Valhalla Metals Provides an Update on the Ambler Access Road

February 21, 2023 9:00 AM EST | Source: Valhalla Metals Inc.

Vancouver, British Columbia--(Newsfile Corp. - February 21, 2023) - Valhalla Metals Inc. (TSXV: VMXX) ("Valhalla" or the "Company") is pleased to provide an update on the Ambler Mining District Access Road.

The Allakaket Tribal Council and Huslia Tribal Council of Alaska announced on February 16, 2023 that they voted unanimously to withdraw from the Ambler Access Project lawsuit. The lawsuit was originally filed by the Tanana Chiefs Conference and several tribes against the Department of Interior in 2020 and challenged the Ambler Access Project's Final Environmental Impact Statement and Joint Record of Decision. The Ambler Access Project is the proposed 211-mile, industrial-use-only road from the Ambler Mining District to the Dalton Highway (Ambler Access Road).

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

Second Chief Gordon Bergman of the Allakaket Village Council stated: "Our council and community have considered the both the concerns and potential benefits from the responsible development of our lands. We believe it's important to recognize that we now walk in two worlds - continuing to respect and value our culture and subsistence lifestyles while also embracing the opportunity for economic growth and stability for our people through higher education and jobs."

Chief Carl Burgett of Huslia stated: "The Ambler Access Project and the development of the Ambler Mining District has the potential to provide not only jobs, but also the critical minerals necessary for our national security. We should not depend on foreign sources of these minerals when they can be developed more responsibly on our lands, to the benefit of our people and the entire nation."

Rick Van Nieuwenhuyse, Valhalla's Chairman, stated: "The Ambler Mining District is a treasure trove of metals critical for the net-zero transition of the energy and transportation future. We welcome engagement with the tribes of the Koyukuk River region to create a plan to develop the Ambler Mining District in a way that preserves traditional values and brings jobs to the region. Alaska has a demonstrated track record of developing its resources in a manner that protects the environment and brings lasting benefits and opportunity to local communities. As our Governor is fond of saying: "Alaska has been doing ESG before it was a thing". Developing the Ambler Mining District is important for the Region, for the State of Alaska, for the Country and for the World. If we truly want a Net-Zero, carbon free future, we had better get started by mining metals in a place that does it right!"

The press release issued by the Tribal Councils can be viewed here:

Link to the Anchorage Daily News article:

Corporate Matters

Further to the News Release dated November 7, 2022 that, among other things, announced the approval by Valhalla's board of directors of a shares for debt transaction involving Sorin Posescu, the Company's CEO (the "Shares for Debt Transaction"), following the receipt of TSX Venture Exchange acceptance of the Shares for Debt Transaction, 285,000 subordinate voting shares of the Company were issued to MA2 Capital Inc., a corporation controlled by Mr. Posescu, effective December 12, 2022 at a deemed price per share of $0.50.

All securities issued pursuant to the Shares for Debt Transaction are subject to a statutory four-month hold period.

About Valhalla Metals

Valhalla Metals Inc. is a mineral exploration and development company focused on the advancement of its mineral projects towards feasibility. Valhalla owns two high quality copper-zinc-lead-gold-silver VMS projects located in Northwest Alaska, the Sun and Smucker Projects. Valhalla Metals Inc. shares trade on the TSX-V under the ticker symbol VMXX. For more information about Valhalla, please visit our website at

Forward-Looking Statements:

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

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

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

Sorin Posescu, Chief Executive Officer

To view the source version of this press release, please visit