Valor Resources : Berenguela Drilling Commenced & Share Sale Facility Update.pdf

ASX Release

4 June 2019

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:

1,893,192,258

Options:

86,333,333 ($0.045 - 04/12/2019)

400,000,000 ($0.015 - 31/12/2021)

BERENGUELA DRILLING COMMENCED &

SHARE SALE FACILITY UPDATE

The Board of Valor Resources Limited (ASX: VAL) (Valor) is pleased to announce that drilling has commenced at Berenguela copper-silver project in south-eastern Peru:

• To expand the lateral and depth extents of the copper mineral system
• 3000 metres diamond drilling planned in 6 to 8 holes at Berenguela Central

In accordance with the agreement signed with Kennecott Exploration ("KEX") part of the Rio Tinto group, announced to the ASX on 14 January 2019, to partner with Valor Resources Limited to explore the full extent of the Berenguela copper-silver project, drilling has commenced. The initial program is planned to comprise of 3000 metres diamond drilling in 6 to 8 holes, which will be accompanied by downhole geophysics.

In addition to the drilling, geophysics will be extended to cover a greater extent of the Berenguela tenements than previously conducted, targeting both lateral extensions of existing targets and new prospects.

Dr Nicholas Lindsay, Executive Director commented:

"This is an exciting development for the Company to have full access to the resources of a major exploration company, targeting the full extent of the Berenguela copper mineral system. Commencement of drilling has been keenly anticipated following a period of comprehensive preparation, and we are looking forward to positive results."

Unmarketable Parcel Share Sale Facility Completed

Further to Valor's announcements dated 2 April 2019 and 15 May 2019, the Company confirms that the share sale facility for holders of fully paid ordinary shares (Shares) valued at less than $500 (Facility) has been completed. The final number of Shares sold under the Facility was 59,262,171 from 850 shareholders. The sale price of the Shares under the Facility was $0.0043 and sale proceeds will be paid in Australian Dollars by direct credit to the relevant recipients shortly by Automic Registry. Non-resident holders or those holders who have not provided their direct credit details will be paid in Australian dollars by cheque.