Mr. Glenn Mullan reports

VAL-D'OR MINING EXPLORATION UPDATE - PERESTROIKA PROSPECT ELDORADO OPTION

Val-d'Or Mining Corp. has provided an update on the continuing diamond drilling program on the Perestroika prospect. The property is in Courville township, Quebec, located approximately 40 kilometres northeast of Val d'Or, Que.

The Perestroika property is under option to Eldorado Gold (Quebec) Inc., which may earn a 70-per-cent interest in each of the Murdoch Creek, Claw Lake, Cook Lake and Perestroika properties, on the terms detailed below.

2026 diamond drill program update

The 2026 diamond drilling program was budgeted at $1.37-million (U.S.), to include 20 planned diamond drill holes totalling approximately 8,000 metres, utilizing two diamond drill rigs. As of March 30, Eldorado reported 18 drill holes have been completed for a total of 10,287 metres drilled. At the time of reporting, two additional drill holes are in progress on the property.

Eldorado is the project operator. A summary of the diamond drill program will be provided once drilling has been completed. Core logging and sampling of the earlier drilled holes are continuing. The analytical results will be reported as they are received.

For details of the 2026 diamond drill program outline and objectives, the reader is referred to the company's Feb. 19, 2026, news release.

Eldorado option agreements

The company, Eldorado and Golden Valley Mines & Royalties Inc., as it then was, entered into an assignment agreement dated Jan. 25, 2023, pursuant to which Golden Valley assigned to the company all its rights and obligations under an option agreement dated Oct. 8, 2021, between Golden Valley and Eldorado. As the assignee under the option agreement, the company has granted to Eldorado an option to acquire an additional 40-per-cent interest in the properties subject to the option agreement, one of which is the Perestroika property in Quebec. The company currently holds a 70-per-cent interest in the properties, and Eldorado currently holds a 30-per-cent interest in the properties.

To maintain and to exercise the option, Eldorado must incur minimum expenditures of $10.5-million on or before the fifth anniversary of the date of the conditions precedent under the option agreement being satisfied as well as comply with its obligations under the terms of the option agreement to keep the properties in good standing. Prior to exercising the option, Eldorado will make an annual payment to the company of $50,000 per year. Upon the exercise of the option by Eldorado, it and the company will enter into a joint venture agreement on the terms set out in the option agreement.

Glenn J. Mullan, PGeo, president and chief executive officer of Val-d'Or Mining, is the qualified person (as that term is defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects) who has reviewed this news release and is responsible for the technical information reported herein.

About Val-d'Or Mining Corp.

Val-d'Or Mining is a junior natural resource issuer involved in the process of acquiring and exploring its diverse mineral property assets, most of which are situated in the Abitibi greenstone belt of Northeastern Ontario and northwestern Quebec. To complement its current property interests, the company regularly evaluates new opportunities for staking and/or acquisitions. Outside of its principal regional focus in the Abitibi greenstone belt, the company holds several other properties in Northern Quebec (Nunavik) covering different geological environments and commodities (nickel/copper/platinum group elements).

The company has expertise in the identification and generation of new projects and in early-stage exploration. The mineral commodities of interest are broad and range from gold, copper-zinc-silver, nickel/copper/PGEs to industrial and energy minerals. After the initial value creation in the 100-per-cent-owned or majority-owned properties, the company seeks option/joint venture partners with technical expertise and financial capacity to conduct more advanced exploration projects.

We seek Safe Harbor.