Mr. Sorin Posescu reports

VALHALLA METALS COMMENCES 2026 DRILL PROGRAM AT THE SUN PROJECT

Valhalla Metals Inc. has started the 2026 exploration program at its Sun project located in the world-class Ambler mining district, northwestern Alaska.

The 2026 exploration program is primarily designed to follow up on the successful drilling completed at the Sun project in 2023, which confirmed the continuity of high-grade copper-zinc-lead-gold-silver mineralization beyond the limits of the current resource model and returned significant intercepts, including 21.4 metres grading 6.84 per cent copper equivalent, within a broader interval of 52.4 metres grading 3.30 per cent CuEq.

Highlights of the 2026 program include:

• Fully financed program with the objective of advancing the company's flagship Sun project;
• Resource expansion drilling designed to test for downdip and along-strike extensions of known mineralization at the Main Sun and SW Sun copper-zinc-silver-lead-gold volcanogenic massive sulphide deposits;
• Reconnaissance work at the newly acquired Smucker project (see news release dated June 1, 2026);
• Valhalla is working with Aidea and its contractors on advancing engineering- and infrastructure-related activities related to the Ambler Road project.

Rick Van Nieuwenhuyse, chairman, said: "Resuming drilling at the Sun project comes at a pivotal time, and we are thrilled to see the drill rig turning again. There is incredible momentum building across the Ambler mining district and throughout Alaska driven by a national mandate to secure critical metals. Alaska is a premier Tier 1 jurisdiction, and our work here directly supports the urgent demand for domestic energy and defence supply chains. Meanwhile, we will continue to advance our newly acquired Smucker deposit and ready the project for drilling during the 2027 field season."

Drilling highlights from the 2023 exploration program at the Sun project:

• Sun23-01 intersected 13.7 metres of 3.07 per cent CuEq (1.24 per cent copper, 0.92 per cent lead, 3.45 per cent zinc, 0.16 gram per tonne gold and 55.79 g/t silver).
• Sun 23-02 intersected 14.6 m of 1.91 per cent CuEq including 10.8 m of 2.2 per cent CuEq (0.69 per cent Cu, 0.73 per cent Pb, 2.88 per cent Zn, 0.12 g/t Au and 53.77 g/t Ag).
• Sun23-03 intersected 13.8 m of 3.44 per cent CuEq including 8.7 m of 4 per cent CuEq (1.89 per cent Cu, 1.23 per cent Pb, 3.35 per cent Zn, 0.29 g/t Au and 94.36 g/t Ag).
• Sun 23-04 intersected 21.4 m of 6.84 per cent CuEq (1.31 per cent Cu, 3.23 per cent Pb, 11.03 per cent Zn, 0.24 g/t Au and 108.31 g/t Ag) within a larger interval of 52.4 m of 3.3 per cent CuEq.

About Valhalla Metals Inc.

Valhalla is a mineral exploration and development company advancing high-grade copper-zinc-lead-gold-silver volcanogenic massive sulphide 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.

Qualified person

Bonnie Broman, CPG, vice-president, exploration, for Valhalla, is a qualified person as defined under National Instrument 43-101 standards, and has reviewed and approved this news release.

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