Mr. Justin Daley reports

VR RESOURCES CONFIRMS PGE AND NICKEL-COPPER FERTILITY AT EMPIRE PROJECT IN NORTHWEST ONTARIO

VR Resources Ltd. has released results from the maiden reconnaissance drill program on the Westwood target, part of the Empire project in Northwestern Ontario.

Copper, nickel and platinum group elements (PGE) mineralization within the Westwood complex was first observed at the Trans Canada highway occurrence on the western margin of a more than two-kilometre-long, northeast-striking magnetic high anomaly. Drilling has now confirmed the anomaly to be a fertile, multiphase mafic-ultramafic intrusion with magmatic cumulate textures and sulphide segregation spanning more than 900 metres, on opposing sides of the intrusion. The highway occurrence shows a southeasterly dip to the zonation within the intrusive complex, which is also now observed in oriented drill core measurements; the northern margin of the anomaly is now inferred to be the basal contact of the multiphase and steeply dipping intrusion and is considered the most prospective for PGE.

Highlights of the recent drilling include:

• One m intervals with 262, 138 and 118 ppb (parts per billion) Pd+Pt (palladium plus platinum) on the basal contact in holes 4 and 5, from the same pad, in weakly developed segregation textures, along trend from the highway outcrop.
• Copper-nickel mineralization up to 0.09 per cent Cu and 0.11 per cent Ni, with anomalous PGE, at 320 m depth in hole 2.
• Evidence for localized sulphide saturation and Ni-Cu-PGE depletion, movement and enrichment within cumulate textured mafic rocks across the complex.

From VR Resource's chief executive officer, Justin Daley: "The full data set for drilling geochemistry has shown us that the right processes are at play for Ni-Cu-PGE mineralization within the Westwood intrusive complex, and perhaps within each of the nearby targets in our district-scale Empire project. As such, this drilling is an important step in advancing our exploration model for fertile intrusions in this previously unexplored part of the Marmion terrane.

"The text in the following sections describes the two specific styles of sulphide mineralization intersected on opposing sides of the complex. The prospectivity along the northern contact of the intrusion, with anomalous PGEs, highlights potential for further precious metals mineralization (Au-Pt-Pd) along this magnetic gradient trend, particularly at other DIGHEM anomalies.

"It is also encouraging to see a strong spatial relationship between copper-nickel sulphide mineralization in hole 2 and the DIGHEM and IP chargeability anomaly targeted by that hole. The down-hole EM probe completed on hole 002 further refines this correlation which is evident in the cross-section in Figure 1 [shown in the original version of this news release].

"The data now in hand prove the Cu-Ni-PGE mineral deposit model for Westwood. The company's exploration technologies are working, and it believes it now has the vectors for targeting mineralization at Westwood. Further, the low-cost DIGHEM-magnetic surveys successfully used at Westwood can now be applied to our other targets within the Empire project, for example the Trewartha and Mack intrusive targets shown on Figure 2 [shown in the original version of this news release]."

Footwall PGE mineralization trend

PGE mineralization occurs at both locations where the northwestern footwall contact of the mafic intrusion has been observed, at the highway occurrence and now at hole 4 and 5, where a mafic segregation zone reaches up to 0.27 g/t Au+Pt+Pd. Hole 3 aimed to test this contact as well but stayed in the depleted leucogabbro, showing the importance of using the magnetic gradient and understanding fault offsets in targeting this mineralization style going forward. In both areas of mineralization, high tenor sulphides occur within a few metres of the steep southeast-dipping contact zone. There is an untested DIGHEM conductor anomaly on this same contact trend about 750 m to the northeast.

Hole 5, WW24-005, was completed to 201 m. It was drilled as a follow-up to the shallowly inclined hole 4 that collared into the target rock unit: a coarse-grained, cumulate-textured mafic-ultramafic intrusive. Hole 5 was drilled at the same azimuth as 004 but inclined more steeply to intersect more of the cumulate-textured mafic rock dipping steeply to the southeast.

Hole 2 sulphide segregation

A net-textured magmatic sulphide zone from 310 to 322 metres in hole 2, reaches up to 0.09 per cent Cu and 0.11 per cent Ni, yet is relatively depleted in precious metals, up to 40 ppb Au+Pt+Pd, providing strong evidence for sulphide segregation and PGE mobility. This mineralization is directly below the vertical IP anomaly that comes to surface at the 900-hertz DIGHEM conductivity anomaly targeted by this hole, reinforcing the efficacy of these geophysical surveys despite DIGHEM only seeing to approximately 75 m depth. Down hole from this sulphide zone and moving laterally toward the southern edge of the intrusion in this shallowly dipping hole, the copper and PGE grades are extremely depleted (less than 10 ppm (parts per million) copper), suggesting metal migration is occurring within the complex towards a potential reef zone.

Empire project targeting

The Empire project's mafic intrusion targets are all multikilometre magnetic anomalies. However, drill core measurements indicate a low correlation between magnetism and mineralization at Westwood and in regionally important PGE deposits. Mafic cumulate rocks with segregation textures and sulphide mineralization typically have weak magnetic signatures, but occur in relation to more magnetic mafic-ultramafic phases, which necessitates geophysical techniques such as DIGHEM-magnetic surveys and IP chargeability for effective targeting in this covered terrain.

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 by VR 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 des Mille Lacs 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 a continuing basis, whether by staking or acquisition.

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