SOURCE: Rogue Resources Inc.

Rogue Resources Inc.

April 01, 2016 17:50 ET

Rogue Resources Announces Oversubscription & Closing of Private Placement

VANCOUVER, BC--(Marketwired - April 01, 2016) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

Rogue Resources Inc. (TSX VENTURE: RRS) ("Rogue" or the "Company") is pleased to announce that, subject to regulatory approval, it has increased its $1,000,000 non-brokered private placement announced on March 4, 2016 to $1,163,500 and closed the second and final tranche.

The second tranche consisted of the issuance of 3,355,000 non-flow through units ("NFT Units") for gross proceeds of $335,500. This brings the total raised to $1,163,500, all in non-flow through proceeds. Each NFT Unit consists of one common share at a price of $0.10 and one non-transferable common share purchase warrant which will entitle the holder to purchase one common share at an exercise price of $0.12 until March 4, 2018. The shares in this tranche are subject to a four month hold period expiring August 2, 2016. Finder's fees in this tranche are payable as to $7,560 and 75,600 compensation warrants at an exercise price of $0.15 until March 4, 2018. For further details of the offering see the Company's March 4, 2016 news release.

Certain directors and/or officers of the Company have acquired securities under the private placement and upon closing, all officers and management of the Company will own common shares of Rogue.

The Company intends to use the net proceeds of the Offering primarily for expenditures on the Silicon Ridge Project (formerly called the Lac de la Grosse Femelle) as well as for general working capital.

Update on release of final assay results

The Company's QA/QC process identified three samples that fell outside of the technical tolerance levels and needed to be rerun with Rogue's analytical laboratory. Final results are now being consolidated and are expected to be released next week.

About Rogue Resources Inc.

With its diverse portfolio of Canadian properties, all in good standing, the Company has the ability to focus its efforts and finances on the project that demonstrates the greatest market potential for return. The current focus for Rogue is its Silicon Ridge Project in Quebec, located 42 km north of Baie-Saint Paul on the St. Lawrence River, and 4 km northeast of the Sitec silica mine, which has been in operation for over fifty years. Access to the project is via a paved highway and well maintained forestry access roads with a high voltage power line soon to be constructed to within 4km. For more information about Rogue visit www.rogueresources.ca.

Qualified Person

The Silicon Ridge Project is under the direct supervision of Eddy Canova, P Geo., and Senior Vice-President of the Company, a Qualified Persons ("QP") as defined by National Instrument 43-101, assisted by Paul Davis, P.Geo., Technical Consultant to the Company and also a QP as defined by National Instrument 43-101. Both QPs have approved the scientific and technical content of this release.

On Behalf of Rogue Resources Inc.

Sean Samson
President & CEO, Director

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: Certain disclosures in this release constitute forward-looking statements, including timing of completion of exploration work. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including that the Company is able to obtain any government or other regulatory approvals, that the Company is able to procure personnel, equipment and supplies required for its exploration and development activities in sufficient quantities and on a timely basis and that actual results are consistent with management's expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, those matters identified in its continuous disclosure filings, including its most recently filed MD&A. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

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