Mr. Glenn Mullan reports

VAL-D'OR MINING CLOSES ON NSR PURCHASE AGREEMENT TRANSACTION

Further to Val-d'Or Mining Corp.'s news releases of May 30, 2023, June 29, 2023, and Aug. 28, 2023, Val-d'Or Mining Corp. has received final acceptance from the TSX Venture Exchange for the transactions contemplated under the NSR (net smelter return royalty) purchase agreement dated May 26, 2023, entered into with 2973090 Canada Inc. (a private company wholly owned and controlled by Glenn J. Mullan, a director and the chair, president and chief executive officer of the company) and Mr. Mullan. Pursuant to the NSR purchase agreement, the company has purchased and concurrently cancelled various net smelter return royalties. The company has issued an aggregate of 2,222,222 common shares in consideration for the purchase and cancellation of the net smelter return royalties as set out in the NSR Purchase Agreement.

The issuance of shares by the Company to 2973090 Canada Inc. and Glenn J. Mullan under the NSR Purchase Agreement constitutes a related party transaction pursuant to Exchange Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions. The NSR Purchase Agreement and transactions contemplated thereby were approved by disinterested shareholders at the Company's Annual General and Special Meeting held on September 8, 2023.

The common shares issued by the Company in accordance with the terms of the NSR Purchase Agreement are subject to a hold period of four months and one day from the date of issuance in accordance with applicable securities legislation and Exchange policy. No finder's fees were paid in connection with the transaction.

About Val-d'Or Mining Corporation

Val-d'Or Mining Corporation is a junior natural resource issuer involved in the process of acquiring and exploring its mineral property assets, most of which are situated in the Abitibi Greenstone Belt of NE Ontario and NW Quebec. To complement its current property interests, the Company regularly evaluates new opportunities for staking and/or acquisitions. Outside of its principal regional focus in the Abitibi Greenstone Belt, the Company holds several other properties in Northern Quebec (Nunavik) covering different geological environments and commodities (Ni-Cu-PGE's).

The Company has an expertise in the identification and generation of new projects, and in early-stage exploration. The mineral commodities of interest are broad, and range from gold, copper-zinc-silver, nickel-copper-PGE to industrial and energy minerals. After the initial value creation in the 100%-owned, or majority-owned properties, the Company seeks option/joint venture partners with the technical expertise and financial capacity to conduct more advanced exploration projects.

We seek Safe Harbor.