Drill Program is Underway at VR’s New Boston Moly-Tungsten-Copper-Silver Porphyry Project in Nevada
VANCOUVER, May 07, 2026 - VR Resources Ltd. ("VR" or the "Company", TSX.V: VRR, FSE: 5VR; OTCQB: VRRCF) is pleased to announce that the drill program is underway on its New Boston moly-tungsten-copper-silver porphyry project in Nevada.
Plans are for approximately 1,500 metres of drilling in 2 - 3 holes to test the new IP and conductivity geophysical anomalies at Jeep Mine. More specifically, and most importantly, the new drilling will test where IP and conductivity attributes coincide, representing the potential center for both vein intensity and sulfide density within the large-footprint skarn and porphyry system at New Boston.
Photo 1 below shows the drill rig on site at the first planned drill hole. It is collared in a high temperature alteration zone of quartz-garnet stockwork veining. The hole will be inclined steeply to the southeast, into and across the Jeep Mine hill in order to test the coincident geophysical anomalies which plunge steeply across a panel of north-dipping limestone and sheeted monzonite dykes with sheeted and stockwork veins with moly, tungsten, copper and silver mineralization which are exposed on surface at the drill collar.
The program is anticipated to take approximately two months to complete, with geochemical results to follow in the summer. The program will benefit from state-of-the-art analytical work at facilities located in nearby Reno, Nevada, because of the logistical efficiencies afforded by the location of New Boston on Highway 95: 1. whole-core hyperspectral scanning and high-resolution photography will be completed systematically on all drill core by TerraCore Geospectral Imaging in order to document alteration chemistry and mineralogy and characterize vein geometries, and; 2. there will also be continuous sampling of all drill holes in their entirety for multi-element ICP-MS geochemistry at Paragon Geochemical.
Dr. Michael Gunning, Chief Executive Officer of the Company, commented from on site at New Boston, "We are pleased to have the crew and rig on site at New Boston, and the drill program underway. Our mission is to execute immediately on the stated use of proceeds from our recent financings, in pursuit of near-term value creation potential at the drill bit for our shareholders.
New Boston has scale. Below in Photo 2 is a view east at Jeep Mine from the Blue Ribbon skarns located to the west, at the western end of the 3-4 km skarn and porphyry system at New Boston.
Our goal with this program is straight forward; to complete the first-pass drilling across the large-footprint, skarn and porphyry system that we started in 2024 at East Zone. We view the long intersections of continuous stockwork veining with copper and silver intersected at East Zone as only the starting point; we believe that the coincidence of IP and conductivity attributes at Jeep Mine to the west provide a vector to stronger vein intensity and sulfide concentration, and thus, the potential for a stronger polymetallic intersection including moly' and tungsten in addition to copper and silver.
We are ready: this drill program is based upon integrated vectors from three years of detailed surface exploration and airborne surveys by VR, built upon expert historical work in the 1960's and 70's.
The on-site CEO field video's available at www.vrr.ca illustrate the message here."
Photo 1. Drill rig set up, May 6, 2026, for the first planned drill hole at Jeep Mine, New Boston.
Photo 2. New Boston has scale. View east at Jeep Mine from the Blue Ribbon skarns located to the west, at the western end of the 3-4 km skarn and porphyry system at New Boston. The drill is visible in the left middle-ground, on the northern flank of the Jeep Mine hill; the drill hole will go across and down into the large, red-brown alteration zone of high temperature garnet stockwork that is clearly visible to the right.
Context
Prior to the submission of the NOI drill permit application for Jeep Mine, the inversion models for the state-of-the-art 3D array DCIP geophysical survey completed in 2023 were reviewed, for Best Practice, with the team at Dias Geophysical, a leading provider of geophysical services, during the recent AME Mineral Exploration Conference held in Vancouver. Co-spatial and steeply plunging conductivity and IP chargeability anomalies at Jeep Mine are now more precisely defined and better understood based on the review, and will be tested in the planned upcoming drilling as the potential vein and sulfide center of the overall skarn and porphyry system at New Boston.
Conductivity anomalies at East Zone identified in that same 2023 DCIP survey were drill tested in 2024 in the first leg of VR's first-pass drilling at New Boston. Copper and silver mineralization were intersected in continuous and intense stockwork veining in more than 1,500 ft of drill core in Hole 002. The planned drilling in the heart of the IP chargeability anomaly and coincident conductivity at Jeep Mine hopes to build upon those results in terms of the polymetallic grade potential of polyphase, stockwork veins with moly' and tungsten in addition to copper and silver.
Stock Option Allocation. The Company has approved an aggregate allocation of 200,000 incentive stock options at a price of $0.28 and exercisable for a period of five years to certain consultants to the Company, in accordance with the terms of the Company's Stock Option Plan.
TECHNICAL INFORMATION
Technical information disclosed by the Company has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101. Technical information contained in this document, and on the Company's website, has been reviewed and approved on behalf of the Company by the President & CEO, Dr. Michael Gunning, PhD, P.Geo., a non-independent Qualified Person.
ABOUT VR RESOURCES LTD.
VR is an established junior exploration company based in Vancouver. VR evaluates, explores and advances opportunities in copper, gold and critical metals in Nevada, USA, and Ontario, Canada. VR applies modern exploration technologies, in-house experience and expertise in greenfields exploration to large-footprint mineral systems in underexplored areas/districts. The foundation of VR is the proven track record of its Board in early-stage exploration, discovery and M&A. VR owns its projects outright and evaluates new opportunities on an ongoing basis, whether by staking or acquisition.
The reader is referred to the Company's website at www.vrr.ca for current corporate information and up-to-date summaries of exploration projects illustrated with maps, figures, photos and on-site field video's.
ON BEHALF OF THE BOARD OF DIRECTORS
Dr. Michael H. Gunning
President & CEO
For general information please use the following:
Website: www.vrr.ca
Email: info@vrr.ca
Phone: 778-731-9292
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains statements that constitute "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking statements in this document include statements concerning the plans for drilling on the Company's New Boston property in Nevada, and all other statements that are not statements of historical fact.
Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature, forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward- looking statements. Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with: general economic conditions; adverse industry events; future legislative and regulatory developments in the mining sector; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada; the ability of the Company to implement its business strategies; competition; and other assumptions, risks and uncertainties.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
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Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/0e647d23-5793-4761-ba24-9714c40a15f3
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