Valor Further Expands Surprise Creek Uranium Project With Strategic Acquisitions

Valor Resources Limited (Valor or the Company) (ASX: VAL) is pleased to advise 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.

HIGHLIGHTS

• Two new mineral claims covering an area of approximately 20km2 acquired north of the Surprise Creek Uranium Project, including another historical copper showing.
• Two claims have been acquired that are contiguous to existing claims.
• The new claims add to the significant copper and uranium potential of the Surprise Creek Project, with historical surface sampling results of up to 1.2% Cu at the Tazin Lake showing.

Figure 1: Surprise Creek Uranium and Copper Project – new land-holdings and mineral occurrences.

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.

The showings have strong geological similarities with the copper-only mineralisation located by Valor on its existing Surprise Creek claims, as outlined in the ASX announcement dated 11 August 2022 titled “Uranium and copper mineralisation identified at Surprise Creek”, as well as the historical copper occurrences of Bob Lake, Ellis Bay and Waterloo, as recently reported in the Company’s ASX announcement dated 13th February titled “Exciting new copper targets identified at Surprise Creek”.

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.

Valor Executive Chairman George Bauk commented: “The new claims we have acquired to the west of Uranium City and contiguous with our existing Surprise Creek Uranium Project cover an area that has lacked any significant exploration activity over the past 40 years. The Beaverlodge area played a significant role in the commencement of uranium production in Canada, particularly the Athabasca Basin. With major discoveries having been made on the eastern side of the Basin in more recent times, this area has been left behind.

“Our team is now working through the historical data, which includes significant copper results. This recent acquisition further expands our land-holding around the Surprise Creek Project area, which has had minimal exploration to date, especially over the past 40 years, despite the presence of widespread historical copper and uranium occurrences. We have already identified a significant uranium drill target at Surprise Creek Fault and, with some of the geophysical surveys that we are planning to undertake in 2023, we hope to identify further uranium and copper drill targets.”

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