Proposition 3
Tag 04SB, permanent. Cite it as [Bourbaki, Tag 04SB].
Commutative Algebra, chapter VI, § 1. Valuation rings
*Let be a principal ideal domain and its field of fractions. The valuation rings of containing and distinct from are the rings of the form , where is an extremal element of .
Clearly ( extremal) is a valuation ring containing and distinct from (Proposition 2). Conversely, let be a valuation ring distinct from and containing . As , contains an element ; writing where and , it is seen that contains the non-zero element . As is prime, it is of the form where is extremal in . Then , so that dominates ; as is a valuation ring of (Proposition 2), .
Bourbaki puts the proof directly after the statement, so what is above is the statement and its proof together.