The Shourya missile is indeed part of India`s defence arsenal, but neither Statement 1 nor Statement 2 accurately describes its characteristics.

Statement 1 suggests that the Shourya missile flies with a speed of more than 8 Mach. However, in reality, the Shourya missile has a speed of approximately 7.5 Machs, less than the speed mentioned in the statement.

Statement 2 implies that the range of the Shourya missile is more than 1600 km. However, according to reliable sources, it has an estimated range of between 700 to 1900 km. It`s not guaranteed to always hit the upper range of 1600 km.

Hence, option 4 `Neither 1 nor 2` is correct as both the statements about the Shourya missile`s speed and range are not unequivocally accurate. So, neither of the options 1, 2, or 3 which offer only one statement as correct or both can be considered as the right answer.