Silver Range Partner Excalibur Metals Intersects a Broad Precious Metals Zone, Open at Depth at the Bellehelen Property

Executive Summary

• Silver Range Resources' partner, Excalibur Metals Corp., released partial results from a maiden 3,122m reverse circulation drill program at the Bellehelen Silver-Gold Project in Nevada, highlighting significant high-grade silver and gold intercepts at the Spyglass Ridge Target.
• Drill hole BH26001 returned a 1.52m intercept grading 360.0 g/t Ag and 2.03 g/t Au within a broader 100.58m zone averaging 16.7 g/t Ag and 0.10 g/t Au, with mineralization confirmed open at depth and along strike.
• Additional anomalous precious metal intervals were identified in BH26001 and BH26004, demonstrating a vertically extensive mineralized system extending to at least 300m depth, with follow-up drilling scheduled for late 2026/early 2027.

Key Details

• Drill Program Scope: 3,122m of RC drilling across 10 holes at the Spyglass Ridge Target; assay results received for the first 6 holes (BH26001-BH26006), with 4 holes pending.
• BH26001 Primary Intercept: 1.52m @ 360.0 g/t Ag, 2.03 g/t Au within a wider 100.58m interval @ 16.7 g/t Ag, 0.10 g/t Au (248.41m-348.00m).
• BH26001 Shallower Intercepts: 3.05m @ 8.0 g/t Ag, 0.14 g/t Au (205.74m-208.79m) and 1.52m @ 12.2 g/t Ag, 0.26 g/t Au (230.12m-231.65m).
• BH26004 Intercepts: 3.05m @ BDL Ag, 0.21 g/t Au (57.91m-60.96m); 1.52m @ BDL Ag, 0.73 g/t Au (105.16m-106.68m); 1.52m @ 4.6 g/t Ag, 0.22 g/t Au (106.68m-108.20m). Hole bottomed at 116m.
• Other Holes: BH26002, BH26003, BH26005, and BH26006 returned gold and silver results below detection limit.
• Option Agreement Terms: Excalibur holds an option for 100% interest in Bellehelen. Exercise requires: (i) $300,000 cash, (ii) $225,000 in common shares, (iii) 2% NSR royalty (buy-back 1% for $1,000,000), and (iv) $2/oz royalty on defined resources. Advance royalty of $10,000 applies if no defined resource is identified by Sept 18, 2030.
• Future Drilling Plans: Follow-up drilling planned for late 2026 or early 2027 to evaluate continuity, geometry, grade distribution, and test extensions at Spyglass. First-pass drilling also planned for the Rangefront Target.
• Project Background: Bellehelen features a 10km mineralized trend that historically produced ~311,000 silver-equivalent ounces in the early 1900s, with historical surface sampling up to 11.25 g/t Au and 3,490 g/t Ag.
• QA/QC & QP: Samples analyzed at MSA Labs (Elko, NV) via PhotonAssay™ for Au & Ag. Qualified Person: Matthew Dumala, P.Eng. True-widths assumed at 80-90% of reported width.

Notable Quotes

• John Gilbert, CEO of Excalibur: "For a first-pass with the drill rig at Spyglass, hitting high-grade silver and gold mineralization is very promising... We've known the plumbing at Bellehelen is extensive laterally and now we've shown it has deep roots with this drilling success."
• Eli Turner, VP of Exploration, Excalibur: "We're encouraged to see strongly anomalous gold and silver values at a significant depth below surface. This reinforces our conviction in the scale and strength of the mineralizing system at Bellehelen."