Significant Uranium Target Defined At Surprise Creek Fault With Extensive Surface Mineralisation

Valor Resources Limited (Valor) or (the Company) (ASX: VAL) is pleased to advise that follow-up field work has further enhanced the potential of its 100%-owned Surprise Creek Uranium Project, located near the Beaverlodge Uranium District in northern Saskatchewan, Canada.

• Area of recently discovered surface uranium mineralisation at Surprise Creek extended to nearly 400m strike length at the Surprise Creek Fault target based on results from a follow-up field program completed in October.
• Field program uncovers five showings with maximum scintillometer readings of 65,535 cps1 and several more with over 10,000 cps1.
• The field program comprised mainly geological mapping and geochemical sampling in the Surprise Creek Fault area as a follow-up to reconnaissance work completed in July which returned several rock chips with assays >1% U3O8 and up to 6.13% U3O8 and 1.03% Cu.
• Geological mapping confirms proximity to mineralisation of an unconformity and a spatial association with the north-south trending Surprise Creek Fault, highlighting strong geological similarities with significant uranium deposits in the Beaverlodge Uranium District such as Fay-Ace and Gunnar.
• 50 rock chip samples collected from across the Project, including 31 samples from the Surprise Creek Fault area, with assay results expected later in the December Quarter.
• The Company is targeting structurally-controlled vein type uranium deposits at Surprise Creek, a sub-type of the basement-hosted unconformity-related uranium deposits.

The field program mainly comprised 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 (see ASX announcement dated 13 October 2022 titled “Exceptional Uranium and Copper rock chip results”).

The latest results have successfully extended the area of surface uranium mineralisation at Surprise Creek Fault to nearly 400m strike length, uncovering five showings with maximum scintillometer readings of 65,535 cps and several more with over 10,000 cps1.

Final assay results for the latest round of sampling are expected within 4-6 weeks.

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