Annonce • Apr 23
Xpedra Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 3.185 million. Xpedra Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 3.185 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 93,888,000
Price\Range: AUD 0.02
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 65,362,000
Price\Range: AUD 0.02
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing New Risk • Mar 24
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.1m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 41% per year over the past 5 years. Shareholders have been substantially diluted in the past year (58% increase in shares outstanding). Revenue is less than US$1m (AU$312k revenue, or US$219k). Market cap is less than US$10m (AU$12.1m market cap, or US$8.48m). New Risk • Mar 17
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$2.1m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.1m free cash flow). Earnings have declined by 41% per year over the past 5 years. Shareholders have been substantially diluted in the past year (58% increase in shares outstanding). Revenue is less than US$1m (AU$302k revenue, or US$214k). Minor Risks Share price has been volatile over the past 3 months (17% average weekly change). Market cap is less than US$100m (AU$15.0m market cap, or US$10.6m). Annonce • Feb 16
Powerhaus Uranium Limited entered into an agreement to acquire Hidden Bay Uranium Project from Xpedra Resources Limited (ASX:XPD) for AUD 0.29 million. Powerhaus Uranium Limited entered into an agreement to acquire Hidden Bay Uranium Project from Xpedra Resources Limited (ASX:XPD) for AUD 0.29 million on February 16, 2026. The consideration for the project being acquired consists of AUD 0.05 million in cash and the issuance of 1.2 million shares in the capital of Powerhaus, at a deemed issue price of AUD 0.20. Additionally, Powerhaus will grant Xpedra a 2.0% royalty on the sale on any uranium products from the Hidden Bay Project.
The transaction is subject to consummation of due diligence investigation, Powerhaus receiving ASX confirmation that it will grant conditional quotation of Powerhaus’ shares on terms acceptable to Powerhaus, and Xpedra receiving shareholder approval for the sale of the Hidden Bay Project in accordance with ASX Listing Rule 11.4. Annonce • Nov 29
Thunderbird Resources Limited (ASX:THB) completed the acquisition of LM2 Pty Ltd. Thunderbird Resources Limited (ASX:THB) entered into binding share sale agreement to acquire LM2 Pty Ltd for AUD 1.4 million on September 22, 2025. A cash consideration of AUD 0.2 million will be paid by Thunderbird Resources Limited. The consideration consists of 28.57 million common equity of Thunderbird Resources Limited to be issued for common equity of LM2 Pty Ltd. Thunderbird Resources Limited will pay an earnout/contingent payment of AUD 0.8 million common equity.
The transaction is subject to approval by regulatory board / committee, approval of offer by acquirer shareholders, consummation of due diligence investigation and consummation of private placement.
Thunderbird Resources Limited (ASX:THB) completed the acquisition of LM2 Pty Ltd on November 27, 2025. New Risk • Oct 11
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 48% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (24% average weekly change). Earnings have declined by 26% per year over the past 5 years. Shareholders have been substantially diluted in the past year (48% increase in shares outstanding). Revenue is less than US$1m (AU$350k revenue, or US$227k). Market cap is less than US$10m (AU$11.5m market cap, or US$7.48m). New Risk • Oct 01
New major risk - Revenue and earnings growth Earnings have declined by 26% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (25% average weekly change). Earnings have declined by 26% per year over the past 5 years. Revenue is less than US$1m (AU$365k revenue, or US$241k). Market cap is less than US$10m (AU$8.18m market cap, or US$5.40m). Minor Risk Shareholders have been diluted in the past year (21% increase in shares outstanding). New Risk • Sep 29
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (24% average weekly change). Revenue is less than US$1m (AU$387k revenue, or US$254k). Market cap is less than US$10m (AU$8.18m market cap, or US$5.38m). Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Shareholders have been diluted in the past year (21% increase in shares outstanding). Annonce • Sep 23
Thunderbird Resources Limited (ASX:THB) entered into binding share sale agreement to acquire LM2 Pty Ltd for AUD 1.4 million. Thunderbird Resources Limited (ASX:THB) entered into binding share sale agreement to acquire LM2 Pty Ltd for AUD 1.4 million on September 22, 2025. A cash consideration of AUD 0.2 million will be paid by Thunderbird Resources Limited. The consideration consists of 28.57 million common equity of Thunderbird Resources Limited to be issued for common equity of LM2 Pty Ltd. Thunderbird Resources Limited will pay an earnout/contingent payment of AUD 0.8 million common equity.
The transaction is subject to approval by regulatory board / committee, approval of offer by acquirer shareholders, consummation of due diligence investigation and consummation of private placement. Annonce • Sep 22
Thunderbird Resources Limited, Annual General Meeting, Nov 19, 2025 Thunderbird Resources Limited, Annual General Meeting, Nov 19, 2025. New Risk • May 06
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$5.1m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Shareholders have been substantially diluted in the past year (99% increase in shares outstanding). Revenue is less than US$1m (AU$387k revenue, or US$250k). Market cap is less than US$10m (AU$3.65m market cap, or US$2.36m). New Risk • Mar 14
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$5.1m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$5.1m free cash flow). Shareholders have been substantially diluted in the past year (99% increase in shares outstanding). Revenue is less than US$1m (AU$399k revenue, or US$250k). Market cap is less than US$10m (AU$4.75m market cap, or US$2.99m). Minor Risk Share price has been volatile over the past 3 months (13% average weekly change). Annonce • Jan 10
Thunderbird Resources Limited Announces Appointment of George Ventouras as Director Thunderbird Resources Limited announced appointment of George Ventouras as director, effective January 9, 2025. Annonce • Nov 13
hunderbird Resources Limited (ASX:THB) agreed to acquire Kookynie Resources Pty. Ltd. for AUD 1.9 million. Thunderbird Resources Limited (ASX:THB) agreed to acquire Kookynie Resources Pty. Ltd. for AUD 1.9 million on November 13, 2024. The consideration consists of 30 million common equity of Thunderbird Resources Limited to be issued for common equity of Kookynie Resources Pty. Ltd. Thunderbird Resources Limited will pay an earnout/contingent payment common equity. As part of consideration, AUD 1.85 million is paid towards common equity of Kookynie Resources Pty. Ltd.
The transaction is subject to approval of offer by acquirer shareholders. MQB Ventures Pty Ltd has been appointed as the representative for the shareholders of Kooky Resources. New Risk • Oct 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (108% increase in shares outstanding). Revenue is less than US$1m (AU$311k revenue, or US$215k). Market cap is less than US$10m (AU$5.47m market cap, or US$3.79m). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Share price has been volatile over the past 3 months (16% average weekly change). Annonce • Sep 26
Thunderbird Resources Limited, Annual General Meeting, Nov 29, 2024 Thunderbird Resources Limited, Annual General Meeting, Nov 29, 2024. New Risk • Aug 05
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 172% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (172% increase in shares outstanding). Revenue is less than US$1m (AU$311k revenue, or US$203k). Market cap is less than US$10m (AU$12.8m market cap, or US$8.38m). Minor Risk Share price has been volatile over the past 3 months (13% average weekly change). Annonce • Jul 18
Thunderbird Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 1.347395 million. Thunderbird Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 1.347395 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 44,913,162
Price\Range: AUD 0.03
Discount Per Security: AUD 0.0018
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing New Risk • Mar 16
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$1.7m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.7m free cash flow). Share price has been highly volatile over the past 3 months (38% average weekly change). Revenue is less than US$1m (AU$308k revenue, or US$202k). Market cap is less than US$10m (AU$11.5m market cap, or US$7.53m). Minor Risk Shareholders have been diluted in the past year (22% increase in shares outstanding). Annonce • Dec 19
Valor Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 1 million. Valor Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 1 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 250,000,000
Price\Range: AUD 0.004
Discount Per Security: AUD 0.00024
Transaction Features: Subsequent Direct Listing Annonce • Dec 06
Valor Resources Limited has filed a Follow-on Equity Offering. Valor Resources Limited has filed a Follow-on Equity Offering.
Security Name: Ordinary Shares
Security Type: Common Stock
Transaction Features: Subsequent Direct Listing Annonce • Oct 25
Valor Resources Limited (ASX:VAL) agreed to acquire 1325020 B.C. Ltd for $0.18 million. Valor Resources Limited (ASX:VAL) agreed to acquire 1325020 B.C. Ltd for $0.18 million on October 24, 2023. As for consideration, Valor Resources Limited is acquiring 100% of the issued capital of 1325020 B.C. Ltd for consideration comprising the issue of 50 million fully paid ordinary Valor shares, equivalent to $0.17 million. 1325020 B.C. Ltd holds cash of $0.087 million. Transaction is subject to due diligence investigations, approval required to effect completion of the acquisition under applicable laws or the rules of an applicable securities exchange. Annonce • Sep 27
Valor Resources Limited, Annual General Meeting, Nov 30, 2023 Valor Resources Limited, Annual General Meeting, Nov 30, 2023. Annonce • Sep 07
Firetail Resources Limited (ASX:FTL) completed the acquisition of 80% stake in Kiwanda SAC from Valor Resources Limited (ASX:VAL). Firetail Resources Limited (ASX:FTL) executed binding term sheet to acquire 80% stake in Kiwanda SAC from Valor Resources Limited (ASX:VAL) for AUD 2.4 million on July 5, 2023. As a part of consideration Firetail Resources will pay AUD 0.2 million cash on payable within 5 business days of execution of the terms sheet, AUD 0.55 million cash will pay on completion and 15,000,000 fully paid ordinary shares (consideration shares) in Firetail Resources at a deemed issue price of AUD 0.10 per share to acquire an initial 60% interest in Kiwanda subject to approval by Firetail shareholders. Firetail will issue 20,000,000 performance rights convertible into Firetail Shares on the satisfaction of specified vesting conditions (performance rights) following which Firetail will acquire an additional 20% interest in Kiwanda. A general meeting will be held on August 18, 2023, to approve the issue of the consideration shares and performance rights by Firetail shareholders. In connection with this transaction, and subject to approval by Firetail shareholders, a nominee of Valor, George Bauk, will be appointed to the Firetail board of directors.
Firetail Resources Limited (ASX:FTL) completed the acquisition of 80% stake in Kiwanda SAC from Valor Resources Limited (ASX:VAL) on September 6, 2023. Annonce • Jul 06
Firetail Resources Limited (ASX:FTL) executed binding term sheet to acquire 80% stake in Kiwanda SAC from Valor Resources Limited (ASX:VAL) for AUD 2.4 million. Firetail Resources Limited (ASX:FTL) executed binding term sheet to acquire 80% stake in Kiwanda SAC from Valor Resources Limited (ASX:VAL) for AUD 2.4 million on July 5, 2023. As a part of consideration Firetail Resources will pay AUD 0.2 million cash on payable within 5 business days of execution of the terms sheet, AUD 0.55 million cash will pay on completion and 15,000,000 fully paid ordinary shares (consideration shares) in Firetail Resources at a deemed issue price of AUD 0.10 per share to acquire an initial 60% interest in Kiwanda subject to approval by Firetail shareholders. Firetail will issue 20,000,000 performance rights convertible into Firetail Shares on the satisfaction of specified vesting conditions (performance rights) following which Firetail will acquire an additional 20% interest in Kiwanda. A general meeting will be held on August 18, 2023, to approve the issue of the consideration shares and performance rights by Firetail shareholders. In connection with this transaction, and subject to approval by Firetail shareholders, a nominee of Valor, George Bauk, will be appointed to the Firetail board of directors. Annonce • Feb 16
Valor Resources Limited Further Expands Surprise Creek Uranium Project with Strategic Acquisitions Valor Resources Limited (Valor) advised that it has further expanded its 100%-owned Surprise Creek Uranium and Copper Project in northern Saskatchewan, Canada after acquiring two new claims covering an area of around 20km2 adjoining its existing ground- holding. The two new claims cover historical copper occurrences and favourable geology for Beaverlodge-style uranium mineralisation. Despite their prospectivity, there has been minimal exploration undertaken on this area since the 1980s. A detailed review of the historical exploration data from the acquired claims is currently underway. This process will include a compilation, review and interpretation of all publicly available geological and geophysical datasets to prioritise areas for follow-up exploration. The Tazin Lake showing was discovered by Nitracell Canada in 1969 and is located on the southern shore of Tazin Lake. The showing consists of a copper occurrence hosted in pegmatitic textured, red feldspathic gneiss present in lenses of pale pink biotite gneiss. A selected sample yielded 1.2% Cu. Annonce • Feb 15
Valor Resources Limited Announces Exciting New Copper Targets At Surprise Creek Valor Resources Limited advised that a detailed historical exploration data review of three recently staked mineral claims at the Surprise Creek Uranium Project, located near the Beaverlodge Uranium District in northern Saskatchewan, Canada, has identified strong prospectivity for copper mineralisation. The new mineral claims were acquired in November 2022 (see ASX Announcement 22 November 2022 titled "Valor increases landholding at Surprise Creek") and cover an area of nearly 44km2 to the west of the Surprise Creek Project. The data review has highlighted three significant copper occurrences, in particular the Ellis Bay and Bob Lake Prospects. Trenching, channel sampling and drilling was undertaken on these two prospects in the 1950s-70s, with minimal modern exploration completed since that time. Drilling results of up to 9m @ 2.07% Cu and 27.3g/t Ag from surface and 2.5m @ 5.58% Cu and 17.43g/t Ag from 6.1m were reported at Bob Lake and 6.6m @ 1.31% Cu from 11m at Ellis Bay. Due to the historical nature of some of this data, some aspects of the sampling, assaying and drilling cannot be verified at this time and therefore caution must be applied, and some data has been excluded where the results are not considered accurate. The Company intends to verify the copper occurrences during the 2023 field season by completing geological mapping and geochemical sampling over these targets. Annonce • Feb 08
Valor Resources Limited Announces Final Priority Drill Targets for Cluff Lake Uranium Project Valor Resources Limited advised that it has confirmed several priority drill targets for the upcoming 2023 field season at the Cluff Lake Uranium Project, located 7km east of the Cluff Lake Uranium deposits on the western flank of Canada's world-class Athabasca Basin. The targets have been refined following the interpretation of new airborne gravity gradiometry (AGG) and magnetic data, re-processing of historical airborne EM data (MEGATEM) and initial fieldwork at the Cluff Lake Project. An earlier review of historic exploration data from the Cluff Lake area identified seven prospective targets from geological mapping, surface sampling, diamond drilling and re-processed historical geophysical data. Subsequent to that, the Company completed an airborne gravity gradiometry survey in June 2022 and, following an interpretation of these and other data, high-priority targets have been defined. The airborne gravity survey was designed to identify gravity lows which can be caused by clay alteration of the host rock, potentially due to hydrothermal fluids associated with unconformity uranium deposits. Detailed geological mapping was also completed over the area around the Surprise Creek Fault, with results highlighting compelling geological similarities to some of the more significant uranium deposits within the Beaverlodge district such as the Fay-Ace and Gunnar deposits. Initial fieldwork has also been completed to review the targets identified through the historical data review. Sampling of historical trenches and outcrop was completed where possible, with a total of 20 samples collected. Most notable were the samples taken at the Moose Lake prospect, which returned anomalous rare earths grading up to 9.15% TREO. Valor completed an airborne gravity gradiometry (AGG) survey across approximately 80% of the Cluff Lake Project area (622km2) last year. A total of 2,787 line-kms were flown in the survey, at a line spacing of 200m. Final data have been received and processing of the data has revealed several high-order anomalies. In addition to the gravity data, airborne magnetic data was also acquired during the same survey. The airborne gravity survey was designed to identify gravity lows. The hydrothermally clay altered host rocks associated with unconformity uranium deposits will have a lower density than the surrounding rocks and will present as gravity lows. Valor's consultant geophysics team, Terra Resources, which includes a former Cameco geophysicist, has interpreted the recently acquired airborne gravity survey data and highlighted four high-order priority targets and numerous lower order targets. A re-interpretation of historical MEGATEM data has also been completed which has been integrated with the new gravity data to prioritise the targets. Integrating the gravity data with historical geophysical data and the new airborne magnetic data has highlighted three significant structural/geophysical trends: the Carswell Lake Trend, Cluff Lake Trend and the Shea Trend. All three trends strike in approximately the same north-east orientation. Annonce • Dec 23
Valor Resources Limited Announces Outstanding High-Grade Uranium Rock Chip Results Up to 7.98% U3O8 Confirm Drill Target At Surprise Creek Valor Resources Limited reported significant uranium assay results from a follow-up field exploration program completed in September 2022 which has further enhanced the potential of its 100%-owned Surprise Creek Uranium Project, located near the Beaverlodge Uranium District in northern Saskatchewan, Canada. The field program mainly comprised detailed geological mapping and geochemical sampling in the Surprise Creek Fault area and was designed to follow-up reconnaissance work undertaken in July which returned several rock chip assay results of >1% U3O8 and up to 6.13% U3O8 and 1.03% Cu. The latest results have now extended the strike length of known surface uranium mineralisation at Surprise Creek Fault to around 500m, with six rock chip samples returning assays of >1% U3O8 and another 12 samples returning assays of >0.1% U3O8. A total of 50 rock chip samples were collected as part of the program, of which 28 samples were collected from the Surprise Creek Fault prospect. Detailed geological mapping was also completed over the area around the Surprise Creek Fault, with results highlighting compelling geological similarities to some of the more significant uranium deposits within the Beaverlodge district such as the Fay-Ace and Gunnar deposits. Follow-up sampling of surface copper mineralisation discovered in the July field program in the western part of the project, which returned high-grade copper assay results including 61.7% Cu, 27.6% Cu, 9% Cu and 4.93% Cu also returned significant results with several samples grading >1,000ppm Cu and up to 1.07% Cu. Surprise creek fault target: First-pass on-ground reconnaissance exploration of this area was completed by Valor in July this year, with assay results reported in the ASX announcement dated 13th October 2022. Of the 11 rock chip samples taken at Surprise Creek Fault in July, six returned assays of >1% U3O8 with a peak assay of 6.13% U3O8. During the most recent program, a total of 28 rock chip samples were taken from the Surprise Creek Fault target area, with another two taken from the Plug Lake area to the west. Six samples returned assays of >1% U3O8 and another 10 returned assays of >0.1% U3O8. In most cases the uranium mineralised samples have associated anomalous copper, usually >1,000ppm Cu and up to 1.31% Cu. In some instances, anomalous copper occurs with no promoted uranium. A handheld RS-125 scintillometer was used to assist in sample selection and the samples are selective in nature with a high potential for bias and should not be considered as being representative of the overall mineralised structure or zone. Historical drilling at the Surprise Creek Fault prospect from 1968 returned significant intercepts including 2.1m @ 4.37% U3O8 from 57m (VT20) including 0.9m at 7.5% U3O8. Details of the historical exploration at the Surprise Creek Project were provided in the Company's ASX announcement dated 6th July 2022 and titled ‘Surprise Creek data review highlights high-grade targets’. The Surprise Creek Fault is a north-northwest trending fault zone within orthogneisses and mylonite with widespread interpreted albitisation. Uranium mineralisation was predominantly found within northeast-southwest and east-west trending carbonate-hematite veins and hematitic breccias, with chlorite alteration and is variably associated with copper (visible malachite) +/- lead mineralisation. The higher-grade uranium mineralisation occurs around the intersection of the Surprise Creek Fault and a north-northeast trending mylonitic zone. The geological mapping has identified outcropping younger Martin Group red beds (sandstones) which occur unconformably and/or in faulted contact with the older basement orthogneisses. Significantly, uranium mineralisation has been found in the Martin Group sandstones and close to the unconformity with the older underlying basement rocks. This mineralisation and the geological setting suggest the Surprise Creek Fault prospect shares many similarities with two of the most significant Beaverlodge Uranium District deposits, Fay-Ace and Gunnar, which are located around 25km south-east and 30km south of Surprise Creek respectively. Historical production for the Fay-Ace and Gunnar deposits are reported as 42Mlb and 15Mlbs U3O8 respectively (Saskatchewan Mineral Deposit Index - SMDI 1285; Ashton, 2010). Valor intends to submit drill permit applications for the Surprise Creek Fault area over the northern winter, with the intention of undertaking a drill program in the June Quarter of 2023. The two samples from the Plug Lake area also returned encouraging results with assays of 0.22% U3O8 and 0.74% U3O8, with associated anomalous copper (up to 0.98% Cu). Copper targets: Follow-up of the copper occurrences identified in the July field program was also carried out as part of the September/October field program. A further 17 samples were collected in this area targeting the copper occurrences. Of the 17 samples, seven returned assays of >1,000ppm Cu and up to 1.07% Cu. Four separate areas of copper mineralisation have now been identified by the field programs. The host rocks for most of these copper occurrences are mylonitic granitic rocks and/or metasediments with disseminated sulphides and copper oxides and within veinlets and fractures. Most of these copper occurrences are located close to the unconformity between the Thluico Lake Group sediments and the older Tazin Group mylonites suggesting a possible genetic link. Annonce • Nov 22
Valor Resources Limited Increases Landholding At Surprise Creek Valor Resources Limited advised that it has staked three new mineral claims covering an area of 4,397 hectares (43.97km) adjoining its 100%-owned Surprise Creek Uranium Project in northern Saskatchewan, Canada. The three new claims cover several historical copper and uranium occurrences, the most significant of which are the Ellis Bay, Bob Lake and Waterloo showings. All three of these showings have significant copper results dating from the 1950s-70s, with minimal exploration undertaken from the 1980s onwards. This process will include a compilation, review and interpretation of all publicly available geological and geophysical datasets to prioritise areas for follow-up. ELLIS BAY: The Ellis Bay copper occurrence was first located in 1968, however the 25 Zone was detected in 1971 by airborne EM and magnetometer surveys. Copper mineralisation at varying concentrations is reported at the Zone 25 occurrence over an area of 488m x 188m. Five diamond drill-holes were completed at Zone 25 by Pinex Minerals in 1971 with copper mineralisation intersected in all holes. Another occurrence 1.4km north-east of Zone 25 was also located which was tested with six diamond drill-holes. After the work in the 1970s the area was only briefly explored from 1999 to 2001 by Phelps Dodge Corporation. The area is underlain by mylonitic quartzo-feldspathic and pelitic rocks of the Archean Tazin Group. It is overlain to the northwest and southeast by younger Palaeoproterozoic Thluicho Lake conglomerates, arkoses and argillites. The showing consists of pyrite and chalcopyrite ± minor bornite and malachite veinlets, films, fracture infillings, and individual grains. The foliation parallel mineralisation is hosted by a Tazin Group mylonitic schist. Cross-cutting quartz veining, although rare, contains some chalcopyrite. Fluorite is also often present. BOB LAKE: The Bob Lake copper showings were first reported in 1952 by Great West Uranium Mines. Eight drill holes were completed to test the north and south showings (around 350m apart) with copper mineralisation reported. After 1971 there is no reported significant exploration in this area. The mineralisation is reported to occur as disseminations in the gneisses and Thluicho Group metasediments and in veinlets and stringers of quartz and calcite. The north showing reportedly consists of chalcopyrite mineralisation within a large irregular mass of quartz (12.2 x 4.6 x 1.2 m) in size which occurs in granitized Thluicho Group metasediments. The south showing appears to be related to a narrow fracture zone striking southeast. A third showing (Starlite Cu A Zone) occurs about 350m east, with chalcopyrite-bornite mineralisation reported in widths up to 7.6m over a strike length of 183m. WATERLOO SHOWINGS: The main showing was discovered in 1969 by North American Rare Earths Ltd. As with the other showings, after 1971 the area was only briefly explored from 1999 to 2001 by Phelps Dodge Corporation. Mineralisation is located within the older Tazin Group basement rocks and specifically a highly fractured, locally sheared and altered granite plug which is cut by east-west trending dolerite dykes. Disseminated and blebby chalcopyrite is fracture-controlled and confined to quartz veins. Annonce • Nov 18
Valor Resources Limited Completes Successful Radon-In-Soil Surveys over Large Gravity Targets At Its Hidden Bay Uranium Project Valor Resources Limited advise that it has completed successful radon-in-soil surveys over large gravity targets at its Hidden Bay Uranium Project, located 20km south of the Rabbit Lake Uranium deposit on the eastern flank of the Athabasca Basin in Canada. The Company contracted RadonEx Ltd. to complete a Radon Flux Monitor (RFM) survey over five of these targets, with a total of 617 points measured. The survey comprised three grids the SW, Central and NE grids with RadonEx interpreting a 1km long north-south Priority 1 radon trend on the SW grid, a potential 1km long ENE striking Priority 1 radon trend on the Central grid, and some anomalies on the edge of the NE Grid. An initial site visit was also completed to establish logistical requirements and an on-ground review of recently collated historical data. The site visit was cut short due to wildfires in the area. Valor has completed a Radon Flux Monitoring (RFM) survey at the Hidden Bay Uranium Project and an additional reconnaissance field visit. The survey was completed in August 2022 on behalf of Valor by RFM survey specialists, RadonEx Ltd. Board Change • Nov 16
Less than half of directors are independent There are 3 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). Executive Chairman George Bauk is the most experienced director on the board, commencing their role in 2020. Independent Non-Executive Director Gary Billingsley was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Annonce • Oct 26
Valor Resources Limited Announces New IP Anomalies Confirm Copper Potential at Picha Project Valor Resources Limited announced that it has taken further important steps towards unlocking the exploration potential of its 100%-owned Picha Copper Project in Peru after receiving highly encouraging results from an Induced Polarisation (IP)/Resistivity survey and ground magnetic survey completed in September 2022. The Picha Project is located in the Moquegua and Puno Departments of southern Peru within a highly prospective porphyry-epithermal copper-gold-silver district which also includes the Berenguela, San Gabriel and San Antonio De Esquilache polymetallic deposits. The 7.6Moz AuEq Buenaventura SAA owned San Gabriel Gold-copper project lies just 14km south-east of the Huancune Target within the same northeast-southwest trending mineralised corridor. To the northwest of Picha, along the same regional geological trend, lies the Trapiche, Antilla and Pinaya Porphyry Cu-Mo-Au projects. The IP/Resistivity survey completed at Picha in December 2021 highlighted a large IP chargeability anomaly approximately 2km long in a north-south orientation and up to 2km across at its widest extent, located in the southern part of the survey area, in the general vicinity of the Fundicion target. A new IP survey was completed in September 2022 at two target areas: Ichucollo, where channel sampling results highlighted widespread surface copper mineralisation; and 2. Huancune, where several rock chip and channel samples have returned assays >0.5% Cu and up to 3.95% Cu. A pole-dipole IP survey comprising 61-line kilometres and a ground magnetic survey comprising 36-line kilometres was completed over these areas, with the new survey areas located to the south-west and north- east of the 2021 survey, with some overlapping of the surveys to ensure data integrity and continuity. The data from these new surveys are currently being integrated with geological mapping to develop a 3D geological model which, along with the surface geochemical sampling, is being used to determine targets and drill-hole locations. At Ichucollo, a semi-continuous anomaly of around 2.5km length, orientated approximately north-south, was identified and at Huancune, a semi-continuous chargeability anomaly over 1.5km in length and orientated northeast-southwest was defined. When combined with the IP anomaly outlined in the 2021 survey, the surveys have identified potential drill targets over 6km in strike extent. These new drill targets will be added to the existing proposed drill program, which is currently awaiting approval from the government authorities, providing a pipeline of drill targets for testing in 2023. Approvals for the Company's maiden drilling program at the Picha Project are progressing with the Peruvian Government. The maiden drilling program will target the Cobremani, Maricate, Combre Coya targets and the Fundicion IP chargeability anomaly identified in the 2021 IP survey. At the Ichucollo target, an IP/Resistivity survey was completed on 12 lines for a total of 39-line km. The line spacing was mostly 400m but infilled to 200m in areas of interest. 2D and 3D inversion modelling was completed for the chargeability and resistivity data. The inversions highlighted a strong chargeability anomaly from near-surface down to a depth of approximately 250m (depth limit of the survey). The anomaly is semi-continous over a length of about 2.5km and orientated approximately north-south (similar to the large IP anomaly defined in the 2021 survey). The strength of the chargeability anomaly would suggest it most likely represents sulphide mineralisation. This is supported by the close spatial relationship between surface copper mineralisation and the IP anomaly. An example of this is on Line 7 (8217976N), where the chargeability anomaly is close to surface, mineralisation has been identified with channel sampling highlighting an 18m long zone of "manto- type" mineralisation averaging 1.45% Cu. Elsewhere, channel sampling results of 24m @ 1.08% Cu, 12m @ 1.1% Cu, 30m @ 0.79% Cu and 16m @ 0.60% Cu occur in close proximity to the IP anomaly. The Huancune Target is located to the south-west of Ichucollo and the IP/Resistivity survey was completed on 8 lines 400m apart for a total of 22-line kms. Again, 2D and 3D inversion modelling was completed for the chargeability and resistivity data resulting in the definition of an IP chargeability anomaly extening over 1.5km in a northeast-southwest orientation and occuring at a depth of around 150m down to 300m (and potentially deeper). The south-west corner of the anomaly is coincident with several rock chip and channel samples of >0.5% Cu and up to 3.95% Cu. The strength of the chargeability anomaly at depth indicates the likelihood of sulphide mineralisation being present. The work completed over a period of 18 months at the Picha Project has now identified an extensive potential porphyry copper/epithermal mineralised system. The IP/Resistivity surveys and surface geochemical sampling have outlined a corridor of over 7.5km in extent, orientated northeast-southwest, with several significant IP chargeability anomalies and widespread surface copper-silver mineralisation. There are at least seven significant drill targets now defined within this corridor. Annonce • Oct 13
Valor Resources Limited Reports Significant High-Grade Assay Results from a Reconnaissance Surface Sampling Program Undertaken in July at its 100%-Owned Surprise Creek Uranium Project, Located Near the Beaverlodge Uranium District to the North-West of the World-Class Athabasca Basin Valor Resources Limited reported significant high-grade assay results from a reconnaissance surface sampling program undertaken in July at its 100%-owned Surprise Creek Uranium Project, located near the Beaverlodge uranium district to the north-west of the world-class Athabasca Basin. This work has confirmed several historical uranium and copper targets and identified several new, previously unrecorded uranium and copper occurrences. A total of 30 samples were collected from uranium and copper occurrences across the Project which have returned significant high-grade copper and uranium assay results. First-pass ground-based reconnaissance exploration of this area has been completed with 11 samples taken from historical trenches and outcrop in the Surprise Creek Fault area. A handheld RS-125 scintillometer was used to assist in sample selection and the samples are selective in nature with a high potential for bias and should not be considered as being representative of the overall mineralised structure or zone. The Surprise Creek Fault is a north-northwest trending fault zone within paragneisses with widespread interpreted albitisation. Uranium mineralisation was predominantly found within east-west trending hematitic breccias and veins, with chlorite alteration and is variably associated with copper (visible malachite) +/- lead mineralisation. The higher-grade uranium mineralisation occurs around the intersection of the Surprise Creek Fault and a north-northeast trending splay. Of the 11 rock chip samples taken at Surprise Creek Fault, six returned assays >1% U3O8, with up to 6.13% U3O8. All the >1% U3O8 samples returned anomalous copper results, with a highest assay of 2.57% Cu. In the Plug Lake area, around 1km east of the Surprise Creek Fault area, five samples were collected from historical trenches with three returning assays greater than 0.1% U3O8. Uranium mineralisation is again found within small hematitic breccias/veins associated with lenses of amphibolite. Copper is also associated with the uranium mineralisation in this area with assays of up to 0.69% Cu. The quartz vein is hosted within mylonitised granites and/or metasediments of the Tazin Group which outcrops extensively in the area. The second area is located further to the south, where a total of six rock chip samples were collected. Samples were predominantly of Tazin Group mylonitised granites and/or metasediments with disseminated sulphides and copper oxides. Three of the samples returned assays of >0.1% Cu and up to 3.94% Cu. While it is currently unclear what style of copper mineralisation these occurrences might represent, the southernmost area is located close to the regional unconformity between the overlying Thluico Lake Group sediments and the older Tazin Group mylonites, suggesting a possible genetic relationship. Annonce • Oct 06
Valor Resources Limited Appoints Robin Wilson as Technical Director Valor Resources Limited announced the appointment of Mr. Robin Wilson as technical director of the company. Mr. Wilson has been involved in the company since August 2021 and most recently as the Exploration Manager of Valor Resources. With Robin Wilson joining the board of the company, Mr. Brian McMaster has retired from the Board. Mr. McMaster has been a director of the company for over a decade and has been a valuable contributor to the company over this time. With the company's increased exploration activities in both Canada and Peru, adding Mr. Wilson to the Board is logical to strengthen the core skills of the company at this stage of its development. Mr. Wilson has overseen the exploration activities of the company in both Canada and Peru in the last 15 months and been instrumental in both the expansion of its asset base as well as advancing all the projects through a comprehensive, structured, and modern approach to exploration activities. Mr. Wilson has held senior exploration positions in several exploration and mining companies, including Polaris Metals, Tanganyika Gold, Troy Resources, CRA Exploration and Northern Minerals. He has also spent 5 years working in oil and gas exploration for Woodside Energy. During nearly 30 years of involvement in mineral exploration, Mr. Wilson has worked on gold, nickel, REE, uranium, copper, lithium and phosphate projects throughout Australia, Africa, South America and North America and was involved in the initial discovery and outlining of several gold deposits in Australia. Between 2006 and 2021 he led the Northern Minerals exploration team that discovered the Browns Range REE deposits that have advanced through development to production of HRE carbonate. Annonce • Oct 05
Valor Resources Limited, Annual General Meeting, Nov 29, 2022 Valor Resources Limited, Annual General Meeting, Nov 29, 2022. Annonce • Sep 23
Valor Resources Limited Completes the Interpretation of Airborne Gravity Gradiometry Survey Data At the Hook Lake Uranium Project Situated on the Eastern Flank of the Athabasca Basin Valor Resources Limited (Valor) advised that it has completed the interpretation of airborne gravity gradiometry survey data at the Hook Lake Uranium Project situated on the eastern flank of the Athabasca Basin. The Company completed an airborne gravity gradiometry survey in May-June this year and following an interpretation of the data, eleven new targets have been defined. The airborne gravity survey was designed to identify gravity lows. The hydrothermally clay altered host rocks associated with unconformity uranium deposits will have a lower density than the surrounding rocks and will present as gravity lows. A site visit has also been completed to review the airborne gravity survey targets and assess the local geology. Follow-up work in the form of radon surveys and lake sediment sampling are currently being planned over the highest-priority targets. Valor completed an airborne gravity gradiometry (AGG) survey across the entire Hook Lake Project area (258km2). A total of 2,082 line kms were flown in the survey, at a line spacing of 150m. Final data has been received and processing and interpretation of the data has revealed several significant targets. In addition to the gravity data, airborne magnetic data was also acquired during the same survey. The airborne gravity survey was designed to identify gravity lows which can be caused by clay alteration of the host rock, potentially due to hydrothermal fluids associated with unconformity uranium deposits. An example of this is the basement-hosted Arrow Uranium Deposit, which has a Total Mineral Resource of 337.4 million pounds U3O8 at a grade of 1.8%, which was discovered in 2014 by NexGen Energy Ltd. The discovery of the Arrow Deposit was, in part, the result of drill testing a circular gravity low with a diameter of around 1km. (sourced from Arrow Deposit, Rook I Project, Saskatchewan, NI 43-101 Technical Report on Feasibility Study). Terra Resources, Valor's consultant geophysics team, have interpreted the recently acquired airborne gravity survey data and highlighted eleven new targets The most significant of those are as follows: V-Grid: A strong gravity low just to the north of DDHL22-008 at the V-Grid prospect. Located just 1.5km south of the S-Zone prospect next to a distinct magnetic high which was targeted by DDHL22-008 and which intersected a thick gabbro/diorite unit which is the source of the magnetic high. West Way: A group of three targets with the highest priority anomalies being Way1 and Way3. Way1 is a strong gravity low, with several uranium radiometric anomalies along strike to the southwest. Way3 is a very intense gravity low but is deeper than most of the other anomalies having been modelled at around 500m depth. Thompson Lake/South: Two targets along the Thompson Lake trend which are coincident with a granite/metasediment contact and north-northwest trending Tabbernor fault structures. Reconnaissance Field Work: A field trip to the Hook Lake Uranium project was completed in August. The site visit included an on-ground review of the airborne gravity survey targets and additional targets identified through a historical data review. A total of five rock samples were collected from various locations throughout the project, including some of the gravity targets, during the recent field trip. Samples have been submitted to the assay laboratory with results expected in 4-6 weeks. Diamond drilling assay results: Valor Resources Ltd. completed its maiden drilling program at the Hook Lake Project in April this year. The drilling program comprised eight drill holes for 1,757m, with six holes at the S-Zone prospect and two at the V-Grid prospect. A total of 305 samples were collected from the program and submitted for assay with all the results having now been received. Full details of the drilling program were released in the ASX announcement The assay results confirm the handheld scintillometer readings and downhole gamma survey results which were reported in April. The intersection in DDHL22-002 of 2.5m @ 160ppm U3O8 from 105.5m corresponds with handheld scintillometer readings of up to 900 counts per second (cps) within a brecciated and altered felsic intrusive with traces of visible uraninite. Similarly, the anomalous uranium assays in DDHL22-005 (2.36m @ 91ppm U3O8 from 16.1m) correspond with handheld scintillometer readings of up to 390cps and associated with an albitite altered metapelite. The intersection in DDHL22-002 which included 1m @ 259ppm U3O8 from 107m also has elevated rare earths, averaging 673ppm TREO across the 2.5m intervall. Cluff Lake Drill permits: Approval has been received from the Saskatchewan Government for mineral exploration activities at the Company's Cluff Lake Project. This includes approval for diamond drilling which is being planned for next year to follow-up on some of the historical and new gravity targets. Surprise Creek: On-ground fieldwork is set to re-commence in October at the Surprise Creek Project to follow-up on the uranium and copper mineralisation identified at the project in the July field program. Initial results of the July field program were provided in the ASX announcement dated 11 August 2022 titled "Significant Uranium and Copper mineralisation identified at Surprise Creek Project during field program". Assay results from the initial field program are expected later this month. Follow-up: It is intended to follow-up the new gravity targets at Hook Lake with radon surveys and lake sediment sampling. Radon geochemistry is a well-known exploration technique used in the Athabasca Basin. Radon gas is formed from the decay of radium, a by-product of uranium decay. Due to hydrogeochemical processes radium can concentrate along faults and fractures extending away from uranium mineralisation. Radon concentration can then be measured in groundwater, soils or air at surface. Annonce • Aug 19
Valor Resources Limited Announces Executive Changes Valor Resources Limited announced the appointment of Mr. Joe Graziano as Company Secretary. Mr. Graziano is an experienced Company Secretary holding positions in a number of other listed companies. Ms Paula Smith has resigned as Company Secretary and also as Non executive Director effective 19 August 2022. Ms Smith has been involved with the Company over 7 years. Annonce • Aug 13
Valor Resources Limited Announces the Initial Findings of Reconnaissance Field Program At the Surprise Creek Project (The Project) in Northern Saskatchewan Valor Resources Limited announced the initial findings of a reconnaissance field program at the Surprise Creek Project (the Project) in northern Saskatchewan. This work has confirmed several historical uranium and copper targets and identified some new, previously unrecorded uranium and copper occurrences. A total of 36 samples were collected from the uranium and copper occurrences which have been submitted for assay. Assay results are expected in around four weeks. The most significant uranium target based on historical exploration results is the Surprise Creek Fault target. Details of the historical exploration at the Surprise Creek Project were provided in the Company's ASX announcement dated 6th July 2022 and titled "Surprise Creek data review highlights high-grade targets". First- pass on-ground reconnaissance of this area has been completed with surface uranium mineralization confirmed at several locations including in areas away from the previously recorded mineralisation. A handheld RS-121 scintillometer was used to confirm uranium mineralisation with four sample locations recording maximum readings (>65,535cps) and another seven sample locations recording >5,000cps, with multiple other occurrences of anomalous scintillometer readings present in the area. Uranium mineralisation was found within hematitic breccias and veins and was variably associated with copper +/- lead mineralisation. In the Plug Lake area surface uranium mineralisation was confirmed with a further two occurrences having readings >65,535cps and another two with >5,000cps. The same mineralisation style as at Surprise Creek was observed. The scintillometer reading locations are selective in nature and therefore have a high potential for bias and should not be considered as being representative of the overall mineralised structure or zone. Surface copper mineralisation was observed in several locations with the most significant being a previously unrecorded quartz vein with semi-massive chalcocite mineralisation, which has a current known strike length of 350m. Covellite, native copper, malachite, azurite and copper-oxides were also observed, indicating the high-grade nature of the showings. The host rock for most of these copper occurrences are mylonitic granitic rocks. It is currently unclear what style of copper mineralisation these occurrences might represent, however the close spatial relationship with the unconformity between the Thluico Lake Group sediments and the older Tazin Group mylonites suggests a possible genetic link. Annonce • Jul 19
Valor Resources Limited Announces the Results of Rock Chip Samples from the Ichucollo Target At the Picha Project in Southern Peru Valor Resources Limited announced the results of rock chip samples from the Ichucollo target at the Company's Picha Project in southern Peru. A total of 113 channel and selective rock chip samples have been collected at Ichucollo between April and May this year, and assay results have now been received. Of the 113 samples taken at Ichucollo, 32 assayed >0.5% Cu, all of which were channel samples, with individual channel samples up to 7.75% Cu and 99g/t Ag. Mineralisation is mostly associated with argillic altered andesitic volcanics (stratabound style) however there is potential for a porphyry at depth within this target area. Many of the samples had elevated molybdenum (above 20ppm and up to 412ppm) providing further evidence for a potential porphyry copper mineralising system within the project area. The Ichucollo target is located just 1km east of the Cumbre Coya drill target and has been the focus of surface sampling and mapping in the last three months. Another 113 samples have been collected and assay results have been received since the Company's ASX announcement dated 3rd June regarding the initial sampling at Ichucollo. Assay results have been received for a total of 104 channel samples and 9 selective rock chip samples. The selective rock chip samples have a high potential for bias and should not be considered as being representative of the overall mineralised structure or zone. The Ichucollo target is located northeast of the other confirmed drill targets at the Picha Project: Cobremani, Maricate, Fundicion and Cumbre Coya, all of which are located within the NE-SW trending structural corridor which extends towards the southwest and Buenaventura's 7.6Moz Au Eq San Gabriel Project. The Ichucollo target has potential for epithermal polymetallic vein mineralisation, stratabound mineralization and at depth, carbonate replacement deposits (CRD) and porphyry copper mineralisation. One selective rock chip sample was collected from an area located approximately 4.5km west of Cobremani. The sample was of argillic altered andesitic volcanics and returned an assay of 6.78% Cu and 25g/t Ag. Selective rock chip samples have a high potential for bias and should not be considered as being representative of the overall mineralised structure or zone. Follow-up sampling and mapping is planned for this area in the current quarter. As follow-up to the recent assay results from Ichucollo it is proposed to complete a ground Induced Polarisation/Resistivity survey over the target area. In addition to Ichucollo, the area covering the Huancune target area will also be included in the IP/Resistivity survey. Annonce • Jul 06
Valor Resources Limited Announces Surprise Creek Data Review Highlights High-Grade Targets Valor Resources Limited announced the completion of an extensive data review and targeting process on the Surprise Creek Project (the Project) to the northwest of the Athabasca Basin. This work has highlighted a significant number of very prospective targets, which will be followed up on-ground in the coming few weeks. Historical data review targets. The following targets are based on a thorough review of historical exploration data which has been integrated with a detailed geological interpretation of all publicly available geophysical data completed by Valor's consultant geophysics team, Terra Resources. The historical exploration data is from the 1950s through to the late 1970s. Between the 1980s and the present day, little uranium or copper exploration has been carried out in this area. Details of relevant drill holes and surface sampling information that have been used in determining some of these targets. All diamond drill holes have been reported and surface samples reported have been filtered based on: Soil samples > 2ppm U, rock chip(boulder) and unknown sample types > 5ppm U. Due to the historical nature of some of this data, some aspects of the sampling and drilling cannot be verified and therefore some caution must be applied. The Company intends to carry out on-ground work to verify aspects of the historical data before advancing targets to the next stage. Surprise Creek Fault: The Surprise Creek Fault target is an area where uranium exploration occurred in the late 1960s. The most significant exploration was conducted by Van-Tor Resources who completed 27 diamond holes in 1968 to test an area of uranium mineralisation at surface. Prior to that, in 1955, Independence Mining drilled 14 shallow (mostly 25-50m and up to 85m deep) diamond drillholes in the area following prospecting and trenching, which located uranium mineralisation at surface. Drilling by Van-Tor Resources returned several significant intercepts which are as follows: VT20: 2.1m @ 4.37% U3O8 from 57m including 0.9m @ 7.5% U3O8 and 0.61m @ 0.37% U3O8 from 52.4m, VT13: 1.5m @ 0.1% U3O8 from 57.6m, VT06: 0.15m @ 0.1% U3O8 from 4.8m, VT05: 0.43m @ 0.49% U3O8 from 41.7m, VT02: 0.15m @ 0.83% U3O8 from 29.6m. Van-Tor Resources recognised the north-northwest trending mylonitised zone, known as the Surprise Creek Fault, with uranium mineralisation occurring in east-west trending veins along the western side of this structure. Geochemical soil sampling conducted by Enex Resources in 1979 defined a geochemical uranium soil anomaly (>25ppm) over 500m in length and associated with the Surprise Creek Fault. Parts of this geochemical anomaly have never been drill tested and it remains partially open to the northwest and northeas. Plug Lake: The Plug Lake target contains multiple occurrences of basement-hosted uranium mineralisation hosted within W-NW striking veins or structures. Mineralisation is known to be spatially associated with amphibolite lenses. Rock grab samples of up to 5,004ppm U are reported from this area. Two shallow (<100m deep) diamond drillholes were completed in this area by Van-Tor Resources (VT25 and VT26) but no significant intercepts were recorded. Mylonite Lake: The Mylonite Lake target consists of an occurrence of basement-hosted uranium mineralisation within a structurally complex zone interpreted from geophysics and aerial photography. The interpreted intersection of E and NE-striking faults in the area is a structural setting that is considered favourable for hosting uranium mineralisation. Copper targets: Copper exploration in the 1970s in the west and southwest of the Project area has identified some significant geochemical copper targets. The work was mostly completed by SMDC in 1976 with widespread geochemical soil and rock chip sampling programs uncovering consistent copper mineralisation in two different area. The southern copper anomaly is the most significant with rock chips up to 5.9% Cu and soil samples assaying up to 3,300ppm Cu. The +150ppm Cu anomaly in the south can be traced over 1.5km and remains open beyond the survey boundaries. The northern Cu anomaly contains rock chips up to 0.7% Cu and soil samples up to 340ppm Cu. Follow-up drilling was recommended but never completed. Location and access: The Surprise Creek Project comprises four contiguous mineral dispositions covering an area of 3,470 hectares (34.7km2) and is located around 25km northwest of Uranium City in Northern Saskatchewan. The Project is also located approximately 30km northwest of the Beaverlodge uranium district which contains the historical uranium mines of Gunnar, Eldorado (Ace-Fay-Verna) and many others. Deposit types and mineralization: The Surprise Creek Project is located in the Archean Zemlak Domain within the Rae Province, northwest of the Athabasca Basin and directly abuts the Beaverlodge Domain which hosts many of the district's uranium deposits. Most of the uranium deposits of the Beaverlodge Uranium district are classed as structurally controlled vein type, which is considered a sub-type of the basement-hosted unconformity-related uranium deposits. Two of the most significant examples in the district are the Gunnar and Eldorado (Ace-Fay-Verna) deposits, which are reported to have produced 18Mlbs and 47Mlbs of U3O8 respectively in the 1950s and early 1960s. The overall grade of uranium mines in the Beaverlodge district was 0.25% U3O8. (Ward D.M., 1982, Beaverlodge Mine Geology Closure Report: Eldorado Nuclear Ltd. Exploration Division Report, 170 pp) Geology The Surprise Creek project is located in the Eastern Zemlak Domain of the Rae Province, which is dominated by upper amphibolite facies leucogranites, gneissic to migmatitic granitoids, and massive anatectic granites derived from these sources and the underlying quartzite-basalt-pelite-psammite succession of the Murmac Bay Group. Mylonites dominate the project area, which are unconformably overlain by the Thluicho Lake Group, a greenschist facies sedimentary succession. This is in turn overlain by the later red-bed formations of the Martin Lake Group, rocks attributed to a pre-cursor sub-basin of the Athabasca Basin. Annonce • Jun 07
Valor Resources Limited Announces Completion of an Extensive Data Review and Targeting Process on the Cluff Lake Uranium Project Valor Resources Limited announced the completion of an extensive data review and targeting process on the Cluff Lake Uranium Project (the Project) in the western Athabasca Basin. This work has highlighted a significant number of very prospective targets, which will be followed up on-ground in the coming few weeks. In addition, an extensive airborne gravity gradiometry survey has recently been completed at the Project, with additional targets expected to be identified when the final data is reviewed". An airborne gravity gradiometry (AGG) survey has been completed across approximately 80% of the Cluff Lake Project area (622km2). A total of 2,755 line kms were flown in the survey, at a line spacing of 200m. To the Company's knowledge, this is the first modern airborne gravity survey completed over the project area. The preliminary data is currently being compiled and reviewed, with the results expected later this month. The AGG data will help delineate geology and structure that are potentially important in the formation of a uranium deposit. Gravity anomalies can provide direct detection of the hydrothermal alteration associated with a uranium deposit. Hydrothermally altered (de-silicified) rocks have a lower density then the unaltered host rocks and can therefore be identified as gravity lows. An example of this is the basement-hosted Arrow Uranium Deposit, which has a Total Mineral Resource of 337.4 million pounds U3O8 at a grade of 1.8%, which was discovered in 2014 by NexGen Energy Ltd. The discovery of the Arrow Deposit was, in part, the result of drill testing a circular gravity low with a diameter of around 1km. (sourced from Arrow Deposit, Rook I Project, Saskatchewan, NI 43-101 Technical Report on Feasibility Study). The following targets are based on a thorough review of historical exploration data which has been integrated with a detailed geological interpretation of all publicly available geophysical data completed by Valor's consultant geophysics team, Terra Resources. The historical exploration data is from the 1960s through to the 1980s. Between the 1990s and the present day, little uranium exploration has been carried out in this area. Details of relevant drill holes and surface sampling information that have been used in determining some of these targets, have been included in Appendices 1 and 2. All diamond drill holes have been reported and other drillholes with maximum U assay of >1ppm have been reported. The surface samples reported have been filtered based on: Organic samples >5ppm U, Soil samples > 2ppm U, rock chip(boulder) and unknown sample types > 5ppm U. Due to the historical nature of some of this data, some aspects of the sampling and drilling cannot be verified and therefore some caution must be applied. The Company intends to carry out on-ground work to verify aspects of the historical data before advancing targets to the drilling stage. Annonce • Jun 04
Valor Resources Limited Announces Significant Copper & Silver Sampling Results in Peru Valor Resources Limited announced the results of rock chip samples taken from new copper targets at the Company's Picha Project and from targets at the recently acquired Charaque Project in southern Peru. Samples were taken from three new targets at the Picha Project which were first highlighted in the Company's Picha Project landholding expanded following outstanding results from 2021 exploration program". Further samples were also taken from the Huancune target where Valor's previous channel sampling had returned assays up to 3.95% Cu. The sample details and assay results from the Picha and Charaque Projects are shown below in Tables 1 and 2 respectively. "Further targets have now been confirmed at Picha by the exploration team in 2022, with high-grade copperand silver rock chip and channel samples, highlighting just how prospective this project is. Added to this isthe new Charaque Project, which is already delivering high-grade silver and lead assays from the initialsampling. The second half of 2022 is promising to be an exciting time for the Company." A total of 15 samples were taken at Picha, three of which were from the Huancune target and the rest fromthe new targets of Chullunquiani, Ichucollo and Occsani. At the Ichucollo target, which is located just 1kmeast of the Cumbre Coya drill target, three channel samples and three selective samples were taken. Channelsamples returned assays up to 2.69% Cu, while two of the selective samples returned assays of 2.43 and1.34% Cu. The third selective sample from Ichucollo returned an assay of 394ppm Mo. Annonce • May 24
Valor Resources Announces Commencement of an Airborne Gravity Gradiometry Survey at the Hook Lake and Hidden Bay Uranium Project Valor Resources Limited announced the commencement of an airborne gravity gradiometry (AGG) survey at the Hook Lake and Hidden Bay Uranium Project (the Project) in the eastern Athabasca Basin. In addition to Hook Lake, the gravity survey will also include the Hidden Bay Uranium Project, which is located approximately 95km northeast of Hook Lake. The Hidden Bay Project covers an area of 31.9km2 and is prospective for basement-hosted uranium mineralisation. Historical exploration data from the Hidden Bay Project area has been compiled and based on the preliminary results of this review indicates that Hidden Bay should be immediately prioritised for AGG. The AGG data will help delineate geology and structure that are important in the formation of a uranium deposit. Gravity anomalies provide direct detection of the hydrothermal alteration associated with a uranium deposit. Hydrothermally altered (de-silicified) rocks have a lower density then the unaltered host rocks and can therefore be identified as gravity lows. An example of this is the basement-hosted Arrow Uranium Deposit, which has a Total Mineral Resource of 337.4 million pounds U3O8 at a grade of 1.8%, which was discovered in 2014 by NexGen Energy Ltd. The discovery of the Arrow Deposit was, in part, the result of drill testing a circular gravity low with a diameter of around 1km. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Non-Executive Director Gary Billingsley was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annonce • Apr 22
Valor Resources Limited Announces the Results of Rock Chip Samples Taken from Recently Identified Copper Targets at its Picha Project in Southern Peru Valor Resources Limited announced the results of rock chip samples taken from recently identified copper targets at the Company's Picha Project in southern Peru. Samples were taken from two new targets which were first highlighted in the Company's ASX announcement dated 31st March 2022 titled "Spectral study supports the porphyry potential at Picha Copper project". Samples were also taken from the Huancune target where Valor intends to commence systematic on-ground exploration in 2022. All the selective rock chip samples have a high potential for bias and should not be considered as being representative of the overall mineralised structure or zone. Rock chip sampling results: A total of nine rock chip samples were taken at Picha, four channel samples from Huancune, four samples (three channel and one chip) from the new Pacojahua target located 2km southwest of Huancune and one rock chip sample from the Ajencorani target located in the northeast corner of the project area. At Huancune, three of the four samples returned assays >1% Cu and up to 229g/t Ag and 3.06% Pb. Three of the channel samples were taken within 10m of each other while the other channel sample was taken 350m south, which returned an assay of 1.17% Cu. Sulphides such as chalcopyrite, chalcocite and galena, along with malachite and azurite were identified in these samples with the mineralisation hosted by andesitic volcanics, agglomerates and breccias. At the Pacojahua target, located southwest of Huancune, the three channel samples were all taken from the historical workings. These samples returned assays up to 0.82% Cu and 47.7g/t Ag with mineralisation hosted by andesitic volcanics. A single rock chip sample was also taken approximately 650m east of the historical workings which did not return any significant assay results. A single rock chip was taken from the Ajencorani target located in the northeast corner of the Project. This sample returned anomalous results with 282ppm Cu and 388ppm Zn. Further sampling is required in this target area. Next steps: The permitting process is well underway with the Company still expecting to commence drilling at Picha in the September quarter. Exploration will continue at Picha with geological mapping, surface sampling and ground geophysical surveys over the Pacojahua, Huancune, Occsani, Ichucollo, Chullunquiani and Ajencorani target areas. Annonce • Apr 11
Valor Resources Limited Announces Initial Drill Program Hits Elevated Radioactivity and Associated Alteration at Hook Lake Uranium Project Valor Resources Limited announced company's maiden drilling program at the Hook Lake Uranium Project has been completed. The drilling program comprised eight drill holes for 1,757m, with six holes at the S-Zone and two at V-Grid. Eight hole, 1,757m diamond drilling program completed at Hook Lake Project at the S-Zone and V-Grid targets. Elevated radioactivity and alteration zones encountered in several holes at S-Zone target, assays pending. Uraninite mineralization recorded in drill hole DDHL22-002 at S-Zone within a 3.5m 2 sub-vertical zone of elevated radioactivity and alteration. Airborne gravity survey to commence at Cluff Lake and Hook Lake in May to identify new drill targets. Follow-up on-ground exploration program for Hook Lake currently being planned, to include on-ground follow up of targets such as West Way where surface sampling in 2021 returned assays up to 0.64% U3O8 and Nob Hill with assays up to 1.01% TREO. Annonce • Mar 03
Valor Identifies Large Porphyry Copper Target Valor Resources Limited announced the final results of the Induced Polarisation and ground magnetic survey completed at the Picha Project in late 2021. The IP survey comprised 57-line km and the ground magnetic survey was 204 line km covering most of the area of the granted mining concessions. This data has been integrated with geological mapping to develop a 3D-geological model which, along with the surface geochemical sampling, is being used to determine targets and drill hole locations. The IP survey has outlined a large anomaly in the central and southern portion of the survey area. The anomaly is approximately 2km long in a north-south direction and 2km across at its widest point (NE-SW orientation). The anomaly reflects potential sulphide mineralisation at depth relating to a large porphyry body. The drilling program will be aimed at testing the surface copper and silvermineralisation located at the Cobremani, Maricate and Cumbre Coya targets representing potential shallower stratabound, polymetallic vein or breccia-type targets as well as testing the expected deeper porphyry target identified by the IP survey. Annonce • Feb 15
Valor Resources Limited announced that it expects to receive AUD 3.399991 million in funding Valor Resources Limited announced a private placement of 309,090,090 shares at a price of AUD 0.011 per share for gross proceeds of AUD 3,399,991 on February 14, 2022. The expected payment date is February 21, 2022. Annonce • Jan 31
Valor Resources Limited's Drilling Commences at the Highly Prospective Hook Lake Uranium Project in the Athabasca Basin, Canada Valor Resources Limited announced the company's maiden diamond drilling program at the Hook Lake Uranium Project. The Hook Lake Project is located in the world class uranium province, the Athabasca Basin in Saskatchewan, Canada. The Hook Lake Project Diamond Drilling program will consist of approximately 2,500m targeted primarily at the S-Zone but also including holes at the V-Grid target. Annonce • Jan 19
Valor Resources Limited Provides an Update on the it's Picha Project in Peru Valor Resources Limited provided an update on the Company's Picha Project in Peru. Following the successful 2021 exploration program, the landholding of the Picha Project has been increased to 200km2 with the application for four new mining concessions to the northeast. These concessions include the new target area of Chullunquaini, where historical mine workings are located. In addition to the new application areas, nine mining concessions havenow been granted, with on-ground exploration now permitted to commence in these areas. The nine concessions granted cover an area of 78km2. Fieldwork is expected to commence in these areas in the nextquarter which will initially include reconnaissance geological mapping and geochemical surface sampling. The remaining seven mining concessions applied for in 2021 which cover the target areas of Huancune, where sulphides have been observed within a breccia, and the newly identified targets, Ichucollo and Occsani are expected to be granted this year Data from the Induced Polarisation (IP) and ground magnetic surveys completed in December last year iscurrently being reviewed and interpreted. This includes the development of a 3D geological model to assist with drillhole targeting. The permitting process for the drilling program later in the year is well underway. An archaeology study has been completed and the report submitted to government. The Environmental study is set to commence later this month. Annonce • Dec 19
Valor Resources Limited Provides an Update on Assay Results Received from the Geochemical Surface Sampling Program Valor Resources Limited provide an update on assay results received from the geochemical surface sampling program completed in November and the ongoing ground geophysical survey at the Company's Picha Project in Peru. Assay results have been received for a further 123 samples which are the final samples from the Company's 2021 field program at the Picha Project. The latest assay results have further extended the area of surface mineralisation at the Cumbre Coya, Maricate and Fundicion target areas The ground geophysical surveys are continuing with the ground magneticsurvey completed and the Induced Polarisation (IP) survey around 70% completed. Further preliminary results have been received from the IP survey which indicate the southward continuation of a significant chargeability anomaly at depth. The Induced Polarisation (IP) survey currently underway is approximately 68% completed (38.5 line km out of 57 line km completed) and expected to be completed later in December. The survey is initially being completed on 400m spaced lines in an east-west orientation and then infilled at 200m in areas of interest. The survey methodology is a pole-multi-dipole configuration, with dipole spacings of 100, 200, 300 and 400m, and is designed to reach a greater depth than previous IP surveys. Aground magnetic survey totaling 204 line km has also been completed as part of the IP survey and data from this survey is currently being compiled and processed. Annonce • Dec 09
Valor Resources Limited Announces Drilling Program Mobilisation Commenced at Hook Lake Project Valor Resources Limited (Valor) announced the signing of a drilling contract with Major Drilling Group International for the Hook Lake Project. Drilling is proposed to commence in the first week of January with a minimum of 2,500m which will be the Company's maiden drilling program at the Hook Lake Project. Camp construction, contracted to Discovery Mining Services, has commenced. The camp will form the base for the Company's winter 2022 activities at Hook Lake. Dahrouge Geological Consultants will oversee the drilling campaign and have been a key in supporting the Company in preparing for the upcoming program. Further work is currently underway to finalise the drillhole locations however a diamond drilling program comprising approximately 10-15 drill holes of 200-250m depth is currently proposed. The drill targets at Hook Lake are highlighted by the S Zone target where surface sampling by Valor returned assays of up to 59.2% U3O8, as reported in the ASX announcement dated 31 August 2021 titled "High-Grade Hook Lake Uranium-Rare Earth-Silver-Lead Results". The on-site exploration work is being managed by Dahrouge Geological Consulting Ltd., of Edmonton, Alberta, Canada with the geophysical compilation and interpretation being carried out by Terra Resources Pty Ltd. of Perth, Australia. Annonce • Jun 10
Valor Resources Limited (ASX:VAL) agreed to acquire an additional 2 mining concessions in the Picha Project area Valor Resources Limited (ASX:VAL) agreed to acquire an additional 2 mining concessions in the Picha Project area on June 10, 2021. Annonce • Jun 02
Valor Resources Limited Announces Peru Copper Silver Project Initial Assays Deliver Multiple Significant High Grade Results Valor Resources Limited announced that, further to the ASX Release dated May 20, 2021, ("Peru Copper Silver Project update"), the field work portion of the initial project review has been completed. Solimana Gold SAC (Solimana), geological consultants on the project, completed their technical site visit to each of the five main exploration target areas, successfully obtained rock samples from each area delivering outstanding results which the company will follow up immediately. The Picha project consists of 4 granted mining concessions covering 2,000 hectares. It is located 127km SW of the City of Juliaca, in southern Peru, and near the village of Jesus Maria in the San Antonio de Esquilache district, province of Sanchez Cerro and the Moquegua department. Regionally, the Picha property is located within the Tertiary volcanic belt of southern Peru that hosts numerous important ore deposits. In the Arequipa department, major examples include Orcopampa, Arcata, Ares, Caylloma and Sukuytambo. In the SE of the Cusco department is the polymetallic silver rich district of Condoroma and in Puno department is the Berenguela district rich in silver and copper. About 14km to the ENE of the property is the old San Antonio de Esquilache polymetallic silverrich mining district. The property is 17km from the Chucapaca coppersilvergold deposit that hosts a resource of 7.5 million gold equivalent ounces. (Valor announcement 23rd May 2016). Picha is also in the NW extension of the Tucari and Santa Rosa high sulfidation systems and in the SE extension of the skarnprophyry belt that hosts the Tintaya district. The oldest rocks of the area are a sequence of folded and faulted marine sediments consisting of limestones, shales, quartzites and arkosic sandstones of the Lagunillas Group (JurassicCretaceous), but there are also quartzites of the Tantacollo Formation. The volcanic activity in the area started with the Miocene Tacaza Group (±1000m thickness). This sequence, separated from the underlying sedimentary rocks by an angular unconformity, is composed of andesitic lavas and breccias, basalts and dacites with some pyroclastics. It outcrops in central parts of the Picha property. Overlaying the Tacaza Group on an angular unconformity are siltstones, sandstones, shales. impure limestones with interbedded felsic to intermediate volcanics and reworked tuffs of the ±1700m thick Middle to Late Miocene Maure Group. These are the most abundant rocks on the project area. The andesitic lavas and tuffs of the ±700m thick Pleistocene Barroso Group conformably overlie both the Tacaza and the Maure Groups and are found in the northern part of the region. Intrusive activity during the Miocene emplaced many small stocks of porphyritic andesite, quartz feldspar porphyry, rhyolite, porphyritic microdiorite and diorite within the Pichacani map area. Some of the intrusions are up to 6km long and 2km wide. Major structural fault lineaments strike NWSE and control the windows of Mesozoic sediments in contact with the Tacaza volcanics, and also the location of intrusive rocks. Annonce • Mar 03
Valor Resources Limited Enters into an Agreement with Terralogic Exploration Inc. to Provide Mineral Exploration Services on Its Hook Lake and Cluff Lake Uranium Projects Valor Resources Limited has entered into an Agreement with TerraLogic Exploration Inc. to provide mineral exploration services on its Hook Lake and Cluff Lake uranium projects located in the Athabasca Basin area of Saskatchewan. The first phase of exploration work will be an airborne geophysical survey over the Company's Hook Lake Project. TerraLogic is currently finalizing the flight grid and technical parameters for the survey and soliciting quotes from airborne contractors with contracts anticipated to be finalized in early March. The Hook Lake Project consists of 16 contiguous mining claims covering 25,846 hectares, located 60km east of the Key Lake Uranium Mine in northern Saskatchewan. In conjunction with the new airborne survey, Valor is also compiling and reinterpreting data and results from previous exploration work on the property. Based on the results of the Phase I airborne survey and a review of the historical data, Valor expects to implement the Phase II ground work program in June/July 2021. Details of this work will be the subject of forthcoming announcements but is likely to include further ground geophysics as well as geochemical surveys, geological mapping and surface prospecting designed to delineate drill targets for the Phase III program. Annonce • Nov 09
Valor Resources Limited Completes Documentation Required to Transfer the Entities Which Hold Rights to the Berenguela Project Valor Resources Limited announced had completed the documentation required to transfer the entities which hold rights to the Berenguela Project back to SSR Mining Limited (SSR) on terms where the consideration for the transfer is the release and discharge of Valor's acquisition obligations including the release of outstanding amounts of $10.8 million owed to SSR and relevant security interests. Settlement of the transfer has now completed and Valor has no further interests in the Berenguela Project. Valor's continues to holds the rights to the Picha & Berenguela South Projects located in the Moquegua Department of Peru through its 100% owned Peruvian subsidiary, Kiwanda SAC. Valor intends to continue its focus on developing the exploration potential of its 100% owned Berenguela South and Picha Projects however during the quarter a strict Covid-19 lock-down regime was applied in Peru preventing any substantive mining exploration activities being undertaken. Desktop studies have continued with the emphasis on facilitating a re-start of field activities as soon as circumstances allow. Annonce • Jul 30
Nu-Fortune Gold Limited completed the acquisition of 50% stake in Radio Gold Project from Valor Resources Limited (ASX:VAL) for AUD 0.88 million. Nu-Fortune Gold Limited signed a conditional sale agreement to acquire 50% stake in Radio Gold Project from Valor Resources Limited (ASX:VAL) for AUD 0.9 million on April 14, 2020. Under the terms of the Agreement, Valor will be paid consideration of AU 0.9 million, AUD 0.75 million in the following two tranches, AUD 0.05 million deposit which has been received; and subject to satisfaction of the conditions precedent AUD 0.7 million payable within 30 days of the agreement being executed. AUD 0.05 million within 3 days of completion, AUD 0.05 million within 30 days of completion and AUD 0.05 million within 60 days of completion. In related transaction, Nu-Fortune Gold Limited agreed to acquire remaining 50% stake in Radio Gold from Resources & Energy Group Limited (ASX:REZ) for AUD 1.5 million on April 14, 2020. Upon completion of the transaction, Valor and Resources & Energy Group Limited will no longer hold any interests in the Radio Gold tenements or Project.
Completion is subject to due diligence, deed of termination being executed by all parties that the farm-in agreement is terminated and Nu-Fortune Gold Limited and Resources & Energy Group Limited entering into a sale and purchase agreement for the balance of the project tenements not owned by Valor.
Nu-Fortune Gold Limited completed the acquisition of 50% stake in Radio Gold Project from Valor Resources Limited (ASX:VAL) for AUD 0.88 million on May 25, 2020. Valor subsequently negotiated with the Nu-Fortune Gold to pay the AUD 0.15 million in exchange for AUD 0.02 million. Total consideration of AUD 0.88 million has now been received. 