Rover Releases Assays of First Drill Holes from Summer 2020 drilling at its Cabin Lake Gold Project, NWT Canada

- October 26th, 2020

Rover Metals Corp. is pleased to release the drill assay results from its first holes at its 100% owned Cabin Lake G old P roject . Summer Fall 2020 Cabin Lake Exploration Program Nine diamond drill holes have been completed at the Cabin Lake Gold Project. The Company is reporting on the holes received from its first batch of samples. Drill hole CL-20-01 was drilled oblique to historic drill hole 86-28 in an attempt …

Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (“ Rover Metals ” or the “ Company ”) is pleased to release the drill assay results from its first holes at its 100% owned Cabin Lake G old P roject .

Summer/ Fall 2020 Cabin Lake Exploration Program
Nine diamond drill holes have been completed at the Cabin Lake Gold Project. The Company is reporting on the holes received from its first batch of samples.

Drill hole CL-20-01 was drilled oblique (45 degrees to bedding) to historic drill hole 86-28 in an attempt to twin the historic high-grade intersect and also to test the influence of shearing affecting the Bugow Iron formation in both sulfidization and gold deposition. Hole CL-20-01 intersected the amphibolitic iron formation at a depth of 24.29m, where the upper contact appears sheared, deformed and intensely sulfidized. The iron formation is also flooded with quartz veining, likely related to a deformation/shearing event, and more than probable, related to the gold mineralization. Later narrow pegmatite bodies intrude both the host rock and the mineralized zones, thus explaining the dilutive low to nil gold values between high-grade gold intervals. The continuous long gold mineralized interval extends from 24.63m to 46.64m for a total of 22.01m averaging 7.94 gpt Au . Significant zones include 25.4m to 26.27m (0.87m averaging 13.50 gpt Au); 30.9m to 31.88m (0.98m averaging 15.52 gpt Au); 37.0m to 38.04m (1.04m averaging 13.39 gpt Au); and 41.7m to 44.48m (2.78m averaging 18.50gpt Au).

Hole CL-20-03 was planned with the intent of validating and verifying both of the historic intersects of holes 86-10 and 86-11, as well as to intersect the historic Bugow Iron formation in between these historic holes after applying deviation corrections in the historic database. Hole CL-20-03 intersected a long interval of continuous gold mineralization from the upper sheared contact of the historic Bugow Iron formation at a depth of 40.09m to 54.84m, for a total of 14.75 m averaging 6.45 gpt Au . Within this zone, a larger sub interval of continuous gold mineralization, from 42.06 to 53.55m (11.49m), averaging 7.96 gpt Au, including 4.51m (from 45.44 to 49.95m) averaging 13.09 gpt Au. The hole continued into non sulfidized amphibolitic iron formation for its entire remaining length with negligible gold values and lack of deformation/shearing, sulfides or quartz flooding, confirming the gold mineralization is associated with shearing/deformation and sulfidization along with quartz flooding as a result of it.

Table 1. Summary of Assay Results for drill holes CL-20-01 and CL-20-03

CL-20-01
From To Interval Sample ID Au ppm
24.63 24.93 0.3 V745603 1.45
24.93 25.4 0.47 V745604 5.38
25.4 25.9 0.5 V745606 11.50
25.9 26.27 0.37 V745607 16.20
26.27 26.71 0.44 V745608 1.88
26.71 27.38 0.67 V745609 3.18
27.38 28 0.62 V745610 0.05
28 29.01 1.01 V745611 2.54
29.01 29.31 0.3 V745612 11.40
29.31 29.35 0.04 V745613 8.36
29.35 29.76 0.41 V745614 5.75
29.76 30.4 0.64 V745615 5.21
30.4 30.9 0.5 V745616 5.06
30.9 31.35 0.45 V745618 20.50
31.35 31.88 0.53 V745619 11.30
31.88 32.46 0.58 V745620 9.40
32.46 32.59 0.13 V745621 0.65
32.59 32.87 0.28 V745622 2.26
32.87 34 1.13 V745623 10.20
34 34.4 0.4 V745624 12.80
34.4 34.9 0.5 V745625 4.52
34.9 35.43 0.53 V745626 4.86
35.43 35.93 0.5 V745627 4.32
35.93 36.43 0.5 V745629 1.18
36.43 37 0.57 V745630 3.55
37 37.5 0.5 V745631 13.60
37.5 38.04 0.54 V745632 13.20
38.04 38.54 0.5 V745633 9.56
38.54 39.04 0.5 V745634 6.51
39.04 39.65 0.61 V745635 4.83
39.65 40.1 0.45 V745636 3.88
40.1 40.7 0.6 V745638 6.58
40.7 41.2 0.5 V745639 4.81
41.2 41.7 0.5 V745640 7.14
41.7 42.2 0.5 V745641 12.40
42.2 42.7 0.5 V745642 18.70
42.7 43.05 0.35 V745643 27.30
43.05 43.28 0.23 V745644 1.35
43.28 43.86 0.58 V745645 20.80
43.86 44.48 0.62 V745646 22.50
44.48 44.89 0.41 V745647 0.55
44.89 45.72 0.83 V745648 4.55
45.72 46.24 0.52 V745649 3.65
46.24 46.64 0.4 V745650 2.19

CL-20-03
From To Interval Sample ID Au ppm
40.09 41.19 1.1 V745768 0.014
41.19 42.06 0.87 V745769 1.29
42.06 42.53 0.47 V745770 4.72
42.53 43 0.47 V745771 23.6
43 43.46 0.46 V745772 11.6
43.46 43.99 0.53 V745773 3.35
43.99 44.35 0.36 V745774 3.06
44.35 44.97 0.62 V745775 1.72
44.97 45.44 0.47 V745776 2.12
45.44 45.95 0.51 V745777 4.99
45.95 46.48 0.53 V745778 8.41
46.48 46.94 0.46 V745779 23.3
46.94 47.44 0.5 V745781 23.5
47.44 47.97 0.53 V745782 5.45
47.97 48.57 0.6 V745783 18.1
48.57 49 0.43 V745784 16.9
49 49.65 0.65 V745785 10.8
49.65 49.95 0.3 V745786 5.13
49.95 50.45 0.5 V745787 3.86
50.45 50.95 0.5 V745788 0.086
50.95 51.45 0.5 V745789 0.048
51.45 52.1 0.65 V745790 0.64
52.1 52.6 0.5 V745791 6.28
52.6 53.07 0.47 V745792 1.82
53.07 53.55 0.48 V745794 5.1
53.55 54.5 0.95 V745795 1.83
54.5 54.84 0.34 V745796 2.32

Fig. 1 Summer/Fall 2020 Drill H ole P lan (white lines)
https://rovermetals.com/landingpages/cabinlake2020-5nr1.html

Fig. 2. Drill section of hole CL-20-01 in relation to historic 86-28 (traces oblique to section 5m envelope)
https://rovermetals.com/landingpages/cabinlake2020-5nr1.html

Fig. 3. Drill section of hole CL-20-03 in relation to historic 86-10 and 86-11
https://rovermetals.com/landingpages/cabinlake2020-5nr1.html

CL-20-01: Core b oxes of m ineralized i ntervals reported in this press release indicating sample locations
https://rovermetals.com/landingpages/cabinlake2020-5nr1.html

Judson Culter, CEO at Rover Metals, states our technical team, including, Raul Sanabria, Dave White, and Lou Covello , have done a wonderful job in defining the drill targets for the Summer/Fall 2020 Cabin Lake Exploration Program. Raul Sanabria’s interpretation of our 2018 GeoPhysics and GeoChemistry results , as they relate to the historical exploration data, have greatly assisted the Company in understanding the high-grade nature of the gold hosted at Cabin Lake.”

November 2, 2020 Precious Metals Summit Europe (Virtual)
The Company will be discussing the prelimiary results of the summer/fall 2020 exploration drill program at its high-grade gold Cabin Lake project, NT, Canada, at the upcoming 2020 Precious Metals Summit Europe (Virtual). Please register for the virtual conference to book a one-on-one meeting with the Company’s CEO.

Judson Culter, CEO at Rover Metals, states “The 2020 Precious Metals Summit Europe virtual booth will be hosted by myself and Raul Sanabria, the Company’s Technical Advisor for the recent drilling at Cabin Lake. We look forward to discussing the Company’s interpretation of the drilling results from the first holes as it relates to the historical gold mineral resource estimate in the Cabin Lake Bugow zone.

Technical information in this news release has been approved by Raul Sanabria, M.Sc., P.Geo., Technical Advisor and shareholder of Rover Metals Corp. and a Qualified Person for the purposes of National Instrument 43-101.

About Rover Metals
Rover Metals is a precious metals exploration company specialized in North American precious metal resources, that is currently advancing the gold potential of its existing projects.

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Website: https://www.rovermetals.com/

ON BEHALF OF THE BOARD OF DIRECTORS
“Judson Culter”
Chief Executive Officer and Director
For further information, please contact:
Judson Culter
Email: judson@rovermetals.com
Phone: (604) 449-5347

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 will 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.

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