Rover Metals Announces Infill and Delineation of the Historic Beaver Zone, at Cabin Gold, NT, Canada

Rhea-AI Summary

Rover Metals Corp. reports progress in its Phase 2 Exploration Program at the Cabin Gold Project in Canada, focusing on defining new gold zones. The company has expanded the economic gold grades at the Beaver Zone, located 400 meters from the Arrow Zone, which was defined as a high-grade ore shoot. Key drill results include 6.4 meters at 4.63 g/t Au and 5.8 meters at 2.13 g/t Au. An 18 km IP ground survey has commenced to assist in 3D modeling for future drill targets. CEO Judson Culter expresses optimism about the ongoing exploration efforts.

Positive

• Expansion of economic gold grades reported at Beaver Zone.
• Significant drill results including 6.4 meters of 4.63 g/t Au.
• New drilling confirms and exceeds historical results.
• Commencement of an IP ground survey to refine future exploration.

Negative

• None.

VANCOUVER, British Columbia, Dec. 07, 2021 (GLOBE NEWSWIRE) -- 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.

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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

FAQ

What are the recent updates from Rover Metals on the Cabin Gold Project?

Rover Metals reported expansion of economic gold grades at the Beaver Zone and significant drill results in its Phase 2 Exploration Program.

What were the notable drill results at the Beaver Zone reported by Rover Metals?

Notable drill results include 6.4 meters of 4.63 g/t Au and 5.8 meters of 2.13 g/t Au.

When did Rover Metals commence the IP ground survey for further exploration?

The IP ground survey commenced on November 28, 2021.

What is the significance of the Beaver Zone in Rover Metals' exploration efforts?

The Beaver Zone has shown potential for high-grade gold mineralization and is expected to extend towards the Arrow Zone.

What is the financial outlook for Rover Metals based on the latest drill findings?

The latest drill findings indicate a positive outlook with higher grade gold mineralization, which could enhance the company's value.