Silver Range Resources Ltd. Samples up to 80 g/t Gold at the Cambridge Project

VANCOUVER, May 10, 2021 - Silver Range Resources Ltd. (TSXV:SNG) ("Silver Range" or the "Company") is pleased to provide an update on recent work at the Cambridge Project in the Walker Lane, western Nevada.

In March, Silver Range conducted a rock sampling program in the area of the Cambridge Mine in the eastern portion of the Cambridge Property. Work focused along the 950 metre-long Cambridge Mine trend and along a separate trend to the north ("North Trend"). Grab and chip samples were collected from waste dumps and vein exposures in old workings. Grab samples returned assays from trace to 80 g/t Au with the best assay result returned from the North Trend, approximately one kilometre north of the Cambridge Mine. Chip samples were collected across trenched vein exposures near the Cambridge Mine, with the best samples returning 0.75 m @ 12.75 g/t Au and 0.5 m @ 9.72 g/t Au.

The Cambridge Project is located 33 km south of Yerington in Lyon County, NV. Gold was first discovered in the area in the 1860's and intermittent mining at the Cambridge Mine is reported between 1878 and 1942. The property is underlain by Cretaceous quartz monzonite with local thin Tertiary volcanic cover rocks. The quartz monzonite is cut by north trending, steeply-dipping faults or shears hosting mesothermal gold mineralization in quartz veins. The veins contain coarse grained, ribbon banded white quartz together with pyrite, galena, pyrrhotite, chalcopyrite, lesser tetrahedrite and amorphous black sulphides in disseminations and clots. Quartz vein material in dumps at the Cambridge Mine locally contains visible gold. Silver from trace to 274 g/t Ag is associated with the gold mineralization. There are three known gold zones on the property - the Cambridge Mine, Price Lode and North Trends - which have an aggregate strike length of approximately 2,700 metres. Mineralization has been traced to a depth 137 metres (450 feet) in workings at the Cambridge Mine.

A total of 32 rock samples were collected during the program, 15 of which returned assays greater than 5 g/t Au. Samples were secured and transported under chain of custody to ALS Minerals facilities in Reno, Nevada for sample preparation and analysis. Sample preparation included crushing a 1 kg subsample to 85% passing -75 mm (Code Prep 31D). Aliquots extracted from the subsample were analyzed by Ultra-Trace Aqua Regia ICP-MS (Code ME-MS41) and fire assayed for gold (50 g sample) (Code Au-AA26). Samples returning overlimit copper, lead and silver analyses were reanalyzed with techniques appropriate to ore grade concentrations (Codes Cu-OG46, Pb-OG46, Ag-OG46).

Silver Range and partner Auburn Gold Mining LLC intend to conduct soil sampling, geological mapping, geophysical surveys and trenching later this year to identify drill targets. Further information on the Cambridge Property including a short, updated video presentation may be found on Silver Range's website at https://silverrangeresources.com/projects/nevada/cambridge/.

Technical information in this news release has been approved by Mike Power, M.Sc., P.Geo., President and CEO of Silver Range Resources Ltd. and a Qualified Person for the purposes of National Instrument 43-101. Historical information cited in this news release was obtained from Nevada Bureau of Mines and Geology district files and from historical publications. This information cannot be independently verified by Silver Range.

About Silver Range Resources Ltd.

Silver Range is a precious metals prospect generator working in Nevada and Northern Canada. It has assembled a portfolio of 45 properties, of which nine are currently under option to others and two 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.

ON BEHALF OF Silver Range Resources Ltd.

"Michael A. Power"
President and Chief Executive Officer

For further information concerning Silver Range or its exploration projects please contact:

Investor Inquiries

Richard Drechsler
Vice-President, Communications
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
rdrechsler@silverrangeresources.com
http://www.silverrangeresources.com

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.

This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.

SOURCE: Silver Range Resources Ltd.