Silver Range Resources Limited: Announces the Granting Of an Incentive Stock Option

And the Surrender for Cancellation of Certain Previously Granted Incentive Stock Options

Vancouver - Silver Range Resources Ltd. (TSX-V:SNG) (“Silver Range”) announces that it has granted an incentive stock option to its new President and Chief Executive Officer Michael Power, P. Geo., entitling him to purchase up to a total of 450,000 common shares at a price of $0.13 for a period of five years, which option will vest on a quarterly basis commencing three months from the date of grant.

Silver Range also announces that it has accepted the surrender for cancellation of certain incentive stock options from W. Douglas Eaton, the Company’s former President and Chief Executive Officer, which options entitled Mr. Eaton to acquire up to 320,000 common shares at prices ranging from $0.30 to $1.31 per share.


ON BEHALF OF SILVER RANGE RESOURCES LTD.

“Ian J. Talbot”
Chief Operating Officer



For further information concerning Silver Range or its exploration projects please contact:

Investor Inquiries
Richard Drechsler, Vice-President, Communications
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
rdrechsler@silverrangeresources.com
http://www.silverrangeresources.com



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.

This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.