Rover Metals provides update on its Northwest Territories Gold Projects

20 February 2020

Rover Metals Corp. is pleased to announce that it has entered into an amending agreement with Silver Range Resources Ltd.  and Panarc Resources Ltd., amending the terms of Rover’s option to acquire a 100% interest in the Up Town Gold Property, in Yellowknife, Northwest Territories, of Canada.

The Amending Agreement provides for, among other things, an extension of the timeframes within which Rover Metals must incur certain expenditures on the Property and an extension of the timeframe for the final payment required to be made by Rover Metals to Silver Range.
Pursuant to the Amending Agreement, the Company has extended the deadlines needed to exercise the First Option and acquire a 75% undivided interest in the Property as follows:

  • the final payment of $120,000 has been extended from February 28, 2020 to March 16, 2021; and 
  • the exploration expenditures requirement of $1,250,000 has been extended from February 28, 2020 to March 16, 2021