July 11, 2016 – Silver Range Resources Ltd. (TSX-V:SNG) (“Silver Range”) announces that it has received TSX Venture Exchange acceptance of the property transaction with Panarc Resources Ltd. (“Panarc” a private Yukon corporation) originally announced March 18, 2016 and approved by Silver Range shareholders at the June 14, 2016 Annual General and Special Meeting.
Under the terms of the property agreement, Silver Range will issue 10 million common shares to Panarc to purchase the following seven gold exploration projects:
- the Up Town gold property, a high-grade granitoid-hosted Archean gold target located in the Northwest Territories (adjacent to a multi-million ounce past producer);
- three iron formation hosted gold targets in the Contwoyto Lake – Back River area of Nunavut (consisting of the Esker Lake, the Gold Bugs and the Bling properties);
- the Hard Cash gold property, an Archean greenstone lode gold prospect located in the Ennadai Lake area of Nunavut and
- two epithermal gold targets covering small past producers in Nevada (the Road Gold property in the Santa Fe District and the Bellehelen property in the Kawach Range).
Silver Range will acquire a 100% interest in each of the seven properties. Panarc will not retain any royalty or other residual interest in any of the projects.
Silver Range will continue to build on its portfolio of high grade gold targets in Nunavut, the Northwest Territories and Nevada in order to fulfil an increasing demand for gold projects in politically stable jurisdictions. An updated corporate presentation as well as summary information for many of Silver Range’s new projects is now available atwww.silverrangeresources.com.
ON BEHALF OF SILVER RANGE RESOURCES LTD.
President, C.E.O. & Director
For further information concerning Silver Range or its exploration projects please contact:
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 release.
This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.