VANCOUVER, May 4, 2021 - Silver Range Resources Ltd. (TSXV:SNG) ("Silver Range" or the "Company") announces that it has acquired an additional 2,212,389 common shares (the "Acquired Shares") of Trifecta Gold Ltd. ("Trifecta") pursuant to a debt settlement agreement announced by Trifecta on April 22, 2021, under which the Acquired Shares were issued at a deemed price of $0.113 per share to satisfy the $250,000 payment to Silver Range provided for in Trifecta's July 7, 2020 Property Purchase Agreement with Silver Range, pursuant to which Trifecta agreed to purchase a 100% interest in the Yuge property located in northern Nevada.
Immediately prior to its acquisition of the Acquired Shares, Silver Range held 4,997,611 common shares of Trifecta. Following its acquisition of the Acquired Shares, Silver Range currently has ownership of and control over 7,210,000 common shares of Trifecta, representing approximately 12.0% of Trifecta's currently issued and outstanding common shares.
Silver Range has acquired the Acquired Shares for investment purposes. Depending on market conditions and other factors, Silver Range may from time to time acquire and/or dispose of securities of Trifecta or continue to hold its current position. A copy of the Early Warning Report to be filed by Silver Range in connection with its acquisition of the Acquired Shares will be available on SEDAR at www.sedar.com and may be obtained from Silver Range at the address set forth below:
Silver Range Resources Ltd.
Suite 1016 - 510 West Hastings Street
Vancouver, B.C. V6B 21L8
This news release is being issued pursuant to National Instrument 62-103, which also requires that Silver Range file the Early Warning Report with each of the British Columbia and Alberta Securities Commissions containing information with respect to its securityholdings in Trifecta.
Silver Range and Trifecta recently met with Proactive Investors to discuss work completed to date and future plans for the Yuge gold project. The video is available here and on the Company's website.
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 9 are currently under option to others and 2 have converted to royalty interests. Silver Range is actively seeking other joint venture partners to explore the high-grade precious metal targets in its portfolio.
ON BEHALF OF Silver Range Resources Ltd.
"Michael A. Power"
President, Chief Executive Officer and Director
For further information concerning Silver Range or its exploration projects please contact:
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
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 news 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.
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