Vancouver, British Columbia--(Newsfile Corp. - April 17, 2024) - Valhalla Metals Inc. (TSXV: VMXX) (OTCQB: VMXXF) ("Valhalla" or the "Company") is providing an update on the Ambler Mining District 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 and to ensure a secure domestic supply chains for these metals.
On April 16, 2024, AIDEA - the Alaska Industrial Development and Export Authority issued a press release in response to anonymously leaked (by the DOI) media reports indicating the Department of Interior plans to block access to the Ambler Mining District by issuing a "no action alternative" decision. In its press release, AIDEA strongly urges the Department of Interior to comply with federal law and the promises made at statehood to allow access to state lands and minerals for the Ambler Access Road Project.
AIDEA's press release can be found on their website at https://www.aidea.org/About/News-Publications/Press-Releases
Rick Van Nieuwenhuyse, Valhalla's Chairman stated: "We are extremely disappointed in the Department of Interiors (DOI) decision to choose the No Action Alternative. The Alaska National Interest Lands Claims Act (ANILCA) guarantees access be provided by the DOI - the language is very clear: "Congress finds that there is a need for access for surface transportation purposes across the Western (Kobuk River) unit of the Gates of the Arctic National Preserve (from the Ambler Mining District to the Alaska Pipeline Haul Road) and the Secretary shall permit access in accordance with the provisions of this subsection" (emphasis added - ANILCA Section 201, 4 (b)). For the BLM to deny access is blatantly ignoring federal law. For an Administration that talks about the importance of a domestic supply of Critical Metals, the importance of secure domestic Supply Chains and mandates to transition to a Green Energy and Transportation future, this decision makes no sense. Instead, they should be listening to the people who live in the Kobuk and Koyukuk regions who want jobs and who want a better and sustainable future for their children. Instead they listen to anti-mining groups outside of Alaska. Frankly, I am disgusted."
Valhalla Metals plans to confer with AIDEA and other State Officials to pursue a legal path forward to uphold our rights to mine and the rights granted to the State through ANILCA and the Statehood Act to develop the minerals in the Ambler Mining District. This is an egregious and deceitful decision by a Federal Agency.
About Valhalla Metals
Valhalla Metals Inc. is a mineral exploration and development company focused on the advancement of its mineral projects towards feasibility. Valhalla's flagship project is the Sun copper-zinc-lead-gold-silver VMS projects located in Ambler Mining District, Northwest Alaska. The Company also owns the Smucker project, a high-quality copper-zinc-lead-gold-silver VMS project located in the Ambler Mining District, Northwest Alaska. Valhalla Metals Inc. shares trade on the TSX-V under the ticker symbol VMXX and OTCQB under the ticker symbol VMXXF. For more information about Valhalla, please visit our website at www.valhallametals.com.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
For more information on the Company, please contact Valhalla Metals Inc.
Sorin Posescu, Chief Executive Officer
Email: [email protected]
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", "plan", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/205833