Silver Range Resources Ltd. announced favourable results from confirmatory sampling conducted pursuant to the preparation of a National Instrument 43-101 (NI 43-101) report on the Project. Bellehelen Project: The Bellehelen Project is a low sulphidation epithermal silver-gold prospect consisting of 90 Federal Lode Claims, approximately 70 km east of Tonopah. The claims cover most of the historic Bellehelen Mining District.

Silver and gold were discovered in the Bellehelen Mining District around 1904. The area saw limited production from 1909 to 1927 and sporadic production during the 1930s. Total district production is estimated at 311,000 ounces silver-equivalent.

Silver Range acquired the project in 2016 and since then has conducted prospecting, sampling, soil geochemical surveys, an airborne geophysical survey, and limited hand trenching. Mineralization in the Bellehelen district is centred on the regional-scale northwest-striking Bellehelen Fault Zone, a segment of the larger Kawich-Toiyabe Lineament. The latter is a significant focus for precious metal mineralization in Central Nevada.

The Project area is underlain by early Miocene rhyolitic ash flow tuff and megabreccia deposited in the Bellehelen Caldera centred on the Bellehelen Fault Zone. Mineralization likely occurred following crater-collapse driven by hydrothermal circulation along master faults beneath the caldera. At the Ajax and Ben Hur Mines and at numerous other showings on the Project, gold and silver occurs in fracture zones and sheeted quartz veinlets.

This material has returned grab sample assays up to 11.25 g/t Au and 3,490 g/t Ag. Extensive gold-in-soil anomalies up to 1,300 m long are associated with this structurally-controlled style of mineralization. In addition, stratabound disseminated quartz-adularia gold mineralization has been found in sparsely exposed lithic ash tuff on the margins of the Bellehelen Caldera.

Rock samples of this material have returned up to 0.744 g/t Au. Disclosures related to confirmatory sampling conducted in September 2022 at the Project have been approved by Heather Burrell, P.Geo. Eight samples were collected during the visit of which 1 returned an analysis greater than 5 g/t Au and 3 returned analyses greater than 100 g/t Ag.

The samples were shipped under chain of custody to ALS Minerals in Reno, Nevada for analysis. The samples were dried, fine crushed to better than 70% passing 2 mm and then a 250 g split was pulverized to better than 85% passing 75 microns. The fine fractions were analyzed for 35 elements using aqua regia digestion followed by inductively coupled plasma (ME-ICP41).

The fine fractions were analyzed for gold by fire assay followed by atomic absorption (Au-AA25). Overlimit silver was determined by aqua regia digestion followed by inductively coupled plasma-atomic emission spectroscopy (Ag-OG46). Other technical information in this news release has been approved by Mike Power, M.Sc., CPG, President and CEO of Silver Range Resources Ltd. Both are Qualified Persons for the purposes of National Instrument 43-101.

Historical information on the Bellehelen Mining District was summarized from documents in the Nevada Bureau of Mines and Geology District Files, published reports and documents in the public record. These cannot be independently verified by Silver Range.