ARRANGEMENT TO OPTIMIZE SHAREHOLDER VALUE PLANNED

Vancouver, BC, Canada – Range Metals Inc. (the “Company”) (CNQ:RMIC) (FWB:B4N) announces that it has entered into an arrangement agreement dated as of February 19, 2008 (the “Arrangement Agreement”) with Range Gold Corp. (“Range Gold”), its wholly owned subsidiary. The purpose of the Arrangement is to reorganize the Company’s business units and optimize shareholder value by separating its investments in mineral exploration properties from its other investments in the resource sector.

The Arrangement Agreement provides that the shareholders of the Company will receive one-half of a common share of Range Gold for each common share of the Company held by them, with the result that the shareholders of the Company will also become shareholders of Range Gold. Following completion of the Arrangement, Range Gold will become a reporting issuer in each of the jurisdictions that the Company is a reporting issuer and intends to seek a listing on the Canadian Trading and Quotation System Inc. (the “CNQ”).

Completion of the transactions contemplated by the Arrangement Agreement is subject to the approval of the shareholders of the Company and the Supreme Court of British Columbia. The Company is holding its annual and special meeting on Tuesday April 15, 2008, at which time it intends to seek shareholder approval of the Arrangement.

About Range Metals Inc.

Range Metals Inc., publicly traded on the Canadian Trading and Quotation System (CNQ:RMIC) and Frankfurt Stock Exchange (FWB: B4N), is involved in the exploration and development of gold, minerals, and oil & gas properties through its two wholly-owned subsidiaries, Range Gold Corp. and Range Oil & Gas Inc.

For further information on Range Metals Inc. and its subsidiaries visit Range’s web site at www.rangemetals.com

ON BEHALF OF THE BOARD OF DIRECTORS

“Don Sheldon”, President

For further information contact

Don Sheldon or Garth Edgar, CFO

Tel: 604-687-2038 Fax: 604-687-3141

Email: range@rangemetals.com

THE CNQ AND FRANKFURT STOCK EXCHANGES HAVE NOT REVIEWED AND DO NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS PRESS RELEASE.

This news release contains certain statements that may be deemed “forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Range believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Range’s management on the date the statements are made. Range undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change, except as required by law.