Rover Metals Corp. (TSX-V: ROVR) (OTCQB: ROVMF) (FSE:4XO) is pleased to announce that further to its March 21, 2022 release, and its April 26, 2022 release, the Company has now closed its $0.05 Unit Financing, raising gross proceeds of $1,991,260.

$0.05 Unit Financing

On March 21, 2022, Rover closed the first tranche of the financing for gross proceeds of $1,180,510. The First Closing was comprised of $1,044,000 worth of $0.05 Units, and $136,510 worth of $0.055 flow-through common shares. Each Unit is comprised of one common share and one half of a warrant to purchase common shares. The warrants have an exercise price of $0.075 and a life of three years. On April 26, 2022, Rover closed the second tranche of the financing for gross proceeds of $467,500. The Second Closing was comprised of $412,500 worth of $0.05 Units, and $55,000 worth of $0.055 flow-through common shares.

Today the Company is announcing the third and final closing of its financing for gross proceeds $343,250.00. The Third Closing is comprised of $332,250 of $0.05 Units and $11,000 of $0.055 flow-through common shares. The proceeds from the Third Closing will be used for exploration at the Company’s Cabin Gold Project, and future working capital, including general and administrative expenses.

A total of $1,991,260 has been raised under the $0.05 Unit Financing, from all three closings, resulting in the issuance of 35,775,000 common shares and 17,887,500 warrants (excluding finder’s fee warrants), from the sale of Units, and the issuance of 3,682,000 common shares from the sale of flow-through shares (or a total issuance of 39,457,000 common shares and 17,887,500 warrants).

Finders’ commissions are being paid in connection with the $0.05 Unit Financing in the amount of cash commissions of $88,695.70 and finders’ warrants of 1,748,840. The finder’s warrants have an exercise price of $0.075 and a useful life of three years. The shares and warrants issued under the $0.05 Unit Financing, including Finder’s warrants, bear the minimum four-month regulatory hold period from the date of issuance at each closing.

About Rover Metals

Rover is a precious metals exploration company specialized in North American (Canada and U.S.) precious metal resources, which is currently advancing the gold potential of its existing projects in the Northwest Territories of Canada (60^th parallel), and north-central Nevada, USA. The Company owns five gold projects. Phase 3 Exploration at its Cabin Gold Project, 60^th Parallel, NT, Canada, commenced in March 2022 and continues through to the date of this release. Phase 1 Exploration at its Tobin Gold Project commenced in May 2022 and continues through to the date of this release. Lastly, the Company, is also awaiting news from the Phase 2 Exploration Program at its Up Town Gold Project, in the Northwest Territories of Canada (60^th parallel).