Dr. Michael Gunning reports

VR RESOURCES ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT

VR Resources Ltd. has filled and completed its previously announced non-brokered private placement of 2.2 million units at a price of 22 cents per unit for aggregate proceeds of $484,000.

Each unit consists of one common share of the company and one-half of a common share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share at an exercise price of 40 cents per common share for a period of 18 months from the closing date of the financing.

Certain insiders of the company participated in the financing. The issuance of units to insiders of the company pursuant to the financing will be considered related party transactions within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transaction. The company intends to rely on exemptions from the formal valuation and minority approval requirements of sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of such insider participation, based on a determination that fair market value of the participation in the financing by insiders, will not exceed 25 per cent of the market capitalization of the company, as determined in accordance with MI 61-101.

The securities that were issued under the financing are subject to a four-month hold period under Canadian securities law expiring on Dec. 15, 2019.

In connection with the financing, the company paid a cash finder's fee of $7,332.38.

VR will use the net proceeds of the financing for mineral exploration on its properties in Ontario and Nevada, and for general administrative and corporate purposes.

The company has issued one million incentive options to directors, officers, employees and consultants, of which 825,000 of the options were issued to directors and officers. The options are exercisable at a price of 28 cents for a 10-year period expiring on Aug. 14, 2029.

About VR Resources Ltd.

VR is an emerging junior exploration company focused on large, underexplored copper-gold mineral systems in the Western United States and Canada. The diverse experience and proven record of its board in early-stage exploration, discovery, and mergers and acquisitions (M&A) is the foundation of VR. The company is focused on large, underexplored copper-gold mineral systems in the Western U.S. and Canada. VR is the continuance of four years of exploration in Nevada by a private exploration company.

We seek Safe Harbor.