RANGE ANNOUNCES $2 MILLION NON-BROKERED PRIVATE PLACEMENT AND CLOSES SECOND TRANCHE OF NON-FLOW-THROUGH FINANCING

Vancouver, B.C. – Range Metals Inc. (“Range” or the “Company”) is pleased to announce that it has arranged a non-brokered private placement of 2,000,000 common shares of Range at a price of $1.00 per common share. Range may pay a finder’s fee pursuant to the policies of the CNQ.

The above placement is subject to regulatory approval.

Proceeds from the Offering will be used by Range to fund the completion of the Company’s exploration programs on its northern Ontario properties which includes line cutting and geophysics, development of interests in the Company’s oil and gas projects as well as for general working capital and operating expenses.

Further to the Company’s news release dated January 3, 2007, Range has closed a second and final tranche of a non-brokered private placement of 2,000,000 non-flow-through units of Range, as previously announced by news release dated December 7, 2006, for gross proceeds to Range of $350,000. 700,000 common shares and 700,000 transferable share purchase warrants were issued to two subscribers. Each warrant entitles the holder to acquire one common share in the capital of Range at a per share price of $0.65 until February 12, 2009. The securities are subject to a hold period until June 13, 2007. No finder’s fee was paid in connection with this Offering.

On Behalf of the Board of Directors:

“Donald R. Sheldon”

Donald R. Sheldon
President