Mr. Judson Culter reports

SECOND CLOSE OF UNIT FINANCING

Further to its press releases of Aug. 4, 2020, Aug. 24, 2020, and Aug. 28, 2020, announcing a non-brokered unit financing, Rover Metals Corp. has closed the second tranche of the unit financing for gross proceeds of $349,920. Each unit comprises one common share and one common share purchase warrant. The second-tranche units were issued at six cents per unit, resulting in the issuance of 5,832,000 common shares and 5,832,000 warrants. The second-tranche warrants have an exercise price of 12 cents per warrant share, a life of two years and an acceleration clause if the company's common shares trade at 20 cents per common share for five consecutive days. The company expects to perform a third and final closing of its unit financing shortly.

Use of proceeds

As released on Aug. 24, 2020, and Aug. 26, 2020, the company will use the proceeds from unit financing to start exploration drilling at its 100-per-cent-owned Cabin Lake gold project as well as for general and administrative working capital. Drilling is expected to commence at Cabin Lake this Saturday. Exploration crews were mobilized to site on Thursday of this week.

As a result of the increase in the offering size of the unit financing, the company expects to be able to expand the exploration program at Cabin Lake as well as perform some airborne geophysics at its Up Town gold project. This is an initial release with regard to the increased scope of the Cabin Lake exploration program as well as exploration plans for Up Town, and an updating release will be provided once the company is able to secure contracts to do the additional work.

About the Up Town gold project

The Up Town gold project is located on the outskirts of city limits of the city of Yellowknife. The Up Town gold project is an Archean lode gold prospect adjoining the historic 8.1-million-ounce (at 16.1 grams per tonne gold) Giant mine gold deposit in Yellowknife, NWT, and Gold Terra Resources' Yellowknife City gold project. The 3,227-hectare property hosts 10 high-grade gold occurrences. Most work has been conducted at the Rod vein, which was drilled to a shallow depth in the 1960s and mined on a small scale in 1979 by previous owners. Recent historic surface sampling returned grab samples up to 318 grams per tonne gold and channel samples up to 1.20 metres of 17.27 grams per tonne gold. Drilling by Rover Metals in 2017 returned significant gold intersections in all of three holes, drilled with best results of 5.4 metres of 4.28 grams per tonne gold, including 0.9 metre of 22.10 grams per tonne gold (see Rover Metals' press release dated Oct. 4, 2017). At the Fox South zone, a different style of wide, disseminated, shear-zone-hosted mineralization returned historic surface samples up to 30.3 grams per tonne gold. Rover tested the zone with three drill holes in 2017 with best results of 7.1 metres of 0.62 gram per tonne gold, including 0.3 metre of 5.12 grams per tonne gold. Other zones on the property have not yet been explored by Rover.

Historic property-scale geochemical and geophysical surveys defined several large-scale structural corridors localizing the principal gold showings and parallel to the Giant shear zone in the Yellowknife greenstone belt. Mineralization at the Up Town gold property is granitoid hosted and belongs to the recently recognized class of Archean granitoid-hosted lode gold deposits. Prominent examples include the Woodcutters goldfields in Australia; Buzwagi in Tanzania; Renabie, Cote Lake, Hammond Reef and Hasaga in Ontario; and several mines in the Bourlamarque batholith in Quebec. Aside from historic work on the Up Town gold property, no extensive exploration for this class of deposits has been conducted in the Yellowknife area despite the large gold endowment in the district.

The Up Town gold project is permitted for drilling, and Rover Metals is actively seeking joint ventures for partnership of the exploration drilling costs.

Technical information in this news release has been approved by Raul Sanabria, MSc, PGeo, technical adviser and shareholder of Rover Metals and a qualified person for the purposes of National Instrument 43-101.

About Rover Metals Corp.

Rover Metals is a precious metal exploration company, specialized in North American precious metal resources, that is currently advancing the gold potential of its existing projects.

We seek Safe Harbor.