Definitive Agreement On Cold Springs Gold And Silver Project

VANCOUVER - Silver Range Resources Ltd. reported that it has signed a final definitive option agreement with Supernova Metals Corp., granting Supernova the right to acquire a 75% interest in the Cold Springs gold/silver project in which it will also perform a minimum of 2,000 meters of drilling on the property over a three year period.

Cold Springs is a high-grade low-sulphidation epithermal gold-silver prospect. It lies approximately 80 km east of Fallon and is accessible by road from Highway 50. The Property consists of 22 Federal Lode Claims, centered on a small hill bounded by a range front fault. The claims cover an 800 m by 350 m hill-top exposure of altered and silicified rhyodacite breccia hosting a series of northwest-striking, sub-parallel gold and silver-bearing quartz veins. Previous sampling of these veins by Silver Range and others has yielded values of up to 64.9 g/t gold and 1,770 g/t silver. Limited drilling on the Property has been confined to exposed mineralization in the eastern portion of the claims. Geophysical surveys conducted by Silver Range defined a compelling drill target with geological support in an overburden covered area west of the known mineralization.