NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR TO US WIRE SERVICES

  • Ramp-up continued at the Bobcaygeon and Orillia quarries, with a strong summer continuing into fall
  • May-June-July sold 5,409 tons realizing $82/ton with direct expenses of $42/ton
  • August sales were 2,422 tons, averaging $85/ton and September sales were 2,668 tons, averaging $80/ton
  • Total sales for June-July-August allow Rogue Stone to declare Commercial Production as of September 1st
  • A Corporate Update conference call will be held October 14th at 12:00pm EDT

TORONTO, ON / ACCESSWIRE / October 7, 2020 / Rogue Resources Inc. (TSX-V:RRS)("Rogue" or the "Company") announces that its limestone business, referred to as "Rogue Stone", continues to deliver and stays on-track with its acquisition models.

Last week the Company filed its Q1-2021 financials for the three months ended July 31, 2020 (available on Rogue's website or through the SEDAR filing system), the Bobcaygeon quarry had completed 9 months of operations and sales but remained in pre-Commercial Production, while the Orillia quarry had completed 5 months of operations and sales and also remained in pre-Commercial Production as of the end of July. During that period of May-June-July, Rogue Stone reported it had sold 5,409 tons of limestone, for Sales Receipts of $444,680, averaging $82.21 per ton sold. Expenses directly related to those Sales Receipts totaled $225,756 and expenses related to Site Preparation and Rehabilitationtotaled $59,202.

Subsequent to the end of Q1, the Company had sales of 2,422 tons in August, for Sales Receipts of $206,951and 2,668 tons in September for Sales Receipts of $213,278. Importantly, the three months of June-July-August sold more than 7,000 tons, exceeding two-thirds of the licensed capacity (6,600 tons/month) benchmark and allows the Company to declare Rogue Stone has entered into Commercial Production. The passage into Commercial Production means that Rogue will shift from capitalizing its expenses to the balance sheet and begin releasing an income statement that includes the Rogue Stone business. Rogue's next quarterly filing, for the three months ended October 31, 2020, will include Revenue and Cost of Goods Sold for the months of September and October.

Update Regarding the COVID-19 Pandemic 

The Company has been focused on the health and safety of our employees and has been practicing social distancing throughout the company. Management has been working remotely since February and our Operations teams at Rogue Stone have rigorous procedures to ensure they are following public health recommendations (the "Pandemic Protocol"). As part of the Pandemic Protocol, the Operations team members arrive in their personal vehicles, operate individual pieces of equipment, spend break time outside or back in their personal vehicles and use mobile phones to communicate with each other, with Management, and to coordinate delivery trucks that arrive to be loaded. The Pandemic Protocol has been discussed in detail with Rogue's Board of Directors, which has been receiving regular updates regarding the course of business.

"We are pleased with the continued progress we are making at our quarries. The teams remain focused on safe production and following our Pandemic Protocol", said Sean Samson, President and CEO of Rogue. "It has been a strong landscape stone market this year despite the pandemic and we plan to continue delivering great quality products and service for our customers into the winter."

Corporate Update Conference Call 

Rogue Stone progress in addition to an update on the Rogue Quartz and Rogue Timmins will be discussed in detail on a conference call with management scheduled for Wednesday October 14, 2020, at noon Eastern (9am Pacific, 6pm in Western Europe). Rogue CEO Sean Samson and VP, Technical Paul Davis will give a brief presentation followed by a question and answer period. Interested investors can forward questions in advance to questions@rogueresources.ca. Dial-in numbers to access the conference call as well as a new corporate presentation will be available 24 hours in advance on the Rogue webpage at www.rogueresources.ca.

As with past calls, a playback of the call will be available online soon afterwards.

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 quality deposits that can withstand all stages of the commodity price cycle. The Company includes Rogue Stone selling quarried limestone for landscape applications from two operating quarries in Ontario; Rogue Quartz focused on advancing its silica/quartz business with the Snow White Project in Ontario and the Silicon Ridge Project in Qubec; and Rogue Timminswith the nickel resource at Langmuir and the gold potential at Radio Hill.

Qualified Person 

The Company's Projects are under the direct technical supervision of Paul Davis, P.Geo., and Vice-President of the Company. Mr. Davis is a Qualified Person as defined by NI 43-101. He has reviewed and approved the technical information in this press release. There are no known factors that could materially affect the reliability of the information verified by Mr. Davis.

For more information visit www.rogueresources.ca or contact:

+1-647-243-6581
info@rogueresources.ca