Silver Range Resources Ltd.
TSX VENTURE : SNG
TSX VENTURE : SNG.WT

Silver Range Resources Ltd.

May 31, 2013 18:09 ET

Silver Range Technical Disclosure

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 31, 2013) - Silver Range Resources Ltd. (TSX VENTURE:SNG) (TSX VENTURE:SNG.WT) (the "Company") reports that as a result of a review by the British Columbia Securities Commission, we are issuing the following news release to clarify our disclosure.

On May 31, 2013, the Company filed an amended technical report entitled "Geology, Mineralization, Geochemical Surveys, Diamond Drilling, Metallurgical Testing and Mineral Resources at the Keg Property" dated December 19, 2012 and amended May 27, 2013. The original report contained a number of items that were not in compliance with the requirements of National Instrument 43-101. Through the amended report, the Company has addressed the following: (i) S. Drechsler, P. Geo. and M.R. Dumala, P.Eng., who authored sections of the report other than the resource estimate and metallurgical results, have been removed as co-authors of the amended report as they are not "independent qualified persons" for the purposes of NI 43-101; (ii) the treatment of historical scientific and technical information now complies with NI 43-101 requirements; (iii) consents and certificates of qualifications for the authors of the amended report have been filed; and (iv) Table 15-5 of the amended report now includes a separate categorization of mineral resources and mineral reserves for all other deposits to which the Keg deposit is compared.

In addition to filing the amended report, the Company has made revisions to the disclosure on its website, fact sheet and slide 12 of the corporate presentation to provide all information required by NI 43-101. Changes include: (i) a reference to the title and date of the amended technical report as related to the Keg Deposit mineral resource estimate; (ii) metal content and average grades are now disclosed for lead, zinc and copper; and (iii) Matthew Dumala, P.Eng., a geological consultant to the Company, is now clearly identified as the qualified person for the technical disclosure. The updated materials can be viewed on the Company's website at www.silverrangeresources.com.

The Keg Deposit:

The Keg resource estimation was completed by Gary Giroux, P.Eng., MASc. (Giroux Consultants Ltd.) who is a qualified person and independent of the issuer, based on the criteria defined by National Instrument 43-101. For further details see the technical report entitled "Geology, Mineralization, Geochemical Surveys, Diamond Drilling, Metallurgical Testing and Mineral Resources at the Keg Property" dated December 19, 2012 and amended on May 27, 2013 as filed on SEDAR.

Inferred Resource Grades
Cut-off
(Silver g/t)
Tonnes Silver
(g/t)
Lead (%) Zinc (%) Copper (%) Tin
(ppm)
Indium (ppm) Silver Ounces
10 63,970,000 23.63 0.21 0.64 0.12 224.5 5.07 48,599,419
12 54,640,000 25.80 0.22 0.68 0.13 238.5 5.29 45,323,287
14 46,730,000 27.97 0.24 0.72 0.14 252.0 5.50 42,022,245
16 39,760,000 30.25 0.26 0.77 0.15 265.7 5.77 38,668,984
18 33,900,000 32.55 0.27 0.81 0.16 278.8 6.02 35,476,576
20 29,210,000 34.74 0.29 0.85 0.16 292.5 6.24 32,625,139
22 25,390,000 36.79 0.31 0.89 0.17 303.4 6.44 30,031,947
24 21,990,000 38.94 0.32 0.92 0.18 315.7 6.63 27,530,378
26 18,970,000 41.16 0.34 0.96 0.19 328.8 6.85 25,103,467
28 16,470,000 43.31 0.36 0.99 0.19 341.8 7.10 22,933,629
30 14,340,000 45.44 0.37 1.02 0.20 355.3 7.24 20,949,732
32 12,520,000 47.54 0.39 1.05 0.20 366.9 7.33 19,136,147
34 10,940,000 49.65 0.41 1.07 0.21 379.9 7.41 17,463,351
36 9,570,000 51.75 0.44 1.09 0.21 390.1 7.41 15,922,575
38 8,430,000 53.75 0.46 1.11 0.21 399.8 7.48 14,567,903
40 7,480,000 55.63 0.48 1.12 0.21 409.4 7.47 13,378,323

About Silver Range Resources Ltd.

Silver Range was created through a spin-out of assets from Strategic Metals Ltd. and is focused on its wholly-owned Silver Range project, where multiple bulk-tonnage and high-grade mineralized zones have been located in an area of exceptional infrastructure near the town of Faro, Yukon Territory.

ON BEHALF OF THE BOARD

W. Douglas Eaton, President and Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Silver Range Resources Ltd. - Corporate Information
    W. Douglas Eaton
    President and C.E.O.
    (604) 688-2568

    Silver Range Resources Ltd. - Corporate Information
    Bruce A. Youngman
    Chairman
    (604) 687-2522

    Silver Range Resources Ltd. - Investor Inquiries
    Richard Drechsler
    Corporate Communications
    (604) 687-2522 or NA Toll-Free: (888) 688-2522
    rdrechsler@silverrangeresources.com
    http://www.silverrangeresources.com