Range Issues $25,238,000 in Subscription Receipts for Middle East Project

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS
AGENCIES


Range Metals Inc. (CNSX:RGO)(FRANKFURT:YGK) ("Range" or the "Corporation") is
pleased to announce the closing of the private placement financing of
subscription receipts, previously announced on September 21, 2009, for gross
proceeds of $25,238,000. The Corporation has issued 126,190,000 subscription
receipts ("Subscription Receipts") at a price of $0.20 per Subscription Receipt.


All funds are being held in escrow pending the closing of a proposed acquisition
by Range Oil & Gas Ltd., a wholly-owned subsidiary of Range, of an indirect
interest in a Middle East oil and gas project (the "Acquisition"). If the
Acquisition is not completed by November 24, 2009, the funds will be returned to
the holders of the Subscription Receipts. Upon the closing of the Acquisition
and the release of the funds from escrow to the Corporation, the proceeds will
be used to pay for the Acquisition, costs related to the financing, Range's
currently due portion of ongoing exploration and development activities,
continuing exploration and drilling activity and for general corporate purposes.


Upon the closing of the Acquisition and the release of the funds from escrow to
the Corporation, each Subscription Receipt will automatically convert into one
common share (a "Common Share") and one share purchase warrant (a "Warrant").
Each Warrant will entitle the holder to purchase one Common Share at a price of
$0.40 per Common Share at any time during a two-year period from the date of
issuance. The Common Shares will be posted for trading on the CNSX but not the
Warrants. Once Warrants are exercised into Common Shares, such Common Shares
will be posted for trading. The Subscription Receipts as well as the Common
Shares and Warrants issuable thereunder will be subject to a four month hold
period under applicable Canadian securities laws.


Roche Securities Ltd. and Topleft Securities Ltd., exempt market dealers
registered in Ontario, Canada, (the "Finders") acted as finders in connection
with the financing. On the release of the funds from escrow, the Finders and
other dealers will be paid, pending final allocations, a 6% finders' fee of up
to $1,446,480. The Finders and other dealers will also receive options entitling
them to purchase, pending final allocations, up to 7,232,400 Common Shares at a
price of $0.20 per Common Share at any time up to two years from closing. The
Finders will also receive a corporate finance fee of $50,000 payable in cash.


Officers, directors and consultants of Range or its subsidiary participated in
the Subscription Rights offering by the tendering of $1,130,000 in debt owing to
them on the same terms, for the issuance of 5,650,000 Subscription Receipts; no
commissions are payable on such subscriptions. The Corporation has determined
that there are exemptions available from the various requirements of
Multilateral Instrument 61-101 for the issuance of the Subscription Receipts to
the directors and officers of the Corporation, (Formal Valuation - Issuer Not
Listed on Specified Markets; Minority Approval - Fair Market Value Not More Than
25% of Market Capitalization).


The halt of trading of the Corporation's Common Shares on the CNSX will continue
until further news releases are made in regard to the closing of the
Acquisition, the release of funds from escrow and the conversion of the
Subscription Receipts into Common Shares and Warrants.


There is no guarantee that the Acquisition will be concluded or that the
Subscription Receipts will be exchanged for Common Shares and Warrants and
investors should be aware of such risks and are specifically referred to the
"Forward-Looking Statement" below.


For further information please visit the Company's web site at www.rangemetals.com.

On Behalf of the Board of Directors:

Donald R. Sheldon, President and CEO

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.