ROVER METALS ANNOUNCES FUNDAMENTAL RESEARCH REPORT UPDATE
Vancouver, British Columbia – (February 14, 2022) – Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FRA:4XO) (“Rover” or the “Company”) is pleased to announce that Fundamental Research Corp. (“FRC”) has published their updated analyst report on Rover, dated January 2022. The report can be accessed here: https://www.researchfrc.com/company/rover-metals-corp/FRC is one of the largest issuer-paid independent stock market research firms in the world, with a 17-year track record of covering 550+ companies. As of December 14, 2020, FRC’s top picks were up 55.6% on average since the initiation of coverage.Judson Culter, CEO at Rover Metals, states “Rover Metals operates in a prolific mining jurisdiction in the southern Northwest Territories (“NT”). Three weeks ago, our neighbour, Fortune Minerals (TSE:FT), announced its intent to acquire a refinery location north of Edmonton, AB. The infrastructure needed to bring the NT’s next gold mine into production, looks to soon be in place. The proposed location for Fortune’s NICO processing facility is located 40km northwest of Rover’s Cabin Gold Project, along the recently constructed Tlicho All Season Road (“TASR”). TASR opened to the public in November 2021. Rover plans to send samples of its drill core, from its Cabin Gold Project, to the lab for metallurgic testing in H1 of this year. The goal of the testing will be to determine the recovery flotation rates for the ore at Cabin. The next step, after receiving the metallurgical results, would be to work with Fortune to determine the possible economics of a processing agreement.Winter Phase 3 Exploration, at our Cabin Gold Project, is expected to commence soon. The Company will be issuing an updating release in the coming days.”
Advisory Agreements
The Company has issued 218,840 common shares, for the settlement of $12,500 in trade payables, for consulting services provided in Q4-2021, pursuant to pre-approved shares for services agreements. The services were provided by two advisors to the Company. Only one of these shares for services agreements will continue into 2022. The shares bear the minimum four-month regulatory hold period from the date of issuance.
Investor Relations
The Company has renewed its agreement with Momentum Public Relations Inc. (“Momentum PR”) for investor relations services for another six months through to July 31, 2022. Pursuant to the renewal agreement, Momentum PR will be granted 600,000 incentive stock options, pursuant to the Company’s shareholder approved Stock Option Plan. The incentive stock options have been granted in three tranches as follows: 200,000 options with an exercise price of $0.06, 200,000 options with an exercise price of $0.075, and 200,000 options with an exercise price of $0.09.