Valhalla Resources Ltd.

Valhalla Resources Ltd.

June 13, 2012 11:24 ET

Valhalla Announces New Board Additions

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 13, 2012) - Valhalla Resources Ltd. (TSX VENTURE:VH) ("Valhalla" or the "Company") is pleased to announce two additions to its Board of Directors. Under the terms of the Strategic Alliance Agreement (see NR#4), Kenz Mining is permitted two seats on the Company's Board. Valhalla is pleased to welcome Mr. Firat Gulgen, Chairman and majority shareholder of Kenz Mining and Mr. Ibrahim Ata Ferhatoglu, Managing Director of Kenz Mining.

Mr. Gulgen is the Founder and Chairman of Calinos Holdings A.S. ("Calinos"), a multinational media group based in Turkey. Calinos is responsible for approximately 75% of the distribution of Turkish television and movies, and is active in the export of Turkish television programs and other media to over 70 countries.

Mr. Ferhatoglu is a Turkish-born geologist with over 24 years of experience in mineral exploration and industrial minerals, including working for Anglo American Plc. For the last two years Mr. Ferhatoglu has worked as Kenz Mining's Country Manager managing exploration and the operation of all its mineral projects.

In addition, at Valhalla's most recent board meeting that ratified these appointments, the position of Chief Executive Officer has been passed from Adrian Fleming to Stacy Quinney. Mr. Quinney will conduct the responsibilities of the role of CEO on a full time basis for the company. Mr. Fleming will remain as an Independent Director of the Company.

Valhalla would also like to thank Mr. Rob McLeod for his services as Director of the Company. Mr. McLeod stepped down to allow room on the board for the appointment of Mr. Gulgen and Mr. Ferhatoglu. The Company will continue to benefit greatly from Mr. McLeod's geological experience as he serves as Technical Advisor to Valhalla on an ongoing basis.

About Valhalla Resources Ltd.:

Valhalla Resources is a Canadian mineral exploration company focusing on the discovery and development of base and precious metal opportunities in Turkey and Romania. Its principal assets are the Sarp Properties in Northwestern Turkey. In addition, the Company is evaluating numerous opportunities throughout the Tethyan Mineral Belt which traverses Eastern Europe and Asia and plays host to a number of world-class gold and copper deposits.

About Kenz Madencilik Sanayi Ve Ticaret Limited Şirketi ("Kenz Mining"):

In 2010, Calinos Holdings established a minerals division under the name Kenz Madencilik A.S. Kenz Mining is headquartered in Istanbul and has a branch office in Ankara. It has interests in metallic and industrial minerals exploration, development and mining.

Kenz Mining holds 6,500,000 common shares of Valhalla (15.2% of Valhalla's outstanding shares) having purchased common shares in Valhalla through private placements and in the Initial Public Offering completed in December, 2011.


Joel Hayes, President & Director

Caution Regarding Forward-Looking Information

This news release includes certain forward-looking statements within the meaning of Canadian securities laws. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed in such forward-looking statements. Forward-looking statements in this news release, include, but are not limited to, the fact that completion of the Private Placement is subject to a number of customary closing conditions, including receipt of the approval of Valhalla's shareholders and approval of the Exchange, economic performance, future plans and objectives of the Company and the other factors discussed under the heading "Risk Factors" in the Company's Management's Discussion and Analysis for the year ended November 30, 2011 and in other continuous disclosure filings made by the Company with Canadian securities regulatory authorities and available at Any number of important factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although Valhalla believes that the assumptions and factors used in making the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed timeframe or at all. Valhalla disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider) as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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