Vancouver, British Columbia - Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO) ('Rover' or the 'Company') announces that is has received approval from the Toronto Venture Exchange (the 'TSXV') to re-price issued and outstanding stock options granted to arm's length consultants of the Company. Also, further to its news release of January 3, 2023, the Company has received approval from the TSXV to re-price and extend the lives of warrants issued under previous private placements.

Terms of the Stock Option Repricings

On a post-consolidation basis (see October 28, 2022 release), the Company has 208,332 stock options outstanding, with an exercise price of $0.36. The Company has amended the exercise price to $0.15 per option share.

On a post-consolidation basis, the Company has 58,333 stock options outstanding, with an exercise price of $0.39. The Company has amended the exercise price to $0.15 per option share.

On a post-consolidation basis, the Company has 50,000 stock options outstanding, with an exercise price of $0.45. The Company has amended the exercise price to $0.15 per option share.

On a post-consolidation basis, the Company has 29,166 stock options outstanding, with an exercise price of $0.72. The Company has amended the exercise price to $0.15 per option share.

On a post-consolidation basis, the Company has 8,733 stock options outstanding, with an exercise price of $0.90. The Company has amended the exercise price to $0.15 per option share.

A total of 354,564 outstanding stock options have had their exercises prices amended to $0.15 per warrant share.

Warrant Repricings

Further to its news release of January 3, 2023, the Company has received approval from the TSXV to reprice and extend the lives of the following issued and outstanding warrants:

Pursuant with TSXV policies, the warrants now have an acceleration clause such that if the closing price for the Company's shares are 25% higher then the exercise price (or greater) for a period of 10 consecutive trading days, then the warrant holders will have 30 days to exercise their warrants; otherwise, the warrants will expire on the 31st day.

Judson Culter, CEO at Rover Metals, states 'repricing our stock options and warrants to these levels provides a realistic hurdle to access quick growth capital, free of corporate finance fees and marketing and travel fees that are associated with traditional financing instruments. Additionally, stock options and warrants priced at these new levels has the potential to reward our retail investors and consultants that have taken the risks associated with getting involved with our company in the early stages. We are committed to our shareholder-base and our management team will work hard in the coming year to try and unlock the value of these warrants for them.'

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 or 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 or opinions, or other factors, should change.

Contact:

Rover Metals Corp. HEADQUARTERS

Suite 908 - 938 Howe Street

Vancouver, BC, Canada V6Z 1N9

T: (+1) 778-754-2855

E: info@rovermetals.com

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