Overview of Valor Resources' Acquisition of Hook Lake Uranium Project

Valor Resources Limited (ASX: $VAL) has completed the third and final anniversary payment to Skyhharbour Resources Limited (TSXV: SYH) under its farm-in agreement at the Hook Lake Uranium Project, securing an 80% interest. The company issued Skyharbour 31,750,000 shares and made a C$75,000 cash payment to complete the milestone. Valor has also fulfilled its expenditure commitments of C$3.5 million over a 3-year period, meeting exploration expenditure requirements under the agreement.

Executive Commentary on Hook Lake Uranium Project

Valor Executive Chairman, George Bauk, expressed his satisfaction with the completion of the significant earn-in milestone at Hook Lake, highlighting the project's attractiveness and the company's ownership of a valuable uranium asset. He emphasized the collaboration with joint venture partner Skyharbour and the plans for another drill program to advance the project further. Skyharbour President and CEO, Jordan Trimble, expressed excitement about the opportunity to work with Valor as a joint-venture partner and the potential for a new discovery with future drilling.

Summary of Valor Resources' Acquisition and Outlook

Valor Resources has secured an 80% interest in the highly prospective Hook Lake Uranium Project, located in northern Saskatchewan, Canada. The completion of the earn-in milestone marks a significant achievement for the company, positioning it as a major player in a world-class uranium exploration province. The project's proximity to recent high-grade discoveries and the strong uranium price backdrop present an outstanding exploration opportunity for Valor. The company's collaboration with Skyharbour and the plans for future drilling demonstrate a commitment to advancing the project. With multiple new uranium targets outlined and exploration programs planned for 2024, Valor is poised to unlock further value at the Hook Lake Uranium Project.