP measures per boe because the measure divided by weighted common each day manufacturing. Administration believes that per boe ratios are a key trade efficiency measure of operational effectivity and one that gives buyers with info that can also be generally introduced by different crude oil and pure fuel producers. Rubellite additionally calculates sure non-GAAP measures per share because the measure divided by excellent frequent shares.

Common realized oil worth after danger administration contracts: are calculated as the typical realized worth much less the realized acquire or loss on danger administration contracts.

Adjusted funds circulate per share: adjusted funds circulate per share is calculated utilizing the weighted common variety of primary and diluted shares excellent utilized in calculating web revenue (loss) per share.

Adjusted funds circulate per boe: Adjusted funds circulate per boe is calculated as adjusted funds circulate divided by whole manufacturing offered within the interval.

Web debt to adjusted funds circulate ratio: Web debt to adjusted funds circulate ratios are calculated on a trailing twelve-month foundation.

Web debt to annualized adjusted funds circulate ratio: Web debt to annualized adjusted funds circulate ratios are calculated by annualizing the present quarter adjusted funds circulate after transaction prices.

Supplementary Monetary Measures 

“Realized oil worth” is comprised of whole oil income, as decided in accordance with IFRS, divided by the Firm’s whole gross sales oil manufacturing on a per barrel foundation.

“Realized pure fuel worth” is comprised of pure fuel commodity gross sales from manufacturing, as decided in accordance with IFRS, divided by the Firm’s pure fuel gross sales manufacturing.

“Realized NGL worth” is comprised of NGL commodity gross sales from manufacturing, as decided in accordance with IFRS, divided by the Firm’s NGL gross sales manufacturing.

“Royalties as a proportion of income” is comprised of royalties, as decided in accordance with IFRS, divided by oil income from gross sales oil manufacturing as decided in accordance with IFRS.

“Web working expense per boe” is comprised of web working expense, divided by the Firm’s whole gross sales manufacturing.

“Transportation value ($/boe)” is comprised of transportation value, as decided in accordance with IFRS, divided by the Firm’s whole gross sales oil manufacturing.

“Basic & administrative prices ($/boe)” is comprised of G&A expense, as decided in accordance with IFRS, divided by the Firm’s whole gross sales oil manufacturing.

“Heavy oil wellhead differential ($/bbl)” represents the differential the Firm receives for promoting its heavy crude oil manufacturing relative to the Western Canadian Choose reference worth (Cdn$/bbl) previous to any worth or danger administration actions.

FORWARD-LOOKING INFORMATION 

Sure info on this information launch together with administration’s evaluation of future plans and operations, and together with the data contained underneath the headings “Operations Replace” and “Outlook and Steering” could represent forward-looking info or statements (collectively “forward-looking info”) underneath relevant securities legal guidelines. The forward-looking info contains, with out limitation, statements with respect to: future capital expenditures, manufacturing and varied value forecasts; the anticipated sources of funds for use for capital spending; expectations as to future exploration, improvement and drilling exercise, and the advantages to be derived from such drilling together with drilling strategies and manufacturing progress; Rubellite’s marketing strategy; and together with the forward-looking info contained underneath the heading “Outlook and Steering” and “About Rubellite”.

Ahead-looking info relies on present expectations, estimates and projections that contain a lot of recognized and unknown dangers, which may trigger precise outcomes to fluctuate and in some situations to vary materially from these anticipated by Rubellite and described within the forward-looking info contained on this information launch. Specifically and with out limitation of the foregoing, materials elements or assumptions on which the forward-looking info on this information launch relies embrace: the profitable operation of the Firm’s belongings, forecast commodity costs and different pricing assumptions; forecast manufacturing volumes based mostly on enterprise and market situations; international change and rates of interest; near-term pricing and continued volatility of the market; accounting estimates and judgments; future use and improvement of know-how and related anticipated future outcomes; the power to acquire regulatory approvals; the profitable and well timed implementation of capital initiatives; skill to generate ample money circulate to satisfy present and future obligations and future capital funding necessities (fairness or debt); the power of Rubellite to acquire and retain certified employees and gear in a well timed and cost-efficient method, as relevant; the retention of key properties; forecast inflation, provide chain entry and different assumptions inherent in Rubellite’s present steerage and estimates; local weather change; extreme climate occasions (together with wildfires and drought); the continuance of present tax, royalty, and regulatory regimes; the accuracy of the estimates of reserves volumes; skill to entry and implement know-how essential to effectively and successfully function belongings; danger of wars or different hostilities or geopolitical occasions (together with the continuing warfare in Ukraine and conflicts within the Center East), civil rebel and pandemics; dangers referring to Indigenous land claims and responsibility to seek the advice of; information breaches and cyber assaults; dangers referring to the usage of synthetic intelligence; adjustments in legal guidelines and laws, together with however not restricted to tax legal guidelines, royalties and environmental laws (together with greenhouse fuel emission discount necessities and different decarbonization or social insurance policies) and together with uncertainty with respect to the interpretation of omnibus Invoice C-59 and the associated amendments to the Competitors Act (Canada), and the interpretation of such adjustments to the Firm’s enterprise); political, geopolitical and financial instability; commerce coverage, limitations, disputes or wars (together with new tariffs or adjustments to present worldwide commerce necessities and common financial and enterprise situations and markets, amongst others.

Undue reliance shouldn’t be positioned on forward-looking info, which isn’t a assure of efficiency and is topic to a lot of dangers or uncertainties, together with with out limitation these described herein and underneath “Danger Components” within the Firm’s Annual Data Type and MD&A for the yr ended December 31, 2023 (and as soon as filed underneath “Danger Components” in Rubellite’s Annual Data Type and MD&A for the yr ended December 31, 2024) and in different studies on file with Canadian securities regulatory authorities which can be accessed by means of the SEDAR+ web site www.sedarplus.ca and at Rubellite’s web site www.rubelliteenergy.com. Readers are cautioned that the foregoing record of danger elements isn’t exhaustive. Ahead-looking info relies on the estimates and opinions of Rubellite’s administration on the time the data is launched, and Rubellite disclaims any intent or obligation to replace publicly any such forward-looking info, whether or not because of new info, future occasions or in any other case, apart from as expressly required by relevant securities regulation.

SOURCE Rubellite Power Corp.