Mr. Mike Power reports

SILVER RANGE RECEIVES EXCHANGE ACCEPTANCE OF PROPERTY AGREEMENT WITH PANARC RESOURCES

Silver Range Resources Ltd. has received TSX Venture Exchange acceptance of the property transaction with Panarc Resources Ltd. (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 multimillion-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;
• 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-per-cent interest in each of the seven properties. Panarc will not retain any royalty or other residual interest in any of the projects. The 10 million Silver Range shares being issued to Panarc will be subject to a four-month hold period in Canada expiring on Nov. 9, 2016.

Silver Range will continue to build on its portfolio of high-grade gold targets in Nunavut, the Northwest Territories and Nevada in order to fulfill 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 are now available at the company's website.

We seek Safe Harbor.