Silver Range Resources Ltd. Announces Proposed Issuance Of Shares For Services

VANCOUVER, October 12, 2022 - - Silver Range Resources Ltd. (TSX-V:SNG) ("Silver Range") announces it proposes to issue a total of 248,465 shares to Paladin Geoscience Corp. ("Paladin"), a private company controlled by Michael A. Power, Silver Range's President and Chief Executive Officer, pursuant to a "Shares for Services Agreement".

The proposed share issuance, which is subject to TSX Venture Exchange (the "Exchange") acceptance, is in partial consideration for geological consulting services provided to Silver Range by Paladin during the period April 1, 2022 through September 30, 2022. The shares are to be issued at deemed prices per share ranging from $0.070 to $0.109375, being the market prices of Silver Range's shares as traded on the Exchange as calculated at the end of each month in which such services were provided, minus 50% of the discount permitted under applicable Exchange policies. All consulting fees not paid for the issuance of Silver Range shares are paid in cash.

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, 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.

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:

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.

SOURCE: Silver Range Resources Ltd.