Rover Metals Receives TSXV Approval To Acquire Lithium Project In Nevada, The Canadian Business Journal

VANCOUVER, British Columbia, November 21, 2022 (GLOBE NEWSWIRE) — Rover Metals (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO) (“rover” or “Company”) has received approval from the Toronto Venture Exchange (“TSXV”) for a definitive agreement to elect 100% ownership, in addition to the September 20, 2022 and November 17, 2022 releases I am pleased to announce the The Claystone Lithium Project in the Southwest Lithium Jurisdiction of Nevada, USA (the “Option Agreement”). The effective date of the option agreement is November 16, 2022. An optional land package is a district-scale lithium clay deposit on Land Management Land.

Let’s Go Lithium Property, Nevada, USA
The Let’s Go Lithium Claystone Property is located in Nevada’s prestigious Southwest Lithium Jurisdiction and covers approximately 6,000 acres. We have validated high quality lithium surface samples on the project through the project vendor and his ALS Laboratories. Highlights of these surface grab samples processed by ALS Laboratories include: 780 ppm lithium, of sample number AMZ-26 910ppm lithium, and for sample number AMZ-28 710ppm lithiumThe company obtained additional surface grab samples from the project and analyzed them with handheld laser-induced breakdown spectroscopy (“HH LIBS”). HH LIBS highlights include: 1,218 ppm lithium, 778 ppm lithium, 724 ppm lithium, and 707 ppm lithium.

The project includes a hydroelectric green energy infrastructure, direct road access, and a nearby town with immediate workforce availability.

Equivalent late-stage Claystone lithium projects include Cypress Development’s Clayton Valley project. American Lithium’s TLC project. Noram Lithium’s Zeus project, and Iconic Minerals’ Bonnie Claire project. All of the aforementioned companies are late-stage mining companies with NI 43-101 resource definitions. Rover’s Nevada Lithium Project is an untapped natural resource that has never been drilled. Historic well drilling by the USGS on the Let’s Go Lithium property shows that the claystone is near the surface and has an average thickness of over 90 meters.

Overview of future commitments under option contracts
To obtain 100% ownership of the Let’s Go Lithium project, the company must compensate the project owner as follows:

	cash	common stock	exploration commitment
1st year	none	US$20,000 of common stock will be issued in the greater of: (1) VWAP for 5 days until 31 January 2023. or (2) $0.065.	none
2nd year	US$20,000	US$100,000 common stock will be issued in the greater of: (1) VWAP for 5 days until 31 January 2024. or (2) $0.065.	US$200,000
Third year	US$75,000	US$150,000 common stock will be issued in the greater of: (1) VWAP for 5 days until 31 January 2025. or (2) $0.065.	none
4th year	US$80,000	US$250,000 common stock will be issued in the greater of: (1) VWAP for 5 days ending 31 January 2026. or (2) $0.065.	none
5th year	US$100,000	none	none
6 Year Student	US$150,000	none	none
7th year	US$75,000	none	none
US$500,000 of Rover Metals common stock and US$500,000 of Rover Metals common stock for milestone payments issued at any time, including in the seventh year and thereafter, whichever is greater: (1) up to the date of issuance; VWAP for 5 days. or (2) $0.065.
A 2% net smelter-royalty (“NSR”) on the first marketable product from the property. The NSR includes a 1-mile coverage area surrounding the project.

Technical information is approved by David White, P.Geo., QP for purposes of NI 43-101. ALS Laboratories is ISO/IEC 17025:2017 and ISO 9001:2015 certified.

Judson Culter, CEO of Rover Metals, said: Due to the nature of the claystone, we see the Let’s Go Lithium project as a rapid shovel-ready opportunity for development. ”

About Rover Metals
Rover is a listed junior mining company trading TSXV under symbol ROVR, OTCQB under symbol ROVMF (temporarily ROVMD) and FSE under symbol 4XO. We are currently developing both: (1) Significant Mineral Projects. (2) precious metal projects; We are exclusive to the mining jurisdictions of Canada and the United States. Five of our existing mineral resources development projects are located near the city of Yellowknife in ’60.^th Parallel, Canada.

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On behalf of the Board of Directors
“Judson Culter”
Chief Executive Officer and Director

For more information, please contact:
Email: [email protected]
Phone: +1 (778) 754-2617

forward-looking statement
This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and the actual results, performance or achievements of Rover or developments in the industry, either expressed or implied by such forward-looking statements. It includes other factors that could cause the expected results, performance or achievements to differ materially from those projected. statement. Forward-looking statements are not historical facts and are generally, but not always, “expects,” “plans,” “anticipates,” “believes,” “intends,” Statements identified by the words “will” and “anticipate”. “potential” and similar expressions, or expressions that an event or condition “will occur”, “will”, “could”, “could” or “should occur” . There is no guarantee that such statements are 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. may cause actual results to differ materially from Rover’s expectations. Rover undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates, opinions or other factors change.

The forward-looking information contained in this news release represents our expectations as of the date of this news release and, therefore, is subject to change after that date. Readers should not place undue importance on forward-looking information or rely on this information as of any other date. The Company reserves the right to choose, but does not undertake to update this information at any particular time, except as required by applicable law.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATORY PROVIDERS (AS THAT TERM IS DEFINED IN THE TSX VENTURE EXCHANGE POLICY) ASSUME ANY RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.

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