3D Induced Polarization Survey Identifies a Large Drill Target at East Goldfield

Silver Range Resources Ltd. (SNG) announced results from a 3D Induced Polarization (IP) and resistivity geophysical survey conducted on the western portion of its East Goldfield Property in Nye County, Nevada. The survey identified a large zone of elevated chargeability associated with surface lithocap and ledge-style epithermal high sulphidation mineralization.

A specific "core target" was defined with inverted chargeability exceeding 6.5 millivolts per volt, measuring 1,200 meters long and up to 700 meters wide at an average depth of 150 meters. The target is open at depth and contains steeply-dipping zones of coincident elevated chargeability and resistivity, which may pinpoint critical high-sulphidation feeder zones known to host higher grade gold mineralization. The company intends to design and permit a drill program to test this core target.

Silver Range Resources Ltd. (SNG) released results on November 10, serving as a follow-up to the July 21 announcement that a 60-kilometer 3D IP survey was underway and expected to complete by late August. The results confirm the successful completion of the geophysical program and mark the transition of the East Goldfield project from data acquisition to target definition.

The identification of a large, open-at-depth core target represents a standard intermediate step in the exploration lifecycle. It does not immediately define a mineral resource, confirm economic mineralization, or trigger near-term cash flows. Given the explicit prior announcement of the survey's completion timeline, the market likely anticipated these results. The news validates the exploration strategy but does not introduce fundamentally new, unexpected catalysts that would materially alter the company's valuation or operational trajectory in the short term.

Silver Range Resources Ltd. (SNG) operates as a prospect generator with a focus on the Southwest United States, including Nevada, Arizona, and Utah, as well as Canada. The company’s business model involves acquiring mineral properties and conducting early-stage exploration to define drill targets. These properties are then optioned to partner companies in exchange for upfront cash, equity, royalties, and defined resource payments.

The company’s flagship project is the East Goldfield property in Nevada, a high-sulphidation epithermal gold deposit located on trend with the historic Goldfield district. The project features a drill-defined 50-70 koz Au target and has advanced to the next exploration phase following a recent 3D IP survey.

Silver Range Resources holds interests in approximately 35 properties. The portfolio includes multiple active option agreements and retained royalty interests across Nevada, Utah, Arizona, Yukon, and Nunavut.