RUBELLITE ENERGY INC. ANNOUNCES ELECTION OF DIRECTORS

CALGARY, AB, May 22, 2024 /CNW/ - (TSX:RBY) – Rubellite Energy Inc. ("Rubellite" or the "Corporation") is pleased to announce that the nominees listed in the management proxy circular dated April 4, 2024, were elected as directors of Rubellite. The detailed results of the vote for the election of directors held at its annual meeting of shareholders earlier today in Calgary, Alberta are set out below.

Election of Directors

Each of the following five nominees proposed by management was elected as a director of Rubellite:

Nominee	Votes For	% For	Votes Withheld	% Withheld
Susan L. Riddell Rose	41,598,555	99.756	101,752	0.244
Holly A. Benson	41,598,955	99.757	101,352	0.243
Tamara L. MacDonald	35,780,380	85.804	5,919,927	14.196
Ryan A. Shay	39,750,687	95.325	1,949,620	4.675
Bruce C. Shultz	41,602,887	99.766	97,420	0.234

ADDITIONAL INFORMATION

About Rubellite

Rubellite is a Canadian energy company engaged in the exploration, development and production of heavy crude oil from the Clearwater formation in Eastern Alberta, utilizing multi-lateral drilling technology. Rubellite has a pure play Clearwater asset base and is pursuing a robust organic growth plan focused on superior corporate returns and funds flow generation while maintaining a conservative capital structure and prioritizing environmental, social and governance ("ESG") excellence. Additional information on Rubellite can be accessed on the Company's website at www.rubelliteenergy.com or on SEDAR+ at www.sedarplus.ca.

The Toronto Stock Exchange has neither approved nor disapproved the information contained herein.

SOURCE Rubellite Energy Inc.

Rubellite Energy Inc., Suite 3200, 605 - 5 Avenue SW Calgary, Alberta, Canada T2P 3H5, Telephone: [phone], Fax: [phone], Email: [email protected]; Susan L. Riddell Rose, President and Chief Executive Officer; Ryan A. Shay, Vice President Finance and Chief Financial Officer