Mr. Justin Daley reports

VR RESOURCES PROVIDES EXPLORATION UPDATE ON SILVERBACK AND EMPIRE PROJECTS, ONTARIO

VR Resources Ltd. has provided an update on its continuing exploration activities at the Silverback and Empire projects in Northwestern Ontario.

• Two holes are complete and third under way at Silverback, covering 700 metres of strike along the CZ target.
• Data from the down-hole EM survey at the Westwood target at the Empire project have arrived, and the company expects all remaining geochemical data from the December drill program next week.

Justin Daley, chief executive officer of VR Resources, stated: "The crew and rig at Silverback are fully in gear now, and we are genuinely excited about what the first two holes are showing us.

"As described in the bullets below, the geological observations so far at Silverback are consistent with our exploration model, using state-of-the-art 3-D DCIP data to identify sulphide anchored to a major structure that is evident in our magnetic data. The structure is crossing a large mafic-ultramafic body with nickel mineralization, and is invaded by a strongly altered feldspar porphyry. The presence of trace molybdenite in drill core, along with disseminated pyrite in silicified porphyry with stockwork veining, is particularly exciting as it reminds us of known intrusion-related gold systems in the Archean Superior craton elsewhere in Ontario.

"We look forward to providing further updates as our exploration advances at Silverback, and all geochemistry results are finally received for the Westwood project."

Silverback drilling progress

The first two holes at Silverback, totalling 478 metres, are now complete. The two holes are 700 m apart along the north-south strike of the CZ IP anomaly. Both holes have intersected the company's target. Key observations from drill core include:

• Molybdenite is observed locally with disseminated pyrite and hydrothermal silicification in feldspar porphyry. This supports occurrences of molybdenite observed on fractures in outcrops nearby.
• Disseminated and vein-hosted pyrite occurs in alteration zones in both drill holes, and within and around quartz-carbonate veining, aligning well with modelled IP chargeability anomalies.
• Quartz-carbonate veining is extensive in both holes, especially in zones of increased shearing and hydrothermal alteration characterized by silicification.
• Shearing and foliation are widespread in both holes, and present in all lithologic units, reinforcing the strong structural control on hydrothermal alteration and mineralization in the CZ anomaly.
• Silicification in multimetre zones of intense hydrothermal alteration are observed in the feldspar porphyry in both holes, alongside clay-sericite alteration similar in form to the altered porphyry with elevated gold reported for hole SB24-002 in news release NR-24-23 on Oct. 24, 2024.

Assay update

Receipt of final geochemical data from Westwood's drill program has been delayed due to staffing challenges at the laboratories in both Thunder Bay and Calgary through the holiday season and into January. The lab is now operating at full capacity and projects a three-week turnaround for drill core samples from the current program at Silverback. As with the Westwood drill program, the company has submitted sections of core in from the first two holes at Silverback for assay in order to receive some early geochemical data to help it calibrate its logging and better understand mineralization during the program, and to facilitate better decision making during the drill program.

As with Westwood, the company's intent for Silverback is to release all data together when they are available after drilling is completed, and after the company has had the time to complete the requisite work to review QA/QC (quality assurance/quality control) standards and blanks, calculate relevant metal ratios, and determine any relevant trace element indicator signatures for the copper-nickel-PGM (platinum group metals) targets in the case of Westwood, and with a particular focus on the potential for epizonal Au-Ag-As-Sb-Te-Mo signatures at Silverback based on the company's current observations in the first two holes.

Technical information

Surface grab samples and drill core samples were submitted for geochemical analysis to the AGAT laboratory in Thunder Bay, Ont. Drill core was logged, cut and sampled at the Holbik Exploration warehouse in Upsala, Ont., with sample preparation completed by AGAT in Thunder Bay, alongside gold and PGE determination by atomic absorption assay. ICP-MS analyses for base metals, whole rock and trace elements is performed at AGAT's laboratory in Calgary, Alta. Analytical results are subject to industry-standard and National Instrument 43-101-compliant QA/QC (quality assurance/quality control) sample procedures, including the systematic insertion of sample duplicates, blanks and certified reference material (CRM) done both externally and internally at the laboratory by AGAT, as described by AGAT.

Technical information for this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101. The content of this news release has been reviewed on behalf of the company by Justin Daley, MSc, PGeo, president and chief executive officer at VR, and a non-independent qualified person who oversees and/or participates in all aspects of the company's mineral exploration projects.

About the Empire District project

The Empire project consists of 413 mineral claims in two contiguous blocks covering 12,334 hectares. The project is located on federal Crown land, with mineral rights administered by the Ontario Ministry of Mines. There is a 2-per-cent net smelter royalty on the claims. There are no annual payments, but the ministry requires certain annual exploration expenditures and reporting (that is, mineral assessment reports) in order to maintain a mineral claim in good standing. The project falls within the Lac de Mille Lacs First Nation traditional territories.

About the Silverback project

The project consists of 71 mineral claims in one contiguous block covering 4,442 hectares. The project is located on federal Crown land, with mineral rights administered by the Ontario Ministry of Mines. There is a 2-per-cent net smelter royalty on the claims. There are no annual payments, but the ministry requires certain annual exploration expenditures and reporting (that is, mineral assessment reports) in order to maintain a mineral claim in good standing. The project fall within the Lac de Mille Lac First Nation traditional territories.

About VR Resources Ltd.

VR is an established junior exploration company based in Vancouver. VR evaluates, explores and advances opportunities in copper, gold and critical metals in Nevada, United States, and Ontario, Canada. VR applies modern exploration technologies, in-house experience and expertise in greenfields exploration to large-footprint systems in underexplored areas/districts. The foundation of VR is the proven record of its board in early stage exploration, discovery, and M&A (mergers and acquisitions). The company is financed for its mineral exploration and corporate obligations. VR owns its projects outright and evaluates new opportunities on an continuing basis, whether by staking or acquisition.

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