Precious Metals

Rover Metals Corp. 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 zones along the Bugow Iron Formation, the controlling structure for gold at the Cabin Gold Project. The Company is pleased to announce that it has been able to achieve expansion of the economic gold grades at ...

Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FRA:4X0) (" 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 zones along the Bugow Iron Formation, the controlling structure for gold at the Cabin Gold Project. The Company is pleased to announce that it has been able to achieve expansion of the economic gold grades at the historic Beaver Zone. The Beaver Zone is situated roughly 400 meters northwest of the Arrow Zone, which was the focus of the Company's exploration efforts in 2020. In November 2020, the Arrow Zone was delineated as a near surface, 120-meter high-grade ore shoot, open at depth. The Beaver Zone, currently defined as approximately 90 meters in near surface length, is showing potential to extend south-east into the high-grade Arrow Zone, as well as being open to the northwest, and at depth.

Beaver Zone Expansion
The Company is reporting multiple near-surface intercepts of economic gold grades at the Beaver Zone. Highlights of Phase 2 drilling include: new drill hole CL-21-10 which reported 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 ; new drill hole CL-21-15 which reported 5.8 meters of 2.13 g/t Au (from 50.0m to 55.8m); new drill hole CL-21-39 which reported 4.6 meters of 2.21 g/t Au (from 11.0m to 15.6m); and new drill hole CL-21-40 which reported 4.5 meters of 0.84 g/t Au (from 13.8m to 18.3m). The results, both confirm and expand upon, historical drilling at Beaver in the 1980s, and have returned higher grades than historical results . The historical drill holes and new holes can be referenced in the drill plan for the Beaver Zone below. A table of significant Beaver Zone drill results greater than 0.5 g/t Au listed by hole and interval can be found at the bottom of this release.

Drill Plan View – Beaver Zone

CL-21-10/11 Cross Sections
CL-21-13/14 Cross Sections
CL-21-15 Cross Section
CL-21-16 Cross Section
CL-21-39/40 Cross Sections

The Company's working hypothesis is that there is a conceptual ore shoot at Beaver trending, and dipping to the northwest in a similar fashion and direction as the Arrow Zone, which lies 400 meters to the southeast of Beaver. The Company commenced an IP ground survey on November 28 th , 2021, across the Beaver and Arrow Zones to assist in 3D modelling of the gold mineralization for the delineation of the Phase 3 drill targets for Q1-2022.

Map of Beaver Zone and Arrow Zone IP Survey Lines

Judson Culter, CEO at Rover Metals, states: "We are very pleased to have the workings of a new medium-to-high grade ore shoot at Beaver. The goal of the Phase 2 Program at Cabin was to open-up the 15 km of near surface iron formation at the project, and to delineate additional zones for a deeper Phase 3 drill program in Q1-2022. We believe that in addition to our success in the Beaver Zone we are poised for significant expansion of gold mineralization at the historic Andrew Zone as well. Based on the initial sampling results received from the Andrew Zone, we have sent more samples to the lab as we believe the mineralized intervals are longer than what initially sampled in the field at the start of the program. A map of the Bugow Iron Formation, showing the current understanding and interpretation of the delineated zones as well as new 2021 IP anomaly discoveries can be found below."

Map of the Bugow Iron Formation

Tables of Significant Drill Results

Hole ID Easting83z11 Northing83z11 Elevation (m) Total Depth Dip Azimuth
CL-21-10 559060 7005770 176 74 -45 230
CL-21-11 559061 7005770 176 146 -65 230
CL-21-12 559062 7005769 176 93.75 -55 195
CL-21-13 559020 7005800 175 62 -45 230
CL-21-14 559020 7005800 175 95 -65 230
CL-21-15 559020 7005800 175 83 -45 190
CL-21-16 559020 7005800 175 80 -45 260
CL-21-39 559067 7005755 177 53 -45 230
CL-21-40 559067 7005755 177 77 -55 250


Hole ID Sample ID From (m) To (m) Interval (m) Au (g/t)
CL-21-10 V749212 42.6 43.1 0.5 1.17
CL-21-10 V749213 43.1 43.6 0.5 1.62
CL-21-10 V749214 43.6 44.1 0.5 0.95
CL-21-10 V749215 44.1 44.6 0.5 2.88
CL-21-10 V749216 44.6 45.1 0.5 7.32
CL-21-10 V749218 45.1 45.6 0.5 6.51
CL-21-10 V749219 45.6 45.9 0.3 22.40
CL-21-10 V749217 45.9 46.4 0.5 5.40
CL-21-10 V749221 46.4 46.7 0.3 8.33
CL-21-10 V749222 46.7 47.2 0.5 1.43
CL-21-10 V749223 47.2 47.7 0.5 0.42
CL-21-10 V749224 47.7 48.2 0.5 1.45
CL-21-10 V749225 48.2 49.0 0.8 7.30


Hole ID Sample ID From (m) To (m) Interval (m) Au (g/t)
CL-21-13 V749421 41.57 41.97 0.40 0.51
CL-21-13 V749422 41.97 42.38 0.41 0.20
CL-21-13 V749423 42.38 42.75 0.37 3.39
CL-21-13 V749424 42.75 43.09 0.34 0.31
CL-21-13 V749425 43.09 43.59 0.50 0.04
CL-21-13 V749426 43.59 44.00 0.41 1.78
CL-21-13 V749427 44.00 44.53 0.53 0.76


Hole ID Sample ID From (m) To (m) Interval (m) Au (g/t)
CL-21-14 V749467 70.70 71.00 0.30 0.62
CL-21-14 V749468 71.00 71.43 0.43 0.51
CL-21-14 V749469 71.43 71.81 0.38 1.52
CL-21-14 V749470 71.81 72.16 0.35 0.41
CL-21-14 V749471 72.16 72.56 0.40 1.59
CL-21-14 V749472 72.56 72.9 0.34 5.48


Hole ID Sample ID From (m) To (m) Interval (m) Au (g/t)
CL-21-15 V749507 50.00 50.50 0.50 0.70
CL-21-15 V749508 50.50 51.03 0.53 1.10
CL-21-15 V749509 51.03 51.48 0.45 0.41
CL-21-15 V749510 51.48 52.16 0.68 0.39
CL-21-15 V749511 52.16 52.87 0.71 5.05
CL-21-15 V749512 52.87 53.23 0.36 9.64
CL-21-15 V749513 53.23 53.63 0.40 4.29
CL-21-15 V749514 53.63 53.97 0.34 1.54
CL-21-15 V749515 53.97 54.29 0.32 0.45
CL-21-15 V749516 54.29 54.62 0.33 2.79
CL-21-15 V749517 54.62 55.36 0.74 0.21
CL-21-15 V749518 55.36 55.75 0.39 0.83


Hole ID Sample ID From (m) To (m) Interval (m) Au (g/t)
CL-21-39 V748418 11.00 11.90 0.90 1.39
CL-21-39 V748419 11.90 12.20 0.30 0.96
CL-21-39 V748420 12.20 12.94 0.74 0.61
CL-21-39 V748421 12.94 13.36 0.42 1.13
CL-21-39 V748422 13.36 14.00 0.64 7.96
CL-21-39 V748423 14.00 14.52 0.52 2.72
CL-21-39 V748424 14.52 15.00 0.48 1.60
CL-21-39 V748425 15.00 15.62 0.62 0.74


Hole ID Sample ID From (m) To (m) Interval (m) Au (g/t)
CL-21-40 V748392 43.53 43.83 0.30 4.09
CL-21-40 V748393 43.83 44.29 0.46 3.17
CL-21-40 V748394 44.29 44.57 0.28 1.71
CL-21-40 V748395 44.57 45.10 0.53 1.03
CL-21-40 V748396 45.10 45.47 0.37 1.43
CL-21-40 V748397 45.47 45.93 0.46 2.99
CL-21-40 V748398 45.93 46.60 0.67 0.25
CL-21-40 V748399 46.60 47.15 0.55 0.69

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.

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 (60 th parallel). The Company commenced Phase 2 Exploration at its 100% owned Cabin Gold Project in the summer of 2021, and Phase 2 Exploration work continues at Cabin Gold through to the date of this release.

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/

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 be 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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/65eb889b-c20a-41f7-a720-8d6868e69274


News Provided by GlobeNewswire via QuoteMedia

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