Silver Range Expands High Grade Zinc System at Michelle

VANCOUVER, Nov. 16, 2017 /CNW/ - Silver Range Resources Ltd. (TSX-V: SNG) ("Silver Range") is pleased to provide recent results of a geologic mapping, hand trenching and sampling program conducted at the Michelle Property, located in west-central Yukon, Canada.

Property highlights to date include:

• Twenty-three known non-sulphide and sulphide zinc±lead±silver occurrences over a 14 km by 9 km area;
• High grade zinc mineralization at all occurrences, with peak values of 48.57% zinc, 82.78% lead, 4180 g/t silver and 1120 ppm gallium; and,
• Best drill intercept of 16.75% zinc, 8.86% lead and 310 g/t silver over 18.29 m.

The property lies within a belt of carbonate rocks that host significant zinc±lead±silver deposits, including Pine Point, Gayna River, Prairie Creek, Goz and Blende.  The Michelle Project is exceptional amongst similar zinc-lead projects in this belt due to the high levels of silver, gallium and indium.

During the summer 2017 field program, hand trenching in the southwest part of the property was directed toward exposing in-situ zinc mineralization at the Scorpion Showing, where gossanous float had previously been identified.  Chip sampling across the floor of a hand trench returned weighted average grades of 3.51% zinc, 8.79% lead and 34.53 g/t silver over its entire 11 m length.  Concurrent geological mapping and sampling within a 4 km by 1.2 km area, covering the Scorpion and Prairie Dog showings, demonstrated that both occurrences are located within a much larger belt of widespread, high grade zinc mineralization in float and talus.  Grab samples from this belt yielded a peak value of 46.43% zinc, and 18 out of 31 grab samples returned greater than 1% zinc.

In the northwest part of the property, mineralized float from the Cirque Showing returned up to 30.50% zinc and 172 g/t silver.  Hand trenching, which was frustrated by a deep talus cover, failed to reach bedrock, and the full extent of the zinc mineralization remains unknown.

The Michelle property covers 23 high-grade zinc occurrences that collectively point to the presence of a zinc-rich mineralizing system with district-scale potential.  Historical diamond drilling, which concentrated on two occurrences, returned highlights of 16.75% zinc, 8.86% lead and 310 g/t silver over 18.29 m at the Gully Zone, and 0.55% zinc, 15.18% lead and 2134 g/t silver over 2.96 m at the Peak Zone (Zinccorp Press Release May 8, 2009).  Work programs on the property continue to increase the size and grade of the zinc footprint.  Silver Range believes that the numerous high-grade zinc occurrences provide a vector to a much larger target.  Results from the 2017 program are available at www.silverrangeresources.com.

The 2017 work program described in this press release was conducted by Archer, Cathro & Associates (1981) Limited under the supervision of Jack Morton, P.Geo.  A total of 64 grab samples were collected, 32 of which returned analyses greater than 1% zinc.  In addition, thirteen hand trenches were completed and continually chip sampled, resulting in a total of 98 chip samples.  Samples were secured and shipped in custody to ALS Minerals facilities in Whitehorse, Yukon for sample preparation, and pulps were shipped to North Vancouver for assay.  Rock samples were analyzed by aqua regia digestion and inductively coupled plasma-atomic emission spectroscopy (ME-MS41).  Overlimit values were determined for zinc, silver and lead by aqua regia digestion followed by inductively coupled plasma-atomic emission spectroscopy or atomic adsorption spectroscopy (Zn-, Ag- and Pb-OG46).

Technical information in this news release has been approved by Mike Power, M.Sc., P.Geo., President and CEO of Silver Range Resources Ltd. and a Qualified Person for the purposes of National Instrument 43-101.

ON BEHALF OF SILVER RANGE RESOURCES LTD.

"Mike Power"

President, C.E.O. & Director

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.

SOURCE Silver Range Resources Ltd.