The TSX Venture Exchange has accepted for filing a purchase and sale agreement dated April 20, 2026, among Valhalla Metals Inc., Valhalla Metals AK Inc. and Teck American Inc. Pursuant to the agreement, the company has acquired a 100-per-cent interest in the Smucker property, located in the Ambler mining district of Alaska.

As consideration, the company has issued 44,813,642 common shares to Teck Resources Ltd., an affiliate of the vendor, at the vendor's direction. The company also granted the vendor a 2.0-per-cent net smelter return (NSR) royalty on certain portions of the property. Furthermore, the company will assume all existing historical royalty obligations related to the property.

The transaction is arm's length in nature and no finders' fees are payable.

For further information, please refer to the company's initial news releases dated April 21, 2026, and June 1, 2026.