Val-d'Or Mining Announces the Creation of a Control Person

Disinterested shareholders have approved Lee's Control Person status, but final exchange acceptance remains pending.

Rhea-AI Summary

Val-d'Or Mining (VDOMF) announced that director Jimmy S.H. Lee acquired additional common shares, triggering a change of control under exchange policies. Lee now owns 27,965,999 common shares, representing approximately 24.4% of the company's issued and outstanding common shares, making him a Control Person under TSX Venture Exchange policy and applicable securities legislation.

His creation as a Control Person remains subject to final exchange acceptance. Disinterested shareholders approved his creation as a Control Person at the company's Annual General and Special Meeting on October 3, 2025. Further acquisition details are included in Lee's Early Warning Report and press release filed with securities regulators.

Positive

• Minor pointDisinterested shareholders approved Lee's creation as a Control Person on October 3, 2025.

Negative

• Minor pointLee's creation as a Control Person remains subject to final TSX Venture Exchange acceptance.

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Val-d'Or, Québec--(Newsfile Corp. - October 26, 2026) - Val-d'Or Mining Corporation (TSXV: VZZ) ("Val-d'Or Mining" or the "Company") announces that Jimmy S.H. Lee, a director of Val-d'Or Mining, has acquired ownership of additional common shares of the Company, increasing his holdings to 27,965,999 common shares representing approximately 24.4% of the issued and outstanding common shares of the Company, such that he has become a "Control Person" of Val-d'Or Mining in accordance with TSX Venture Exchange (the "Exchange") policy and applicable securities legislation. The acquisition of shares by Mr. Lee also resulted in a "Change of Control" in accordance with the policies of the Exchange. The creation of Mr. Lee as a Control Person is subject to final Exchange acceptance.

As required by the policies of the Exchange, Val-d'Or Mining sought and received disinterested shareholder approval of the creation of Mr. Lee as a Control Person at the Annual General and Special Meeting of Shareholders held by Val-d'Or Mining on October 3, 2025.

Further detail with respect to the share acquisition by Mr. Lee is included in the Early Warning Report and press release filed by Mr. Lee with securities regulators in accordance with early warning reporting obligations under applicable securities legislation.

About Val-d'Or Mining Corporation

Val-d'Or Mining Corporation is a junior natural resource issuer involved in the process of acquiring and exploring its diverse mineral property assets, most of which are situated in the Abitibi Greenstone Belt of NE Ontario and NW Québec. To complement its current property interests, the Company regularly evaluates new opportunities for staking and/or acquisitions. Outside of its principal regional focus in the Abitibi Greenstone Belt, the Company holds several other properties in Northern Québec (Nunavik) covering different geological environments and commodities (Ni-Cu-PGE's).

The Company has expertise in the identification and generation of new projects, and in early-stage exploration. The mineral commodities of interest are broad, and range from gold, copper-zinc-silver, nickel-copper-PGE to industrial and energy minerals. After the initial value creation in the 100%-owned, or majority-owned properties, the Company seeks option/joint venture partners with technical expertise and financial capacity to conduct more advanced exploration projects.

For additional information, please contact:

Glenn J. Mullan
2772 chemin Sullivan
Val-d'Or, Québec J9P 0B9
Tel.: 819-824-2808, x 204
Email: Glenn.Mullan@GroupZedZed.com

Forward-Looking Statements:

This news release contains certain statements that may be deemed "forward-looking statements." Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/321074

FAQ

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How many Val-d'Or Mining shares does Jimmy S.H. Lee own after becoming a Control Person?

Jimmy S.H. Lee owns 27,965,999 common shares, representing approximately 24.4% of Val-d'Or Mining's issued and outstanding common shares. His acquisition of additional shares also triggered a Change of Control under TSX Venture Exchange policies.