VR announces private placement via non-mediated flow, plans for Hecla-Kilmer drilling program begin in October

VR . resources

VR . resources

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View south over a virtual reality exploration camp located at the hydroelectric dam facility in Otter Rapids in northern Ontario.  The Hecla-Kilmer Critical Metals discovery is located about 23 km to the west, to the right of this image.  Photograph taken in October 2021;  The camp will be used again for drilling planned for October 2022.

View south over a virtual reality exploration camp located at the hydroelectric dam facility in Otter Rapids in northern Ontario. The Hecla-Kilmer Critical Metals discovery is located about 23 km to the west, to the right of this image. Photograph taken in October 2021; The camp will be used again for drilling planned for October 2022.

This news release is not intended for distribution to US news services or for publication in the United States. Any failure to comply with this limitation may constitute a violation of US securities laws.

Vancouver, British Columbia, September 15, 2022 (GLOBE NEWSWIRE) – VR Resources Ltd. (TSX.V: VRR; FSE: 5VR; OTCQB: VRRCF), and for “a company or “VR”), for a private non-overflow position across the stream (referred to as “Finance”) in order to confirm funds for a planned drilling program next month at the Hecla-Kilmer Critical Metals discovery in northern Ontario.

Funding consists of 5,000,000 units ( units”) at a price $0.18 per unit for total revenue up to $900,000. Each unit will consist of one flow through a common share of the company (A ‘Flow through Sharing’) and half of the non-flow through common stock purchase order (A “note”), with each full declaration giving the owner the right to obtain one additional non-flow through a common share in the company (“Ordinary share”) at the exercise price $0.25 per ordinary share for a period of 18 months from closing date (“final date”) of financing. The company may pay up to 6% The money finder charges to the company in connection with the financing.

VR will use the aggregate proceeds to fund mineral exploration at its Hecla-Kilmer property in Northern Ontario, and more specifically for a drilling program planned this fall in the Hecla-Kilmer critical mineral discovery in Northern Ontario. This is now considered a demarcation pit at this point. The specific goal is to complete follow-up drilling on the 247-meter intersection with a 1.01% TREO starting surface at Hole 13 that was completed in May, and in two other areas 1.5 and 2.5 kilometers to the south, respectively, with higher grades. to 3.3% Trio locally.

The follow-up training program is scheduled to begin three weeks from now, in early October. The camp site in Otter Rapids is already in place and ready, constructed for the company’s previous drilling programs at Hecla-Kilmer, largely unchanged due to its ideal location with respect to rail, highway and grid power infrastructure only 23 km east of the project (see Camp photo from 2021 in shape 1).

The financing closing date is expected to be on or before September 23, 2022. Funding is subject to all regulatory approvals, including that of the TSX Venture Exchange. Securities issued in connection with this financing will be subject to a holding period of four months from the closing date.

The securities are not registered under the US Securities Act of 1933, as amended (the “US Securities Act”), or any of the securities laws of the United States, and may not be offered or sold in “US” or “US persons” (as defined in Regulation S under US Securities Act) without registration under US Securities Act and all applicable state securities laws or complying with an exemption from such registration.This press release does not constitute an offer to sell or the solicitation of an offer to buy There is no sale of securities in any state where such an offer, solicitation or sale would be illegal.

About virtual reality resources

VR is a well-established start-up exploration company focusing on new opportunities in critical minerals, copper and gold (TSX.V: VRR; Frankfurt: 5VR; OTCQB: VRRCF). Virtual reality seeks to create value by recognizing the shift in global demand for resources associated with the emergence of new and sustainable technologies in the transformation of the green economy. Virtual Reality is a continuation of 4 years of active exploration in Nevada by a Vancouver-based private company. The diverse experience and track record of its board of directors in the early stages of exploration, discovery, mergers and acquisitions is the foundation of virtual reality. The company focuses on undiscovered mineral systems with a large footprint in the western United States and Canada. The VR company owns its entire property and is continually evaluating new opportunities, whether by betting or acquisition.

On behalf of the Board of Directors:

Michael H. Gunning
___________________________________
Dr. Michael H. Janning, Ph.D., PGeo
President and CEO

For general information please use the following:

website:

www.vrr.ca

E-mail:

info@vrr.ca

phone:

604-262-1104

Contact:

Mike Gunning 604-262-1104

forward-looking statements

This press release contains forward-looking statements. Forward-looking statements are usually identified by words such as: believe, anticipate, anticipate, intend, estimate, assume and similar expressions or those that refer in nature to future events. Forward-looking statements in this release include, but are not limited to: the general use of proceeds, that the Company will complete financing and that the Company will carry out explorations at its properties in Ontario.

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

All public disclosure filings of the company can be accessed via www.sedar.com and readers are urged to review this material.

Neither TSX Venture Exchange nor the Regulatory Services Provider (as defined in the TSX Venture Exchange policies) accept responsibility for the adequacy or accuracy of this release.

Figure 1. A view south over a virtual reality exploration camp located at the hydroelectric dam facility in Otter Rapids in northern Ontario. The Hecla-Kilmer Critical Metals discovery is located about 23 km to the west, to the right of this image. Photograph taken in October 2021; The camp will be used again for drilling planned for October 2022.
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