Mr. Robert Archer reports

NEWRANGE SHAREHOLDERS PROVIDE OVERWHELMING SUPPORT FOR MERGER WITH MITHRIL RESOURCES

At Newrange Gold Corp.'s annual general and special meeting of shareholders held virtually on Thursday, Oct. 5, 2023, shareholders voted overwhelmingly in favour of all items to be voted upon, including the proposed merger with Australian Securities Exchange listed Mithril Resources Ltd.

Of the 37,753,820 shares issued and outstanding, 11,946,974 shares, or 31.64 per cent, were voted at the meeting and all matters were passed with more than 99 per cent in favour. On the previously announced transaction (see Newrange's news release dated May 25, 2023) whereby Newrange will acquire 100 per cent of the issued share capital of Mithril Resources in a friendly business combination, shareholders voted 99.91 per cent in favour. The arm's-length transaction is being completed through a scheme implementation deed and will be classified as a reverse takeover (RTO) under the TSX Venture Exchange RTO Policy 5.2. Newrange will remain as the resulting Tier 2 mining issuer, to be renamed Pinnacle Silver and Gold Corp., and Mithril will be delisted from the ASX. Details of the RTO are outlined in the information circular and the scheme booklet, both of which are available on the Newrange website. All components of the RTO are subject to final TSX-V approval and the company notes that, until all conditions precedent have been satisfied, there is no certainty that the scheme will proceed.

About Newrange Gold Corp.

Newrange is an exploration company listed on the TSX-V with a focus on district-scale exploration for precious metals in the prolific Red Lake district of Northwestern Ontario, Canada. The past-producing high-grade Argosy gold mine is open to depth while the adjacent North Birch project offers additional discovery potential.

We seek Safe Harbor.