Cabin Gold Group of Projects

Phase 2 Exploration Program - 2021

In Q4-2020, Rover reported the definition of the high-grade gold Arrow Zone, highlights of which include DDH-20-08 which reported 32 continuous meters of 13.6 g/t Au. The Arrow Zone is located along the southeast arm of the Bugow Iron Formation. The Bugow Iron Formation is over 15km in surface length, and has multiple historic gold bearing zones. In July 2021, Rover commenced its Phase 2 Exploration Program at the Cabin Gold Project. The program included diamond NQ drilling, airborne magnetics/geophysics, airborne LiDAR, and a ground IP/VLF survey. The major goals of the Phase 2 Exploration Program were to: (1) further define the continuity of economic gold grades across the entire Bugow Iron Formation (>15 km in surface length), as well as; (2) search for, and define, new gold bearing iron formations in the region, including at the Slemon Gold and Camp Gold projects.

Diamond drilling and the ground ground IP/VLF survey at Cabin Gold focused on further expansion and delineation the following historic targets:

  1. The Beaver Zone; and
  2. The Andrew South and North Zones

Beaver Zone

Andrew Zone South

Andrew Zone North

IP Survey Results

In Q4-2021, Rover tested a ground induced polarized survey (“IP Survey”) over proven high-grade gold zones on the property. The test results indicated a high correlation between IP Survey chargeability and the high sulfides in the Bugow Iron Formation. High-grade gold at Cabin is associated with high-sulfides. The Company followed up the successful test, with an extensive ground IP Survey that covered the Beaver Zone, Andrew Zone, and the Camp Target. The Company is pleased to announce that one of the highlights of the IP Survey is a large anomaly that appears to extend the Beaver Zone 200 meters to the southeast (of the final drill hole of the 2021 drill program, CL-21-40), trending towards the high-grade Arrow Zone. On December 7, 2021 the Company released the results of its drilling at the Beaver Zone. Highlights from drilling at the Beaver Zone included 6.4 meters of 4.63 g/t Au (from 42.6m to 49.0m), including 2.6 meters of 7.80 g/t Au. Highlights of 2020 drilling at the Arrow Zone included 32 meters of 13.6 g/t Au.

Map of IP Survey

IP Survey Comprehensive Results

The Company is also pleased to be reporting on the discovery of three large IP anomalies: (1) the aforementioned Beaver Zone; (2) the Andrew South IP Target, and (3) the Camp IP Target. The dipole-dipole IP Survey comprised 25m station spacing along lines spaced 25 meters apart, with a 40m depth slice of chargeability.

Beaver Zone IP Anomaly

The IP anomaly extending 200 meters to the southeast of drill hole CL-21-40 has never been drilled and provides exciting blue sky discovery potential to the project.

Map of the Beaver Zone IP Anomaly

Andrew South IP Anomaly

The Andrew South IP anomaly is located approximately 350 meters northeast of the Beaver Zone, close to southern tip of the Andrew Zone. The IP anomaly appears to indicate the discovery of a new limb of the Bugow Iron Formation trending from southeast to northwest parallel to both the Beaver Zone and the Andrew Zone. The Andrew South IP Anomaly has never been drilled and provides exciting blue sky discovery potential to the project.

Map of the Andrew South IP Anomaly

Camp IP Anomaly

The historic Camp area exists along the primary limb of the Bugow Iron Formation, to the northwest of the Beaver Zone. This new IP anomaly has never been drilled, and provides exciting blue sky discovery potential to the project.

Map of the Camp IP Anomaly

Technical information in this page of the Rover Metals website has been approved by David White, P.Geo., Technical Advisor of Rover and a Qualified Person for the purposes of National Instrument 43-101.