METALITE RESOURCES INC - JNCCF STOCK NEWS

TORONTO, ON / ACCESSWIRE / March 22, 2023 / Metalite Resources Inc. (formerly RooGold Inc.) has announced a name change effective March 27, 2023. The company will also change its trading symbol to METL on the Canadian Securities Exchange (CSE). Shareholders need not take action as existing share certificates remain valid. Metalite Resources focuses on mineral exploration, boasting a strong portfolio in battery and precious metals across Liberia and Australia, including over 3,200 sq. km in Liberia and 1,300 sq. km in New South Wales, Australia, with numerous historical mines.

RooGold Inc. (OTC PINK: JNCCF) announces the appointment of David Melling as Chief Executive Officer, succeeding Vishal Gupta, who resigned to pursue other ventures. Melling brings over 35 years of experience in the mining industry, including expertise in various deposit types and lithium exploration. Additionally, Dale J. Schultz joins the Board of Directors, replacing Daniel Cohen. Schultz, a Professional Geologist with extensive experience in North and South America, enhances RooGold’s leadership. The company aims to leverage its mineral exploration portfolio in Liberia and Australia to maximize shareholder value.

RooGold Inc. has completed the acquisition of Next Generation Resources Inc. on February 21, 2023, enhancing its portfolio in the mining sector. This strategic acquisition grants RooGold access to NextGen's significant property interests in Liberia, focusing on battery metals such as lithium, nickel, and cobalt. The transaction involved issuing 72,499,200 common shares and associated warrants. Following the acquisition, RooGold's outstanding shares total 145,099,150, with existing shareholders maintaining over 50% ownership. The board also welcomed David Kol from NextGen while thanking outgoing member Michael Mulberry for his contributions.

RooGold Inc. (CSE:ROO)(OTC PINK:JNCCF) appointed Efdal Olcer as Vice President of Exploration, enhancing its focus on precious metals exploration in Australia. Olcer brings nearly 20 years of experience, previously holding senior roles in several mining companies. The Company designates Arthurs Seat and Castle Rag as core assets based on recent exploration findings. Arthurs Seat spans 42 sq km with promising mineralization for gold, silver, and antimony, while Castle Rag covers 126 sq km with 34 historic mines. NI 43-101 technical reports validate the high prospectivity of these properties, guiding future exploration efforts.

RooGold Inc. (OTC PINK: JNCCF) announced the granting of stock options on December 29, 2022, subject to regulatory approval. A total of 5,900,000 options will be available to directors and officers at an exercise price of $0.05, under its 10% rolling stock option plan. Among these, 3,337,500 options will vest immediately, while the remaining 2,562,500 options will vest in six months. These options are exercisable for five years, expiring on December 29, 2027. RooGold is focused on mineral exploration in New South Wales, Australia, with a portfolio covering 1,380 km².

RooGold Inc. announced a binding letter of intent to acquire Next Generation Resources Inc., focusing on expanding into the battery metals sector. The acquisition aims to leverage NextGen’s extensive exploration properties in Liberia, which cover lithium, nickel, cobalt, and rare earth elements, alongside other minerals. Post-transaction, RooGold is expected to have approximately 145 million shares outstanding, with a balanced ownership structure. NextGen brings a cash boost of around Cdn$1.3 million to support ongoing exploration activities.

RooGold Inc. has appointed Vishal Gupta as interim President & CEO following Carlos Espinosa's resignation. Gupta, with extensive mining experience, aims to enhance operations and geological progress in Australia. Additionally, Kym Revington has been appointed as Country Manager in Australia, bringing over 20 years of industry expertise. RooGold owns a portfolio of 13 high-grade potential gold and silver concessions in New South Wales, covering 1,380 km² and 137 historic mines. The company remains focused on its growth strategy despite leadership changes.