Rover Renegotiates Lgl Property Option Agreement
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ROVER RENEGOTIATES LGL PROPERTY OPTION AGREEMENT
Vancouver, British Columbia – (August 23, 2024) – Rover Critical Minerals Corp. (TSXV: ROVR) (OTCQB:
ROVMF) (FSE:4XO) (“Rover” or the “Company ”) is pleased to announce the re-negotiation and extension of
payment deadlines under the Let’s Go Lithium (“LGL”) project purchase option agreement.
Let’s Go Lithium Project, Nye County, NV, USA
The Company has extended its future cash and share payment deadlines for the underlying purchase option
agreement for LGL, with the vendor of the project, GenGold2, LLC, such that the new future payment schedule is
as follows:
Cash payments
• On or before January 31, 2026, make a cash payment equal to 10% of the total expenditures incurred with
respect to the Let’s Go Lithium Property, subject to a minimum payment of US$20,000 and a maximum
payment of US$50,000;
• US$75,000 due on or before January 11, 2027;
• US$80,000 due on or before January 11, 2028;
• US$100,000 due on or before January 11, 2029;
• US$150,000 due on or before January 11, 2030;
• Make a further cash payment as is required such that the total consideration paid pursuant to the cash payments
above (years 2026-2030) equals US$500,000; on or before January 11, 2031; and
• If an inferred resource (in accordance with National Instrument 43 -101 Standards of Disclosure for Mineral
Projects (“NI 43-101”)) of 850,000 tonnes of lithium is defined, the Company must, within 30 business days
of the publication of such inferred resource, make a cash payment of US$1,000,000 to GENGOLD. The
Company will, however, be entitled, at its sole discretion, to elect to make up to 50% of such cash payment in
the form of Company’s shares. The Company, at its sole discretion, may elect to make the above US$1,000,000
cash payment at any time, without disclosure of an inferred resource, or with the disclosure of an inferred of
less than 850,000 tonnes of lithium. The parties agree that the payment of US$1,000,000 (in cash or in a
combination of cash and the Company shares) is mandatory for the option to be exercised.
Share issuances
• Issuance of US$100,000 shares of the company on or prior to January 31, 2026;
• Issuance of US$250,000 worth of the Company shares on or prior to January 31, 2027; and
• Issuance of US$250,000 worth of the Company shares on or prior to January 31, 2028.
Judson Culter, CEO at Rover, states: “We continue to preserve our cash position and keep a low burn rate as we
ride-out the bear market in junior mining lithium stocks. We have tremendous relationships with all of our business
partners that allow us to stay nimble, while at the same time allowing us to execute on the continued growth of the
business.”
About Rover Critical Minerals
Rover is a publicly traded junior mining company that trades on the TSXV under symbol ROVR, on the OTCQB
under symbol ROVMF, and on the FSE under symbol 4XO. The Company is focussed on the permitting and
exploration of a claystone lithium project in the Amargosa Valley of Nevada, USA, as well working to finalize the
acquisition of the Silicon Valley project in Golden, BC, Canada.
You can follow Rover on its social media channels:
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for corporate videos.
Website: https://www.rovercriticalminerals.com/
ON BEHALF OF THE BOARD OF DIRECTORS
“Judson Culter”
Chief Executive Officer and Director
For further information, please contact:
Email: [email protected]
Phone: +1 (778) 754-2617
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.
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.