NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES

April 30, 2024 – Vancouver, B.C. – Silver Range Resources Ltd. [TSX-V:SNG] (“Silver Range”) announces a non-brokered private placement for total proceeds of up to $300,000 (the “Offering”).

The Offering

The Offering will consist of up to 3,750,000 units at a price of $0.08 per unit.  Each unit will consist of one common share and one non-transferable share purchase warrant.  Each warrant will entitle the holder to purchase one additional common share at a price of $0.16 for a period of two years from the closing of the Offering.  
The Offering will be conducted pursuant to available prospectus exemptions, including sales to: (i) accredited investors; (ii) employees, executive officers, directors and consultants; and (iii) family and close personal friends and business associates of directors and officers of Silver Range.  Depending on demand and regulatory requirements, a portion of the Offering may also be made in accordance with the provisions of the existing shareholder exemption (the “Existing Shareholder Exemption”) contained in Multilateral CSA Notice 45-313 and the various corresponding blanket orders and rules of participating jurisdictions.  The Existing Shareholder Exemption is not available in Ontario or Newfoundland and Labrador.

The maximum gross proceeds from the Offering will be $300,000.  Unless unforeseen events or opportunities arise, the use of proceeds from the Offering will be used by Silver Range as unallocated working capital and to fund exploration activities in the United States.  All Silver Range securities issued as part of the Offering will be subject to a hold period expiring four months and one day from the date of closing of the Offering (the “Hold Period”).

If the closing market price of Silver Range shares is equal to or greater than $0.20 for a period of ten consecutive trading days following the expiry of the Hold Period, Silver Range will have the right to provide all warrant holders with notice that the expiry date for the warrants has been shortened to 30 calendar days from the giving of such notice.  The Offering is subject to TSX Venture Exchange acceptance.

Existing Shareholder Exemption Specifics

Silver Range has set April 30, 2024 as the record date (the “Record Date”) for the purpose of determining existing shareholders entitled to purchase units pursuant to the Existing Shareholder Exemption.  Subscribers purchasing units under the Existing Shareholder Exemption will need to represent in writing that they meet certain requirements of the Existing Shareholder Exemption, including that they were, on or before the Record Date, a shareholder of Silver Range (and are still a shareholder).  The aggregate acquisition cost to an individual subscriber under the Existing Shareholder Exemption cannot exceed $15,000 unless that subscriber has obtained advice from a registered investment dealer regarding the suitability of the investment.  

Unless Silver Range determines to increase the gross proceeds of the Offering and receives TSX Venture Exchange acceptance for such increase, if subscriptions received for the Offering based on all available prospectus exemptions exceed the maximum Offering amount of $300,000, the units will be allocated pro rata amongst all subscribers qualifying under all available exemptions.

About Silver Range Resources Ltd.

Silver Range is a precious metals prospect generator with projects in the Southwest United States. and Northern Canada.  The Company is focusing current and future work in the Southwest United States.  It has assembled a portfolio of 38 properties, 10 of which are currently optioned to other parties.  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 opportunities in its portfolio.

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

ON BEHALF OF SILVER RANGE RESOURCES LTD.

“Mike Power”
President and CEO

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

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.