Rover Critical Minerals Enters LOI to Purchase Premium Silica Deposit with 99.6% SiO2 in Golden, BC

Rover Critical Minerals Corp. is excited to announce that it has signed a non-binding letter of intent to acquire full ownership of the Silicon Valley Silica Project, located near Golden, British Columbia (the “Transaction”), from Orichalcum Holdings Inc. (the “Vendor”).

The Silicon Valley Silica Project spans 1,760 hectares (4,349 acres) and is situated next to Golden, B.C., and the Sinova Quartz silica quarry. It includes approximately 12 kilometers of high-purity quartzite beds from the Ordovician Mount Wilson Formation. Sampling conducted in 2017 revealed SiO2 concentrations reaching up to 99.9%, with an average of 99.6% SiO2 over a 190-meter traverse, extending along the strike of the adjacent Sinova Quartz quarry. The levels of deleterious elements were found to be very low, averaging 0.03% Fe2O3, 0.02% CaO, 0.02% MgO, 0.01% P2O5, and 0.10% Al2O3.

As global efforts to address climate change boost the demand for renewable energy sources such as solar power, the market for high-purity silica (also referred to as high-purity quartz or HPQ) is expected to grow substantially. Acquiring the Silicon Valley Silica Project positions Rover to establish a strategic foothold in the rapidly growing critical minerals market.

Judson Culter, CEO of Rover, comments, “On June 10th, the Government of Canada added silicon metal to its Critical Minerals List and announced additional funding for the semiconductor and chip manufacturing sectors. The U.S. Government has also included silicon on its critical minerals list, potentially making this project eligible for funding through the Defense Production Act Investment (DPAI) program. With this acquisition, Rover is strategically positioned in one of Canada's most promising high-purity silica regions, situated next to one of the nation's largest high-purity silica producers. While silica is the second most abundant mineral in the Earth's crust, its purest form is rare and increasingly in demand for photovoltaic (PV) and semiconductor production. Industry trends, such as Intel's $20 billion investment in building the world’s largest chip-making facility in Ohio, highlight the growing importance of this sector. Considering the macroeconomic demand for chips in AI applications and geopolitical risks, particularly with Taiwan’s current market share, this deal presents a promising opportunity.”

Paddy J. Moylan, President and Director of Rover, states, “The Silicon Valley project has been in the works for a while and holds significant promise for our company and our investors. It represents a major opportunity with substantial potential. We're excited to be so close to a world-class asset, with our team already on-site. From an ESG perspective, it meets many of our criteria. I’ll be actively involved as the project progresses and am eager to finalize the definitive agreement soon. We've established an excellent working relationship in the region, and I'm delighted that Case Lewis will be joining us as our exploration manager. I have great confidence in Case’s ability to champion Rover and the Silicon Valley project. We will keep our investors updated with key developments as we move forward.”