Mr. Justin Daley reports

VR RESOURCES CLOSES NON-BROKERED FLOW THROUGH PRIVATE PLACEMENT

VR Resources Ltd. has closed the non-brokered flow-through private placement (the FT financing) for gross proceeds of $400,000 through the issuance of eight million units (the FT units) at a price of five cents per FT unit.

Each FT unit consisting of one flow-through common share (FT share) of the company and one-half of one non-flow-through common share purchase warrant. Each warrant entitles the holder to acquire one additional common share at an exercise price of eight cents per share for a period of 18 months from the closing date.

The company plans to direct the funds immediately toward drilling planned for January on its copper-nickel-PGE (platinum group element) and copper-gold properties in Northwestern Ontario, namely: the new chargeability anomaly at Silverback, and follow-up drilling to the recently completed phase 1 drill program at Westwood on the Empire project.

Red Cloud Securities Inc. acted as a finder in connection with the non-brokered private placement. The company paid a fee of $24,000 and 480,000 compensation warrants to Red Cloud in association with the FT financing. The compensation warrants will permit the purchase of one common share in the capital of the company at a price of five cents per common share for a period of 18 months from closing of the offering.

Use of proceeds

The gross proceeds from the sale of the FT units will be used by the company to incur eligible Canadian exploration expenses that will qualify as critical metals flow-through mining expenditures as such terms are defined in the Income Tax Act (Canada), and are related to the company's mineral exploration projects in Ontario, Canada, on or before Dec. 31, 2025, and the company will renounce all qualifying expenditures in favour of such subscribers to the financing effective Dec. 31, 2024.

About VR Resources Ltd.

VR is an established junior exploration company based in Vancouver. VR evaluates, explores and advances large-scale, blue-sky opportunities in copper, gold and critical metals in Nevada, U.S., and Ontario, Canada, and more recently, Canada's newest discovery of a diamond-bearing kimberlite pipe at its Northway project. VR applies modern exploration technologies and leverages in-house experience and expertise in greenfields exploration to large-footprint mineral systems in underexplored areas/districts. The foundation of VR is the proven record of its board in early-stage exploration, discovery, and mergers and acquisitions. The company is financed for its mineral exploration and corporate obligations. VR owns its properties outright and evaluates new opportunities on a continuing basis, whether by staking or acquisition.

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