VR Resources Ltd V.VRR

VR confirms additional broad intersections of Critical Metal

[mmck12]

June 28, 2022, Vancouver, B.C.: VR Resources Ltd. (TSX.V: VRR, FSE: 5VR; OTCQB: VRRCF), the "Company", or “VR”, has received the assay data from the first two drill holes from the recently completed third drill program at its Hecla-Kilmer (“H-K”) property located in northern Ontario. New critical metal intersections are highlighted below. Results for the six remaining holes are expected over the next 2 – 4 weeks. 80 metres at 0.67% TREO within 131 metres at 0.41% TREO in Hole HK22-010; 13 metres at 0.94% TREO within 88 metres at 0.50% TREO in Hole HK22-011. Individual one metre samples from the 13 metre intersection in Hole 11 contain up to 2.3% TREO (Total Rare Earth Oxide), up to 39.1% Fe2O3, and up to 11.2% P2O5. Table 1. Summary of the broad intersections of Critical Metals made to date at Hecla-Kilmer. Figure 1. Plan map with the location of all 17 drill holes completed in the first three drill programs at HeclaKilmer, plotted on an RTP magnetic basemap covering the entire complex. Figure 2. Drill hole locations and key Critical Metal intersections in the northwestern portion of H-K, plotted on a 1VD magnetic map derived from the ultra- high resolution drone survey completed in 2022. Figure 3. Down-hole geochemical plot from drill hole HK22-010 and HK22-011 showing the polymetallic nature of the 131 and 88 metre intersections of Critical Metals respectively, including light and mediumheavy REE’s, and niobium and tantalum. Drill core photos in Figure 4 and Figure 5 are from the 88 metre intersection in Hole 11. Hydrothermal veins of fluorite and apatite host REE’s at H-K, and they commonly occur within a potassic alteration mineral assemblage that is dominated by magnetite and which completely replaces the host rock. From VR’s CEO, Dr. Michael Gunning, “These new data confirm the potential for a large volume of Critical Metals in the polymetallic breccia system discovered at Hecla-Kilmer by VR. Scale is important. VR has now confirmed REE’s and critical metals in 7 of 11 drill holes at Hecla-Kilmer, over intervals ranging from 50 to 299 metres, with total REE concentrations of 0.5% on average, and up to 2.3 % TREO. Mineralization spans an area of approximately 700 x 1000 metres in the northwestern part of the complex, extending from the base of till at 42 metres in Hole 4 to more than 600 metres depth in Hole 2. Composition is also important. The ratio of up to 20% MH-TREO (middle and heavy Rare Earth Oxide) within the 13 metre intersection of 0.94 % TREO (total Rare Earth Oxide) in Hole 11 is more than double compared to the intersections in previous drilling. The heavy REE’s Dysprosium and Terbium are more valuable, fore example, because they are essential in the production of permanent magnets used in electric vehicles and wind energy turbines. This new drilling also confirms the polymetallic nature of the hydrothermal breccia system at H-K. The intersection of 0.27% Nb over 80 metres in Hole 10 compliments the 237 metres @ 0.2% Nb in Hole 5 from last year, with TREO of 0.5 - 0.67 % on average across the broad intersections, and up to 1.7%. VR RESOURCES LTD. 1500 – 409 Granville St. Vancouver, BC, Canada, V6C 1T2 Tel: [phone]; [e-mail] TSX.V: VRR; www.vrr.ca Hydrothermal breccia and high temperature alteration at H-K are controlled by structures. As shown on the RTP magnetic map in Figure 2, mineralization is now evident on both sides of the main north-south fault with anomalous gold values, and along a strike length of more than 500 metres. Further, the new intersection in Hole 11 shows that the opposing east-west fault is also mineralized, with data pending for Holes 13 (vertical), 14, and 17 located farther to the west. In addition, the magnetic anomalies located some 1,000 metres farther to the east along strike of this fault have yet to be drilled (see Figure 1). Drill core samples were submitted to the laboratories in sequence, as the holes were completed, so we now anticipate receiving the remainder of our data over the next four weeks, or so. The potassic alteration and hydrothermal veins and breccia which host the mineralization reported herein for Holes 10 and 11 are evident to the same extent in Holes 13, 14 and 17. The potential of this discovery lies in the polymetallic nature of the intersections made to date, and the sheer scale of the hydrothermal breccia system both laterally and vertically. The relevance of H-K to the rapidly developing critical metal strategies of governments across North America underscores its potential value to VR, and we look forward to providing further updates as new data are received.”