VANCOUVER, BC / ACCESS Newswire / June 3, 2026 / Silver Range Resources Ltd. [TSXV:SNG] ("Silver Range") is pleased to share results from a spring drill program conducted by partner Excalibur Metals Corp. ("Excalibur" or the "Company") at the Bellehelen Property in Nye County, NV.
Excalibur holds an option to acquire a 100% interest in the Bellehelen property under an agreement with Silver Range dated December 16, 2022, and most recently amended July 17, 2025. Excalibur can exercise the option by: (i) making US$300,000 in cash payments to Silver Range on or before September 18, 2029; (ii) issuing Excalibur common shares with a value equivalent to $225,000 to Silver Range on or before September 18, 2029; (iii) granting Silver Range a 2% net smelter return royalty interest in future production from the property, with a buy-back option on 1% for US$1,000,000; and (iv) paying Silver Range US$2 per ounce (or the gold-equivalent) on any defined resource identified in the property following the exercise of the option. Silver Range will receive advance royalty payments of US$10,000 if Excalibur has not identified a defined resources on the property by September 18, 2030. The advance royalty payments will continue indefinitely and will be applied against future royalty payments to Silver Range related to future commercial production from the property.
