Where Exploration Intersects Discovery TSXV: NRG OTCQB: NRGOF Newrange and Great Panther Terminate Agreement to Acquire Coricancha Mine in Peru

250 - 750 West Pender Street, Vancouver, BC V6C 2T7 - Tel. (604) 669 - 0868

Where Exploration Intersects Discovery TSXV: NRG OTCQB: NRGOF

Newrange and Great Panther Terminate Agreement to Acquire

Coricancha Mine in Peru

VANCOUVER, BRITISH COLUMBIA, November 25, 2022 (TSXV: NRG, US: NRGOF, Frankfurt:

X6C) – Newrange Gold Corp. ("Newrange" or the “Company") announces that it has signed a Mutual

Termination Agreement with Great Panther Mining Limited (“Great Panther ”), terminat ing the Share

Purchase Agreement to acquire the Coricancha Gold-Silver-Copper-Lead-Zinc Mine in Central Peru.

“We are deeply disappointed to have arrived at this outcome,” stated Robert Archer, President and

CEO of Newrange. “We have been working on this acquisition since March and believe strongly in the

potential of the Coricancha Mine. However, the current market for mining stocks , one of the worst in

decades, h as created a serious impediment to financing, especially for new acquisitions . While we

attempted to gain an extension to the closing date, the intransigence of Great Panther’s creditors has,

regrettably, made that impossible.”

As a result of the termination of this acquisition, the Company will not be proceeding with the proposed

financing, share consolidation and name change at this time and it is anticipated that trading in the

Company’s shares will resume within days.

About Newrange Gold Corp.

Newrange is currently focused on district-scale exploration for precious metals in the prolific Red Lake

District of northwestern Ontario. The past-producing high-grade Argosy Gold Mine is open to depth,

while the adjacent North Birch Project offers additional blue-sky potential. Further information can be

found on our website at www.newrangegold.com.

Signed: “Robert Archer”

President & CEO

FOR FURTHER INFORMATION CONTACT:

Email: [email protected]

Website: www.newrangegold.com

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts

responsibility for the adequacy or accuracy of this release.