Ann: Contractor Secured for Berenguela 2018 Drilling Program, page-2

Valor Resources Limited (“VAL” or the “Company”, ASX: VAL) is pleased to announce the execution of a letter of intent with drilling contractor AKD Drilling, a Lima, Peru based drilling company, to carry out Valor’s planned follow on 2018 drilling program at the flagship Berenguela Copper-Silver Project. The follow on drilling program is anticipated to commence at Berenguela in early 2018 with a number of high priority targets identified. Highlights: • 2017 drilling program delivered extraordinary results across the Berenguela deposit. • Numerous high grade intercepts expanding the Berenguela resource shell and delineating a new series of resource expansion drill targets. • Deposit is open along the North, West and Southeast borders with high grade targets in the 2018 drilling program focused on expanding the resource and extending the strike length. • Central zone targets in the 2018 drilling program, focused on delivering further high grade results and expanding the resource at depth. Management Commentary Valor Chairman, Mark Sumner said: “The results from our recently completed 2017 drilling program at Berenguela are very encouraging and clearly indicate that we have a fantastic ore body. We have expanded the total resources by over 18% and increased copper grades from 0.87% to over 1%, which clearly illustrates the quality of the drill results. “The 2017 drilling program has provided significant support for additional drilling, with numerous high grade drill targets along the western border, northern border, central zone and southeastern border, which we believe will expand the resource further. “We are completing the design of the follow on 2018 drilling program and we will inform the market further as we progress. Securing a dedicated drilling contractor that is well known to the Company and can execute a drilling program efficiently and cost effectively is a key first step in unlocking further value from Berenguela. We are confident that we are only in the very early stages of defining what is a very large copper and silver resource.