November 5, 2020 – Vancouver, B.C. – Silver Range Resources Ltd. [TSX-V:SNG] (“Silver Range”) announces that pursuant to a shares for services agreement dated April 1, 2019, as amended, it has issued 297,600 shares to Paladin Geoscience Corp. (“Paladin”), a private company controlled by Michael A. Power, the Silver Range President and Chief Executive Officer. The shares were issued in partial consideration for geological and other consulting services provided to Silver Range by Paladin during the period April 1, 2020 and September 30, 2020.
Under the shares for services agreement, Paladin at its election can receive a minimum of 50% and a maximum of 100% of its consulting fees through the issuance of Silver Range common shares. The 297,600 shares issued to Paladin are subject to a hold period that expires on March 1, 2021.
The 297,600 shares were issued at a deemed price per share equal to the market price of Silver Range shares on the TSX Venture Exchange (the “Exchange”) as calculated at the end of each month in which such services are provided, minus 50% of the discount permitted under applicable Exchange policies. All consulting fees not paid to Paladin through the issuance of Silver Range shares are paid in cash.
About Silver Range Resources Ltd.
Silver Range is a precious metals prospect generator working in Nevada and Northern Canada. It has assembled a portfolio of 43 properties, 11 of which are currently under option to others. Silver Range is actively seeking other joint venture partners to explore the high-grade precious metals targets in its portfolio.
ON BEHALF OF SILVER RANGE RESOURCES LTD.
“Ian J. Talbot”
Chief Operating Officer
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.