Mr. Michael Power reports

SILVER RANGE RESOURCES LTD. ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Silver Range Resources Ltd. has closed its previously announced non-brokered private placement for total proceeds of $239,280 (see Silver Range's news release dated April 30, 2024). The private placement consisted of the sale of 2,991,005 units at a price of eight cents per unit. Each unit consisted of one common share and one share purchase warrant. Each warrant entitles the holder to purchase one additional common share at a price of 16 cents until July 12, 2026. If the closing market price of Silver Range shares is equal to or greater than 20 cents for a period of 10 consecutive trading days following the expiry of the hold period, Silver Range will have the right to provide all warrantholders with notice that the expiry date for the warrants has been shortened to 30 calendar days from the giving of such notice.

All securities issued as part of the closing of this 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 Nov. 13, 2024.

An insider of Silver Range purchased a total of 1,227,219 units in the private placement. The participation of this insider constituted a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. Silver Range has relied on exemptions from the formal valuation and minority shareholder approval requirements provided for under sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that the fair market value (as determined under MI 61-101) of insider participation in the private placement did not exceed 25 per cent of Silver Range's market capitalization.

About Silver Range Resources Ltd.

Silver Range is a precious metals prospect generator with projects in the southwestern United States and Northern Canada. Silver Range is focusing current and future work in the southwestern United States. It has assembled a portfolio of 38 properties, 10 of which are currently optioned to other parties. Five other projects have been converted to royalty interests. Silver Range is actively seeking other joint venture partners to explore the high-grade precious metals opportunities in its portfolio.

We seek Safe Harbor.