Valhalla Metals Intersects 32.6m of 4.35% CuEq, Including 6.5m of 6.98% CuEq, at the Sun Project

(TSXV:VMXX, OTCQB:VMXXF) Valhalla Metals Inc. announced assay results from the 2026 exploration program at its flagship Sun project in the Ambler Mining District, Northwest Alaska. The release covers results from the first three diamond drill holes, totaling 739 meters. Drill hole Sun26-005 intersected 11.2 meters of 5.67% CuEq, including 0.27% Cu, 4.01% Pb, 9.77% Zn, 0.21 g/t Au, and 96.73 g/t Ag. Drill hole Sun26-006 intersected 32.6 meters of 4.35% CuEq, including a subinterval of 6.5 meters of 6.98% CuEq (0.46% Cu, 3.96% Pb, 11.95% Zn, 0.27 g/t Au, and 135.4 g/t Ag). Drill hole Sun26-007 intersected 12.5 meters of 3.97% CuEq (2.07% Cu, 0.69% Pb, 3.43% Zn, 0.18 g/t Au, and 41.59 g/t Ag). The 2026 drilling campaign at Sun comprised six diamond drill holes totaling 1,787 meters, utilizing two newly acquired company-owned drill rigs. Infrastructure upgrades and repairs were completed at the project camp following winter snow damage. Regional exploration included geological mapping at the SW Sun and South-Fold prospects, and field reconnaissance and rock sampling at the newly acquired Smucker property. The 2026 drilling was designed to fill resource model gaps within inferred areas and test mineralization down-dip and along strike, with step-outs ranging from 50 to 100 meters. Every hole confirmed the continuation of high-grade mineralization. Holes Sun26-005 and Sun26-006 followed up on a thicker mineralized interval from Sun23-004 drilled in 2023, while Sun26-007 was drilled in an area of historical drilling to validate past intercepts and assess continuity of stacked ore horizons. Sampling was supervised by the Project Manager, with all samples delivered to ALS Laboratories in Fairbanks, Alaska, and further processed in Reno and Las Vegas, Nevada. Analytical methods included a 4-Acid ICP-MS 48 multielement package and four-acid digestion for high-grade samples, with gold analyzed by fire assay on a 30 g aliquot. Three QA/QC samples (one standard reference material, one duplicate, one blank) were inserted into every batch of 20 samples. Seven SRMs were used in 2026, with accepted copper values of 0.66% to 3.82%, zinc values of 0.05 ppm to 17.45%, lead values of 0.5% to 12%, silver values of 68 to 294 ppm, and gold values of 0.5 to 2.91 ppm. Caroline Gilson, P.Geo., of GeoSpark Consulting Inc., conducted an independent QAQC review, confirming strong accuracy and precision. ALS North American analytical laboratories are accredited by the Standards Council of Canada to ISO/IEC 17025:2005. Bonnie Broman, CPG, Vice President, Exploration for Valhalla Metals Inc., is the Qualified Person for the release and has verified the data. Commodity prices used for CuEq calculation were US$3.50/lb for copper, US$0.90/lb for lead, US$1.25/lb for zinc, US$3,700/oz for gold, and US$50.00/oz for silver. Recoveries assumed were 91% for Cu, 80% for Pb, 91% for Zn, 59% for Au, and 35% for Ag, based on Valhalla's 43-101 and modeled after the Arctic VMS deposit Feasibility Study. Intervals are reported as drilled core lengths; true widths are not yet known. Partners Teck and Marubeni are referenced as globally respected partners in the project.

Valhalla Engages Independent Trading Group for Automated Market Making Services

(TSXV: VMXX) (OTCQB: VMXXF) Valhalla Metals Inc. announced that, subject to regulatory approval, it has engaged Independent Trading Group (ITG), Inc. to provide automated market making services in compliance with TSX Venture Exchange policies. Under the agreement, ITG will receive compensation of CAD$7,500 per month, payable monthly in advance. The agreement is for an initial term of one month and will renew automatically for additional one-month terms unless terminated, with either party able to terminate with 30 days' notice. ITG will not receive shares or options as compensation and will be responsible for its own costs in buying and selling the Company's common shares. ITG and Valhalla Metals Inc. are unrelated and unaffiliated entities, and at the time of the agreement, neither ITG nor its principals have an interest in the securities of the Company. The agreement remains subject to the approval of the TSXV. The company projects that ITG's services will maintain a reasonable market and improve the liquidity of the Company's common shares.

Valhalla Metals Commences 2026 Drill Program at the Sun Project

(TSXV: VMXX) (OTCQB: VMXXF) Valhalla Metals Inc. announced the start of the 2026 exploration program at its Sun project located in the World Class Ambler Mining District, Northwest Alaska. The 2026 exploration program is fully funded and is primarily designed to follow up on the successful drilling completed at the Sun Project in 2023, which confirmed the continuity of high-grade copper-zinc-lead-gold-silver mineralization beyond the limits of the current resource model. Drilling highlights from the 2023 Exploration Program at the Sun Project include intercepts such as 21.4 metres grading 6.84% copper equivalent (CuEq*), within a broader interval of 52.4 metres grading 3.30% CuEq*. Additional results include Sun23-01 intersecting 13.7m of 3.07% CuEq*, Sun23-02 intersecting 14.6m of 1.91% CuEq*, Sun23-03 intersecting 13.8m of 3.44% CuEq*, and Sun23-04 intersecting 21.4m of 6.84% CuEq*. The company is also conducting reconnaissance work at the newly acquired Smucker project and is working with AIDEA and their contractors on advancing engineering and infrastructure related activities related to the Ambler Road project. The company plans to ready the Smucker project for drilling during the 2027 field season. Commodity prices used for CuEq calculations are $Cu = US$3.00/lb., $Pb = US$1.00/lb; $Zn = US$1.10/lb; $Au = US$1,700/oz., and Ag = US$20.00/oz.

Valhalla Announces Simplification of Capital Structure

(TSXV: VMXX) (OTCQB: VMXXF) Valhalla Metals Inc. announced that it has simplified its dual-class share structure by eliminating the class of multiple voting shares ("MVS") as an authorized class of shares and renaming the subordinate voting shares ("MVS") as "Common Shares" (the "Capital Alteration"). The conversion of all outstanding MVS into SVS occurred on June 1, 2026, and the removal of special rights and restrictions was approved by a special resolution of shareholders at the annual general and special meeting held on June 30, 2026. The Capital Alteration was approved by the board of directors on July 7, 2026, and effected by amendment to the Company's Notice of Articles. The Common Shares are anticipated to begin trading on the TSX Venture Exchange under a new CUSIP (91914U206) and ISIN (CA91914U2065) as at the open of market on July 10, 2026, with the stock symbol (VMXX) remaining unchanged. The authorized share capital now consists of an unlimited number of Common Shares with no par value, of which 151,140,901 Common shares are issued and outstanding. No Common Shares are subject to escrow restrictions. The company projects that the Common Shares will begin trading under a new CUSIP / ISIN on the timing anticipated.

Valhalla Completes Acquisition of Smucker Project from Teck and Final Tranche of Over-Subscribed Private Placement for $15 Million, with Investment from Teck and Marubeni

(TSXV: VMXX) Valhalla Metals Inc. announced the successful completion of its acquisition of the high-grade copper-gold-silver-zinc Smucker Project from Teck American Incorporated, a subsidiary of Teck Resources Limited. As consideration for the acquisition, Valhalla issued 44,813,642 subordinate voting shares and granted Teck a 2.0% net smelter returns royalty on certain portions of the Smucker Project, as well as a priority purchase right and right of last offer on concentrate produced from the Sun and Smucker properties. The company completed the second and final tranche of its over-subscribed non-brokered private placement, issuing 2,691,555 Subscription Receipts for gross proceeds of approximately $1.75 million at a price of $0.65 per Subscription Receipt, and in total issued 23,076,923 Subscription Receipts for gross proceeds of approximately $15 million. Teck invested $1.75 million and an affiliate of Marubeni Corporation invested approximately $1.7 million in the Offering. The Sun deposit currently hosts a NI 43-101 mineral resource of 1.71 million tonnes of Indicated mineral resources grading 1.48% Cu, 0.21 g/t Au, 60 g/t Ag, 4.32% Zn, and 1.11% Pb, and 9.02 million tonnes of Inferred mineral resources grading 1.21% Cu, 0.25 g/t Au, 81.70 g/t Ag, 4.18% Zn, and 1.46% Pb. The company completed a 2023 drill program at the Sun project, including four diamond drill holes totaling 1,104 meters, with results such as Sun 23-04 intersecting 21.4m of 6.84% CuEq within a larger interval of 52.4m of 3.3% CuEq. The company plans drilling at the Sun deposit during the summer field season and at Smucker for 2027 once permits and logistics are arranged.

Valhalla Metals Announces Closing of First Tranche of Over-Subscribed Private Placement

Valhalla Metals Inc. (TSXV: VMXX, OTCQB: VMXXF) announced the completion of the first tranche of its over-subscribed non-brokered private placement of subscription receipts, raising approximately $13.25 million through the issuance of 20,385,368 Subscription Receipts at $0.65 each. Teck Resources Limited placed an order for $1.75M, and certain insiders participated with a total of 206,272 Subscription Receipts for gross proceeds of $134,076.80. The Offering is being conducted in connection with Valhalla's acquisition of the Smucker Project from Teck American Incorporated, with the first tranche completion satisfying a condition to closing the Transaction, which is expected in late May or early June 2026. Net proceeds are expected to fund exploration at the Sun Property and Smucker Project, as well as general and administrative costs. Cash finder's fees totaling $274,950.86 will be paid upon conversion of the Subscription Receipts. The Offering is subject to final TSXV approval, and all securities issued are subject to a four-month and one-day hold period. A final tranche of the Offering is expected to close by late May.

Valhalla Metals Announces Upsize to Private Placement

Valhalla Metals Inc. (TSXV: VMXX, OTCQB: VMXXF) announced an increase in the size of its non-brokered private placement, now raising up to $12,500,000 at a price of $0.65 per Subscription Receipt. The Offering is connected to the acquisition of the Smucker Project from Teck American Incorporated and is expected to close in June 2026. Net proceeds are expected to fund approximately $8 million in exploration at the Sun Property and $300,000 for mapping and survey work at the combined Smucker Project, as well as general and administrative costs. The Offering is subject to customary closing conditions and escrow arrangements, with Subscription Receipts converting to common shares upon satisfaction of the Escrow Release Condition. The Company reserves the right to increase the Upsized Offering by 20%.

Valhalla Metals Announces Private Placement Offering of Subscription Receipts, with Lead Orders from Major Shareholders

Valhalla Metals Inc. announced a non-brokered private placement of 7,692,307 subscription receipts at a price of $0.65 per Subscription Receipt for aggregate gross proceeds of $5,000,000. The Offering is being conducted in connection with the Company's acquisition of the Smucker Project from Teck American Incorporated. Teck and Marubeni Corporation have indicated their intention to participate in the Offering for approximately $1.75 million and $1.7 million, respectively. The proceeds are expected to be used for exploration expenditures on the Sun Property, work at the Smucker Project, and general working capital. The Company reserves the right to increase the size of the Private Placement by 100% for aggregate proceeds of $10,000,000.