If a Ruger No.1 has the factory scope ring cuts NECG makes a Ruger specific that is lots cleaner looking than the one that mounts on a Weaver base. IIRC it is low enough to possibly work with the factory front sight, but not sure. It is not a long range target sight; it is a fine field/hunting sight.
If you have no factory 'cuts' you should see if Nodak, Skinner or Williams has a model that has the same ctr to ctr holes as the rearmost Weaver base and just replace it straight in.