11 May 2022
May 11, 2022 - Vancouver, B.C. – Silver Range Resources Ltd. (TSX-V:SNG) (“Silver Range”) announces it proposes to issue a total of 196,581 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 October 1, 2021 through March 31, 2022. The shares are to be issued at deemed prices per share ranging from $0.1181 to $0.1444, 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 by the issuance of Silver Range shares are paid in cash.
Silver Range is a precious metals prospect generator working in Nevada and Northern Canada. It has assembled a portfolio of 44 properties, 13 of which are currently optioned to others. Four projects 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.