Rover Metals Presents Press Release to Shareholders

Dear Shareholders,

You’re receiving this email as you are amongst our seed and IPO shareholder group. First off, I wanted to thank you again for all of your support in helping to get Rover Metals to where we are today.

Today we announced our intent to acquire the Toquima Project in Nevada, USA. Our technical team has valued the historical resource at Toquima as follows:

  • 200,000 ounces gold (at or near surface)
  • 40,000,000 ounces silver (at our near surface)

Kinross has been operating the Round Mountain mine (16MM ounces Au produced) nearby since 2003. Toquima lies on the same Caldera Margin approx. 15 km away. We see significant blue sky potential for gold exploration.

The business case for the Toquima Acquisition is that Rover needs to address the following issues:

  1. Acquire a lower cost per meter exploration project to offset the more expensive exploration costs of our existing NWT, Canada assets. Even with a high-grade gold northern project (Cabin Lake), a southern asset is needed.
  2. A U.S. asset is now needed to follow completion of U.S. listing (Q1 completed)
    1. A subset of this is access to U.S. retail capital to finance future exploration and growth along with the additional liquidity of the U.S. market
    2. Canadian capital markets for Sub $10MM market cap companies remain weak. We intend to try to finance our NWT assets through Flow-through funds later this business quarter.
  3. Address seasonality issues of our existing NWT assets. The Toquima Project is available for year-round exploration. December to mid-April is the most cost-effective window to be operating our NWT projects.
  4. Feed the Public Markets News Machine with year-end exploration news.

We are currently offering a $0.06 Unit Financing with a Full Warrant (at $0.12 for five years). If you have interest (for example, in averaging down your position), please let me know.

Judson Culter, CPA, CA, CPA(WA)
CEO | Rover Metals