Tocqueville Asset Management, L.P. Announces Acquisition of Common Shares of Silver Range Resources Ltd.

TORONTO, Nov. 8, 2011 /CNW/ - Tocqueville Asset Management, L.P. (the "Offeror"), the investment adviser of a number of investment funds and managed accounts of private clients and institutional groups (collectively, the "Accounts"), announces that on July 27, 2011, the Offeror, on behalf of one or more Accounts, acquired an aggregate of 4,309,891 common shares ("Common Shares") of Silver Range Resources Ltd. (the "Issuer") directly from the Issuer pursuant to a spin off transaction (the "Transaction") with Strategic Metals Ltd.

Immediately after the completion of this private placement offering, the Offeror, on behalf of one or more Accounts, had authority to exercise control or direction over an aggregate of 4,309,891 Common Shares, representing 11.63% of the issued and outstanding Common Shares as at October 31, 2011.  The Offeror, on behalf of one or more Accounts, now has authority to exercise control or direction over an aggregate of 4,309,891 Common Shares, representing 11.63% of the issued and outstanding Common Shares as at October 31, 2011.

The Common Shares acquired by the Offeror, on behalf of one or more of the Accounts, are held for investment purposes.  These investments will be reviewed on a continuing basis by the Offeror and such holdings may be increased or decreased in the future.  The Offeror, on behalf of one or more of the Accounts, may in the future acquire or dispose of the Common Shares and other securities of the Issuer through the open market, privately or otherwise, as circumstances or market conditions warrant.

The Offeror has filed an early warning report pursuant to National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues describing the above transaction with applicable securities regulatory authorities, a copy of which shall be sent promptly to anyone who requests it from the representative of the Offeror noted below.

SOURCE Tocqueville Asset Management, L.P.

For further information:

Robert J. Kramer
Chief Operating Officer
Tocqueville Asset Management, L.P.
40 West 57th Street, 19th Floor
New York, New York 10019 U.S.A.

Telephone: (212) 698-0800

Profil de l'entreprise

Tocqueville Asset Management, L.P.

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