Silver Range Provides an Update on Up Town Gold

10 February 2017

February 10, 2017 – Silver Range Resources Ltd. (TSX-V: SNG) (“Silver Range” or the “Company”) is pleased to provide an update on developments at its Up Town Gold Project.
Rover Metals Corp. (“Rover Metals”) has made a $30,000 payment in accordance with a September 9, 2016 property agreement and has informed Silver Range that it intends to commence drilling this spring. Silver Range is completing community consultations with affected First Nations and intends to submit an application for a Land Use Permit at the beginning of March, contingent upon completion of consultations.
The Up Town Gold Project is an Archean lode-gold prospect adjoining the 8.1 million ounce Giant Mine gold deposit in Yellowknife, Northwest Territories. The 3,227 hectare property hosts ten high-grade gold occurrences. Property-wide lithogeochemical surveys, prospecting, and geophysical surveys have defined two structural corridors containing vein-hosted mineralization and a third containing shear zone hosted gold mineralization (Fox South Shear Zone). The most advanced showing, the Rod Vein, was drilled to a shallow depth in the 1960’s and mined on a small scale in 1979 by previous owners. Sampling in the open pit at the Rod Vein in 2015 by Panarc Resources returned grab samples assaying up to 318 g/t Au and channel sampling results up to 1.20 m @ 17.27 g/t Au. Manson Creek Resources Ltd. (“Manson Creek”) drill tested the Rod Vein in 2013 north of the 1979 production pit with best results of 2.22 m @ 27.47 g/t Au.