Mr. Sorin Posescu reports

VALHALLA ENGAGES INDEPENDENT TRADING GROUP FOR AUTOMATED MARKET MAKING SERVICES

Valhalla Metals Inc., subject to regulatory approval, has engaged the services of Independent Trading Group (ITG) Inc. to provide automated market-making services, in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable legislation.

Under the agreement, ITG will receive compensation of $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. The agreement may be terminated by either party with 30 days of notice. There are no performance factors contained in the agreement and ITG will not receive shares or options as compensation.

ITG will trade shares of the company on the TSX-V and all other trading venues with the objective of maintaining a reasonable market and improving the liquidity of the company's common shares. ITG will be responsible for the costs it incurs in buying and selling the company's common shares, and no third party will be providing funds or securities for the market-making activities.

ITG and the company are unrelated and unaffiliated entities, and at the time of the agreement, neither ITG nor its principals have an interest, directly or indirectly, in the securities of the company. ITG and its clients may acquire an interest in the securities of the company in the future.

The agreement remains subject to the approval of the TSX-V.

About Independent Trading Group (ITG) Inc.

ITG is a Toronto-based CIRO dealer-member that specializes in market making, liquidity provision, agency execution, ultralow-latency connectivity and bespoke algorithmic trading solutions. Established in 1992, with a focus on market structure, execution and trading, ITG has leveraged its own proprietary technology to deliver high-quality liquidity provision and execution services to a broad array of public issuers and institutional investors.

About Valhalla Metals Inc.

Valhalla Metals is a mineral exploration and development company advancing high-grade copper-zinc-lead-gold-silver volcanogenic massive sulphide (VMS) projects in Alaska's Ambler mining district, one of the world's premier undeveloped polymetallic mineral belts. The company owns the Sun and Smucker projects, which host substantial mineralized systems and significant exploration potential. Valhalla is focused on creating shareholder value through disciplined exploration, resource expansion, technical advancement and responsible project development. Valhalla Metals' common shares trade on the TSX Venture Exchange and OTCQB under the symbols VMXX and VMXXF, respectively.

We seek Safe Harbor.