Drilling Commences at the up Town GOLD Project
Suite 1016 – 510 West Hastings Street
Vancouver, B.C. V6B 1L8
Tel: 604-687-2522
www.silverrangeresources.com
TSX-V: SNG
DRILLING COMMENCES AT THE UP TOWN GOLD PROJECT
August 4, 2017 – Silver Range Resources Ltd. (TSX-V:SNG) (“S ilver Range ”) has been
notified by partner Rover Metals Corp. (“Rover”) that Rover has commenced an exploration
program at the Up Town Gold Project near Yellowknife. This program, budgeted at a minimum
of $350,000, will include NQ diamond drilling to test three zones on the property. The program
is expected to be completed by the end of August.
The Up Town Gold Project (“Property”) is a hi gh grade Archean lode gold prospect adjoining
the Giant Mine in Yellowknife, Northwest Territories. It consists of 6 claims covering 3,227
hectares and borders the west side of the Giant Mine Property. The Property centre is
approximately 6 km north from downtown Yellowknife, and adjoins TerraX Minerals’
Yellowknife City Gold Property on its northern border . The Up Town Gold Project covers ten
gold showings, collectively defining two corridors of structurally hosted high -grade gold
mineralization sub-parallel to the shear zone hosting the Giant Mine Deposit (8.1 M oz Au). The
eastern Fox South Shear is 1,100 m west of the Brock Shaft at Giant Mine and consists of a
reverse shear zone 10 to 70 m wide mapped over a strike length of 400 m. Grab samples from
this zone have assayed up to 30.3 g/t Au and sawn channel sample results have returned up to
1.1 m @ 2.20 g/t Au. Two holes have been drilled into this zone, returning 4.14 m @ 2.62 g/t
Au and 2.13 m @ 4.67 g/t Au. Further west, eight showings define a 4.5 km long, 500 m wide
corridor of structurally hosted gold occurrences. Most work in this corridor has focused on the
Rod Vein, a laminated quartz vein carrying disseminated pyrite, galena, chalcopyrite and free
gold hosted in a NNE striking, moderately SSE dipping reverse shear. The vein is 100 m long at
surface, up to 3.0 m wide and rakes moderately NNE in the plane of the shear. It has been drill
tested to approximately 20 m. In 1979, 11.02 t of hand -sorted ore grading 56.2 g/t Au was
mined from the top of the vein. Recent surface sampling along the vein has yielded grab samples
assaying to 318 g/t Au and best channel sample results of 1.20 m @ 17.27 g/t Au. Five shallow
drill holes were drilled into the Rod Vein in 2013 and 2015 which returned best results of 2.22 m
@ 27.47 g/t Au . The other showings along the western zone are similar in structural style and
type of mineralization.
Silver Range is a precious metals prospect generator working in the Northwest Territories,
Nunavut and Nevada. The company is actively seeking joint venture partners to explore the
assets in its portfolio.
As announced August 30, 2016, Rover was granted an option to purchase a 75% interest in the
Property by September 9, 2019 in return for cash payments totaling CAD$300,000; 7.5% of
Rover’s outstanding shares upon signing; and a work commitment of CAD$1,600,000. Once
vested, Rover has the additional option to purchase the remaining 25% of the Property by
making a share payment of 4.5% of Rover’s shares outstanding at the time thereof. If Rover
acquires a 100% interest in the Property, Silver Range will retain a 2% net smelter return, one
half of which may be purchased for CAD$1,000,000 prior to commencing production. Advance
2
royalty payments of CAD$50,000 per annum would be due to Silver Range, commencing
September 9, 2021.
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.
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:
Investor Inquiries
Richard Drechsler
Vice-President, Communications
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
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.