Vancouver, British Columbia--(Newsfile Corp. - August 31, 2023) - Valterra Resource Corporation (TSXV: VQA) ("Valterra" or the "Company") reports corporate changes and property acquisition status.

Corporate and Board of Director changes:

John Kerr, P. Eng. has been appointed President and Killian Ruby, CPA, CA, Director of the Company. Lawrence Page K. C. has resigned as President and will now serve as Chairman of the Board.

John graduated from the University of British Columbia with a BSc. degree in Geological Engineering. He has participated in the mining industry continuously since graduation as an exploration geologist. His expertise is ultramafic bodies and related mineral deposits located in all areas of Canada; epithermal and sedimentary-hosted precious metal deposits located in the southwest United States, porphyry deposits of the western Cordillera and VMS deposits located in all areas of North America. Mr. Kerr has served as a director of numerous public companies and is currently a director of Equity Metals Corp. (EQTY), Valterra Resource Corp (VQA), Bravada Gold Corp (BVA), Searchlight Resources Inc. (SCLT), and NV Gold Corp. (NVX) all listed on the TSX-V.

Killian Ruby has joined the board of directors. Killian is the President & CEO of Malaspina Consultants Inc. in Vancouver which focuses on clients in the resource and junior public sector. He is also the principal of the Manex Resource Group of Vancouver which provides administrative, financial, corporate, corporate finance and geological services to a number of public companies in the mineral resource sector. He holds a BSc. (Accounting) from University College Cork, Ireland, a Post-Graduate Diploma in Corporate Treasury from Dublin City University, Ireland, and received his Chartered Accountant designations from Canada and Ireland in 2010 and 2002, respectively. He is currently a director of Equity Metals Corporation, Lodestar Battery Metals and NEXE Innovations Inc.

Corporate name change; property acquisition. Valterra previously announced that it has entered into a non-binding letter of intent with CanAlaska Uranium Ltd. to earn up to an 80% interest in the Strong, Strong Extension, Moak North and Wilson Mineral Exploration Licenses in the Thompson Nickel Belt (TNB), Manitoba, collectively referred to as the Strong Project. A definitive agreement will be signed in due course.

In anticipation of this acquisition and to identify the entry of the Company into exploration and development of "energy metals", the Company proposes to change its name to Nickelex Resource Corporation. The property transaction and proposed name change are subject to TSX Venture Exchange approval.

Newly appointed President John Kerr stated, "We wish to thank Lawrence Page K. C. for serving as Valterra's President through some very trying times in the mining business. He has assisted the company in the acquisition and funding for the exploration of a number of projects that provided opportunities for future development. His continued support for the company as Chairman will be of great benefit."

As well, "We welcome both Killian to the Board and John to his role as President," added Lawrence Page. "The re-branding of the company will create a new image and investment opportunity, as we focus on the EV Battery sector. The TNB is the place to be for exploration and development of nickel resources. The location of the Strong Project is only 35 kilometers north of the Thompson Mine, the largest mine of the TNB, and is within the same geological lithologies."

About Valterra Resource Corporation

Valterra is a Malaspina/Manex Resource Group Company. The Group provides expertise in exploration, administration, and corporate development services for Valterra's operations:

Swift Katie gold/copper property is well located near Salmo, British Columbia in an area that has historically hosted several important mining districts and is underlain by rocks favourable for the discovery of both copper-gold porphyry deposits and high-grade gold quartz veins. Exploration to date has identified three separate Cu-Au deposits over an 1800 metre cumulative strike-length, and two prominent gold targets within a 2500-metre-long alteration zone which transects the southern part of the property. It is 100% owned.

Strong Project: Thompson, Manitoba nickel properties: With the opportunity to be part of the future for the electrification of the auto industry, Valterra intends to acquire and develop a significant portfolio of Nickel properties in the North Thompson Nickel Belt which will strategically position Valterra in a world class nickel district with a district scale land position ripe with targets, right beside properties owned and operated by Vale SA.

Pilar Gold: Pilar Gold Inc. and Laiva Gold Inc.: operations in Brazil and Finland. Valterra participated in the formation and funding of Pilar Gold Inc. and assisted in the acquisition and development of it in precious metals properties and mines in Brazil, ultimately selling its interests in such Brazilian properties to Pilar Gold in exchange for 4 million shares of Pilar Gold with an ascribed book value of C$2,400,000.

Upon the formation of Laiva Gold Inc. by Pilar Gold Inc. to acquire a mine and mill in Finland, Valterra received 500,000 shares of Laiva Gold at a current valuation of C$250,000. Pilar Gold operates the Pilar gold mine in Brazil and plans to restart the high-grade Sertão mine in 2024. Laiva Gold owns the Laiva gold mine and mill in Finland.

Currently completing a number of property acquisitions, Pilar Gold announced recently its intention to list its shares on a Canadian Stock Exchange in early 2024 and Laiva Gold has recently signed a letter of intent with a CSE-listed shell company for an RTO.

On behalf of the Board of Directors,

"Lawrence Page"

Lawrence Page K.C., Chairman, Valterra Resource Corporation

For further information, please visit Valterra's website at valterraresource.com or contact Valterra at 604.641.2759 or by email at ir@mnxltd.com.

Neither 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.

This news release may contain forward-looking statements including but not limited to comments regarding entering into the definitive agreement and the completion of the property transaction as well as the completion of a corporate name change, the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for Valterra Resource Corporation's projects, and the availability of financing for Valterra Resource Corporation's projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Valterra Resource Corporation does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.

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