Two New Gold Projects Acquired In Nevada

VANCOUVER - Silver Range Resources Ltd. has acquired two new gold properties in western Nevada. The Tondo del Pueblo (TDP) Property is in Nye County, approximately 17 kilometers north of Gabbs. Gold is found in east-striking shear zones hosting quartz veins cutting Triassic Excelsior Formation metasedimentary rocks. One shear is exposed for at least 400 m along strike. Grab samples collected from quartz veins within the exposed shears returned assays up to 35.4 g/t Au. Four of the 10 samples collected during staking returned assays greater than 5 g/t Au. Arsenic and copper are associated with the gold mineralization and pervasive scorodite occurs in some exposures. The auriferous veins display bladed quartz after calcite texture. Breccia within the veins contains clasts of metasiltstone with minor carbonate, bornite and chalcopyrite on fracture surfaces. Sampling in the area by the Nevada Bureau of Mines & Geology returned analyses up to 9.5 g/t Au and 500 ppm Ag. Silver Range examined, sampled and staked the TDP Property in October 2021.

The Alimony Property is in Nye County, 12 km northeast of Goldfield. Gold is found in silicified tuffs within Miocene Milltown Andesite with mineralization exposed in several shafts and pits. Grab samples of this material returned up to 4.84 g/t Au with 6 of 24 rock samples collected returning analyses greater than 1 g/t Au. The Milltown Andesite and associated rhyodacite hosted the bulk of the extensive gold resources mined in the Goldfield Mining District. Reconnaissance soil lines across 200 m of the inferred strike of mineralization detected anomalous gold on all lines.

Samples from both Tonto del Pueblo and Alimony were secured and transported under chain of custody to ALS Minerals facilities in Reno, Nevada for sample preparation. Pulps were shipped to North Vancouver for assaying and geochemical analyses. Rock samples were analyzed by Ultra-Trace Aqua Regia ICP-MS (ME-MS41) and fire assayed for gold (30 g sample) (Au-AA25). Samples returning overlimit silver and base metal values were reanalyzed with techniques appropriate to ore grade concentrations (Cu-OG46 / Pb-OG46 / Ag-OG46).