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Rogue Corporate Update: Snow White Bridge completed and Drilling initiated— anticipated Advancement Decision and Resource in Q2

  • Infrastructure upgrades completed at Snow White have been completed
  • Orbit-Garant initiating a diamond drill program to define the Snow White quartz zone
  • The diamond drill program results will be incorporated into a technical report expected in Q2 2018
  • Logistics negotiations are ongoing with road, rail, port and sea transport operators
  • Advancement decision remains subject to continued discussions with potential quartz buyers

TORONTO, April 30, 2018 (GLOBE NEWSWIRE) -- Rogue Resources Inc. (TSX-V:RRS) (“Rogue” or the “Company”) is pleased to provide an update on the Company’s Snow White quartz project, located near Massey, Ontario, Canada (“Snow White” or the “Project”).

Following unusually inclement weather, the Company has completed work on a bridge between its proposed quarry and processing areas at the Project. The bridge is now capable of handling industrial loads after reseating of the temporary bridge that provides access between these areas.

With access to the site now secured, Rogue has instructed Orbit-Garant to initiate the previously-announced 1,800m diamond drill program of the quartz zone (the “Drill Program”) and the Company will in parallel submit samples for geochemical analysis (see press release dated January 9, 2018). The Drill Program is expected to commence on-site at the Project this week. Following completion of the Drill Program, Rogue expects to prepare and file a technical report on the Snow White mineral resource (the “Resource Report”) that complies with the requirements of National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”).

The bridge construction, drilling, geochemical testing and Resource report development are fully funded.

Rogue is continuing its negotiations with logistics contractors and quartz buyers with a view to making an advancement decision in respect of development of the Project (the “Advancement Decision”). Using negotiated cost estimates, the Company will model the costs of producing quartz from Snow White together with its quarry operator, SCR Mining and Tunneling L.P. (see press release dated March 8, 2018). Rogue expects to make an Advancement Decision based on, among other things, its negotiated cost estimates, production model, recent metallurgical test work, historical furnace tests and, most importantly, Rogue’s ability to secure purchasers for quartz/silica production from the Project.

“Our team has been very busy over the past two months as Rogue continues to execute on its plans for 2018,” said Sean Samson, President and CEO of Rogue Resources. “We are excited to be moving through a very busy Q2, with the potential Advancement Decision in sight.”

The work completed on Snow White at this stage is preliminary in nature. The potential quantity and grade of minerals at the Project is conceptual in nature and there has been insufficient exploration to define a mineral resource. It is uncertain if further exploration, including the Drill Program, will result in the delineation of a mineral resource. The risks associated with an Advancement Decision include, without limitation, the possibility that the zone will not be economically or technically viable and/or that development timetables, cost estimates and production forecasts may not be realized. Further, the Advancement Decision is not contingent on any demonstrated economic or technical viability of the Project, whether based on completion of a pre-feasibility study, feasibility study, the Drill Program, the Resource Report or otherwise.

About Rogue Resources Inc.

Rogue is a mining company focused on generating positive cash flow. Not tied to any commodity, it looks at rock value and good grade deposits that can withstand all stages of the commodity price cycle. The Company remains focused on advancing its silica/quartz business with the Snow White Project in Ontario and the Silicon Ridge Project in Québec, exploring its other assets, including the gold potential at Radio Hill, and identifying additional projects or mines that meet its criteria.

For more information visit www.rogueresources.ca.

Qualified Person

The Company’s Exploration Projects are under the direct supervision of Paul Davis, P.Geo., and Vice-President of the Company, a Qualified Person (“QP”) as defined by NI 43-101.

For additional information regarding this news release please contact:

Sean Samson
[email protected] 
+1-647-243-6581

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Statements:

This news release contains certain statements or disclosures relating to the Company that are based on the expectations of its management as well as assumptions made by and information currently available to the Company which may constitute forward-looking statements or information (“forward-looking statements”) under applicable securities laws. 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 are events or conditions that “will”, “would”, “may”, “could” or “should” occur or be achieved.

In particular, but without limiting the foregoing, this news release contains forward-looking statements pertaining to the following: the Drill Program and the timing and results thereof; preparation and filing of the Report and the timing thereof; the development of a negotiated cost estimates production model; the Advancement Decision, the factors and contingencies contributing thereto and the timing thereof.

The forward-looking statements contained in this news release reflect several material factors and expectations and assumptions of the Company including, without limitation: business strategies and the environment in which the Company will operate in the future; commodity prices; exploration and development costs; mining operations and development parameters; regulatory restrictions; activities of governmental authorities (including changes in taxation); currency fluctuations; the global economic climate; and competition.

The Company believes that the material factors, expectations and assumptions reflected in the forward-looking statements are reasonable at this time but no assurance can be given that these factors, expectations and assumptions will prove to be correct. The forward-looking statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements including, without limitation: general economic, market and business conditions; the Company’s properties may not have the results currently anticipated by the Company; the Company may be unable to resolve geological, mechanical or operational issues in the timelines anticipated, in the manner anticipated or at all; increased costs and expenses; reliance on industry partners; risks related to operations, government and environmental regulation, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; risks in the marketability of minerals; fluctuations in commodity prices; fluctuations in foreign exchange rates and interest rates; stock market volatility; and certain other risks detailed from time to time in the Company’s public disclosure documents including, without limitation, those risks identified in this news release, and in the Company’s most recent annual and interim management’s discussion and analysis, copies of which are available on the Company’s SEDAR profile at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive and are cautioned not to place undue reliance on these forward-looking statements.

The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

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