Silver Range Technical Disclosure
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/31/13 -- Silver Range Resources Ltd. (TSX VENTURE: SNG) (TSX VENTURE: SNG.WT) (the "Company") reports that as a result of a review by the British Columbia Securities Commission, we are issuing the following news release to clarify our disclosure.
On May 31, 2013, the Company filed an amended technical report entitled "Geology, Mineralization, Geochemical Surveys, Diamond Drilling, Metallurgical Testing and Mineral Resources at the Keg Property" dated December 19, 2012 and amended May 27, 2013. The original report contained a number of items that were not in compliance with the requirements of National Instrument 43-101. Through the amended report, the Company has addressed the following: (i) S. Drechsler, P. Geo. and M.R. Dumala, P.Eng., who authored sections of the report other than the resource estimate and metallurgical results, have been removed as co-authors of the amended report as they are not "independent qualified persons" for the purposes of NI 43-101; (ii) the treatment of historical scientific and technical information now complies with NI 43-101 requirements; (iii) consents and certificates of qualifications for the authors of the amended report have been filed; and (iv) Table 15-5 of the amended report now includes a separate categorization of mineral resources and mineral reserves for all other deposits to which the Keg deposit is compared.
In addition to filing the amended report, the Company has made revisions to the disclosure on its website, fact sheet and slide 12 of the corporate presentation to provide all information required by NI 43-101. Changes include: (i) a reference to the title and date of the amended technical report as related to the Keg Deposit mineral resource estimate; (ii) metal content and average grades are now disclosed for lead, zinc and copper; and (iii) Matthew Dumala, P.Eng., a geological consultant to the Company, is now clearly identified as the qualified person for the technical disclosure. The updated materials can be viewed on the Company's website at www.silverrangeresources.com.
The Keg Deposit:
The Keg resource estimation was completed by Gary Giroux, P.Eng., MASc. (Giroux Consultants Ltd.) who is a qualified person and independent of the issuer, based on the criteria defined by National Instrument 43-101. For further details see the technical report entitled "Geology, Mineralization, Geochemical Surveys, Diamond Drilling, Metallurgical Testing and Mineral Resources at the Keg Property" dated December 19, 2012 and amended on May 27, 2013 as filed on SEDAR.
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Inferred Resource Grades
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Cut-off Silver Lead Zinc Copper Tin Indium Silver
(Silver g/t) Tonnes (g/t) (%) (%) (%) (ppm) (ppm) Ounces
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10 63,970,000 23.63 0.21 0.64 0.12 224.5 5.07 48,599,419
12 54,640,000 25.80 0.22 0.68 0.13 238.5 5.29 45,323,287
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14 46,730,000 27.97 0.24 0.72 0.14 252.0 5.50 42,022,245
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16 39,760,000 30.25 0.26 0.77 0.15 265.7 5.77 38,668,984
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18 33,900,000 32.55 0.27 0.81 0.16 278.8 6.02 35,476,576
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20 29,210,000 34.74 0.29 0.85 0.16 292.5 6.24 32,625,139
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22 25,390,000 36.79 0.31 0.89 0.17 303.4 6.44 30,031,947
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24 21,990,000 38.94 0.32 0.92 0.18 315.7 6.63 27,530,378
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26 18,970,000 41.16 0.34 0.96 0.19 328.8 6.85 25,103,467
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28 16,470,000 43.31 0.36 0.99 0.19 341.8 7.10 22,933,629
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30 14,340,000 45.44 0.37 1.02 0.20 355.3 7.24 20,949,732
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32 12,520,000 47.54 0.39 1.05 0.20 366.9 7.33 19,136,147
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34 10,940,000 49.65 0.41 1.07 0.21 379.9 7.41 17,463,351
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36 9,570,000 51.75 0.44 1.09 0.21 390.1 7.41 15,922,575
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38 8,430,000 53.75 0.46 1.11 0.21 399.8 7.48 14,567,903
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40 7,480,000 55.63 0.48 1.12 0.21 409.4 7.47 13,378,323
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About Silver Range Resources Ltd.
Silver Range was created through a spin-out of assets from Strategic Metals Ltd. and is focused on its wholly-owned Silver Range project, where multiple bulk-tonnage and high-grade mineralized zones have been located in an area of exceptional infrastructure near the town of Faro, Yukon Territory.
ON BEHALF OF THE BOARD
W. Douglas Eaton, President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Silver Range Resources Ltd. - Corporate Information
W. Douglas Eaton
President and C.E.O.
(604) 688-2568
Silver Range Resources Ltd. - Corporate Information
Bruce A. Youngman
Chairman
(604) 687-2522
Silver Range Resources Ltd. - Investor Inquiries
Richard Drechsler
Corporate Communications
(604) 687-2522 or NA Toll-Free: (888) 688-2522
rdrechsler@silverrangeresources.com
http://www.silverrangeresources.com