COMPANY ANNOUNCES $1 MILLION 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 units of Range at a price of $0.50 per unit. Each unit will consist of one common share of the Company and one transferable share purchase warrant. Each warrant will entitle the holder to purchase one additional common share of Range at a price of $0.65 until the second anniversary of the completion of the Offering.

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 its exploration programs on its recently acquired properties in the Rainy River area (see Range’s news release dated November 30, 2006), and for general working capital and operating expenses. Range is also working towards incorporating a new subsidiary and will be actively seeking oil and gas exploration opportunities.

On Behalf of the Board of Directors:

“Donald R. Sheldon”

Donald R. Sheldon
President