Goldrange Resources Shareholder Update December 2021

December 28, 2021

TORONTO, ONTARIO, December 28, 2021 – Goldrange Resources Corp. (“Goldrange” or the “Company”) would like to thank all shareholders who embarked on this early journey with us.  When the Company was first created, we asked that you believe in our vision that we would transform our early-stage exploration company with one property in hand to a resource company with a strategic portfolio of highly prospective gold projects.

Fast forward a few months after our initial seed round, we have done just that and are pleased to announce the following catalysts which now sets us on a new course within our company's evolution. Notwithstanding the barriers imposed by the Covid19 pandemic, the last 12 months have seen us undertake several initiatives towards increasing the value of the Company’s assets and planning the growth of the resource base.            

Summary and milestones of our properties include:

Rights to the Ghanaian project were relinquished as we identified and acquired two advanced projects in Côte d'Ivoire specifically: La Debo and Tienko and one highly prospective project in Tanzania. This allowed us to dedicate our efforts on more mature drill ready projects. The La Debo project has a NI 43-101 compliant gold resource and PEA.

Côte d'Ivoire:

JV option agreements were secured on the Tienko and La Debo Projects situated within the prospective West African Birimian Greenstone Belt, host to numerous world class gold mines. In both cases Goldrange has the option to acquire 100% of the projects (exclusive of State free-carry).

La Debo: Our flagship La Debo Brownfields Project acquired in December 2021 adds considerable value to the developing Goldrange portfolio.

Tienko: Exploration by Goldrange commenced in the fourth quarter of 2021 and has focused primarily on areas where previous owners drilled more than 30,000 m and confirmed a 10 km gold mineralised corridor.  Encouraging grab sampling results from recent fieldwork have allowed us to identify additional targets which will be investigated in the forthcoming campaign. Activities conducted in 2021 included:


In keeping with our strategy of building a robust and diversified gold portfolio by adding value through identifying unique highly prospective projects, we have acquired an option to earn 100% interest (exclusive of State free-carry) in the Tanzanian project, Golden Heights. We are taking a long-term view with respect to this project as we believe the tremendous potential more than mitigates any short-term return. Our reconnaissance site visit has confirmed the presence of significant high grade, vein hosted gold mineralization at depth with values up to 35 g/t gold.

The newly appointed President Samia of Tanzania is encouraging foreign mining investment to Tanzania. (Orecorp granted special mining licence at signing ceremony in December 2021, after many years of authoritarian handling by previous president). We are therefore extremely lucky to have added this potentially multi-million ounce gold project to our portfolio. We look forward to working with our influential and strong local Tanzanian partners who have vast experience in the mining industry.

New Financing Details:

The Company will be facilitating a private placement financing round before an expected sub-receipt round.  We welcome all current shareholders and new strategic investors to continue to participate in the upside as we evolve the Company towards its public listing aspirations.

Details of the financing terms and subscription agreements will be shared with all shareholders shortly.

Goldrange’s Strategy:

In addition, Goldrange has strengthened the Management Team with two new appointments;

Helen Pein (CEO) and Dr. Lynnette Greyling (VP Exploration), both of whom have extensive experience in gold exploration in Côte d'Ivoire and Tanzania. Joseph Arengi, the Company’s previous CEO, will remain with the Company as a consultant and technical advisor.

The abovementioned acquisitions support our corporate vision of building a robust portfolio that will add shareholder value in the near term and over time. We are very excited to have amassed within a short period such highly prospective projects in our portfolio.

Helen Pein, CEO

Goldrange Resources Corp.

Drilling at Tienko commenced in December 2021


About Goldrange Resources Corp.

Goldrange is an acquisition driven private resource company with a well funded treasury and a focus to quickly assemble a portfolio of highly prospective projects. The Company’s initial focus is on gold projects in Africa and is well positioned to pursue opportunities in other jurisdictions,

Qualified Person Statement

Joseph Arengi, P. Geo., CEO of the Company is the Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the scientific and technical information in this news release.

Investor Relations

Sandy Noyes

[email protected]

On Behalf of Goldrange Resources Corp.,

Helen Pein

Forward-looking information

This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Forward-looking statements include statements regarding the Company’s plans to acquire gold and other metal resource properties and that such properties will generate cash flows. Investors are also cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.





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