Mr. Nasim Tyab reports
ROVER ACQUIRES 100% INTEREST IN THE PIRENOPOLIS GOLD PROJECT, BRAZIL
Further to its releases of Feb. 18, 2025, and April 10, 2025, Rover Critical Minerals Corp. has now fulfilled all obligations with Solaris Geologia e Pisquisa Mineral Ltda. for the acquisition of the Pirenopolis gold project.
Underlying optionor commitments
The underlying optionor will retain a 2.0-per-cent net smelter return (NSR) royalty on any future mineral production. Rover will have the right to purchase 50 per cent of this NSR for $1-million (U.S.).
Notwithstanding the NSR, Rover will pay to the underlying optionor certain advanced royalty payments (which will be credited against future royalty payments owing), as follows:
- $120,000 (U.S.) within 30 days of Rover announcing a resource;
- $250,000 (U.S.) within 30 days of Rover announcing a decision to apply for a mining licence.
Pirenopolis gold project, Brazil
The Pirenopolis gold project is located in the mining-friendly state of Goias, Brazil. This early-stage project encompasses two parallel stream catchments containing highly anomalous gold within 25 kilometres of the village of Pirenopolis, a town founded by a gold rush in the late 1700s. The rush ebbed prior to the coming of industrialization and the area has seen very little modern exploration since. The hard-rock sources of the Pirenopolis and surrounding rivers' alluvial gold have never been located. The property occurs in the same geological belt as the Paracatu gold mine, also located in Brazil, which is Kinross Gold Corp.'s largest operation globally. The Pirenopolis gold project is interpreted as an orogenic gold target with features similar to Paracatu, such as being in the same geological rocks and having regional tectonic structures observed in airborne geophysics transecting the property.
In addition to highly anomalous stream sediment BLEG (bulk leach extractable gold) samples assaying 4.8 parts per million gold and 2.4 parts per million gold, quartz vein float material sampled in the stream bed load assayed 0.8 gram per tonne gold. Furthermore, government airborne geophysics shows an interpreted large-scale regional magnetic structural break cutting across the property up stream from the anomalous samples. The next steps are to continue stream sampling up the drainages to locate the point of gold introduction into the bed load. This area would then be systematically soil sampled and prospected and receive a targeted geophysical campaign. Success here could lead to an early drill program.
Like Pirenopolis, the Paracatu deposit area also sustained a gold rush in the late 1700s. Modern exploration led to an economic bedrock source discovery in the 1980s. Rover hopes to repeat similar success with this project.
The property area is cattle grazing farmland with nearby quartzite quarries and in excellent infrastructure within the power grid and is accessible by light truck or SUV (sport utility vehicle). Goias, being the third-largest mining state in Brazil, has a number of operating gold mines such as Serra Grande by Anglo Ashanti, Chapada (copper/gold) by Lundin Mining and Pilar Gold's PGDM complex, which consists of four mines. The company sees this opportunity as an opportunistic low-cost entry point to the country of Brazil, a nation of vast mineral wealth.
Nasim Tyab, chief executive officer of Rover, stated, "Now that we have fulfilled all the obligations for the purchase of the Pirenopolis gold property, we are excited to be proceeding with the next phase of exploration in this former-gold-rush area, utilizing modern exploration methods, with the goal of repeating a similar success to Paracatu, which is one of the largest open-pit gold mines in Brazil and also in the world."
Qualified person statement
Technical information in this news release has been reviewed and approved by David Kelsch, PGeo, a qualified person as defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects, and an adviser to Rover.
About Rover Critical Minerals Corp.
Rover is a publicly traded junior mining company that trades on the TSX Venture Exchange under symbol ROVR. The company is a junior gold exploration company.
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