Mr. Mike Power reports

SILVER RANGE SAMPLES UP TO 93.8 G/T GOLD SOUTH OF CAMBRIDGE MINE

Silver Range Resources Ltd. has released results from a surface sampling program at the Cambridge project in Lyon county, Nevada.

During late November, 2022, a two-person crew sampled the prospective area south of the Cambridge mine. Grab samples were collected from float, outcrop and dump piles. Best results were 93.8 grams per tonne (g/t), 41.4 g/t and 16.4 g/t Au from small shaft dump samples. A total of 18 samples were collected of which eight returned analyses greater than five g/t Au. Silver (Ag) up to 265 g/t, copper (Cu) up to 1.64 per cent and lead (Pb) up to 9.24 per cent occurs with the higher-grade gold samples. The mineralization appears to be mesothermal in character, similar to that found at the Cambridge mine.

The Cambridge project covers numerous historical shafts and adits dating back to the 1860s, including the Cambridge mine that was once owned by Henry Blasdel, Nevada's first state governor. At that time, Mr. Blasdel shipped approximately 10,000 tons of ore grading about 0.3 ounces per ton to a nearby mill on the Walker River for processing. Despite its long history and the abundance of visible gold specimens, Silver Range has not found any evidence of modern exploration prior to the company's acquisition of the project. Silver Range and joint venture partner Auburn Gold Mining LLC have consolidated the heart of the historical Cambridge mine and surrounding mineral showings, and are actively seeking a partner to advance this project. An updated video presentation is available at the company's website.

Silver Range will showcase the Cambridge project, and other high-grade gold and silver opportunities, in the AME Roundup prospect generator hub on Jan. 23, and Jan. 24. Results from the sampling program summarized herein will be shown there.

Samples were secured and transported under chain of custody to ALS Minerals facilities in Reno, Nev., for sample preparation and analysis. At the laboratory, samples were crushed to progressively to less than two millimetres (ALS Code CR-32) and a one-kilogram aliquot was pulverized to 85 per cent passing a 75 mm mesh (Code PUL-32). A 50-gram subsample was then fire assayed with an atomic absorption finish (Code Au-AA26). A near-overlimit gold assay was check by gravimetric fire assay (Code Au-OG46). In addition, induced coupled plasma analysis for 35 elements was performed on the samples (Code ME-ICP41). Overlimit silver analyses were reanalyzed using a gravimetric method (Code Ag-OG46).

Technical information in this news release has been approved by Mike Power, MSc, CPG, president and chief executive officer of Silver Range Resources, and a qualified person for the purposes of National Instrument 43-101.

About Silver Range Resources Ltd.

Silver Range is a precious metals prospect generator working in the southwest United States and Northern Canada. It has assembled a portfolio of 45 properties, of which 13 are currently under option to others. Four other properties 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.

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