XPEDRA RESOURCES LIMITED — Capital/Financing Update 2017

Oct 1, 2017

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ASX Release

2 October 2017

VALOR RESOURCES LIMITED ACN 076 390 451

22 Lindsay Street PERTH, WA Australia

Tel: +61 8 9200 3467 Fax: +61 8 9227 6390

PLACEMENT TO SOPHISTICATED INVESTORS

Valor Resources Limited (‘the Company’) is pleased to announce the successful allotment of the placement to sophisticated investors as announced on 19 September 2017 (‘the Placement’). CPS Capital Group Pty Ltd acted as Lead Manager and Broker to the Placement.

The Placement consists of 125,000,000 fully paid ordinary shares priced at $0.025 per share to raise $3,125,000 (before costs). The new shares under the Placement will be placed using the Company’s existing 15% placement capacity under ASX Listing Rule 7.1

The funds raised will be applied towards further works on the Berenguela Project and for working capital purposes.

Contact: Mr Mark Sumner

E-mail: info@valorresources.com.au

The Company confirms that in accordance with the terms of the acquisition of the Berenguela Project, the vendor, SSR Mining Inc (previously named Silver Standard Resources Inc) (‘SSR’), will be issued 14,232,831 shares to ensure SSR maintains voting power in the Company of 9.9% (on a fully diluted basis) post the Placement. These shares have also been placed using the Company’s existing 15% placement capacity under ASX Listing Rule 7.1.

Directors

Mr Mark Sumner Mr Brian McMaster Ms Paula Cowan

Company Secretary

Ms Kelly Moore Ms Paula Cowan

ASX Code :

VAL

The Company is also issuing 1,244,240 Shares in consideration for services provided to the Company in regards to the Berenguela Project drilling program. These shares have also been placed using the Company’s existing 15% placement capacity under ASX Listing Rule 7.1.

For further information please contact:

Kelly Moore

Company Secretary