Silver Range announces investment, exploration alliance with Altius Minerals

Silver Range Resources announced a $500,000 investment and an exploration alliance with Altius Minerals Corporation. Altius is subscribing for 3,333,333 shares of Silver Range at a price of $0.15 with no warrant for total consideration of $500,000. Silver Range has agreed to a generative alliance in the southwest US whereby Altius will acquire a 1% Net Smelter Return royalty interest on three Silver Range projects staked within a specified area of interest in the Southwest United States. With Altius now participating in a separate equity financing, Silver Range will be applying to the TSX Venture Exchange for an extension in respect of the closing of the private placement announced on January 17, 2023, whereby the Company is offering 6,000,000 units at a price of $0.15, for total proceeds of up to $900,000. Each unit will consist of one common share and one-half of one non-transferable share purchase warrant, with each warrant to entitle the holder to purchase one additional common share at a price of $0.30 for a period of two years from closing. The Altius Investment is subject to regulatory acceptance. Both the Altius Investment and the Placement are now anticipated to close by March 15, 2023. Proceeds from both financings will be used primarily for exploration work in the Southwest United States.