VANCOUVER - VR Resources Ltd. (TSX.V: VRR, FSE: 5VR; OTCQB: VRRCF), the 'Company', or 'VR', is pleased to provide new data from the first of five holes completed in October at its Hecla-Kilmer ('H-K') project in northern Ontario.

A 299 m intersection in drill hole HK21-005, starting near surface, confirms the discovery of a new and large-footprint REE and Critical Metals system at H-K: Total rare earth oxides (TREO(1)) average 0.47 % TREO over 299.53 metres starting near surface at 52 metres hole depth, just 8 metres below the base of till, and include: TREO up to 1.70 % over 3 m from 156 m, within 28 m of 0.80 % TREO starting at 152 m; Middle and Heavy rare earth oxides (MHREO(2)) of up to 0.18% over 3 m at 152 m.

Concentrations of the critical metal niobium of 0.20% Nb2O5 over 237.46 m, including: 55 m at 0.23% Nb2O5 and 25.4 ppm Ta2O5 from 183 m; 31 m at 0.31% Nb2O5 and 33.4 ppm Ta2O5 from 275 m.

H-K is Confirmed as a new REE and Critical Metal System in Canada

The new data from drill hole HK21-005 confirms the discovery of rare earth elements ('REE') and critical metals, for example, niobium and lithium, by the first round of reconnaissance drilling in 2020 (drill hole HK20-002 reported in July in NR-21-17, and; drill hole HK20-004 reported in October in NR-21-20). Drill hole HK21-005 confirms a strengthening of the mineral system within the main gravity anomaly.

Background

Hecla-Kilmer ('H-K') is a large and multiphase alkaline intrusive complex with carbonatite which is 4 - 6 km in diameter. It is Proterozoic in age, and was emplaced along the western margin of the crustal-scale Kapuskasing structural zone which bisects the Archean Superior Craton in northern Ontario.

A shallow, six-hole diamond drill program was completed in 1970 as part of a regional base metal exploration program by Ashland Oil and Elgin Petroleum. One hole was abandoned, and a scant 854 m were completed in total in the other 5 holes, all on magnetic highs in the outer concentric zones of the complex. No geochemical sampling or data are reported. Selco Exploration Company completed two drill holes in 1981 on peripheral magnetic highs as part of a regional diamond exploration program; they intersected ultra-basic rocks and breccias peripheral to the outer, concentric zones of the multiphase H-K complex. A regional airborne magnetic survey covering H-K was completed in 1993 for diamond exploration, after the early drilling at H-K; it provides high resolution detail of a concentrically zoned magnetic anomaly at H-K.

The opportunity for VR is to be the first company to apply modern IOCG and carbonatite mineral deposit models to explore the multiphase H-K complex and hydrothermal breccia system as a whole, and to use new exploration technologies not previously available when the historic drilling was done. VR completed the first airborne EM survey over H-K in June, 2020, using the state-of-the-art VTEM+ system of Geotech Ltd. Flown at 100 m line spacing over a 6 x 7 km survey block for a total of 450 line-km, the data provide a high resolution of detail. The Company also had an independent, 3-D inversion of both magnetic and EM data completed for improved modeling. Finally, a ground-based gravity survey covering an area of 1.5 x 3.5 km was completed in the winter season of 2021, with high-resolution data generated from 597 stations on an equant grid spacing of 100 m. The reader is referred to NR-20-08 dated June 18th, 2020, for photographs of magnetite-copper-fluorite vein and vein breccia replacement in core from the historic 1970 drill holes located around the periphery of the new gravity anomaly delineated by VR, and gold grains retrieved from drill core rubble. Current exploration by VR is utilizing this newly acquired geophysical data to both explore for the source of the copper and gold in the historic core rubble, and to expand upon on the new discovery of REE and Critical Metals in our first-pass drilling in 2020 and 2021.

About Hecla-Kilmer

The Hecla-Kilmer complex is located 35 km southwest of the Company's Ranoke property in northern Ontario. It is located 23 km northwest of the Ontario hydro-electric facility at Otter Rapids, the Ontario Northland Railway, and the northern terminus of Highway 634 which links the region to the towns of Cochrane and Kapuskasing along the northern Trans-Canada Highway located some 100 km to the south.

The H-K property is large. It consists of 224 mineral claims in one contiguous block approximately 6 x 7 km in size and covering 4,617 hectares. The property is owned 100% by VR. There are no underlying annual lease payments on the property, nor are there any joint venture or back-in interests. There is an industry-standard royalty attached to the property, including a buy-back provision in favour of VR.

Like the Ranoke property, H-K is located on provincial crown land, with mineral rights administered by the provincial Ontario Ministry of Northern Development and Mines (MNDM). There are no annual payments, but the MNDM requires certain annual exploration expenditures and reporting. The property falls within the traditional territories of the Moose Cree and Taykwa Tagamou First Nations.

About VR Resources

VR is an established junior exploration company focused on greenfields opportunities in copper and gold (TSX.V: VRR; Frankfurt: 5VR; OTCQB: VRRCF). VR is the continuance of 4 years of active exploration in Nevada by a Vancouver-based private company. The diverse experience and proven track record of its Board in early-stage exploration, discovery and M&A is the foundation of VR. The Company focuses on underexplored, large-footprint mineral systems in the western United States and Canada, and is well financed for its exploration strategies and corporate obligations. VR owns its properties outright, and evaluates new opportunities on an ongoing basis, whether by staking or acquisition.

The Company continues its normal course of business in 2021 within the framework of modified exploration programs in response to the COVID-19 pandemic, with the goal of ensuring the health and safety of staff and project personnel.

Contact:

Tel: 604-262-1104

Email: info@vrr.ca

Web: www.vrr.ca

Forward Looking Statements

This press release contains forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions or those which, by their nature, refer to future events. Forward looking statements in this release include 'The new data from drill hole HK21-005 confirm the discovery of rare earth elements ('REE') and critical metals', 'We look forward to providing further updates as we receive additional geochemical data from the remaining drill holes completed in October' and 'VR evaluates new opportunities on an ongoing basis, whether by staking or acquisition.'

This news release contains statements and/or information with respect to mineral properties and/or deposits which are adjacent to and/or potentially similar to the Company's mineral properties, but which the Company has no interest in nor rights to explore. Readers are cautioned that mineral deposits on similar properties are not necessarily indicative of mineral deposits on the Company's properties.

Although the Company believes that the use of such statements is reasonable, there can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future performance, and that actual results may differ materially from those in forward-looking statements. Trading in the securities of the Company should be considered highly speculative. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials.

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