Valhalla Commences Exploration at the Demirdere Au-Cu-Fe Project, Turkey

Valhalla Resources is pleased to annouwhat can feldspar be used fornce that a surface mapping, soil sampling and trenching program has commenced on the Company's Demirdere gold-copper-iron prospect. Demirdere is part of Valhalla's 18,567 hectare Sarp Property located in Northwest Turkey.

The Demirdere Prospect is centered on an iron-copper-gold skarn system, with multiple historic small-scale mines and smelting dating back to antiquity. High-grade gold in grab samples suggest that areas of the magnetite rich skarn have been overprinted by an epithermal gold system.

During a 2005 recon program a grab sample of magnetite skarn returned 38.9g/t Au, which was partly duplicated by Valhalla personnel with an 18.6 g/t Au sample at the same location in 2010. This sample location is within a northeast-southwest gold and copper soil anomaly.

Limited modern exploration has been conducted at Demirdere. In the late 1970's and early 1980's, the Turkish Geological Survey drilled 5 shallow core holes testing the magnetite skarn, which were only assayed for iron content. Core samples found in poor condition at MTA's core shed in Ankara were partly logged and assayed by Valhalla in 2008.

Two select samples of core returned 1.98g/t Au with 2.25% Cu, and 1.79g/t Au with 0.7% Cu. Other select samples detected anomalous gold and copper from 13 samples that assayed between 30.0% and 49.0% Fe, averaging 41.07% Fe. Complete core lengths and assay composites are not known due to the poor condition of the historic drill core.

These results indicated the presence of gold and copper in the system and were confirmed by a 2009 soil sampling survey completed over an area covering 1.5 km2. The soil grid was completed on 100m sample intervals. Within the anomaly, 12 samples ranged between 0.1 and 1.02 g/t Au averaging 0.3 g/t Au.

The anomaly follows a northeast-southwest trend, is 1.1km long by 100m and 350m in width, is coincident with a magnetic high, and is open for expansion to the southwest off the grid. Additionally, copper values form a similar orientation with six samples ranging from 0.1% to 0.968% Cu and the anomaly is open for expansion to the northeast and southwest.

A detailed ground magnetic survey at Demirdere suggests strong correlation between magnetic highs and the coincident gold-copper in soil anomaly. Magnetic data contain single point anomalies up to 47,000nT with the heart of the anomaly between 2,000 and 7,000nT.

Permits have now been received by the Company for a trenching program totalling up to 2,000 meters with the objective of identifying drill targets. In addition, Valhalla will complete geological mapping, and expand the existing soil grid. The trenching program is expected to take 4-6 weeks to complete.