Silver Range Completes Work at Tonto Del Pueblo and Provides Property Option Update

VANCOUVER, May 31, 2023 - Silver Range Resources Ltd. (TSX-V:SNG) ("Silver Range" or the "Company") is pleased to provide an update on exploration work in Nevada and property option activity.

In April, Silver Range completed an exploration program at the Tonto del Pueblo Property ("TDP") in northern Nye County. TDP hosts gold mineralization in several settings with initial samples returning up to 35.4 g/t Au and 4 out of 10 samples collected during staking returning analyses greater than 5 g/t Au (Silver Range news release dated January 14, 2022). Silver Range expanded the claim block to 15 claims; sampled numerous workings on the property; and conducted geological mapping, prospecting, alteration mapping and packsack diamond drilling. Analytical results are pending. In late May, Precision Geosurveys Inc. of Langley B.C. completed airborne total magnetic field and radiometric surveys covering the expanded claim block and surrounding areas.

On May 17, Silver Range signed an amendment with Excalibur Metals Corp. ("Excalibur") granting Excalibur until December 31, 2023 to fulfill the terms in the Definitive Agreement covering the Bellehelen Property (Silver Range news release dated December 22, 2022). Consideration in the amount of U$16,200 was paid to Silver Range.

Technical information in this news release has been approved by Mike Power, M.Sc., CPG, President and CEO of Silver Range Resources Ltd. and a Qualified Person for the purposes of National Instrument 43-101.

Silver Range is a precious metals prospect generator working in the Southwest United States and Northern Canada. It has assembled a portfolio of 45 properties, of which 15 are currently under option to others. Four other properties 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.

"Mike Power"

President, C.E.O. & Director

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

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.