Mr. Mike Power reports

SILVER RANGE RESOURCES LTD. ANNOUNCES PRIVATE PLACEMENT

Silver Range Resources Ltd. has arranged a non-brokered private placement for total proceeds of up to $300,000.

The offering

The offering will consist of up to 3.75 million units at a price of eight cents 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 16 cents 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 contained in Multilateral CSA (Canadian Securities Administrators) 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 finance 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.

If the closing market price of Silver Range shares is equal to or greater than 20 cents for a period of 10 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 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 southwestern United States and northern Canada. The company is focusing current and future work in the southwestern 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.

We seek Safe Harbor.