Valhalla Metals Provides an Update on the Ambler Access Road
Valhalla Metals Provides an Update on the
Ambler Access Road
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:
https://valhallametals.com/wp-
content/uploads/2023/02/press-release-allakaket-huslia-withdraw-from-aap-lawsuit-feb-16-2023.pdf
Link to the Anchorage Daily News article:
https://www.adn.com/alaska-news/rural-alaska/2023/02/16/2-
tribes-are-withdrawing-from-lawsuit-against-proposed-ambler-road-in-alaska/
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
www.valhallametals.com
.
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
Email:
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/155493