JORC RESOURCE ESTIMATE UPDATE FOR BERENGUELA Valor Resources...

JORC RESOURCE ESTIMATE UPDATE FOR BERENGUELA Valor Resources Limited (“VAL” or the “Company”, ASX: VAL) is pleased to report a substantial increase in the JORC Mineral Resource Estimate for the flagship Berenguela Copper-Silver Project in Southern Peru. Resource Estimate Highlights: • Mineral Resources are reported with a cut-off grade of 0.50% CuEq after a re-conceptualised project model focused on copper. • 44% Increase in total Indicated Resources, representing an increase of over 7 million tonnes. • 18% Increase in total Indicated and Inferred Resources, representing an increase of over 4 million tonnes. Copper Highlights: • 36% Increase in Total Contained Copper, from 415 million pounds to 564 million pounds in Indicated and Inferred Categories. • 9% Increase in Copper Grades in Indicated Category, representing an increase from 0.92% to over 1% Cu. • 15% Increase in Copper Grades in Indicated and Inferred Categories, representing an increase from 0.87% to over 1% Cu. Silver Highlights: • 6% Increase in Silver Resources in Indicated and Inferred Categories, representing an increase of 5 million ounces. • Updated Resource of 93 million ounces of total contained Silver Resources. Zinc Highlights: • Maiden Zinc Resource Estimate of 192 million pounds of Zinc in Indicated and Inferred categories. Updated JORC (2012) Resource Table (2017): Category Tonnes (mil) Ag Grade (g/t) Cu Grade (%) Mn Grade (%) Zn Grade (%) CuEq (%) Indicated 22.61 113.91 1.002 9.93 0.36 1.727 Inferred 2.92 105.70 1.010 6.72 0.23 1.633 TOTAL 25.53 112.97 1.003 9.56 0.35 1.716 *Cut-Off Grade: 0.50% CuEq Total Contained Copper: 564 million pounds Total Contained Silver: 93 million ounces Total Contained Zinc: 197 million pounds Additional Highlights: • High grade copper extensions returned in the 2017 drilling program have positioned copper as the primary economic driver of Berenguela. • Considerable value still to be added with further assessment of mineralised extensions in the North and South East of the deposit. Management Commentary Commenting on the updated JORC Resource for Berenguela, Valor Chairman, Mark Sumner stated: “The value added to the Berenguela project after a modest ~$2.3 million spend is indeed significant for Valor and our shareholders. We have added over 7 million tonnes to the Indicated Resources, while increasing copper grades to an average of over 1% Cu and copper equivalent grades in excess of 1.7% CuEq. Along with the increases in the Inferred category, we have added over 149 million pounds of contained copper to the project’s total Resources. Berenguela’s silver resources are also approaching 100 million ounces, making Berenguela a very significant and exceptionally high grade silver project in its own right. The addition of over 197 million pounds in the maiden zinc resource, also lends a significant value to the deposit. Collectively, each of the upgrades in tonnage, as well as grades, represents a substantial increase in the project’s value.” “We are now working from a much larger Resource base and have numerous high-value drill targets in our sites which will undoubtedly enhance the value of Berenguela even further. We are only just starting to realise the project’s value which will become evident as we release a steady flow of updates on exploration and project development initiatives that are ongoing.” Resource Summary The Berenguela project is an advanced stage copper-silver exploration asset, located in the Puno Department of southeastern Peru. Berenguela has an extensive exploration history, which includes over 30,000 meters of drilling, extensive sampling and metallurgical work. The maiden resource estimate for Berenguela was reported in 2005, under National Instrument 43-101 (NI 43- 101), by Silver Standard Resources.