/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR
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VANCOUVER, Aug. 13, 2018 /CNW/ - Rover Metals Corp.
(TSXV: ROVR) ("Rover Metals" or the "Company") is
pleased to announce on August 9, 2018
it completed its acquisition of the historic Cabin Lake property
(the "Cabin Lake Property") from Silver Range Resources (TSXV:
SNG). Pursuant to the acquisition, Silver Range Resources has
retained a 2% net smelter royalty, buyable down to 0.5%.
Historically, the Cabin Lake project was incubated, and explored
by Grenville Thomas through his
legacy company, Aber Resources, in the late 1980's. Rover Metals
acquired over 10,000 meters of historical exploration data from
North Arrow Minerals (TSXV: NAR) in March of this year. The Cabin
Lake property is located 110 kilometres northwest of Yellowknife and 38 kilometres north of
Behchoko in the Tlicho Traditional Territory, central Northwest Territories. The property hosts
high-grade gold in iron formation within Archean metasedimentary
rocks. Historic work by Cominco Ltd., Freeport McMoRan Gold
Company, and Aber Resources Ltd. centred on a steeply east-plunging
package of folded sulphidized iron formation containing pyrite,
pyrrhotite, chalcopyrite and arsenopyrite. Three historic resources
are reported on the property in the NWT Minerals Database (NORMIN
085OSW0001). On the south limb of the fold, Aber Resources Ltd.
reported a resource of 100,000 tons at 0.30 ounces per ton gold in
their annual report while on the north limb of the fold, Energy
Mines and Resource Canada Mineral Bulletin MR223 records a mineral
inventory of 43,900 tonnes at 4.39 grams per tonne gold in the
Bugow Zone and 18,100 tonnes grading 7.89 grams per tonne gold in
the Andrew North Zone.mThe reader is cautioned that these resources
are historic in nature, do not comply with National Instrument
43-101 and have not been verified by Rover Metals.
Rover Metals also owns 100% interests in both the Slemon Lake
and Camp Lake projects which are located approximately 10 km and 20
km away, respectively, from the Cabin Lake Property.
On July 24, 2018 Rover Metals
announced that it has received a five-year land use permit (the
"Land Use Permit") from the Wek'eezhii Land and Water Board and the
Mackenzie Valley Land and Water Board. The Land Use Permit incudes
the historic Cabin Lake project, the historic Slemon Lake project,
and the historic Camp Lake project, collectively, the "Cabin Lake
Group of Properties."
Technical information in this news release has been approved by
Mike Power, M.Sc., P.Geo., President
and CEO of Silver Range Resources Ltd. and a Qualified Person for
the purposes of National Instrument 43-101.
About Rover
Rover Metals is a natural resource exploration company
specialized in Canadian precious metal resources and is currently
focused on the Northwest
Territories of Canada.
ON BEHALF OF THE BOARD OF DIRECTORS
"Judson Culter"
Judson Culter
Chief Executive Officer and Director
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 will 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.
SOURCE Rover Metals Corp.
