Silver Range Resources Ltd. announced that it has received the first independent resource estimate for its wholly owned Keg Deposit and results from an initial program of metallurgical test work for that mineralization. Highlights include: at a cut-off grade of 16 g/t silver, the Keg Deposit hosts an inferred resource of 39.8 million tonnes grading 30.3 g/t silver together with significant zinc-copper-lead-tin-indium values, with contained metal estimates of 38.7 million ounces silver, 675 million pounds zinc, 228 million pounds lead, and 131 million pounds copper. Metallurgical results from seven drill core composites show that the Keg Deposit mineralization responds very well to conventional copper/lead/zinc flotation processing with excellent recoveries of payable metals and acceptable concentrate grades in copper, lead and zinc concentrates. The Keg Deposit or the Keg Main Zone has been traced by drilling for a length of 1,100 m, across approximate true widths of 50 to 250 m through a vertical depth of 350 m starting from surface. The mineralization remains open along strike to the west and downdip. It is one of 24 mineralized zones that have been discovered to date at the Silver Range Project. The Keg Main Zone hosts a mixture of common sulphide minerals, which occur as fracture filling and in skarn replacement horizons within a broad structural corridor that cuts east-west across a section of clastic, cherty and carbonate-rich sedimentary rocks. It is located in an area with very few bedrock exposures, but is marked by strong soil geochemical and geophysical anomalies. Excellent silver recoveries averaging 80.0% were achieved, with an average of 57.2% recovery to lead concentrate assaying on average 5,816 g Ag/t, and 22.7% recovery to copper concentrate assaying on average 1,458 g Ag/t. An additional amount, an average of 8.2%, reported to the zinc concentrate which assayed an average of 136 g Ag/t. Silver head grade did not have much impact on overall silver recovery. Zinc recoveries to zinc concentrate averaged 88.6% and were generally over 90% for composites with zinc head grades greater than 1.0% Zn. Lead recoveries to lead concentrate averaged 82.4% and were all greater than 77.5%. Copper recoveries averaged 69.4% and generally followed copper head grade. Zinc concentrate grades of greater than 45% Zn were achieved on composites with head grades greater than 1.0 % Zn. The lead grade in the lead concentrate, which averaged 65% Pb, was independent of the head grade of the composites. Excellent lead concentrate grades were achieved even down to a head grade of 0.15% Pb. Excellent copper grades were obtained in the copper concentrate, averaging 27.2% Cu, even for the composites with relatively low copper head grade. The majority of the recoverable indium reported to the zinc concentrate, averaging 74.3% recovery and assaying an average of 320 g In/t. A lesser amount, 8.6%, was recovered to the copper concentrate assaying an average of 150 g In/t. No indium reported to the lead concentrate. Indium head grade did not seem to have an impact on overall indium recovery.

Silver Range Resources Ltd. announced remaining results from the 2012 exploration program at its wholly-owned Silver Range Project, located near the town of Faro in southern Yukon. The 2012 exploration program included delineation drilling of the Keg bulk-tonnage silver-lead-zinc-copper discovery and preliminary test drilling at 7 of the 23 additional silver-bearing mineral zones identified to date on the 1,100 sq km Silver Range Project. The Keg Zone is the only discovery that has been systematically drilled. Keg Main Zone drill results were previously released and a resource estimate and preliminary metallurgical results are pending, anticipated for release in the first quarter of 2013. Regional exploration drilling has successfully tested several new high-grade epithermal silver occurrences within the district and confirmed that the 8 sq km Snap Zone silver-lead-zinc-tin soil geochemical anomaly has the potential to host Keg style bulk-tonnage mineralization. Broadly-spaced drilling at the Hammer Zone continues to outline a large high-grade epithermal system, with three sub parallel, silver-rich veins traced for strike lengths of up to 600 m and through a vertical range of 280 m. All veins are open for extension along strike and to depth. Preliminary drilling at the Snap Zone identifies bulk tonnage potential similar in tenor to the Keg Zone discovery. High-grade silver mineralization was discovered at the Cody Zone, 500 m southeast of the Hammer Zone. Eleven rock samples collected over a large area returned between 1,000 and 16,069 g/t silver; a new high-grade drilling discovery was made at the Owl Southwest Zone, with bonanza-grades of 5,370 g/t silver (156.63 opt) over 0.34 m. The Hammer Zone is a bonanza-grade, silver-rich epithermal vein system that was discovered in late 2011. It is located 12 km from the historical Faro mine and mill site. Total of 19 holes (3,904 m) were completed at the Hammer Zone in 2012. Broadly-spaced drilling traced three sub parallel veins for strike lengths of up to 600 m and through a vertical range of 280 m. Four teen of the 19 drill holes intercepted one or more veins in a grade range between 237 and 4,620 g/t silver. The weighted average of 16 individual vein intercepts is 807 g/t silver over an average drill intersected width of 0.66 meters. All veins are open for extension along strike and to depth. The reported intersections are drilled thicknesses and are believed to represent approximately 60 to 80% true widths. Weighted averages are calculated using interval widths. Drill holes HAM-12-13 (targeted the West Vein) and HAM-12-20 (targeting the West and Central Veins) returned no significant intersections. Cody Zone: High-grade silver mineralization was discovered late in summer at the Cody Zone, 500 m southeast of the Hammer Zone. Eleven rock samples taken from an 800 by 500 m area of talus assayed greater than 1,000 g/t silver, with a peak value of 16,069 g/t silver. The Cody Zone has not yet been drilled and is a priority exploration target for 2013. The Cody Zone appears to be an epithermal vein system similar in tenor to the Hammer Zone. Owl Southwest Zone: the Owl Southwest Zone is a new high-grade discovery located 7.3 km northwest of the bulk-tonnage Keg Zone. Two scout drill holes totaling 500 m were completed in 2012. Both drill holes returned significant silver values, including 5,370 g/t silver over 0.34 m in hole OSW-12-1 and 432 g/t silver over 1.50 m in hole OSW-12-2. Drilling targeted vein mineralization exposed in a surface trench, a chip sample from which assayed 4,770 g/t silver. Eight surface rock samples from the Owl Southwest area assayed greater than 1,000 g/t silver, to a maximum of 6,920 g/t silver. The discovery occurs near the edge of an extensive upland marsh marked by strong open-ended 200 by 350 m silver in soil geochemical anomaly (10 to 208 g/t silver). Snap Zone: the Snap Zone lies 6 km southeast of the Hammer Zone within the 17 km long Mount Mye Trend. It is associated with an exceptional soil geochemical anomaly, where strongly to very strongly anomalous silver (2-75.8 g/t), lead (200-7,360 ppm) and tin (20-302 ppm) values occur over an area measuring 3,700 by 2,250 m. The first phase of reconnaissance drilling has tested approximately 3% of the geochemically anomalous area to relatively shallow depths. Seven drill holes (1,767 m) were completed in the Snap Zone in 2012. These holes were located north of drill hole SNP-11-02, which intercepted 480 g/t silver over 2.27 m within a 50.86 m interval that averaged 33.3 g/t silver. Drilling in 2012 intercepted broad intervals of silver-lead-zinc-tin-indium mineralization associated with a wide, northerly-trending structural zone. Mineralogical and texture features are consistent with the upper portions of an epithermal system. The structural zone has been traced for 400 m along strike and remains open in all directions. The Snap target area has significant exploration potential for both bonanza-grade silver and bulk-tonnage mineralization similar in tenor to the Keg Zone. Risby Zone: a single drill hole (206 m) was completed at the Risby Zone in 2012. The Risby Zone is located within the Mount Mye Trend, 700 m to the southeast of the Snap Zone. The best interval in this hole returned 58.38 g/t silver over 9.60 m. There is little bedrock exposure at the Risby Zone; therefore, its size and orientation are uncertain. This was the first hole ever drilled at the Risby Zone and the drill results are considered to be very encouraging. Rebel Zone: the Rebel Zone is situated in the northwestern part of the Mount Mye Trend, 6 km north of the Hammer Zone and 17 km south of the Keg Main Zone. It is associated with a broad (1,750 by 1,100 m) area of strongly anomalous silver, zinc, lead, copper and tin soil geochemistry. Limited 2011 drilling at the Rebel Zone returned 155.84 g/t silver, 12.43% lead and 3.07% zinc over a 6.16 m interval.

Silver Range Resources Ltd. announced results from the final 8 diamond drill holes completed in 2012 at the bulk-tonnage Keg Main Zone at its wholly-owned Silver Range Project. The Keg Main Zone is the most advanced of 24 silver-bearing mineral zones that have been identified to date at the 1,100 sq km Silver Range Project, located in an area of exceptional infrastructure near the town of Faro in southern Yukon. Drilling has extended a higher-grade corridor of near-surface mineralization within the northern part of the Keg Main Zone to a 900 m strike length; Drill hole Keg-12-66 returned 51.86 g/t silver together with significant lead-zinc-copper-tin-indium values over 30.0 m. This drill hole opens up further exploration potential for higher-grade mineralization to the west-northwest; and Based upon encouraging results, preparations are underway for an initial resource estimate on the Keg Main Zone. Results from this study and a program of metallurgical testwork are expected during first quarter of 2013. Assay results from drill holes Keg-12-66 and Keg-12-69 confirm continuity of a higher-grade, east-west trending corridor that has now been traced for a 900 m strike length. The corridor is typically from 30 to 100 m thick and extends from surface to depths of 110 to 230 m down-dip. Drill hole Keg-12-66 is the westernmost hole completed to date on this higher-grade trend. It intersected higher-grade mineralization further to the north than previously recognized and opens up significant exploration potential to the west-northwest of the current drilling. Within the higher-grade corridor, fracture-filling and skarn-type mineralization is concentrated within an antiformal fold hinge. Given the encouraging results, the company has commenced preparations for an initial resource estimate at the Keg Main Zone. All analyses for the 2012 program are being performed by ALS Minerals with sample preparation in Whitehorse and assays and geochemical analyses in North Vancouver. Core samples are routinely analyzed for gold by fire assay followed by atomic absorption (Au-AA24) and 48 other elements by inductively coupled plasma-mass spectrometry (ME-MS61). Samples in mineralized intervals that exceed the detection limits of the routine methods are assayed for silver, lead, zinc and copper by inductively coupled plasma-atomic emission spectroscopy (Ag/Pb/Zn/Cu - OG62). Tin was analyzed for by pressed pellet x-ray fluorescence spectroscopy (Sn-XRF05). Rigorous procedures are in place regarding sample collection, chain of custody and data entry. Certified assay standards, coarse reject duplicates, field duplicates and blanks are routinely inserted into the sample stream to ensure integrity of the assay process. All of the results reported have passed the QAQC screening.