Rogue Announces Optimized PEA: 75% Capex Reduction, Estimated Payback within One Year for Silicon Ridge Project

TORONTO, ON--(Marketwired - May 23, 2017) - Updated Resource: includes Measured & Indicated Resource of 7.7M tonnes grading 98.62% SiO2; Inferred Mineral Resource estimated at 2.1 Mt grading 98.66% SiO2Updated Mine Plan: incorporating less overburden and more detailed waste delineationUpdated Capex Plan: shifting to Direct-Ship ("DSO") drops pre-production capital requirements to $3.5M (including $806K contingency) and models an after-tax payback of less than one year1Optimized PEA: indicates a base case pre-tax IRR of 157% and NPV (10% discount rate) of $33.8M(after-tax NPV10% of $23.4M and IRR of 132%)2Rogue continues to advance its Plan for Silicon Ridge; focused on finalizing permitting and completing ongoing negotiations, including with potential material buyers and project financiersCorporate Update Conference Call scheduled for Thursday May 25th, 2017(1) All monetary values are stated in Canadian Dollars unless otherwise noted.(2) The PEA is preliminary in nature and includes inferred mineral resources that are too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that PEA results will be realized. Mineral resources are not mineral reserves and do not have demonstrated economic viability.