VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/04/12 -- Silver Range Resources Ltd. (TSX VENTURE: SNG)(TSX VENTURE: SNG.WT) ("Silver Range" or the "Company") announces that it has granted incentive stock options under its Incentive Stock Option Plan to its directors and officers and certain employees and consultants, entitling them to purchase up to a total of 1,755,000 shares at a price of $0.30 per share for period of five years. All of these options are subject to vesting provisions under which 25% of the options will vest at the conclusion of each three months during the first year of the exercise period.
Silver Range also announces that the exercise price of options previously granted to certain employees and consultants in respect of a total of 800,000 shares has been re-priced from $1.31 to $0.30 per share, subject to regulatory acceptance. No options currently held by Silver Range officers or directors will be re-priced.
Silver Range was created through a spin-out of assets from Strategic Metals Ltd and currently has more than $7 million in cash. The Company is focused on its wholly-owned Silver Range project, where multiple bulk-tonnage and high-grade mineralized zones have been located in an area of exceptional infrastructure near the town of Faro, Yukon Territory.
ON BEHALF OF THE BOARD
W. Douglas Eaton, President and Chief Executive Officer
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