News Release

Calgary, Alberta, Oct. 10, 2022 – Long Range Exploration Corporation (“LREX” or the “Company”) is pleased to announce that Ireland-based Murphy Geological Services [MGS] has been commissioned to undertake a structural study of its Simms Ridge Property in north-western Newfoundland, Canada. This work will involve the processing and structural interpretation of European Space Agency [Sentinel-2] satellite imagery for district coverage at 1:50,000 scale combined with the acquisition and interpretation of high-resolution WorldView-2 imagery for a more detailed analysis of the property at 1:10:000 scale. The draft report is expected by year-end with an announcement of the results in early January 2023.

Darrell Brown, Chief Executive Officer of LREX, commented, “We are excited to get this study underway as it offers a different approach where the structural work is done ahead of more traditional ground sampling programs. Furthermore, given the benefit of the airborne geophysics program conducted in Q1-22, the combined data sets will provide an early benchmark for our follow-up in the 2023 field season”.

Colin Davies, Director & VP Exploration of LREX, commented, “MGS will deliver in digital and GIS format, a better understanding of the structural controls across this part of Newfoundland, detailed fault kinematics (which are known to host potential gold mineralisation), an interpreted cross-section and target generation table for follow-up beyond what is already known historically. This study will then be used as guidance on the ground for soil sampling and geochemical work (planned for Q1-23) over the initial areas of interest where previous airborne geophysics (flown in Q1-22) identified anomalous targets for a proposed maiden drilling campaign scheduled for later in 2023”.

About Long Range Exploration Corporation

Long Range is a Calgary-based mineral exploration company focused on the discovery and development of structurally controlled orogenic gold projects in Newfoundland, Canada. The Company is presently concentrating its efforts on its wholly owned Simms Ridge Property immediately south of Pollard’s Point, located within the Humber Zone of the Newfoundland Appalachian Mountain Belt. Learn More.

Cautionary Note Regarding Forward-Looking Statements

This news release may contain “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Forward-looking statements herein include but are not limited to statements relating to the prospects for development of the Company’s mineral properties, and are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market and economic risks, uncertainties and contingencies that may cause actual results, performance or achievements to be materially different from those expressed or implied by forward looking statements. Except as required by law, the Company disclaims any obligation to update or revise any forward-looking statements. Readers are cautioned not to put undue reliance on these forward-looking statements.

CONTACT: Howie Wakeham, Director & VP Corporate Development, +1 403-847-9911

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