Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF)
(FSE:4XO) (“
Rover” or the
“
Company”) further to its release of August 16,
2022, Rover is pleased to announce the launch of its new website
showcasing the pivot by the Company into critical minerals. On
August 16, 2022, the Company announced its intent to option a 90%
ownership interest in the Indian Mountain Lake VMS project, NT,
Canada.
Indian Mountain Lake VMS
ProjectThe Indian Mountain Lake VMS Project has had
exploration dating back to the 1940s and has a historical resource
spread across four zones on the project. The BB Zone and Kennedy
Lake Zone have a combined historic resource of 1,400,000 tons
grading 10% combined zinc and lead with 3.5 OPT (ounces per ton) of
silver*. Approximately 900 metres west of the BB Zone, the Kennedy
Lake West Zone has a historic resource of 610,000 tons grading
1.15% copper*. About 8 km southeast of the BB Zone, the Susu Lake
Zone, has a historical resource consisting of 142,500 tons grading
0.95% copper*.
The property is located approximately 195 km
east-northeast of Yellowknife, NT, off the eastern arm of Great
Slave Lake. Seasonal access relies upon fixed or rotor wing
support. A right of way was cleared to the project from Thompson
Landing in the 1970s. If this right of way were to be brushed out
it would provide barge access at Thompson Landing, from
Yellowknife, with ground transportation, considerably lowering any
logistical costs. Future Government of Canada federally funded
hydro-energy infrastructure could come close to the project if the
Taltson Hydro Dam expansion proceeds through the eastern arm of
Great Slave Lake into Yellowknife. At the southwest-end of Great
Slave Lake, Osisko Metals is gearing up to reopen the Pine Point
Zinc-Lead Mine. At nearby Hay River, NT, there is a rail line to
the Teck Resources Zinc Refinery in Trail, BC.
*These resources are historic in nature. Further
drilling is needed to bring them up to CIM Definition Standards.
The historic data has not been verified by Rover. The historic
information is provided in the 2103 Assessment Report for Indian
Mountain Lake which is in public record with the Government of the
Northwest Territories.
Technical information has been approved by Gary
Vivian, M.Sc., P.Geo., QP for the purposes of NI 43-101.
An updating release will be provided once the
Company has executed its Definitive Option Agreement for the Indian
Mountain Lake project.
New WebsiteAn updated Corporate
Fact Sheet is now available on our new website.
Judson Culter, CEO at Rover Metals, states “We
see tremendous growth coming for critical minerals fueled by
domestic EV demand in the U.S. and Canada. We are also excited to
see initiatives being put in place by the securities regulators to
help publicly traded junior mining companies succeed, this includes
enforcing rules against manipulative stock trading practices, such
as naked short selling.”
Corporate UpdateA Q&A
interview with Rover’s CEO, Judson Culter, is now also available
for viewing here.
Upcoming ConferenceRover Metals
will be presenting at the Redefining Electric Metals Conference in
Calgary, AB, on September 19th and 20th. Registration is at
www.redefiningelectricalmetals.com
Shares for Services
AgreementThe Toronto Venture Exchange (TSXV) has approved
a shares for services agreement with one of the Company’s Advisors
(the “Services Agreement”). The Services Agreement calls for
monthly advisory services of $7,500 to be settled through the
issuance of common shares in the Company for a three-month period
beginning July 1, 2022 and ending on September 30, 2022.
Thereafter, for the final three months of the contract, the monthly
fee shall revert to $5,000 per month, with up to 50% of the $5,000
monthly fee to be settled in common shares of the Company, at the
option of the Company. The share issuances shall be made on a
quarterly basis, and the conversion price shall be the higher of:
(1) closing price on the last trading day of the calendar business
quarter, or (2) the five day VWAP at the end of the quarter. In
connection with TSXV policy, the conversion price shall not be
lower then $0.05 per share.
About Rover MetalsRover is a
publicly traded junior mining company that trades on the TSXV under
symbol ROVR, on the OTCQB under symbol ROVMF, and on the FSE under
symbol 4XO. The Company is now developing both: (1) critical
minerals projects; as well as (2) precious metals projects. The
Company is exclusive to the mining jurisdictions of Canada and the
U.S. Five of the Company’s mineral resource development projects
are located near to the city of Yellowknife, 60th parallel,
Canada.
You can follow Rover on its social media
channels:Twitter: https://twitter.com/rovermetalsLinkedIn:
https://www.linkedin.com/company/rover-metals/Facebook:
https://www.facebook.com/RoverMetals/for daily company updates and
industry news, andYouTube:
https://www.youtube.com/channel/UCJsHsfag1GFyp4aLW5Ye-YQ?view_as=subscriberfor
corporate videos.Website:
https://www.rovermetals.com/
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
InformationThis 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.
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