June 13, 2024 – Silver Range Resources Ltd. (TSX-V:SNG) (“Silver Range” or the “Company”) is pleased to announce exploration results from short exploration programs conducted at the Cambridge Property in Lyon County and the Sniper Property in Esmeralda County, Nevada 

Cambridge Project

Reconnaissance underground investigations determined that exposed stopes in the area of more recent excavator trenching were partially backfilled by spoil during excavation.   It appears that the upper portions of the mine might be accessible with limited underground rehabilitation.   In addition, mineralization was discovered in a subordinate footwall vein splay, oblique to the main Cambridge Vein.   Grab samples from a 15 cm exposure of this vein returned 7.61 g/t Au and 52.1 g/t Au. 

The Cambridge Project is located 33 km south of Yerington in Lyon County, NV.  It is a joint venture between Silver Range and Auburn Gold Mining LLC.  Gold was first discovered in the area in the 1860’s and intermittent mining at the Cambridge Mine is reported between 1878 and 1942.  The property is underlain by Cretaceous quartz monzonite with local thin Tertiary volcanic cover rocks.  The quartz monzonite is cut by north-trending, steeply-dipping faults or shears hosting mesothermal gold mineralization in quartz veins.  Mineralization has been traced to a depth 137 metres (450 feet) in workings at the Cambridge Mine.   The veins contain coarse grained, ribbon banded white quartz together with visible gold, pyrite, galena, pyrrhotite, chalcopyrite, lesser tetrahedrite and amorphous black sulphides in disseminations and clots.   Grab and chip samples across the property have returned analyses to 93.8 g/t Au and trench samples have returned up to 3.2 m @ 14.65 g/t Au.  Silver from trace to 274 g/t Ag is associated with the gold mineralization.   There are three known gold zones on the property – the Cambridge Mine, Price Lode and North Trends – which have an aggregate strike length of approximately 2.7 kilometres.  

A short video presentation and project brochure describing the Cambridge Property may be found on the Silver Range website at  https://silverrangeresources.com/projects/southwest-us/available-for-option/cambridge-1/

Sniper Property

At the Sniper Property, a short Packsack diamond drill hole in the north wall of a small pit returned 2.30 m @ 2.10 g/t Au and 55.3 g/t Ag from surface, with mineralization open at depth.  

The Sniper Property is located on the north flank of Gold Mountain in Esmeralda County.  Ribbon-banded quartz veins carrying pyrite, galena, tetrahedrite and secondary chrysocolla and wulfenite are present in the carapace of a Jurassic intrusion, immediately below the contact with overlying Precambrian Wyman formation metasediments. The sulphide mineralization occurs in clots and locally amounts to 20% of the vein material.   Gold and silver grades are quite high; in initial sampling by Silver Range, 7 of 14 samples collected returned assays greater than 5 g/t Au and 5 of 14 samples returned assays greater than 20 g/t Au with peak value of 121 g/t Au.  Silver assays ranged from 0.2 to 1,375 g/t Ag with 3 of 14 samples assaying greater than 100 g/t Ag.  The veins persist up to 30 m on strike, are up to 40 cm wide in outcrop and occur with andesite dykes in Jurassic Sylvania Pluton granodiorite.  A chip sample across one of the veins exposed in a bulldozer pit returned 0.4 m @ 46.3 g/t Au.   The property appears to have been initially explored with small adits and shafts prior to the 1980’s; between 1978 and 1983, these were partially covered or obliterated by bulldozer during exploration and high-grading.   The showing is one of numerous small mines and prospects in the Tokop Mining District which have produced sporadically or intermittently since 1866.   
 
A short video presentation and project brochure describing the Sniper Property may be found on the Silver Range website at https://silverrangeresources.com/projects/southwest-us/available-for-option/sniper/

A total of 4 rock samples were collected during the work programs.  Samples were shipped under chain of custody to ALS Minerals facilities in Reno, Nevada for sample preparation and analysis.  At the laboratory, samples were crushed to progressively to < 2 mm (ALS Code CR-32) and a 1 kg aliquot was pulverized to 85% passing a 75 mm mesh (Code PUL-32).  A 50 g subsample was then fire assayed with an atomic absorption finish (Code Au-AA26).  In addition, induced coupled plasma analysis for 35 elements was performed on the samples (Code ME-ICP41).  Overlimit silver, lead and zinc analyses were re-analyzed, employing techniques appropriate to samples with ore grade concentrations (ALS Codes Ag-OG46, Pb-OG46 and Zn-OG46).

Technical information in this news release has been approved by Mike Power, M.Sc., CPG, President and CEO of Silver Range Resources Ltd. and a Qualified Person for the purposes of National Instrument 43-101.

Silver Range is a precious metals prospect generator working in the Southwest United States and Northern Canada.  It has assembled a portfolio of 38 properties, of which 7 are currently under option to others.  Five other projects have been converted to royalty interests.  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.

“Mike Power”

President, C.E.O. & Director

For further information concerning Silver Range or its exploration projects please contact:

Investor & project opportunity inquiries
John Gilbert
Vice-President
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
jgilbert@silverrangeresources.com
http://www.silverrangeresources.com