Valhalla Metals Inc. · TSXV:VMXX
Valhalla Metals — Investor Presentation (September 2026)
26 slides from Valhalla Metals's investor presentation, September 2026
Slide 1: World Class Ambler Mining District
METALS World Class Ambler Mining District Sun VMS Project | Smucker VMS Project Alaska, USA TSXV: VMXX OTCQB: VMXXF September 2026
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS Information set forth in this presentation involves forward-looking statements, including but not limited to comments regarding timeline, predictions and projections within the meaning of applicable Canadian and US securities legislation. Forward-looking statements are sta
Slide 3: Forward Looking Statements – Cautionary Notes on Historical Estimates
FORWARD LOOKING STATEMENTS CAUTIONARY NOTE REGARDING HISTORICAL ESTIMATES OF MINERAL RESOURCES AND HISTORICAL DRILLING RESULTS AT THE SMUCKER PROPERTY The reader is cautioned that the referenced “historical mineral resource” estimate is considered historical in nature and as such is based on prior d
Slide 4: See Page 1 and 2 Cautionary Notes regarding estimates of mineral resources and
1See Page 1 and 2 Cautionary Notes regarding estimates of mineral resources and transaction with Teck. 4
Slide 5: See Page 1 and 2 Cautionary Notes regarding estimates of mineral resources and
1See Page 1 and 2 Cautionary Notes regarding estimates of mineral resources and transaction with Teck. 5
Slide 6: TSX Venture: VMXX Share Price and Market Capitalization
TSX Venture: VMXX Retail 20% Teck 31% Marubeni 19.9% 13% Management & Board 36% Share Price (August 7, 2026) C$0.70 Market Capitalization C$106M Common Shares Outstanding 151,140,901 Options at $0.50 and $0.60 6,771,000 RSUs 1,208,000 Management & Board 36% Teck 31% Marubeni 13% Retail 20% 1See Page
Slide 7: See Page 1 and 2 Cautionary Notes regarding estimates of mineral resources.
1See Page 1 and 2 Cautionary Notes regarding estimates of mineral resources. 7
Slide 8: Management and Board
RICK VAN NIEUWENHUYSE | Chairman & Director SORIN POSESCU | President, CEO & Director • President & CEO of Contango Ore, developing the Manh Choh project with Kinross Gold and the Tetlin Alaska Native Tribe MIHAI DRAGULEASA | CFO & Corporate Secretary • Founder of NovaGold, currently permitting the
Slide 9: Ranked a Top Tier Mining Jurisdiction
✓ Ranked a Top Tier Mining Jurisdiction Fraser Institute 2021 Annual Survey of Mining Companies: ▪ Ranked 2th worldwide for Best Practices Mineral Potential Index ▪ Ranked 9th worldwide for Taxation Regime Proposed AMDIAP route ▪ Ranked 1st worldwide for Security ▪ Ranked 4th worldwide for Investmen
Slide 10: World Class Mining District
▪ World Class Mining District ▪ Multi-Billion Pounds of Copper and Zinc – metals critical to a carbon-free future ▪ Host of multiple High-Grade Copper, Zinc, Lead, Gold & Silver Deposits ▪ Recent Significant Investments from South32, Marubeni and Teck Deposit Name Category MT Cu (%) Zn (% ) Pb (%) A
Slide 11: Ambler Access Project
AMBLER ACCESS PROJECT' AMBLER MINING DISTRICT INDUSTRIAL ACCESS PROJECT lo Minng Dist AMDIAP Proferec\Conir (211 Nien) —— Existing Roast (© FroposectargeEridgt [HE] Guresuot Lana Management(Feseral and) (NI ANCSA Native Corporation Lan) (EEE) State Land Naser ner! Lepoat -ANIA*ARematve Lomaor (228 M
Slide 12: Sun Deposit
SUN DEPOSIT ▪ Current Sun camp is accessible only via small fixed wing aircraft ▪ AIDEA is evaluating placement of larger strip near Sun Camp Ambler ▪ Approved Ambler Road will cross Valhalla State mining claims just north of the existing airstrip, eliminating the need for costly air-only logistical
Slide 13: Sun Project
SUN PROJECT \WALHALLA aw VA
Slide 14: Location and Property Land Package
Location Located in the Ambler Mining District – Alaska, U.S.A. Property Resource stage, Cu-Zn-Pb-Au-Ag VMS project 392 state mining claims, 62,720 acres adjacent to Land Package Ambler Metals Access Fixed Wing Aircraft Infrastructure Airstrip, Camp Historic Work Drilling, Resource Estimate, Geophys
Slide 15: Sun Mineral Resource Classification
Classification Tonnes Zinc Copper Lead Silver Gold Zinc Copper Lead Silver Gold % % % g/t g/t lbs x 1000 lbs x 1000 lbs x 1000 oz oz Indicated 1,713,000 4.32 1.48 1.11 60 0.21 162,962 55,846 42,035 3,307,000 12,000 Inferred 9,018,000 4.18 1.21 1.46 81.7 0.25 831,334 239,643 290,258 23,681,000 73,000
Slide 16: Resource Extent
NW SE ~200 vertical meters Resource Extent: Photo from Andover Mining, 2012 Note 1:See Page 1 and 2 for Cautionary Notes regarding historic drilling results and Data Sources 16
Slide 17: Built a brand new 24-man camp
▪ Built a brand new 24-man camp ▪ LiDAR and orthophoto ▪ Ground Gravity survey ▪ Drilling of four holes for 1,104 meters ▪ Relogging of six historic drill holes for 1,416 meters 17
Slide 18: Plan view map showing historic and 2023 drillholes
Plan view map showing historic and 2023 drillholes ❖ Drilling focused on expanding the known mineralization at the Sun Deposit Hole From (m) To (m) Length (m) CuEq% Cu% Pb% Zn% Au g/t Ag g/t 175.58 189.32 13.7 3.07 1.24 0.92 3.45 0.16 55.79 including Sun23-01 178.92 189.32 10.4 3.11 1.27 1.03 3.36 0
Slide 19: 2023 Sun Project Exploration Program
2023 SUN PROJECT EXPLORATION PROGRAM Cross Section Geology and Assay Results Cu_Best_p& -002 $un23-003_______pmaiserete sun23-004 "fl .63% Cu, 2.4% Zn, 0.61% <p 25000 —sunt2st : Sarg I on _ | 21.4m of 6.84% CuEq: ij 1.31% Cu, 11.03% Zn, 3.23% Pb 5000 2500 Overburden: 4% CuEq: Metamorphosed 9, % Dp M
Slide 20: Sun 43-101 Resource Drilled to <200m depth
❖ First pass review of VTEM survey provided preliminary modeling of anomalies at Main Sun and Anomaly C ❖ Main Sun (A) open along strike and down-dip and never tested beyond Sun 43-101 Resource Drilled to <200m depth 200m depth ❖ Anomaly (C) – possible recumbent fold SE X-Section Looking SW A NW lim
Slide 21: Sun – 43-101 Mineral Resource
❖ Main Sun (A) open along strike and down-dip and never tested beyond 200m depth ❖ Western Anomaly (B) - coincident surface geochemical anomaly ❖ 2.5km diameter near surface conductor ❖ Same volcanic-sediment package that hosts Sun – 43-101 Mineral Resource other VMS deposits at Sun and in the distr
Slide 22: Smucker Project
SMUCKER PROJECT VALHALLA aw Vo
Slide 23: Location and Property Land Package
Location Located in the Ambler Mining District – Alaska, U.S.A. Property Resource stage1, Cu-Zn-Pb-Au-Ag VMS project Land Package 160 state mining claims, 21,600 acres History It was first discovered in 1975 by Anaconda. Extensive exploration work was undertaken between 1978 and 1991, with 24 holes
Slide 24: Anaconda Minerals Company historic resource estimate 1981
Anaconda Minerals Company historic resource estimate 1981 1: The reader is cautioned that the referenced “historical mineral resource” estimate is considered historical in nature and as such is based on prior data and reports prepared by previous property owners. A QP has not done sufficient work to
Slide 25: Multi-asset Cu-Zn-Pb-Ag-Au VMS opportunities
✓ Multi-asset Cu-Zn-Pb-Ag-Au VMS opportunities ✓ Near-term opportunity to expand the known mineralization and test new prospects ✓ Investment and support from a Tier 1 mining and copper smelting companies – Teck and Marubeni ✓ Located in a safe Tier 1 mining jurisdiction – Alaska, USA ✓ Strong suppo
Slide 26: Thank You
Thank You Email: invest@valhallametals.com www.valhallametals.com 26
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