Toronto, Canada – Junior venture mineral exploration company RooGold Inc. (CSE: ROO) (OTC: JNCCF)  has announced its plan to expand the company’s current gold portfolio and enter the battery metals sector, having released an LOI to acquire Next Generation Resources (NextGen).

Both RooGold and NextGen are based in Canada – Toronto and British Columbia, respectively. RooGold’s newly reorganized corporate leadership team made the decision to acquire NextGen based on its interest as a company in securing a place in the battery metals industry.

In 2021 the global battery metals market was valued at $14.5 billion USD. It’s expected to reach a value of $25.66 billion USD by 2028 with a CAGR of 8.5% over the forecast period (2022-2028). 

This significantly growing industry is of interest to many mining companies, and RooGold’s plan to acquire NextGen will provide RooGold diversification of its precious metals portfolio and new exposure into the growing battery metals space. NextGen operates a portfolio of exploration-stage properties in Liberia and focuses on battery metals such as lithium, nickel, and cobalt, as well as gold, copper, and zinc. Upon completing the acquisition, RooGold will own NextGen’s three current mineral reconnaissance licenses in Liberia, which total 604 square miles (1,566 sq km), as well as the four additional licenses that NextGen is now acquiring, adding another 293 square miles (760 sq km) to its overall property package.

RooGold recently appointed Vishal Gupta as interim CEO and director; after RooGold acquires NextGen, the RooGold leadership team will welcome David Kol, the founder and director of NextGen, as a new member of RooGold’s board of directors. “David Kol brings valuable experience and knowledge of Libera’s mineral exploration industry,” Gupta says. “We’ve been focusing primarily on New South Wales, and will continue to do so; so Kol’s insight into the Liberian market will help as we diversify.”

He adds that Kol will bring along his technical team that he has built at NextGen, which includes geologists, geotechnicians, consultants, and ex-patriots who know the region exceptionally well. “Kol’s team has already initiated field work in Liberia,” Gupta shares. Field work such as geological mapping, prospect sampling and soil geochemical surveys have begun, and results from the company’s field work is expected to be completed in Q1 of 2023.

As RooGold continues to explore gold mining opportunities in New South Wales, the company’s team is optimistic about expanding into the battery metals space by exploring high potential properties in Liberia. “While we continue to advance our Australian precious metals properties with a renewed focus on targeted exploration and resource development, we are looking forward to collaborating with NextGen’s team to unlock the value in their highly prospective Liberian property portfolio,” Gupta says.

“The addition of a large portfolio of lithium-focused assets in Liberia to our existing precious metals properties in Australia provides RooGold’s shareholders an incredible optionality in today’s turbulent commodity markets,” Gupta states. “We believe that demand for battery metals will far outstrip supply for the foreseeable future, and the acquisition of NextGen provides RooGold with tremendous exposure to this very exciting commodity space.”

RooGold Inc. is a Canadian junior venture mineral exploration company that consolidates and explores highly mineralized precious metals properties in Australia. RooGold analyzes, acquires, explores, and mines these properties for the purpose of producing precious metals.

Website: https://roogoldinc.com/

Twitter: https://twitter.com/RooGold_Inc

Contact:

Ryan Bilodeau

(416) 910-1440

[email protected]