ROVER RECEIVES EXCHANGE APPROVAL FOR PIRENOPOLIS GOLD PROJECT, BRAZIL
Vancouver, British Columbia – April 10, 2025 – Rover Critical Minerals Corp. (TSXV: ROVR) (OTC Pink: ROVMF) (FSE:4XO) (“Rover” or the “Company”) is pleased to announce that, further to its release of February 18, 2025, the Company has received TSX Venture Exchange (“TSXV”) approval to acquire up to a 100% interest in and to the Pirenopolis Gold Project.
Pursuant to the agreement with 1484902 B.C. Ltd. (“148”) (the “Option Agreement”), the Company will now issue 5,000,000 common shares to the shareholders of 148 (the “Purchase Shares”) on a post-consolidation basis. The Purchase Shares are being issued subject to a three (3) year escrow agreement. No new control person will be created as a result of the issuance of the 5,000,000 shares. The Company will also make a USD$45,000 payment to 148 on or before June 30, 2025.
Solaris Geologia e Pisquisa Mineral LTDA (the “Underlying Optionor”) will retain a 2.0% Net Smelter Return (“NSR”) royalty on any future mineral production. Rover will have the right to purchase 50% of this NSR for USD$1,000,000.
Notwithstanding the NSR, 148 or Rover will pay to the Underlying Optionor certain advanced royalty payments (which will be credited against future royalty payments owing), as follows:
(a) US$120,000 within 30 days of Rover announcing a resource; and
(b) US$250,000 within 30 days of Rover announcing a decision to apply for a mining license.
Pirenopolis Gold Project, Brazil
The Pirenopolis Gold Project is located in the mining friendly state of Goias, Brazil. The project captures two stream catchments with highly anomalous gold within 25km of the village of Pirenopolis, a town founded by a late 1700’s gold rush. The rush ebbed prior to the coming of industrialization and dynamite and has seen very little modern exploration. The hard rock sources of the Pirenopolis and surrounding rivers alluvial gold rush has never been found. The area occurs in the same belt as the world class >10Moz Au Paracatu deposit operated by Kinross(1). The Pirenopolis Gold Project is classified as an organic type target and has the following distinct features being stratabound, hosted, friable calcareous schist with quartz veins and sericite alteration. Like Pirenopolis, the Paracatu deposit also sustained a late 1700’s gold rush with modern exploration leading to the source in the 1980’s. Rover hopes to repeat the same success with this project. The Pirenopolis project is a greenfields exploration project in nature. A sample obtained while taking the anomalous stream sediment sample assayed 0.8g/t Au, from a quartz vein float , and is a great start to the next phase of prospecting. Government airborne geophysics shows a clear structural break cutting across the property with a potassic anomaly interpreted to be sericite. The next steps would be to soil sample that structure, and map up the creeks taking numerous quartz float samples to follow them to source. Success here from a systematic sampling and mapping program would lead to an early drill program.
The area is cattle grazing farmland, with nearby quartzite quarries, in excellent infrastructure within the power grid and is accessed by car, with Goias being the third largest mining state in Brazil. Goias has a number of operating gold mines, Serra Grande by Anglo Ashanti, Chapada (Cu/Au) by Lundin Mining, Mara Rosa by Hochschild, as examples. The company sees this opportunity as an opportunistic low cost entry point to the country of Brazil, a nation of vast mineral wealth.
Source: (1) https://s2.q4cdn.com/496390694/files/doc_financials/annual/2013/kinross-2013-annual-report.pdf
Judson Culter, Director at Rover, states: “Buddy Doyle, is the prospecting geologist, and property generator for the Pirenopolis Gold project. Buddy has a strong record of making big discoveries, including most recently with his Brazilian gold discovery at Amarillo Gold. We’re thrilled to be working with Buddy Doyle and his Brazilian team”
Buddy Doyle
Buddy Doyle is an economic geologist with over 40 years’ experience. Mr. Doyle has been involved in multiple discoveries and mine developments for several commodities (gold, diamonds, potash, copper, lithium). He has worked at Rio Tinto and Kennecott. He has acted as CEO and VP of Exploration for a number of junior mining companies. Highlights in his career would include leading the resource expansion at the Lihir Gold project in PNG (1985-1992). The Lihir Gold project is now operated by Newmont. Lihir Gold is a >50million ounce epithermal gold mine with a geothermal component. In 1994, he led the team that discovered the Diavik diamond mine in NT, Canada. He was awarded the Hugo Dummett award for excellence in Diamond exploration by his peers in 2004. He founded Amarillo Gold Corp. a Brazil focused gold exploration and development company, where he was CEO for 13 years. The main asset at Amarillo Gold, the Mara Rosa project, was sold to the Hochschild’s for $180M in 2023. The other assets of Amarillo Gold were spun out and now trade as Lavras Gold, a >$100M company with gold exploration assets in southern Brazil. Mr. Doyle's private project generation group, Solaris, which with his partners has more than 100 years of experience in Latin America (mainly Brazil) is responsible for the generation and early development of the Pirenopolis Gold project now under option with Rover.
Share Consolidation
The share consolidation outlined in the Company’s February 18, 2025 release is still under review with the TSXV. An updating release will be provided once the Company has received approval from the TSXV.
Appointment of New CEO
The Company is pleased to announce that Ronald V. Woo has been appointed as the Company’s new CEO, replacing Mr. Judson Culter. Mr. Culter will remain a Director of the Company. Ronald Woo, P.Eng. and MBA, was most recently CEO of Gold Mountain Mining Corp. (TSX:GMTN). Mr. Woo’s tenure with GMTN also included President and VP Permitting. Mr. Woo was previously the CEO of Bayshore Minerals Corp. and co-founder and COO for Rover Critical Minerals (formerly Rover Metals). Mr. Woo was instrumental in the permitting of Rover's Cabin Gold project near to Yellowknife, NT. Prior to that, Mr. Woo was the Mine/Project Manager for Ledcor, and held the position of Technical Services Manager for Western Canadian Coal (TSX:WTN) (2006-2010) and Senior Mine Engineer for Hunter Dickinson Inc.
Ron Woo, incoming CEO at Rover, states: “I am excited about the upside potential of the Pirenopolis Gold project, which is situated in a gold rush area that has never seen modern exploration. This presents a significant opportunity for discovering new gold deposits. The region's geology, particularly, the boundary between phyllites and metavolcanics, is promising for gold exploration. Additionally, our project benefits from Brazil's favorable mining environment, including lower costs and a supportive regulatory framework. By following the gold upstream in the streams, we have the potential to discover high-grade gold deposits. Overall, our project has the potential to yield significant gold discoveries and benefit from Brazil's mining-friendly conditions.”
Qualified Person (QP) Statement
Technical information in this news release has been reviewed and approved by David Kelsch, P.Geo., a “Qualified Person” as defined under NI 43-101 Standards of Disclosure for Mineral Projects, and an advisor to Rover.
Rover is a publicly traded junior mining company that trades on the TSXV under symbol ROVR, on the OTC Pink under symbol ROVMF, and on the FSE under the symbol 4XO. The Company has a diverse portfolio of mining resource development projects with varying exploration timelines. Its critical mineral projects include lithium. Its precious metals projects include gold. The Company is exclusive to the mining jurisdictions of the U.S. and Canada.
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Website: https://www.rovercriticalminerals.com/
ON BEHALF OF THE BOARD OF DIRECTORS
“Ronald Woo”
Chief Executive Officer
For further information, please contact:
Email: info@rovermetals.com
Phone: +1 (778) 754-2855
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, 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 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, opinions, or other factors, should change.
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