Valhalla Metals Inc. announced assay results from four diamond drill holes totaling 1,104 m completed during the 2023 exploration program at its Sun project located in the World Class Ambler Mining District, Northwest Alaska. All four drill holes intersected multiple significant mineralized intervals. Highlights Include: Sun23-01 intersected 13.7m of 3.07% CuEq (1.24% Cu, 0.92% Pb, 3.45% Zn, 0.16 g/t Au, and 55.79 g/t Ag);.

Sun 23-02 intersected 14.6m of 1.91% CuEq including 10.8m of 2.2% CuEq (0.69% Cu, 0.73% Pb, 2.88% Zn, 0.12 g/t Au, and 53.77 g/t Ag);. The 2023 program included the construction of a new 24-man camp, a LiDAR and orthophotography survey over the Sun and Smucker properties, and a ground gravity survey at Sun. The Company also completed 4 drill holes for a total of 1,104m in addition to relogging 6 historic drill holes totaling 1,416m of core.

Final analytical results and drill hole statistics are shown below in the tables. (Cu%) x $Cu x 22.0462)0.91 + ((Pb%) x $Pb x 22.0462) 0.91 + (Au(g/t)/$Ag31.1034768)0.35))/($Cu22.0462); Commodity prices: $Cu = USD 3.00/lb., $Pb = USD 1.00/lb; $Zn = USD 1.10/lb; $Au = USD 1,700/oz., and Ag = USD 20.00/oz.; Recoveries assumed to be 91% Cu, 80% Pb, 91% Zn, 59% Au, 35% Ag and were multiplied for each respective metal. Recoveries are based on the technical report titled "Technical Report on the Sun Project, Brooks Range, Alaska, USA filed on Sedar by the Company on May 18, 2022 and modelled after the recoveries of the neighboring Arctic VMS deposit Feasibility Study; Factors: 22.0462 = Cu% to lbs.

per %, 31.1034768 = Au g/t to g per troy oz, and 31.1034768 = Ag g/t to g per Troy oz.