Mr. Michael Power reports

SILVER RANGE DEFINES TARGETS AT THE DRUM PROPERTY IN UTAH

Silver Range Resources Ltd. has provided an update on the Drum project in central Utah.

Silver Range has completed compilation and analysis of historic data collected on the Drum property and has defined targets for follow-up. The historic data collected by Goldfields Ltd., Newmont Mining and Troymet Minerals includes 41 drill holes, 476 surface rock samples, 1121 soil samples, and gravity, magnetic field and VLF-EM (very-low-frequency/electromagnetic) geophysical data. Mineralization at Drum is Eocene in age and bears many geochemical and geological similarities to gold mineralization found along the Carlin trend in Nevada. Exploration by past operators largely focused on identifying stratigraphically controlled gold mineralization.

The best gold mineralization intersected in historic holes, however, is structurally controlled and Silver Range intends to focus further exploration on defining structurally controlled Carlin-style mineralization on the property. Significant structurally controlled Carlin-style deposits in Nevada include Goldstrike and the Fourmile deposit.

Eocene gold mineralization on the Drum property is related to the eruption of the Thomas caldera northeast of the property. The regional-scale Joy fault circumscribes the caldera and transects the Drum property. This ring fault appears to control the location of some high-grade gold mineralization on the property. Historic surface samples along the Joy fault returned assays up to 3.94 grams per tonne gold and 47.1 g/t silver. The Joy fault was drill tested in three of the 41 drill holes and these returned the best drill results to date from the property, including 30.48 metres at 0.967 g/t Au, including 1.52 m at 6.57 g/t Au. In addition to the Joy fault, there are apparent radial faults associated with the emplacement of the Thomas caldera extending into the carbonate succession west of the Joy fault. A notable occurrence possibly related to this fault set is at High Grade Hill, where historic surface samples returned assays up to 310 g/t Au, 130 g/t Ag and 0.38 per cent tellurium.

Silver Range intends to conduct geologic mapping focused on structure and alteration, prospecting, soil sampling, and geophysical surveys on the property to define new drill targets for future investigation. A short video describing results to date from the Drum property may be found on the company's website.

Grant of royalty

Altius Minerals Corp. has been granted a 1-per-cent net smelter return on the Drum property pursuant to a March, 2023, agreement.

The Drum property

The Drum property is located in Juab county, Utah. Gold mineralization on the property is hosted in widespread jasperoid replacements and breccias developed in Cambrian Orr formation limestone. The setting and style of mineralization and the geochemical signature of mineralization are similar to those found in Carlin deposits to the west in Nevada. The property was staked by Silver Range in September, 2025.

Historic data cited in this news release were collected by past operators and cannot be independently verified by Silver Range. All technical information in this news release has been approved by Mike Power, MSc, CPG, president and chief executive officer of Silver Range 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 southwestern United States. It has assembled a portfolio of 34 properties, 12 of which are currently optioned to others, and also retains eight royalty interests on previously vended projects. Silver Range is actively seeking other joint venture partners to explore the precious metal targets in its portfolio.

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