RUGBY GRANTS INCENTIVE STOCK OPTIONS

Date:


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Vancouver, B.C., Feb. 24, 2022 (GLOBE NEWSWIRE) — Rugby
Mining
Limited
(“Rugby
or
the
Company)
(TSXV: RUG) declares that it has, topic to alternate approval, granted an combination 2,275,000 inventory choices to five administrators and 4 officers with an train value of $0.20. All choices granted are topic to vesting provisions and have a 5 yr time period.

About Rugby

Rugby is an exploration firm conducting “discovery stage” exploration on targets in Chile, Colombia, Argentina, the Philippines and Australia. The Firm’s focus is the potential discovery of a high-grade copper molybdenum porphyry system at Cobrasco in Colombia’s Choco Province and the potential discovery of high-grade silver-copper-gold on the Salvadora Venture in Central Chile’s El Indio Gold Belt. Rugby additionally controls a big portfolio of gold tasks and/or functions in Colombia that are transferring via the method for title grant. We intend to maneuver to expedite this course of the place potential.

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Rugby advantages from the expertise of its administrators and administration, a workforce that has both been straight liable for world-class mineral discoveries or has been a part of the administration groups liable for such discoveries. Prior firms below their administration embody Exeter Useful resource Company and Extorre Gold Mines Restricted, which held vital tasks in South America. These firms had been taken over by Goldcorp (Newmont) and Yamana respectively.

For extra info you’re invited to go to the Rugby Mining Restricted web site at www.rugbymining.com.

Rob Gray, VP, Company Communications
Tel: 604.688.4941 Fax: 604.688.9532                                 Suite 810, 789 West Pender St.
Toll-free: 1.855.688.4941                                        Vancouver, BC Canada V6C 1H2
information@rugbymining.com

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Sure of the statements made and data contained herein is “forward-looking info” inside the that means of the British Columbia, Alberta and Ontario Securities Acts. This contains statements in regards to the Firm’s proposed exploration plans for the Salvadora Venture in Chile or the Cobrasco Venture in Colombia, progress on acquiring approval for its exploration concession functions in Colombia, the anticipated timing of drilling and/or geophysics applications, budgeted prices to conduct exploration applications together with drilling, excessive grade potential and potential for mineral discoveries at its tasks and the fashion or incidence of the mineralization which contain identified and unknown dangers, uncertainties and different elements which can trigger the precise outcomes, efficiency or achievements of the Firm, or trade outcomes, to be materially completely different from any future outcomes, efficiency or achievements expressed or implied by such forward-looking info. The Firm holds sure of its tasks, together with Salvadora, below choice agreements, which require annual money funds, expenditure and/ or drilling necessities as a way to preserve its curiosity. Ought to the Firm not be capable of meet its obligations or renegotiate the agreements it’ll lose its rights below the choice settlement. Ahead-looking info is topic to a wide range of dangers and uncertainties which may trigger precise occasions or outcomes to vary from these mirrored within the forward-looking info, together with, with out limitation, the impact on costs of main mineral commodities resembling copper and gold by elements past the management of the Firm; occasions which can’t be precisely predicted resembling political and financial instability, terrorism, environmental elements and modifications in authorities laws and taxes; the scarcity of personnel with the requisite information and expertise to design and execute exploration applications; difficulties in arranging contracts for drilling and different exploration providers; the Firm’s dependency on fairness market financings to fund its exploration applications and preserve its mineral exploration properties in good standing; political threat {that a} authorities will change, interpret or implement mineral tenure, environmental laws, taxes or mineral royalties in a way that would have an opposed impact on the Firm’s belongings or monetary situation and impair its capability to advance its mineral exploration tasks or increase additional funds for exploration; dangers related to title to useful resource properties as a result of difficulties of figuring out the validity of sure claims in addition to the potential for issues arising from the interpretation of legal guidelines relating to possession or exploration of mineral properties within the Philippines, Argentina, Chile and Colombia and within the generally ambiguous conveyancing attribute of many useful resource properties, forex dangers related to overseas operations, the timing of acquiring permits to conduct exploration actions, the flexibility to conclude agreements with native communities and different dangers and uncertainties, the continued results of the COVID 19 pandemic and together with these described in every of the Firm’s administration dialogue and evaluation and people contained in its monetary statements for the yr ended February 28, 2021 filed with the Canadian Securities Directors and obtainable at www.sedar.com. As well as, forward-looking info is predicated on varied assumptions together with, with out limitation, assumptions related to exploration outcomes and prices and the provision of supplies and expert labour. Ought to a number of of those dangers and uncertainties materialize, or ought to underlying assumptions show incorrect, precise outcomes might range materially from these described in forward-looking statements. Accordingly, readers are suggested to not place undue reliance on forward-looking info. Besides as required below relevant securities laws, the Firm undertakes no obligation to publicly replace or revise forward-looking info, whether or not because of new info, future occasions or in any other case.

NEITHER 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

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