Valhalla Metals commences 2026 drill program at Sun Project

Vancouver, British Columbia--(Newsfile Corp. - July 13, 2026) - Valhalla Metals Inc. (TSXV: VMXX) (OTCQB: VMXXF) (" Valhalla " or the " Company ") is pleased to announce the start of the 2026 exploration program at its Sun project located in the World Class Ambler Mining District, Northwest 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% copper equivalent (CuEq*), within a broader interval of 52.4 metres grading 3.30% CuEq*. Highlights of the 2026 Program include: Fully funded program with the objective of advancing the Company's flagship Sun project Resource expansion drilling designed to test for down-dip and along-strike extensions of known mineralization at the Main Sun and SW Sun copper-zinc-silver-lead-gold volcanogenic massive-sulfide deposits Reconnaissance work at the newly acquired Smucker project (see news release dated June 1, 2026) Valhalla is working with AIDEA and their 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-one jurisdiction, and our work here directly supports the urgent demand for domestic energy and defense 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 13.7m of 3.07% CuEq* (1.24% Cu, 0.92% Pb, 3.45% Zn, 0.16 g/t Au, and 55.79 g/t Ag); Sun 23-02 intersected 14.6m of 1.91% CuEq* including 10.8m of 2.2% CuEq (0.69% Cu, 0.73% Pb, 2.88% Zn, 0.12 g/t Au, and 53.77 g/t Ag); Sun23-03 intersected 13.8m of 3.44% CuEq* including 8.7m of 4% CuEq (1.89% Cu, 1.23% Pb, 3.35% Zn, 0.29 g/t Au, and 94.36 g.t Ag); Sun 23-04 intersected 21.4m of 6.84% CuEq* (1.31% Cu, 3.23% Pb, 11.03% Zn, 0.24 g/t Au, and 108.31 g/t Ag) within a larger interval of 52.4m of 3.3% CuEq*.

FIGURE 1: Plan view map showing historic drilling, relogged drill holes, and 2023 assay results. To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/4890/304830_968d7d0424dd2bd5_001full.jpg FIGURE 2: Cross section through Sun23-002, Sun23-003, and Sun23-004 with generalized geology and assays. To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/4890/304830_968d7d0424dd2bd5_002full.jpg TABLE 1.

Select Mineralized intervals from the 2023 Sun Project Drilling. To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/4890/304830_968d7d0424dd2bd5_003full.jpg * CuEq = (((Cu%) x $Cu x 22.0462)*0.91 + ((Pb%) x $Pb x 22.0462)*0.8 + ((Zn%) x $Zn x 22.0462)*0.91 + (Au(g/t)/$Au*31.1034768)*0.59 + (Ag(g/t)/$Ag*31.1034768)*0.35))/($Cu*22.0462); Commodity prices: $Cu = US$3.00/lb., $Pb = US$1.00/lb; $Zn = US$1.10/lb; $Au = US$1,700/oz., and Ag = US$20.00/oz.; Recoveries assumed to be 91% Cu, 80% Pb, 91% Zn, 59% Au, 35% Ag and were multiplied for each respective metal. Recoveries are based on the technical report titled "Technical Report on the Sun Project, Brooks Range, Alaska, USA filed on Sedar by the Company on May 18, 2022 and modelled after the recoveries of the neighboring Arctic VMS deposit Feasibility Study; Factors: 22.0462 = Cu% to lbs. per %, 31.1034768 = Au g/t to g per troy oz, and 31.1034768 = Ag g/t to g per troy oz.