COMPANY UPDATE

Vancouver, B.C. – Range Metals Inc. (“Range” or the “Company”) wishes to announce that on February 7, 2007, it granted incentive stock options to its newly appointed directors and a consultant to purchase an aggregate of 1,500,000 shares of the Company at a price of $0.50 per share. The grant to its directors expires on February 7, 2012 and to its consultant expires on February 7, 2009. The grant is subject to a hold period that expires on June 9, 2007.

On Behalf of the Board of Directors:

“Donald R. Sheldon”

Donald R. Sheldon
President