Valhalla Metals to Acquire Smucker Property from Teck to Consolidate and Advance Two Critical Mineral Projects in the Ambler Mining District

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Vancouver, British Columbia--(Newsfile Corp. - April 21, 2026) - Valhalla Metals Inc. (TSXV: VMXX) (OTCQB: VMXXF) ("Valhalla" or the "Company") is pleased to announce that it has entered into a Purchase and Sale Agreement dated April 20, 2026 (the "PSA") with Teck American Incorporated, a subsidiary of Teck Resources Limited ("Teck"), whereby Teck has agreed to vend 100% of Teck's copper-gold-silver-zinc Smucker Project located in the Ambler Mining District in Alaska (the "Project") into Valhalla Metals AK Inc., a subsidiary of Valhalla (the "Transaction"). By consolidating Teck's Smucker Project with Valhalla's nearby copper-gold-silver-zinc Sun Project, with Teck as the largest shareholder, the Transaction provides a path to advance two deposits with the combined potential to contribute to the critical mass necessary to bolster the economic justification for the proposed Ambler Access Project (AAP). With these assets, Valhalla expects to move beyond exploration to support the infrastructure requirements of a major critical metal district in the United States. Under the terms of the PSA, Teck has agreed to convey its interest in the Project to Valhalla for consideration that includes: 44,813,642 Valhalla Shares (as defined below) representing 35% of the issued and outstanding Valhalla Shares; a priority purchase right and right of last offer to Teck on the purchase of any concentrate produced from the Sun and Smucker properties on customary commercial terms; and a 2.0% net smelter returns royalty on certain parts of the Project. Rick Van Nieuwenhuyse, Chairman of Valhalla stated, "This transaction is a transformative milestone for Valhalla, effectively providing the Company with the scale to contribute meaningfully to the development of the Ambler Mining District. By combining these two projects, we see the potential to move quickly to materially support the economic use case for the proposed Ambler Access Project, which, we believe, is key to unlocking this prospective critical-metals district. We are very pleased to welcome Teck as a key partner - Teck brings a long and successful operating history in Alaska, and we look forward to working together to develop these important projects towards providing new secure, domestic sources of critical minerals for the United States." Stuart McCracken, Vice President, Exploration, Teck, said, "By combining our as...

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