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PROJECTS / SUN

Sun Project

A high-grade Cu-Zn-Pb-Au-Ag VMS project with a 43-101 resource, 392 state mining claims across 62,720 acres in the Ambler Mining District.

1.7Mmt @ 4.2%

Indicated resource · CuEq

9.0Mmt @ 4.2%

Inferred resource · CuEq

100 DDH

Drill holes completed

20,227m

Meters drilled to date

Project Snapshot

Location	Ambler Mining District, Alaska, U.S.A.
Property	Resource stage, Cu-Zn-Pb-Au-Ag VMS project
Land Package	392 state mining claims, 62,720 acres adjacent to Ambler Metals
Access	Fixed wing aircraft; approved Ambler Road to cross Valhalla claims near the existing airstrip
Infrastructure	Airstrip, new 24-person camp (2023)
Geophysics	2019 airborne VTEM survey; 2021–2022 reprocessing and conductive plate modeling

Sun 43-101 Mineral Resource

EFFECTIVE OCTOBER 1, 2021 · $75 GMV CUTOFF

CLICK HERE TO VIEW
SUN NI 43-101 TECHNICAL REPORT

INDICATED

1.71 Mt

INFERRED

9.02 Mt

ZINC4.32 / 4.18 %

COPPER1.48 / 1.21 %

LEAD1.11 / 1.46 %

SILVER60 / 81.7 g/t

GOLD0.21 / 0.25 g/t

Contained metal (Ind + Inf): 994 Mlbs Zn · 295 Mlbs Cu · 332 Mlbs Pb · 27.0 Moz Ag · 85 koz Au. Drilled to <200 m depth; open along strike and down-dip.

The Grade

Historic High-Grade Intercepts¹

Hole	From (m)	To (m)	Length (m)	CuEq %	Cu %	Pb %	Zn %	Au g/t	Ag g/t
Sun11-24	67.5	86	18.5	6.24	1.49	3.13	9.34	0.22	78
Sun-21	38.4	47.55	9.15	6.89	0.54	4.14	8.89	1.16	336.33
Sun07-22	166	177.5	11.5	5.32	1.37	2.05	7.75	0.3	93.88
Sun-32	22.56	29.35	6.79	6.83	0.51	3.55	7.85	0.62	554.58
Sun-1	13.72	19.81	6.09	8.86	3.68	1.22	9.67	0.00	342.39
Sun12-33	82.3	89.3	7	7.04	2.15	3.08	8.76	0.46	142.72
Hot-7	52.73	59.13	6.4	6.57	2.64	2.32	6.4	0.41	184.04
Sun07-20	151.28	157.96	6.68	6.55	1.36	2.17	11.14	0.25	89.61

Six Decades of Discovery

Exploration History

1966–86

Bear Creek (Kennecott)

Picnic Creek discovery: geochemistry, mapping, geophysics, trenching, drilling

1974

Sunshine Mining Co

Main Sun discovery: geochemistry, mapping, IP, drilling

1975–84

Ambler Mining Co

SW Sun discovery: geologic mapping, geochemistry, geophysics, drilling

1975–85

Noranda

Geologic mapping, drilling

1976–83

Sunshine Mining Co

Geologic mapping, trenching, soil sampling

ANILCA Passed
(1980)

1985–86

Cominco

Drill core re-logging, geochemistry, drilling

2007–14

Andover

Core re-logging, mapping, drilling, 43-101 resource estimate

2017–22

Valhalla Metals

Airborne EM + magnetics (VTEM), geochemistry, resource estimate

2023

Valhalla Metals

New 24-person camp; 4 holes / 1,104 m; 6 historic holes relogged

Latest Program

2023 Drilling Highlights

Four holes for 1,104 meters focused on expanding known mineralization at the Sun Deposit, plus relogging of six historic holes (1,416 m), LiDAR/orthophoto coverage and a ground gravity survey from the new 24-person camp.

Hole	From (m)	To (m)	Length (m)	CuEq %	Cu %	Pb %	Zn %	Au g/t	Ag g/t
Sun23-01	175.58	189.32	13.7	3.07	1.24	0.92	3.45	0.16	55.79
Sun23-03	218.21	222.34	4.13	5.71	1.02	2.15	9.92	0.25	77.19
Sun23-03	125.31	177.69	52.4	3.30	0.82	1.47	4.89	0.14	49.62
including	125.31	146.69	21.4	6.84	1.31	3.23	11.03	0.24	108.31
Sun23-04	225.82	239.68	13.86	3.44	1.66	0.98	3.03	0.22	72.23

2023 DRILLING · PLAN VIEW · HISTORIC AND 2023 COLLARS OVER USGS TOPOGRAPHY (NAD83 / UTM 5N)

*CuEq calculated using: copper $3.00/lb, lead $1.00/lb, zinc $1.10/lb, silver $20/oz, gold $1,700/oz. Historical drill results and resource estimates predate NI 43-101 verification by a Qualified Person; see the Corporate Presentation cautionary notes. Source: Valhalla Metals Corporate Presentation, September 2026.

The Upside

Untested Potential

The Sun 43-101 resource has been drilled to less than 200 m depth. First-pass VTEM modeling shows a possible down-dip extension of more than 900 vertical meters, none of which has been drill-tested.

Main Sun

Open along strike and down-dip; never tested beyond 200 m depth

Western Anomaly

VTEM conductor coincident with a surface geochemical anomaly

Strike Extensions

Untested conductor plates along the mineralized horizon

Down-Dip Plates

Modeled conductance panels below the known resource

2022 AIRBORNE VTEM · MODELLED CONDUCTOR PLATES COLOURED BY ELECTRICAL CONDUCTANCE, PLAN VIEW

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