Mr. Chris Donaldson reports

VALKEA RESOURCES RETAINS 100% OWNERSHIP OF PALVANEN PROJECT IN THE HIGHLY PROSPECTIVE CENTRAL LAPLAND GREENSTONE BELT, FINLAND

Valkea Resources Corp. will retain 100-per-cent ownership of the Palvanen project in the Central Lapland greenstone belt, Finland. Kinross Gold Corp. has elected not to proceed with stage 2 commitments of the earn-in agreement signed between S2 Resources Ltd. and Kinross in June, 2021.

"Since 2021, Kinross invested over $5-million on exploration across the Palvanen project, which is strategically located just south of and contiguous to Agnico Eagle's Kittila mine and B2Gold's projects," commented Chris Donaldson, chief executive officer of Valkea. "Importantly, the conclusion of the agreement also ends Kinross's right of first refusal (ROFR) on Valkea's flagship Paana project and the Aarnivalkea discovery. As a result, Valkea retains full control and ownership of both the Palvanen and Paana projects, providing greater flexibility for the company's exploration and development strategies going forward."

Palvanen project

Since signing the agreement with S2 Resources Ltd. in 2021, Kinross financed approximately $5.4-million on exploration across the project. Exploration activities included the acquisition of project-wide, high-resolution geophysical data which focused the collection of over 4,900 base of till samples. These data generated 15 target areas considered prospective for gold mineralization, resulting in over 8,000 metres of diamond drilling. The top-ranked Piekka target is centred approximately five kilometres (km) southwest of Agnico Eagle's Kittila mine.

Valkea is now compiling and assessing all of Kinross' exploration data to determine whether to explore the Palvanen project independently or to seek a new partner to finance additional and warranted targeted drill programs. Valkea's goal is to maximize the project's potential while aligning with its broader exploration and development objectives in the Central Lapland greenstone belt.

For Kinross to have earned 70-per-cent interest in the project, it was required to spend an additional approximate $4-million on exploration in stage 2. Kinross notified the company that it will not proceed to stage 2. Valkea therefore retains 100-per-cent control and ownership of the Palvanen project. Furthermore, title ownership in two adjacent tenements to Palvanen (Kehravarsi and Kevuvuoma), currently owned by Kinross gold, will be transferred to Valkea's wholly owned subsidiary, Sakumpo Oy. Kinross's ROFR over the company's flagship Paana project with the Aarnivalkea discovery will be also terminated.

About Valkea Resources Corp.

Valkea is at the forefront of gold exploration in Finland's highly prospective Central Lapland greenstone belt. With an extensive portfolio of high-potential projects, including the flagship Paana project, Valkea Resources is committed to discovering and advancing significant gold deposits in one of the world's emerging gold districts.

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