Valhalla Metals Provides an Update on Alaska Governor Dunleavy's Transition Report Submitted to the Trump Transition HQ Prioritizing the Ambler Access Road

Rhea-AI Summary

Valhalla Metals (TSXV: VMXX) (OTCQB: VMXXF) provides an update regarding the Ambler Mining District Access Road project. On December 16, 2024, Alaska Governor Mike Dunleavy submitted a report to the Trump Transition team titled 'Alaska Priorities for Federal Transition', highlighting the need to reverse Biden administration's sanctions on Alaska's resource development. The report prioritizes rescinding the Biden Administration's 'No Action Alternative' ROD on the Ambler Access Road, which is considered a violation of ANILCA.

The proposed road would cross Valhalla's Sun project mining claims and is important for accessing critical metals needed for green energy transition. According to Chairman Rick Van Nieuwenhuyse, the Department of Interior's BLM decision contradicts ANILCA's 1980 mandate to grant right-of-way access connecting the Ambler Mining District with the Dalton Highway corridor.

Positive

• Potential access road would unlock critical metals necessary for green energy transition
• Alaska Governor's support for rescinding Biden's 'No Action Alternative' decision
• Project has legal backing under ANILCA for right-of-way access

Negative

• Current federal restrictions blocking project development
• Extended permitting process lasting over 10 years
• Uncertainty around political transition impact on project approval

Vancouver, British Columbia--(Newsfile Corp. - December 19, 2024) - Valhalla Metals Inc. (TSXV: VMXX) (OTCQB: VMXXF) ("Valhalla" or the "Company") provides an update on the Ambler Mining District Access Road.

The proposed Ambler Access Road is planned to cross Valhalla State mining claims at the Sun project and would unlock a host of critical and strategic metals located in the Ambler Mining District - all metals necessary for the green energy and transportation transition and to ensure a secure domestic supply chains for these metals.

On December 16, 2024, Governor Mike Dunleavy submitted a report to the Trump Transition team in Washington D.C. titled "Alaska Priorities for Federal Transition". The report details both immediate and long-term actions that can be taken to reverse the devastating impact of more than 60 sanctions the Biden administration imposed on Alaska, and how unlocking Alaska's minerals, oil and natural gas, and other natural resources will benefit both the state and national economy. Priority #1 is described as ""Get Back to Where We Were" and specific to the Ambler Access Road, urges the President-elect to "…rescind the unlawful Biden Administration ROD and issue a new decision restoring the right-of-way permits previously granted to the State" as the Biden Administration's 2024 No Action Alternative ROD is a direct violation of ANILCA.

In the transition cover letter, Governor Dunleavy tells President-elect Trump, "Your election will hail in a new era of optimism and opportunity, and Alaska stands ready to and is eager to work with you to repair this damage wrought by the previous administration, and to set both Alaska and America on a course to prosperity."

Rick Van Nieuwenhuyse, Chairman of Valhalla said: "It is well known in Alaska that the Biden administration broke the law when the Department of Interior's Bureau of Land Management (BLM) selected the "No Action Alternative" in their Supplemental EIS Record of Decision issued earlier this year. The Alaska National Interest Land Conservation Act (ANILCA) passed in 1980 is very clear that the Secretary of Interior shall grant a right-of-way across Federal lands to connect the Ambler Mining District with the Dalton Highway corridor. It has now been more than ten years of "official" permitting process since the formal application was made. It is high time the Federal Government does what it promised 45 years ago. Let Alaska develop its resources for the benefit of all Alaskans and all Americans."

For more details, the full report can be found here: https://gov.alaska.gov/dunleavy-administration-submits-transition-report-to-trump-transition-hq/.

About Valhalla Metals

Valhalla Metals Inc. is a mineral exploration and development company focused on the advancement of its mineral projects towards feasibility. Valhalla's flagship project is the Sun copper-zinc-lead-gold-silver VMS projects located in Ambler Mining District, Northwest Alaska. The Company also owns the Smucker project, a high-quality copper-zinc-lead-gold-silver VMS project located in the Ambler Mining District, Northwest Alaska. Valhalla Metals Inc. shares trade on the TSX-V under the ticker symbol VMXX and OTCQB under the ticker symbol VMXXF. For more information about Valhalla, please visit our website at www.valhallametals.com.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

For more information on the Company, please contact Valhalla Metals Inc.

Sorin Posescu, Chief Executive Officer
Email: invest@valhallametals.com

Forward-Looking Statements:

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plan", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based, are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; and the additional risks identified in the annual information form of the Company or other reports and filings with the TSX-V and applicable Canadian securities regulators. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements included in this news release are expressly qualified by this cautionary statement. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234445

FAQ

What is the status of Valhalla Metals' (VMXXF) Ambler Access Road project as of December 2024?

The project is currently blocked by Biden Administration's 'No Action Alternative' ROD, but Alaska Governor has submitted a transition report to Trump team requesting to rescind this decision and restore previously granted right-of-way permits.

How would the Ambler Access Road benefit Valhalla Metals (VMXXF)?

The road would cross Valhalla's Sun project mining claims and unlock access to critical and strategic metals in the Ambler Mining District, essential for green energy transition and domestic supply chains.

What legal basis supports Valhalla Metals' (VMXXF) Ambler Access Road development?

The Alaska National Interest Land Conservation Act (ANILCA) of 1980 mandates that the Secretary of Interior shall grant a right-of-way across Federal lands to connect the Ambler Mining District with the Dalton Highway corridor.

How long has Valhalla Metals' (VMXXF) Ambler Access Road been in the permitting process?

The project has been in the official permitting process for more than ten years since the formal application was made.