Silver Range Resources Ltd. Closes Private Placement and Provides Exploration Update
VANCOUVER, April 11, 2022 - Silver Range Resources Ltd. [TSXV:SNG] ("Silver Range") announces the closing of the private placement announced on March 30, 2022, consisting of the sale of 4,000,000 units at a price of $0.15 each for total proceeds of $600,000. Each unit consisted of one common share and one non-transferable share purchase warrant, with each warrant entitling the holder to purchase one additional common share at a price of $0.20 until April 11, 2024. All shares issued pursuant to the private placement, including any shares that may be issued pursuant to the exercise of the warrants, are subject to a hold period in Canada until August 12, 2022. Silver Range paid cash finders' fees totalling $4,875 to GloRes Securities Inc. and Canaccord Genuity Corp. in connection with this private placement.
Nevada operations update
In March and early April, Silver Range completed a first pass (10 trench) program at the Cambridge Property near Yerington, investigating highly anomalous gold-in-soil anomalies. At the Bellehelen Property east of Tonopah, gold-in-soil anomalies were trenched on the BH Grid east of the former Ben Hur Mine. Results are pending. Reconnaissance work followed by staking were completed on a target in southern Nevada. Silver Range is sponsoring and will be attending the 2022 Geological Society of Nevada at the end of April. Field operations should resume shortly thereafter.
About Silver Range Resources Ltd.
Silver Range is a precious metals prospect generator working in Nevada and Northern Canada. It has assembled a portfolio of 45 properties, 13 of which are currently optioned to others. Four projects have been converted to royalty interests. Silver Range is actively seeking other joint venture partners to explore the high-grade precious metals targets in its portfolio.
The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.
ON BEHALF OF Silver Range Resources Ltd.
"Michael A. Power"
President and Chief Executive 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.
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SOURCE: Silver Range Resources Ltd.