Silver Range Acquires East Gold Point Property

VANCOUVER, BC - Silver Range Resources Ltd. has acquired the East Gold Point Property, covering the relatively unexplored extension of high grade gold and silver veins mined intermittently since 1905.

The East Gold Point Property is located east of the town of Gold Point in Esmeralda County, Nevada. The property was acquired by purchase and staking between June and September 2019. The property lies immediately east of historical Gold Point workings and covers the inferred strike extension of mined veins and structures. On the East Gold Point Property historical workings include two shafts with limited drifting (Lucky Boy and Hornsilver America shafts). Silver Range staff conducted confirmatory sampling at the Hornsilver America shaft, collecting a total of 8 grab and chip samples, 5 of which returned assays greater than 5 g/t Au. The best result was 13.7 g/t Au from a grab sample of vein mineralization in the shaft wall. A chip sample across the vein at a depth of approximately 20 m returned 1.2 m @ 2.65 g/t Au.

Precious metal mineralization in the Gold Point area is hosted in branching and anastomosing, east-southeast striking veins and breccias cutting Precambrian Wyman Formation fine-bedded siltstone and carbonates. The Jurassic Sylvania Pluton intrudes the stratigraphy and has tilted the host rocks to the northeast. Gold and silver bearing veins consist of crushed, coarse crystalline quartz with hematite and limonite. The principal vein systems at Gold Point extend over 1000 m along strike and are up to 9 m wide. Shallow silver mineralization is hosted in chlorargyrite and rare bromyrite. Gold persists to the full depth of current working (293 m) and is associated with pyrite, galena and cerussite. The mineralization in the Gold Point area is intrusive related, in a class which includes the high-grade Pogo Deposit in Alaska. It is similar in style, mineralogy and stratigraphic position to two nearby deposits. Scorpio Gold Corporation's Mineral Ridge Deposit is located 58 km NNW of East Gold Point and, to 2018, produced 697,715 oz Au. Valterra Resource Corporation's Weepah Deposit is 68 km N of East Gold Point and has documented historical production of 117,000 oz Au.

Silver Range intends to conduct mapping, sampling, geophysical and soil geochemical surveys on the East Gold Point Property to map structure and define drill targets.

The company’s contact information is: (604) 687-2522, www.silverrangeresources.com.