Silver Range Resources Ltd. Announces Completion of Plan of Arrangement With Strategic Metals Ltd. and the Listing of Its Common Shares and Share Purchase Warrants on the TSX Venture Exchange

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BRITISH COLUMBIA -- (Marketwire - Aug. 10, 2011) - Silver Range Resources Ltd. (TSX VENTURE: SNG) (TSX VENTURE: SNG.WT) ("Silver Range") is pleased to announce that it has successfully completed its Plan of Arrangement (the "Arrangement") with Strategic Metals Ltd. ("Strategic"), pursuant to which Strategic has distributed a total of 30,003,950 common shares and 15,001,975 share purchase warrants of Silver Range to Strategic's shareholders pursuant to the Arrangement, in conjunction with the listing of Silver Range's common shares and share purchase warrants on the TSX Venture Exchange (the "Exchange"). In this regard, Silver Range's common shares and share purchase warrants commenced trading on the Exchange on August 10, 2011 under the trading symbols "SNG" and "SNG.WT", respectively. Strategic continues to hold 6,947,951 Silver Range common shares and 3,473,975 Silver Range share purchase warrants for investment purposes, representing 18.80% of each of the 36,951,901 Silver Range common shares and 18,475,950 Silver Range share purchase warrants currently outstanding. Each transferable Silver Range share purchase warrant entitles the holder to purchase one additional Silver Range common share at a price of $0.85 (Cdn.) until February 10, 2013.


ON BEHALF OF THE BOARD

W. Douglas Eaton
President and Chief Executive Officer



This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities of the Company in the United States. The Company's securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Investors are cautioned that, except as disclosed in Silver Range's Listing Application, any information released or received with respect to the Arrangement may not be accurate or complete and should not be relied upon.

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.

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.



Contact Information

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
www.silverrangeresources.com