Valor Resources : Berenguela Acquisition Agreement Extension.pdf

ASX Release

5 March 2020

VALOR RESOURCES LIMITED

ACN 076 390 451

22 Lindsay Street

PERTH, WA

Australia

Tel: [phone]

Fax: [phone]

Contact: Nick Lindsay

E-mail:

[e-mail]

@valorresources

Directors

Brian McMaster

Nicholas Lindsay

Paula Smith

Company Secretary

Paula Smith

ASX Code:

VAL

Ordinary Shares:

1,920,848,085

Options:

400,000,000 listed options

($0.015, expiring 31/12/2021)

BERENGUELA ACQUISITION AGREEMENT EXTENSION

Valor Resources Limited (Valor) (the Company) (ASX: VAL) provides the following update regarding the terms of the share sale and purchase agreement dated 11 February 2017 between Valor and SSR Mining Limited (SSR) (Acquisition Agreements).

As announced on 5 February 2020 and 11 February 2020, SSR agreed to an amendment of the Acquisition Agreements to extend the payment date for the next cash instalment of USD $1.8m from 11 February 2020 to 29 February 2020 whilst documentation was prepared for SSR to accept a transfer of the Shares in the entities which hold the Berenguela Project from Valor to SSR (or Nominee) on terms where the consideration for the transfer is the discharge of Valor's obligations under the Share Sale and Purchase Agreement including the outstanding debt of USD $10.8m and relevant security interests. This documentation is not yet complete and accordingly SSR has agreed to a further extension of the payment date to 30 March 2020.

Further details will be communicated to shareholders as documentation is completed.

This announcement has been authorised for release by the Board of Directors. For further information, please contact:

Dr Nicholas Lindsay, CEO

Email:[e-mail]

Phone: + 61 8 9200 3467

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