The 16-year-old has been linked with Rangers as well as Premier League duo Leicester City and Brighton & Hove Albion.
Lovelace was on the bench for the Lions against Blackpool at the weekend.
“I don’t know at the moment, I’m not sure, I’ll have to ask the club,” Rowett said.
“What I will say is that he has been excellent in training. It’s a difficult one in games like this when you’ve got to find a goal with 15 minutes to go. I think it’s hard to look to a 16-year-old to be the one to bring you back in when there are senior players on the bench with that experience.
“But what he has done in training has shown that he is going to be a very good player for us. All these little experiences will make him a better player in the next 12-18 months.”