Vancouver, BC - TheNewswire - May 11, 2023 - VR Resources Ltd. (TSX.V:VRR) (FSE:5VR) (OTC:VRRCF), (the “Company”, or “VR”), has strengthened its Corporate framework as drilling gets underway at its Northway kimberlite breccia pipe and Hecla-Kilmer REE critical metals project in northern Ontario.

From VR’s Founder and CEO, Dr. Michael Gunning;

The expansion and strengthening of VR across our Board, Management and Technical teams conveys our conviction, and commitment to execution on three separate properties and opportunities this year. Indeed, we feel that 2023 presents a stronger potential growth profile for our Company than in any year since our IPO in 2017.  

With the successful Close of a $1.9M Financing, our near-term goal is to translate those funds into drilling to advance the kimberlite breccia pipe discovery on our Northway property in northern Ontario, and our nearby by REE critical metals project at Hecla-Kilmer. Beyond that, we also plan to complete two state-of-the-art geophysical surveys this spring on the large-footprint, polymetallic porphyry system at our New Boston property in Nevada, where sheeted veins and dykes with copper, moly and silver are mapped on surface over a strike length of some 4 km.  We expect results and news flow related to all three initiatives through the summer months.

We welcome Keith, Terese and Kevin to the team. They bring a wealth of experience to our various exploration and corporate strategies, and we look forward to their contributions as our exploration this year gets underway.

Board of Directors.  

The Company is pleased to announce that Mr. Keith Inman has joined the Board of Directors, effective immediately.  Mr. Inman is a partner in the Business Law group of Pushor Mitchell LLP, a full-service law firm located in Kelowna, British Columbia, with a practice focused on advising emerging and mid-market companies on corporate/commercial and securities law related matters, including corporate finance and M&A transactions.

Corporate Compliance.

Terese Gieselman joins VR as Corporate Compliance Officer. Terese is the founder and President of MinCo Corporate Management Inc., a corporate services company in Kelowna, BC.  Ms. Gieselman has 37 years of international experience with junior mining and exploration companies listed on the TSX, TSXV, OTCBB, NASDAQ and AMEX, in the roles of CFO, Treasurer, Corporate Secretary and director. During her tenure in the resource sector, Ms. Gieselman has accumulated an extensive background in corporate and financial reporting and compliance for Canada and the United States, including particularly relevant experience in financings, treasury, international corporate structure and financial reporting in Mexico, Peru, Chile, Argentina and Zimbabwe.

Technical Advisor

Kevin Kivi, PGeo, based in Thunder Bay, Ontario, joins the VR team as a Technical Advisor. Kevin has been working with us on the drill core from our Northway project located in northern Ontario since the discovery hole was made into the kimberlite breccia pipe last November. He brings a wealth of experience to the table via 30 years in active hands-on diamond exploration, most notably in his roles as both Principal Geologist and Exploration Manager within the North American diamond exploration team at Rio Tinto PLC.

Stock Option Allocation

The Company has approved an aggregate allocation of 1,825,000 incentive stock options at a price of $0.19 and exercisable for a period of five years to various directors, officers, employees and advisors of the Company, and in accordance with the terms of the Company’s Stock Option Plan.

About VR Resources

VR is an established junior exploration company focused on unique, greenfield opportunities on large-footprint mineral systems for critical metals, copper and gold in the western United States and Canada (TSX.V: VRR; Frankfurt: 5VR; OTCQB: VRRCF). VR is the continuance of 4 years of active exploration in Nevada by a Vancouver-based private company. The foundation of VR is the diverse experience and proven track record of its Board in early-stage exploration, discovery and M&A. The Company is well financed for its exploration strategies and corporate obligations. VR owns its properties outright and evaluates new opportunities on an ongoing basis, whether by direct staking or acquisition.

ON BEHALF OF THE BOARD OF DIRECTORS:

“Michael H. Gunning”

_____________________________

Dr. Michael H. Gunning, PhD, PGeo
President & CEO

For general information please use the following:
Website:        www.vrr.ca                                
Email:                info@vrr.ca                        
Contact:        Mike Gunning, 604-374-3708; e-mail: mgunning@vrr.ca

Forward Looking Statements

This press release contains forward-looking statements.  Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions or are those which, by their nature, refer to future events.  Forward looking statements in this release, for example include but are not limited to: the general use of proceeds; that the Company will carry out exploration on its properties in Nevada and Ontario; that the Company evaluates new opportunities on an ongoing basis.

Although the Company believes that the use of such statements is reasonable, there can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.  The Company cautions investors that any forward-looking statements by the Company are not guarantees of future performance, and that actual results may differ materially from those in forward-looking statements.  Trading in the securities of the Company should be considered highly speculative.

The Company’s public disclosure filings can be accessed via www.sedar.com and readers are urged to review the materials.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.