VANCOUVER, British Columbia, May 31, 2022 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO) (“Rover” or the “Company”) is pleased to provide an infrastructure update for its Cabin Gold Project and its Up Town Gold Project, located at the 60th parallel of the Northwest Territories of Canada.
NWT Infrastructure Initiatives The Government of Canada has moved one step closer to funding the expansion of the Taltson Hydro dam into the city of Yellowknife, NWT. In a recent interview with the CBC, the federal infrastructure minister provides an update on the project. One of the many benefits of bringing additional green power into the city of Yellowknife includes a more cost-effective source of power for the future mines being developed near the city. Green energy is also amongst the ESG initiatives that major gold producers are looking for when it comes to taking an interest in development-stage gold projects.
The expansion of the Taltson Hydro dam into the city of Yellowknife also has the potential to free up hydro at both the Strutt and Snare hydro facilities which are located close to Rover’s Cabin Gold, Slemon Gold, and Camp Gold Projects.
Mineral resource exploration, and the development of mines in the Northwest Territories, remains a priority of all levels of government (not just at the federal level). In 2021, Rover received two exploration grants from the territorial government to assist with advancing exploration at its Cabin Gold Project. Also in 2021, the federally funded Tlicho All Season Road (“TASR”) opened to the public. TASR connects the cities of Yellowknife and Hay River, via Highway NT3, to Rover’s Cabin Gold Project, Fortune Minerals’ NICO Project, and Nighthawk Gold’s Indin Lake Gold Project.
Collaboration between the government and the mining industry will continue to grow economic prospects for Northern Canada and will work towards the reinforcement of Canada’s northern sovereignty. As much of the world begins to look for more ethically sourced natural resources, companies like Rover Metals are investing heavily into exploration to build the mines of the future.https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1577000%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522Canada%253BProvinces_and_territories_of_Canada%253BGovernment_of_Canada%253BNorthwest_Territories%253BGold%253BYellowknife%253BCompany%253BVancouver%253BExploration%2522%252C%2522lmsid%2522%253A%2522a0770000002m0AbAAI%2522%252C%2522revsp%2522%253A%2522globenewswire.com%2522%252C%2522lpstaid%2522%253A%25225be403c1-59e4-385c-9bc8-6c6aa5f27790%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D
Q1-2022 Financial Package Rover is pleased to report that it has SEDAR filed its March 31, 2022 Financial Statements and Management Discussion and Analysis (“MD&A”). The MD&A includes management’s milestone for the first three months of the year.
Grant of Stock Options The Company has granted 500,000 incentive stock options to a new consultant of the Company. The options have a five-year life, and an exercise price of $0.06 per share. The options have been granted from the Company’s 10% rolling stock option plan, approved by its shareholders at its August 2021 Annual General Meeting.
About Rover Metals Rover is a precious metals exploration company specialized in North American (Canada and U.S.) precious metal resources, which is currently advancing the gold potential of its existing projects in the Northwest Territories of Canada (60th parallel), and north-central Nevada, USA. The Company owns five gold projects. Phase 3 Exploration at its Cabin Gold Project, 60th Parallel, NT, Canada, commenced in March 2022 and continues through to the date of this release. Phase 1 Exploration at its Tobin Gold Project commenced in May 2022 and continues through to the date of this release. Lastly, the Company, is also awaiting news from the Phase 2 Exploration Program at its Up Town Gold Project, in the Northwest Territories of Canada (60th parallel).
ON BEHALF OF THE BOARD OF DIRECTORS “Judson Culter” Chief Executive Officer and Director
For further information, please contact: Email: info@rovermetals.com Phone: +1 (778) 754-2617
Statement Regarding Forward-Looking Information This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Rover’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. There can be no assurance that such statements prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Rover’s expectations. Rover undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.
VANCOUVER, British Columbia, May 17, 2022 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO) (“Rover” or the “Company”) is pleased to announce that further to its March 21, 2022 release, and its April 26, 2022 release, the Company has now closed its $0.05 Unit Financing, raising gross proceeds of $1,991,260.
$0.05 Unit Financing On March 21, 2022, Rover closed the first tranche of the financing for gross proceeds of $1,180,510 (the “First Closing”). The First Closing was comprised of $1,044,000 worth of $0.05 Units, and $136,510 worth of $0.055 flow-through common shares. Each Unit is comprised of one common share and one half (1/2) of a warrant to purchase common shares. The warrants have an exercise price of $0.075 and a life of three years. On April 26, 2022, Rover closed the second tranche of the financing for gross proceeds of $467,500 (the “Second Closing”). The Second Closing was comprised of $412,500 worth of $0.05 Units, and $55,000 worth of $0.055 flow-through common shares.
Today the Company is announcing the third and final closing of its financing for gross proceeds $343,250.00 (the “Third Closing”). The Third Closing is comprised of $332,250 of $0.05 Units and $11,000 of $0.055 flow-through common shares. The proceeds from the Third Closing will be used for exploration at the Company’s Cabin Gold Project, and future working capital, including general and administrative expenses.
A total of $1,991,260 has been raised under the $0.05 Unit Financing, from all three closings, resulting in the issuance of 35,775,000 common shares and 17,887,500 warrants (excluding finder’s fee warrants), from the sale of Units, and the issuance of 3,682,000 common shares from the sale of flow-through shares (or a total issuance of 39,457,000 common shares and 17,887,500 warrants).
Finders’ commissions are being paid in connection with the $0.05 Unit Financing in the amount of cash commissions of $88,695.70 and finders’ warrants of 1,748,840. The finder’s warrants have an exercise price of $0.075 and a useful life of three years. The shares and warrants issued under the $0.05 Unit Financing, including Finder’s warrants, bear the minimum four-month regulatory hold period from the date of issuance at each closing.
About Rover Metals Rover is a precious metals exploration company specialized in North American (Canada and U.S.) precious metal resources, which is currently advancing the gold potential of its existing projects in the Northwest Territories of Canada (60th parallel), and north-central Nevada, USA. The Company owns five gold projects. Phase 3 Exploration at its Cabin Gold Project, 60th Parallel, NT, Canada, commenced in March 2022 and continues through to the date of this release. Phase 1 Exploration at its Tobin Gold Project commenced in May 2022 and continues through to the date of this release. Lastly, the Company, is also awaiting news from the Phase 2 Exploration Program at its Up Town Gold Project, in the Northwest Territories of Canada (60th parallel).
ON BEHALF OF THE BOARD OF DIRECTORS “Judson Culter” Chief Executive Officer and Director
For further information, please contact: Email: info@rovermetals.com Phone: +1 (778) 754-2617
Statement Regarding Forward-Looking Information This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Rover’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. There can be no assurance that such statements prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Rover’s expectations. Rover undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.
VANCOUVER, British Columbia, April 28, 2022 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO) (“Rover” or the “Company”) is pleased to announce that the Company’s CEO, Judson Culter, will be presenting Rover’s high-grade gold exploration story in northern Canada, including an overview of current operations and upcoming milestones, while sharing our most recent Investor Presentation. We invite all investors and other interested parties to register for the webinar at the link below. The discussion will include Rover’s plans for gold exploration in the Battle Mountain district of Nevada, USA, later this year.
HAVE QUESTIONS? Management will be available to answer your questions following the presentation on the webinar platform. You may submit your question(s) beforehand in the registration form or by email at: rover@rbmilestone.com
About Rover Metals Rover is a precious metals exploration company specialized in North American (Canada and U.S.) precious metal resources, which is currently advancing the gold potential of its existing projects in the Northwest Territories of Canada (60th parallel), and Nevada, USA. The Company owns five gold projects. Phase 3 Exploration at its Cabin Gold Project, 60th Parallel, NT, Canada, commenced in March 2022 and continues through to the date hereof.
You can follow Rover on its social media channels: Twitter: https://twitter.com/rovermetals LinkedIn: https://www.linkedin.com/company/rover-metals/ Facebook: https://www.facebook.com/RoverMetals/ for daily company updates and industry news, and YouTube: https://www.youtube.com/channel/UCJsHsfag1GFyp4aLW5Ye-YQ?view_as=subscriber for corporate videos. Website:https://www.rovermetals.com/https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1577000%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522Gold_mining%253BVancouver%253BNorthern_Canada%253BCanada%253BProvinces_and_territories_of_Canada%253BGlobeNewswire%253BCompany%2522%252C%2522lmsid%2522%253A%2522a0770000002m0AbAAI%2522%252C%2522revsp%2522%253A%2522globenewswire.com%2522%252C%2522lpstaid%2522%253A%252258c6081f-8c0e-3e30-bd82-3fe1156b415a%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D
ON BEHALF OF THE BOARD OF DIRECTORS “Judson Culter” Chief Executive Officer and Director
For further information, please contact: Email: info@rovermetals.com Phone: +1 (778) 754-2617
VANCOUVER, British Columbia, Feb. 14, 2022 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FRA:4XO) (“Rover” or the “Company”) is pleased to announce that Fundamental Research Corp. (“FRC”) has published their updated analyst report on Rover, dated January 2022. The report can be accessed here: https://www.researchfrc.com/company/rover-metals-corp/
FRC is one of the largest issuer-paid independent stock market research firms in the world, with a 17-year track record of covering 550+ companies. As of December 14, 2020, FRC’s top picks were up 55.6% on average since the initiation of coverage.
Judson Culter, CEO at Rover Metals, states “Rover Metals operates in a prolific mining jurisdiction in the southern Northwest Territories (“NT”). Three weeks ago, our neighbour, Fortune Minerals, announced its intent to acquire a refinery location north of Edmonton, AB. The infrastructure needed to bring the NT’s next gold mine into production, looks to soon be in place. The proposed location for Fortune’s NICO processing facility is located 40km northwest of Rover’s Cabin Gold Project, along the recently constructed Tlicho All Season Road (“TASR”). TASR opened to the public in November 2021. Rover plans to send samples of its drill core, from its Cabin Gold Project, to the lab for metallurgic testing in H1 of this year. The goal of the testing will be to determine the recovery flotation rates for the ore at Cabin. The next step, after receiving the metallurgical results, would be to work with Fortune to determine the possible economics of a processing agreement.
Winter Phase 3 Exploration, at our Cabin Gold Project, is expected to commence soon. The Company will be issuing an updating release in the coming days.”
Advisory Agreements The Company has issued 218,840 common shares, for the settlement of $12,500 in trade payables, for consulting services provided in Q4-2021, pursuant to pre-approved shares for services agreements. The services were provided by two advisors to the Company. Only one of these shares for services agreements will continue into 2022. The shares bear the minimum four-month regulatory hold period from the date of issuance.
Investor Relations The Company has renewed its agreement with Momentum Public Relations Inc. (“Momentum PR”) for investor relations services for another six months through to July 31, 2022. Pursuant to the renewal agreement, Momentum PR will be granted 600,000 incentive stock options, pursuant to the Company’s shareholder approved Stock Option Plan. The incentive stock options have been granted in three tranches as follows: 200,000 options with an exercise price of $0.06, 200,000 options with an exercise price of $0.075, and 200,000 options with an exercise price of $0.09.
About Rover Metals Rover is a precious metals exploration company specialized in North American precious metal resources, that is currently advancing the gold potential of its existing projects in the Northwest Territories of Canada (60th parallel). The Company commenced Phase 2 Exploration at its 100% owned Cabin Gold Project in Q3-2021, and the analysis and reporting of the Phase 2 Exploration work at Cabin Gold continues through to the date of this release. The Company anticipates commencing its Phase 3 Exploration Program at Cabin in March of this year.
ON BEHALF OF THE BOARD OF DIRECTORS “Judson Culter” Chief Executive Officer and Director
For further information, please contact: Email: info@rovermetals.com Phone: +1 (778) 754-2617
Statement Regarding Forward-Looking Information This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Rover’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. There can be no assurance that such statements prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Rover’s expectations. Rover undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.
Fundamental Research has just issued their updated Analyst Report based on the Phase 2 Exploration Results at Rover’s Cabin Gold project. For a copy of the report click here.
VANCOUVER, British Columbia, Jan. 25, 2022 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FRA:4XO) (“Rover” or the “Company”) is pleased to report on the Phase 2 Exploration Program at its 100% owned Cabin Gold Project, NT, Canada. In Q4-2021, Rover tested a ground induced polarized survey (“IP Survey”) over proven high-grade gold zones on the property. The test results indicated a positive correlation between IP Survey chargeability and the sulfide content in the Bugow Iron Formation. High-grade gold at Cabin is associated with elevated-sulfide concentration. The Company followed up the successful test survey, with an extensive ground IP Survey that covered the Beaver Zone, Andrew Zone, and the Camp Target. The Company is pleased to announce that one of the highlights of the IP Survey is a large anomaly that appears to extend the Beaver Zone 200 meters to the southeast (of the final drill hole of the 2021 drill program, CL-21-40), trending towards the high-grade Arrow Zone. On December 7, 2021 the Company released the results of its drilling at the Beaver Zone. Highlights from drilling at the Beaver Zone included 6.4 meters of 4.63 g/t Au (from 42.6m to 49.0m), including 2.6 meters of 7.80 g/t Au. Highlights of 2020 drilling at the Arrow Zone included 32 meters of 13.6 g/t Au.
IP Survey Comprehensive Results The Company is also pleased to be reporting on the discovery of three prominent IP anomalies: (1) the aforementioned Beaver Zone; (2) the Andrew South IP Target, and (3) the Camp IP Target. The dipole-dipole IP Survey comprised 25m station spacing along lines spaced 25 meters apart, with a 40m depth slice of chargeability.
Beaver Zone IP Anomaly The IP anomaly extending 200 meters to the southeast of drill hole CL-21-40 has never been drilled historically and provides exciting blue sky discovery potential to the project.
Andrew South IP Anomaly The Andrew South IP anomaly is located approximately 350 meters northeast of the Beaver Zone, close to the southern tip of the Andrew Zone. The IP anomaly appears to indicate the discovery of a new mineralized limb of the Bugow Iron Formation, and a new chargeable zone along that limb, trending from southeast to northwest parallel to both the Beaver Zone and the Andrew Zone. The Andrew South IP Anomaly has never been drilled historically and is another example of blue sky discovery potential at the project.
Camp IP Anomaly The historic Camp area exists along the primary limb of the Bugow Iron Formation, to the northwest of the Beaver Zone. This new IP anomaly has never been drilled historically, and again provides exciting blue sky discovery potential to the project.
Technical information in this news release has been approved by David White, P.Geo., Technical Advisor of Rover and a Qualified Person for the purposes of National Instrument 43-101.
Judson Culter, CEO at Rover Metals, states “we’re thrilled to have made the discovery of three new large IP anomalies at the Cabin Gold project. We’re hoping to test these new targets as part of our Phase 3 Exploration Program planned for Q1 of this year. None of these targets have been drilled historically. The possible extension of the Beaver Zone 200 meters to the southeast, presents us with an opportunity for another high-grade gold discovery.”
About Rover Metals Rover is a precious metals exploration company specialized in North American precious metal resources, that is currently advancing the gold potential of its existing projects in the Northwest Territories of Canada (60th parallel). The Company commenced Phase 2 Exploration at its 100% owned Cabin Gold Project in Q3-2021, and the analysis and reporting of the Phase 2 Exploration work at Cabin Gold continues through to the date of this release.
You can follow Rover on its social media channels:
ON BEHALF OF THE BOARD OF DIRECTORS “Judson Culter” Chief Executive Officer and Director
For further information, please contact: Email: info@rovermetals.com Phone: +1 (778) 754-2617
Statement Regarding Forward-Looking Information This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Rover’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. There can be no assurance that such statements prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Rover’s expectations. Rover undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.
VANCOUVER, British Columbia, Jan. 13, 2022 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FRA:4XO) (“Rover” or the “Company”) is pleased to report on the Phase 2 Exploration Program at its 100% owned Cabin Gold Project, NT, Canada. The focus of the Phase 2 Exploration Program was to discover and delineate new gold mineralized zones along the Bugow Iron Formation, the controlling structure for gold at the Cabin Gold Project. The Company is pleased to announce that its exploration program has been able to confirm and expand the historic gold grades at the Andrew South, Andrew Middle, and Andrew North Targets. The expansion includes an increase to the historical average gold grades reported across all of these historic targets. Rover has grouped the north, middle and south bounds of Andrew into a new single Andrew Zone, which extends 800 meters from south to north at surface. The map of the Bugow Iron Formation on the Company’s website has been updated to show the location of the new Andrew Zone. The south end of the Andrew Zone is situated roughly 500 meters northeast of the Beaver Zone. The Beaver Zone was featured in the Company’s December 7, 2021, release. The Company has now reported on the discovery of three medium-to-high grade mineralized gold zones at Cabin: the Arrow, Beaver, and Andrew Zones, all open at depth, and along strike.
Andrew Zone Expansion
Andrew South
The Company is reporting multiple near-surface medium-to-high grade gold at the newly defined Andrew Zone which extends 800 meters from south to north along the Bugow Iron Formation. Highlights of Phase 2 drilling at Andrew South include: new drill hole CL-21-21 which reported 2.9m of 5.09 g/t Au (from 70.65m to 76.8m), including 2.2m of 6.42 g/t Au and deeper in hole CL-21-21, reporting 4.7m of 3.38 g/t Au (from 88.80m to 94.00m). As of the date of this release, the Company has sent in additional samples for assaying from hole CL-21-21, as the gold mineralization is recognized to extend past the sulfide intervals of the drill core, which is a first for the project. The new assays, once received, will be part of a future updating release, and could extend the reported high-grade gold intervals at the southern part of Andrew. Additional highlights at Andrew include: new hole CL-21-24 which reported 3.9m of 2.91 g/t Au (from 51.00m to 55.12m); new hole CL-21-19 which reported 3.1m of 2.57 g/t Au (from 62.2m to 65.3m) and deeper in hole CL-21-19 reporting 1m of 2.06 g/t Au (from 93.3m to 94.3m); new hole CL-21-20 which reported 0.4m of 6.11 g/t Au (from 90.8m to 91.2m); and new hole CL-21-25 which reported 2.3m of 2.61 g/t Au (from 68.0m to 70.5m). As noted below, in the drill result tables, there are multiple well mineralized drill intercepts at the south part of the Andrew Zone that are reported in additional new holes (see CL-21-22, CL-21-22, CL-21-23 in the tables below). As of the date of this release, the Company has also sent additional samples from hole CL-21-25 to the lab for assaying.
Andrew North Highlights from drilling at the northern part of the Andrew Zone include new hole CL-21-27 which reported 4.3m of 4.14 g/t Au (from 17.8m to 22.8m); new hole CL-21-29 which reported 3.0m of 3.2 g/t Au (from 37.6m to 40.8m) and multiple additional medium-to-high grade gold intercepts at deeper depth from this same hole, as reported in the drill result tables below. As of the date of this release, the Company has sent additional samples to the lab from hole CL-21-29. Additional highlights include new hole CL-21-28 which reported 3.2m of 1.19 g/t Au (from 38.8m to 42.8m).
The results, both confirm and expand upon, 1980s historical drilling at Andrew, and have returned higher grades than historical results. The historical drill holes and new holes from Andrew South and Andrew North can be referenced in the drill plan views below. A table of significant Andrew Zone drill assay results, greater than 0.5 g/t Au, listed by hole and interval, can be found near the end of this release. For purposes of the calculations of the highlighted intervals in this release, Rover considers results above 0.50 g/t Au to be of significance.
The Company’s working hypothesis is that the near surface Andrew Zone extends 800 meters, from south to north. There was significant drilling along the middle of the Andrew Zone in the 1940s. Unfortunately, none of the historical drill records have survived. The Company tested its hypothesis during its Phase 2 Exploration Program, by drilling two drill holes in the centre of the Andrew Zone. As of the date of this release, the Company has sent additional samples from both hole CL-21-30 and CL-21-31 to the lab for assaying as the gold mineralization is recognized to extend past the sulphide intervals in the drill core. The results from Andrew middle will form part of an updating release.
Judson Culter, CEO at Rover Metals, states “We are very pleased to have made the discovery of a third significant zone at the Cabin Gold project. In total, there is over 1,000 meters of surface strike length, that is open along strike (Beaver) and at depth (Arrow, Beaver and Andrew), across all defined zones on the project (Arrow, Beaver and Andrew). We expect the 2022 Phase 3 Exploration Program at the Cabin Gold project to focus on the highest grade gold areas of these zones.”
Tables of Significant Drill Results
Hole
Easting
Northing
Elev
Total Depth
Dip
Azimuth
Zone
CL-21-19
559,189.00
7,006,213.00
181.7
100
-45
230
Andrew South
CL-21-20
559,189.00
7,006,213.00
181.7
152
-60
230
Andrew South
CL-21-21
559,189.00
7,006,213.00
181.7
130
-45
190
Andrew South
CL-21-22
559,170.00
7,006,165.00
181.7
104
-45
190
Andrew South
CL-21-23
559,170.00
7,006,165.00
181.7
53
-45
230
Andrew South
CL-21-24
559,170.00
7,006,165.00
181.7
59
-65
230
Andrew South
CL-21-25
559,202.00
7,006,198.00
181.5
101
-45
220
Andrew South
CL-21-26
558,606.00
7,006,655.00
188.8
47
-45
85
Andrew North
CL-21-29
558,606.00
7,006,655.00
188.8
50
-50
10
Andrew North
CL-21-27
558,606.00
7,006,655.00
188.8
34
-45
55
Andrew North
CL-21-28
558,606.00
7,006,655.00
188.8
47
-60
55
Andrew North
CL-21-30
558,999.00
7,006,228.00
185.5
47
-45
220
Andrew Middle
CL-21-31
558,999.00
7,006,228.00
185.5
26
-45
260
Andrew Middle
Hole
Sample ID
From
To
Interval
Au g/t
Zone
CL-21-19
V748041
62.20
62.76
0.56
6.24
Andrew South
CL-21-19
V748042
62.76
63.00
0.24
1.1
Andrew South
CL-21-19
V748043
63.00
63.29
0.29
0.88
Andrew South
CL-21-19
V748044
63.29
63.59
0.3
1.96
Andrew South
CL-21-19
V748045
63.59
64.00
0.41
4.19
Andrew South
CL-21-19
V748046
64.00
64.35
0.35
2.73
Andrew South
CL-21-19
V748047
64.35
64.68
0.33
0.37
Andrew South
CL-21-19
V748048
64.68
64.98
0.3
0.94
Andrew South
CL-21-19
V748049
64.98
65.32
0.34
1.02
Andrew South
CL-21-19
V748058
93.32
93.64
0.32
0.71
Andrew South
CL-21-19
V748059
93.64
94.00
0.36
3.67
Andrew South
CL-21-19
V748060
94.00
94.3
0.30
1.56
Andrew South
Hole
Sample ID
From
To
Interval
Au g/t
Zone
CL-21-20
V748067
90.86
91.26
0.4
6.11
Andrew South
Hole
Sample ID
From
To
Interval
Au g/t
Zone
CL-21-21
V748071
70.65
70.98
0.33
0.76
Andrew South
CL-21-21
V748072
70.98
71.3
0.32
0.35
Andrew South
CL-21-21
V748073
71.3
71.61
0.31
6.98
Andrew South
CL-21-21
V748074
71.61
72.03
0.42
3.89
Andrew South
CL-21-21
V748075
75.31
75.61
0.30
17.6
Andrew South
CL-21-21
V748076
75.61
76.00
0.39
10.4
Andrew South
CL-21-21
V748077
76.00
76.42
0.42
2.23
Andrew South
CL-21-21
V748078
76.42
76.8
0.38
0.48
Andrew South
CL-21-21
V748087
92.23
92.93
0.70
2.78
Andrew South
CL-21-21
V748088
92.93
93.33
0.40
1.77
Andrew South
CL-21-21
V748089
93.33
94.00
0.67
2.67
Andrew South
Hole
Sample ID
From
To
Interval
Au g/t
Zone
CL-21-22
V748090
42.4
42.88
0.48
0.84
Andrew South
CL-21-22
V748091
42.88
43.18
0.3
0.39
Andrew South
CL-21-22
V748092
43.18
43.61
0.43
1.16
Andrew South
CL-21-22
V748093
43.61
44.10
0.49
1.43
Andrew South
CL-21-22
V748094
44.10
44.40
0.30
0.95
Andrew South
CL-21-22
V748095
44.40
44.67
0.27
1.8
Andrew South
CL-21-22
V748096
44.67
45.01
0.34
0.57
Andrew South
CL-21-22
V748097
45.01
45.36
0.35
1.94
Andrew South
CL-21-22
V748098
45.36
45.71
0.35
0.43
Andrew South
Hole
Sample ID
From
To
Interval
Au g/t
Zone
CL-21-23
V748117
41.98
42.44
0.46
0.89
Andrew South
CL-21-23
V748118
42.44
42.75
0.31
0.52
Andrew South
CL-21-23
V748119
42.75
43.15
0.40
0.80
Andrew South
CL-21-23
V748120
43.15
43.90
0.75
1.05
Andrew South
CL-21-23
V748121
43.90
44.30
0.40
1.88
Andrew South
CL-21-23
V748123
44.30
44.62
0.32
0.52
Andrew South
Hole
Sample ID
From
To
Interval
Au g/t
Zone
CL-21-24
V748102
51.00
51.50
0.50
2.77
Andrew South
CL-21-24
V748103
51.50
52.01
0.51
0.15
Andrew South
CL-21-24
V748104
52.01
52.76
0.75
1.57
Andrew South
CL-21-24
V748105
52.76
53.10
0.34
3.63
Andrew South
CL-21-24
V748106
53.10
53.41
0.31
5.16
Andrew South
CL-21-24
V748107
53.41
53.80
0.39
1.79
Andrew South
CL-21-24
V748108
53.80
54.20
0.40
3.57
Andrew South
CL-21-24
V748109
54.45
54.77
0.32
6.11
Andrew South
CL-21-24
V748110
54.77
55.12
0.35
4.93
Andrew South
Hole
Sample ID
From
To
Interval
Au g/t
Zone
CL-21-25
V748125
53.00
53.45
0.45
1.64
Andrew South
CL-21-25
V748126
63.95
64.25
0.30
0.73
Andrew South
CL-21-25
V748127
65.42
65.88
0.46
1.72
Andrew South
CL-21-25
V748128
65.88
66.18
0.30
0.22
Andrew South
CL-21-25
V748129
66.18
66.58
0.40
2.16
Andrew South
CL-21-25
V748130
67.09
67.39
0.30
4.01
Andrew South
CL-21-25
V748131
67.39
67.76
0.37
0.41
Andrew South
CL-21-25
V748132
68
68.35
0.35
0.50
Andrew South
CL-21-25
V748133
68.35
68.68
0.33
0.64
Andrew South
CL-21-25
V748134
68.68
68.98
0.30
1.59
Andrew South
CL-21-25
V748135
68.98
69.68
0.70
4.27
Andrew South
CL-21-25
V748136
69.82
70.12
0.30
1.07
Andrew South
CL-21-25
V748137
70.12
70.46
0.34
5.55
Andrew South
Hole
Sample ID
From
To
Interval
Au g/t
Zone
CL-21-26
V748185
28.0
28.8
0.80
1.85
Andrew North
CL-21-26
V748186
28.8
29.47
0.67
0.52
Andrew North
Hole
Sample ID
From
To
Interval
Au g/t
Zone
CL-21-27
V748139
17.83
18.20
0.37
0.57
Andrew North
CL-21-27
V748140
18.2
18.52
0.32
6.32
Andrew North
CL-21-27
V748141
18.52
18.83
0.31
2.44
Andrew North
CL-21-27
V748142
18.83
19.11
0.28
9.2
Andrew North
CL-21-27
V748143
19.11
19.47
0.36
4.1
Andrew North
CL-21-27
V748144
19.47
19.79
0.32
1.64
Andrew North
CL-21-27
V748145
20.00
20.33
0.33
1.06
Andrew North
CL-21-27
V748146
20.33
20.75
0.42
14.65
Andrew North
CL-21-27
V748147
20.75
21.03
0.28
1.81
Andrew North
CL-21-27
V748148
21.25
21.61
0.36
0.78
Andrew North
CL-21-27
V748149
21.92
22.40
0.48
3.48
Andrew North
CL-21-27
V748150
22.40
22.84
0.44
2.64
Andrew North
Hole
Sample ID
From
To
Interval
Au g/t
Zone
CL-21-28
V748176
38.81
39.25
0.44
0.93
Andrew North
CL-21-28
V748177
39.25
39.82
0.57
0.27
Andrew North
CL-21-28
V748178
40.60
41.00
0.40
2.97
Andrew North
CL-21-28
V748179
41.00
41.59
0.59
1.05
Andrew North
CL-21-28
V748180
41.59
41.97
0.38
0.31
Andrew North
CL-21-28
V748181
41.97
42.36
0.39
2.63
Andrew North
CL-21-28
V748182
42.36
42.79
0.43
0.71
Andrew North
Hole
Sample ID
From
To
Interval
Au g/t
Zone
CL-21-29
V748153
37.60
38.00
0.40
2.72
Andrew North
CL-21-29
V748154
38.00
38.40
0.40
4.75
Andrew North
CL-21-29
V748155
38.4
38.70
0.30
1.18
Andrew North
CL-21-29
V748156
38.70
39.10
0.40
4.83
Andrew North
CL-21-29
V748158
39.37
39.71
0.34
1.31
Andrew North
CL-21-29
V748159
39.71
40.09
0.38
5.61
Andrew North
CL-21-29
V748160
40.09
40.39
0.30
4.43
Andrew North
CL-21-29
V748161
40.39
40.82
0.43
0.60
Andrew North
CL-21-29
V748162
41.70
42.01
0.31
1.48
Andrew North
CL-21-29
V748165
42.97
43.37
0.40
0.92
Andrew North
Technical information in this news release has been approved by David White, P.Geo., Technical Advisor of Rover and a Qualified Person for the purposes of National Instrument 43-101.
Stock Option Grant to Advisor The Company has made a stock option grant of 350,000 stock options to Robert Schafer, an advisor to the Company. The stock options have an exercise price of $0.06, vest monthly over 12 months, and have a four-year useful life. Mr. Schafer has nearly 40 years of experience in the mineral industry, working in the international sector with both major and junior mining companies. He is founder and Managing Director of Eagle Mines Management, a globally active private natural resources corporation. He has held executive and senior management positions with Hunter Dickinson Inc., Kinross Gold Corp., and BHP Minerals over the past 20 years. Throughout his career Mr. Schafer has worked internationally, with notable experience in the far east of Russia, Southern Africa, South America and Australia.
About Rover Metals Rover is a precious metals exploration company specialized in North American precious metal resources, that is currently advancing the gold potential of its existing projects in the Northwest Territories of Canada (60th parallel). The Company commenced Phase 2 Exploration at its 100% owned Cabin Gold Project in the summer of 2021, and the analysis and reporting of the Phase 2 Exploration work at Cabin Gold continues through to the date of this release.
ON BEHALF OF THE BOARD OF DIRECTORS “Judson Culter” Chief Executive Officer and Director
For further information, please contact: Email: info@rovermetals.com Phone: +1 (778) 754-2617
Statement Regarding Forward-Looking Information This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Rover’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. There can be no assurance that such statements prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Rover’s expectations. Rover undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.
Judson Culter, CEO at Rover, states “the Cabin Lake Access Road is a huge win and a stepping-stone for the Company and its stakeholders. The access road will reduce the Company’s all-in diamond drilling costs by approximately 35% moving forward, and allows it to maximize stakeholder value. The access road also opens the door to other future opportunities such as potential access to mills and mining operations in the area. Cabin Lake is situated 120km from the city of Yellowknife.”
For further information, please contact: Judson Culter Email: judson@rovermetals.com Phone: (604) 449-5347
Judson Culter, CEO at Rover, states “the Cabin Lake Access Road is a huge win and a stepping-stone for the Company and its stakeholders. The access road will reduce the Company’s all-in diamond drilling costs by approximately 35% moving forward, and allows it to maximize stakeholder value. The access road also opens the door to other future opportunities such as potential access to mills and mining operations in the area. Cabin Lake is situated 120km from the city of Yellowknife.”
For further information, please contact: Judson Culter Email: judson@rovermetals.com Phone: (604) 449-5347
