Valleyview Acquires Key Coyote Basin & Red Wash Exploration Dataset

Vancouver, British Columbia--(Newsfile Corp. - December 10, 2024) - Valleyview Resources Ltd. (TSXV: VVR) ("Valleyview" or the "Company") is pleased to announce that it has purchased a historical uranium exploration dataset that includes exploration reports, surface sampling, geological mapping, geophysical surveys, and drill hole information for the Coyote Basin and Red Wash Projects. The Company is currently in the process of completing a transaction to acquire both the Coyote Basin and Red Wash Projects through its acquisition of Shift Rare Metals Inc. (see the Company's news release dated August 27, 2024 on SEDAR+ at https://www.sedarplus.ca). The acquisition of the dataset was made from a private vendor.

The dataset includes exploration efforts completed by previous operators of the Coyote Basin and Red Wash projects, including work completed by Western Mining Resources ("WMR") in the 1970s and Energy Metals Inc in the 2000s. WMR's historical uranium resource estimate of the Coyote Basin Project of 8,850,000 tons averaging 0.20% U₃O₈ and 0.10% V₂O₅ equaling 35.4 M lbs of U₃O₈ and 17.7 M lbs of V₂0₅ was disclosed in Energy Metals' September 30, 2006 Management and Discussion and Analysis included in its' SEC quarterly filings (see https://www.sec.gov/Archives/edgar/data/1361605/000106299306003601/exhibit99-2.htm). The acquired dataset contains the key information used by WRM to calculate the historical resource estimate.

The Company is not treating the WMR historical resource estimate disclosed by Energy Metals Inc. in their SEC filings in 2006 as a current mineral resource and the reader is cautioned not to rely on it. The Company has not completed the work necessary to independently verify the classification of this historical resource estimate and is not treating the mineral resource estimate as conforming to the requirements of National Instrument 43-101. The Coyote Basin Project and any future NI 43-101 resource estimate will require considerable further evaluation, which the Company's management intends to carry out in due course.

We have always believed that additional drilling at Coyote Basin would be necessary to tighten up the spacing between WMR's historical holes before an updated resource estimate could be completed. The acquisition of this dataset accurately confirms the location of the known uranium mineralization and allows the Company to focus its initial exploration efforts on developing an efficient exploration program that will accelerate the process of delineating the Coyote Basin Uranium Deposit leading to an updated uranium resource estimate that conforms to NI 43-101 requirements.

--- Roger Lemaitre, President & CEO

The scientific and technical information in this news release has been reviewed and approved by Roger Lemaitre, P. Eng, P. Geo, the Company's President & Chief Executive Officer and a Qualified Person (as defined in National Instrument 43-101- Standards of Disclosure for Mineral Projects).

About Valleyview Resources Ltd.

Valleyview Resources Ltd. is a mineral exploration company focused on becoming a premier US-focused and resource-bearing uranium explorer and developer. The Company is in the process of acquiring the Coyote Basin and Red Wash uranium projects in northwestern Colorado. Valleyview also has an ownership stake in the Fraser Lake Au-Ag-Cu project in British Columbia.

For further information, please contact:

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

This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements with respect to a proposed updated mineral estimate for the Coyote Basin Project.

In making the forward-looking statements included in this news release, the Company has applied several material assumptions, including that the Company's financial condition and development plans do not change as a result of unforeseen events and that future metal prices and the demand and market outlook for metals will remain stable or improve. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the general risk factors related to exploration and development as are set out under the heading "Risk Factors" in the Company's most recently filed management's discussion & analysis.

There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/233127