Exploration & Drilling

Vancouver, British Columbia, July 2, 2025 – ValOre Metals Corp. (“ValOre”; TSX-V: VO, OTCQB: KVLQF, Frankfurt: KEQ0; “the Company”) today provided an update on recent exploration activities at its 100%-owned Pedra Branca Platinum Group Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil, and reinforced its focus on advancing the Company’s broader strategic growth initiatives in Brazil.

Jim Paterson, ValOre’s Chairman and CEO stated: “We continue to pursue acquisitions of high-quality gold exploration and development projects in Brazil. At the same time, the development of our flagship Pedra Branca platinum and palladium (“PGE”) project remains a top priority, as demonstrated by the multiple high-grade platinum and palladium assays released today from the 87 hole Trado^® auger drilling program recently completed at the Esbarro deposit. Trado^® hole AD25ES99 delivered a standout assay result of 10.0 m, starting from surface, grading 12.95 g/t 2PGE+Au, including 4.0 m grading 29.57 g/t 2PGE+Au starting from 1.0 m.”

Pedra Branca PGE Project – Exploration Highlights

Trado^® Auger Drilling – Esbarro Deposit

• 87 hole drill program was completed to collect additional weathered material for ongoing metallurgical test work, improve grade control and enhance geological understanding of the deposit;
• Assay results confirm continuity of high-grade PGE mineralization starting from surface to depths reaching 20 metres (maximum vertical reach of the auger drill), extending over 1 kilometre along strike, with widths up to 300 metres;
• PGE assay results from 613 Trado^® auger samples are disclosed in full in this release.

Regulatory Advancements

• Brazil’s National Mining Agency (Agencia Nacional de Mineração, “ANM”) has formally approved the Final Exploration Reports for key mineral claims within the Pedra Branca PGM Project, including those claims hosting the Esbarro, Cedro, Curiu, and Cana Brava deposits;
• With ANM’s approval, these claims have entered the Mining Concession application phase, marking a major advancement in regulatory status and development readiness.

Metallurgy/Engineering

• Metallurgical testwork is underway in collaboration with the University of Cape Town, evaluating both conventional flotation and leaching processing routes to optimize PGE recoveries from weathered, fresh and chromitite rock domains. Initial preliminary results expected by the end of July;

• Preliminary water supply studies are scheduled to commence in H2 2025, as part of preparation for a future Preliminary Economic Assessment (PEA).

Thiago Diniz, ValOre’s VP of Exploration commented: “The results from this Trado® auger drilling infill campaign have enhanced grade control and confirmed consistent, near-surface high-grade PGE mineralization over more than a kilometre and will be key for future modeling and updated resource estimates. Additionally, positive assays from Esbarro East extend mineralization beyond current resource boundaries and highlight an opportunity to add shallow ounces and grow the overall resource base at Esbarro. With key regulatory milestones achieved and metallurgical results expected soon, the team remains focused on advancing the Pedra Branca PGE Project toward development.”

Trado^® Auger Drilling – Esbarro Deposit

ValOre’s technical team recently completed a targeted Trado^® auger drilling program at the Esbarro deposit, with 87 holes drilled and over 560 metres of ultramafic, PGE-bearing rock intercepted. Of the 87 holes, 74 returned PGE mineralization, including 28 with grade-thickness values exceeding 10 gram-metres (grade x interval). The primary objective of the program was to generate additional weathered material for ongoing metallurgical testwork, while also providing a valuable opportunity to refine grade control and enhance geological interpretation of the deposit’s near-surface horizons. Highlight results include:

• 10.0 metres (“m”) grading 12.95 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”) from surface, including 4.0 m grading 29.57 g/t 2PGE+Au from 1.0 m – Trado® hole AD25ES99;
• 10.0 m at 1.94 g/t 2PGE+Au from surface, including 5.0 m grading 2.95 g/t 2PGE+Au from 5.0 m – Trado® hole AD25ES101;
• 9.0 m at 2.13 g/t 2PGE+Au from surface, including 3.0 m grading 5.95 g/t 2PGE+Au from 6 m – Trado® hole AD25ES63;
• 8.0 m at 2.72 g/t 2PGE+Au from surface – Trado® hole AD25ES77;
• 5.0 m at 3.78 g/t 2PGE+Au from surface, including 3.0 m grading 5.51 g/t 2PGE+Au from 0 m – Trado® hole AD25ES73.

In addition, drilling at the Esbarro East Zone, located within the 2022 NI 43-101 Inferred Resource* area, has extended mineralization beyond current pit-constrained limits, adding further value to the high-grade near-surface intercepts defined in the main Esbarro zone. Recent drilling has outlined high-grade PGE mineralization at surface for over 400 metres along strike. Highlight results include:

• 9.5 m at 5.62 g/t 2PGE+Au from surface, including 2.0 m grading 18.41 g/t 2PGE+Au from 2.0 m – Trado® hole AD25ES39;
• 8.5 m at 2.42 g/t 2PGE+Au from surface, including 4.0 m grading 4.55 g/t 2PGE+Au from 0 m – Trado® hole AD24ES23;
• 9.5 m at 1.97 g/t 2PGE+Au from surface, including 2.0 m grading 4.09 g/t 2PGE+Au from 4.0 m – Trado® hole AD24ES32;
• 20.0 m at 0.94 g/t 2PGE+Au from surface – Trado® hole AD25ES30.

Prior to the Trado® drilling at Esbarro East, a total of 233 soil samples were collected over a strike length of more than 800 metres, delineating the continuity of mineralization from the main Esbarro deposit. Assay highlights include soil values of up to 3,000 ppb 2PGE+Au.

CLICK HERE for Table 1, which shows Trado^® auger assay results for all mineralized Trado^® holes drilled at Esbarro’s Main (“Esbarro”) and East (“Esbarro East”) zones.

Figure 1: Location map of the Esbarro Deposit – Main and East Zones

Regulatory Advancements – Core Deposits Enter Mining Concession Phase

Brazil’s National Mining Agency (Agencia Nacional de Mineração, “ANM”) has formally approved the Final Exploration Reports for key mineral claims within the Pedra Branca Project, including the tenements that host the four core deposits: Esbarro, Cedro, Curiu, and Cana Brava, which together account for approximately 1 million ounces (“Moz) of the total 2.2 Moz 2PGE+Au outlined in the 2022 NI 43-101 Inferred Resource Estimate*.

The approved claims have now progressed into the Mining Concession application phase, representing a key step forward in advancing Pedra Branca along the regulatory pathway toward potential development.

This milestone enables the Company to intensify technical de-risking and project development work on these deposits, including ongoing metallurgical testwork and preliminary engineering studies addressing water supply, in preparation for a Preliminary Economic Assessment (PEA).

Figure 2: Location map of the mineral claims that have had their Final Exploration Reports approved by ANM.

Trado^® Auger Drilling QA/QC Procedures

As part of ValOre’s Quality Assurance and Quality Control (QA/QC) protocol for Trado^® auger drilling programs, a total of three quality control sample types were included in each analytical batch, which consists of 40 to 60 Trado^® samples plus one certified standard, one coarse blank and one pulp duplicate sample resulting in a QA/QC insertion rate of 5 to 7.5%. Control samples were inserted in a logical sequence, defined by the geologist based on detailed logging of Trado^® chips.

Trado^® samples are collected at one-metre intervals. The number of auger runs required to complete each metre depends on the nature of the rock being drilled. Material from each run is deposited directly into a clean plastic tray and a representative chip sample is selected and stored in a plastic chip case for geological logging and future reference.

Once a full metre is completed, the total recovered material (approximately 15 kg, with 90-100% recovery) is homogenized using a plastic tarp and subsequently quartered. A representative sample of approximately 2 kg is then collected and identified for geochemical analysis. The remaining material is labeled by metre and stored at ValOre’s core shack for future analyses. For every metre, the plastic tray is cleaned, and a new plastic tarp is used to ensure sample integrity during homogenization and quartering.

All samples are sent to SGS Laboratory and assayed by Fire Assay for Pd, Pt, Au and by ICP for multielement analysis. Upon receipt of assay results, data are systematically reviewed, and QA/QC control charts are generated and evaluated.

Qualified Person (“QP”)

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in NI 43-101 and reviewed and approved by Thiago Diniz, P.Geo., ValOre’s QP and Vice President of Exploration.

About ValOre Metals Corp.

ValOre Metals Corp. ((TSX-V: VO, OTCQB: KVLQF, Frankfurt: KEQ0) is a Canadian company with a team aiming to deploy capital and knowledge on projects which benefit from substantial prior investment by previous owners, existence of high-value mineralization on a large scale, and the possibility of adding tangible value through exploration and innovation.

ValOre’s Pedra Branca Platinum Group Elements Project comprises 45 exploration licenses covering a total area of 51,096 hectares (126,260 acres) in northeastern Brazil. At Pedra Branca, 7 distinct PGE+Au deposit areas host, in aggregate, a 2022 NI 43-101 inferred resource of 2.198 Moz 2PGE+Au contained in 63.6 Mt grading 1.08 g/t 2PGE+Au. ValOre’s team believes the Pedra Branca project has significant exploration discovery and resource expansion potential. (CLICK HERE to download 2022 technical report* and CLICK HERE for news release dated March 24, 2022).

*The 2022 Technical Report is entitled “Independent Technical Report –Mineral Resource Update on the Pedra Branca PGE Project, Ceará State, Brazil” was prepared as a National Instrument 43-101 Technical Report on behalf of ValOre Metals Corp. with an effective date of March 08, 2022. The 2022 Technical Report by Independent qualified persons, Fábio Valério (P.Geo.) and Porfirio Cabaleiro (P.Eng.), of GE21, commissioned to complete the mineral resource estimate while Chris Kaye of Mine and Quarry Engineering Services Inc. (MQes), was commissioned to review the metallurgical information. The Mineral Resource estimates were prepared in accordance with the CIM Standards, and the CIM Guidelines, using geostatistical, plus economic and mining parameters appropriate to the deposit. Mineral Resources, which are not mineral reserves, do not have demonstrated economic viability, and may be materially affected by environmental, permitting, legal, marketing, and other relevant issues. Mineral Resources are based upon a cut-off grade of 0.4 g/t PGE+Au, correlated to Pd_eq grade of 0.35 g/t, and were limited by an economic pit built in Geovia Whittle 4.3 software and following the geometric and economic parameters as disclosed in the 2022 NI 43-101 Technical Report,

On behalf of the Board of Directors,

“Jim Paterson”

James R. Paterson, Chairman and CEO

ValOre Metals Corp.

For further information about ValOre Metals Corp., or this news release, please visit our website at www.valoremetals.com or contact Investor Relations at 778-819-4484, or by email at [email protected].

ValOre Metals Corp. is a proud member of Discovery Group. For more information please visit: http://www.discoverygroup.ca/

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.

This news release contains “forward-looking statements” within the meaning of applicable securities laws. Although ValOre believes that the expectations reflected in its forward-looking statements are reasonable, such statements have been based on factors and assumptions concerning future events that may prove to be inaccurate. These factors and assumptions are based upon currently available information to ValOre. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. A number of important factors including those set forth in other public filings could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the future operations of ValOre and economic factors. Readers are cautioned to not place undue reliance on forward-looking statements. The statements in this press release are made as of the date of this release and, except as required by applicable law, ValOre does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. ValOre undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of ValOre, or its financial or operating results or (as applicable), their securities.

Vancouver, B.C. – June 3, 2025 – ValOre Metals Corp. (“ValOre”) (TSX-V: VO, OTCQB: KVLQF, Frankfurt: KEQ0), today highlighted the strategic synergies and near-term exploration plans for the combined Pedra Branca Gold and Platinum Group Metals (“PGM”) Projects. This combination of projects will create a 100,000-hectare precious metals district in Ceara State, Brazil. For further details concerning ValOre’s acquisition of the Pedra Branca Gold Project, please see ValOre’s news releases of March 26 and May 20, 2025.

Jim Paterson, ValOre’s Chairman and C.E.O. stated: “Brazil is a great place to be advancing mining exploration and development projects today. With our in-country team actively supported by a strong capital markets presence, we are very excited to rapidly advance work at the 100,000-hectare Pedra Branca precious metals district once South Atlantic shareholders approve the transaction with ValOre. We look forward to being able to deliver significant exploration results and create value on behalf of all ValOre and South Atlantic stakeholders.”

South Atlantic Gold Corporation (“South Atlantic”) Shareholder Meeting

• On May 20, 2025, ValOre and South Atlantic announced that the annual general and special meeting (the “Meeting”) of the shareholders of South Atlantic will be held on June 13, 2025;
• South Atlantic shareholders as of the close of business on May 7, 2025 are entitled to vote on all matters at the Meeting;
• All relevant Meeting materials have been mailed to South Atlantic shareholders and copies are available for viewing on South Atlantic’s SEDAR+ profile at www.sedarplus.ca;
• The board of directors of South Atlantic has unanimously recommended that South Atlantic Shareholders vote FOR the Amalgamation.

Thiago Diniz, ValOre’s VP of Exploration commented: “With years of experience in the region, our team brings valuable local knowledge and technical strength to the Pedra Branca Gold Project. We’re ready to hit the ground running and advance the Pedra Branca project immediately following the completion of the ValOre – South Atlantic transaction.”

Strategic and Operational Synergy Highlights

• Individual members of ValOre’s Board and management team have significant experience with gold projects around the world, including acquisitions, financings, and the execution of exploration programs that generated meaningful gold discoveries; in some cases leading to highly successful corporate transactions;
• ValOre’s Brazilian exploration team has been very active at the Pedra Branca PGM Project for over five years, having completed more than 23,000 metres of drilling (to bolster 30,000 metres of historical drilling), 2,819 metres of trenching, 885 Trado auger holes, and collected 8,048 rock and soil samples;
• Since acquiring the Pedra Branca PGM Project in 2019, ValOre’s team has developed a deep understanding of the local geology, identified multiple exploration targets and successfully doubled the historical resource*;
• ValOre has developed strong relationships with local communities and regulatory authorities; and
• ValOre’s operational base in Capitão Mor (pop. ~950) is strategically positioned to service both the Pedra Branca Gold and PGM properties, allowing for shared infrastructure, logistics, and personnel, thus creating immediate operational efficiencies and cost synergies.

* see ValOre’s news release from March 24, 2022 – ValOre Expands Pedra Branca Inferred Mineral Resource by 106% to 2.2 Million Ounces at 1.08 gt 2PGE+Au

Comprehensive Work Program Planned for H2 2025

Upon closing of the transaction, ValOre will immediately initiate a broad and detailed data compilation and validation campaign, including the following key elements:

• Systematic relogging of all available Pedra Branca Gold Project drill core and reassaying of key historical intervals to ensure data integrity;
• Reprocessing data obtained from a high-resolution drone mag survey completed in 2022 by South Atlantic to generate new targets and resource expansion opportunities;
• Execute on the partnership with VRIFY to leverage its AI-assisted mineral discovery platform, to transform the information in both Pedra Branca datasets into actionable insights;
• Regional reconnaissance across the +50-kilometre-long, gold-prospective trend, to identify and prioritize new target areas and evaluate underexplored areas;
• Development of a fully informed follow-up exploration program, to outline targets for potential drilling and trenching in 2026.

Proactive Regulatory Engagement with SEMACE and ANM

• ValOre has already proactively engaged with SEMACE (Ceará State Environmental Agency) and ANM (National Mining Agency) to align expectations and facilitate a seamless transition in the permitting process;
• These engagements reinforce ValOre’s commitment to responsible exploration and early alignment with Brazil’s environmental and mining frameworks, paving the way for efficient project advancement.

In parallel with ongoing regulatory and community engagement, the foundational exploration performed will enable ValOre to build a robust regional geological model and exploration strategy, resulting in the identification of new targets and opportunities for resource expansion.

Figure 1: Pedra Branca PGM and Pedra Branca Gold property map

(1) Independent Technical Report – Mineral Resource Update on the Pedra Branca PGE Project, Ceará State, Brazil (Effective date: March 8, 2022)
(2) NI 43-101 Technical Report – Mineral Resource Estimation for the Pedra Branca Gold Project Ceará State – Brazil (Effective date: March 16, 2021)

About ValOre Metals Corp.

ValOre Metals Corp. (TSX-V: VO, OTCQB: KVLQF, Frankfurt: KEQ0) is a Canadian company with a team aiming to deploy capital and knowledge on projects which benefit from substantial prior investment by previous owners, existence of high-value mineralization on a large scale, and the possibility of adding tangible value through exploration and innovation.

For further information about ValOre Metals Corp., or this news release, please visit our website at www.valoremetals.com or contact Investor Relations at 604.653.9464, or by email at [email protected].

ValOre is a proud member of Discovery Group http://www.discoverygroup.ca

About South Atlantic Gold Inc.

South Atlantic is an exploration company engaged in acquiring and advancing mineral properties in the Americas. 

For further information, please visit our website at www.southatlanticgold.com.

Additional Information about the Proposed Transaction and Where to Find It

Further details regarding the terms of the Proposed Transaction are set out in the Agreement, which will be publicly filed on ValOre’s and South Atlantic’s respective SEDAR+ profiles at www.sedarplus.ca. Additional information regarding the terms of the Agreement, the background to the Proposed Transaction and how the South Atlantic Shareholders can participate in and vote at the South Atlantic Shareholder Meeting will be provided in the management information circular which has been mailed to the South Atlantic Shareholders and also filed on the South Atlantic’s SEDAR+ profile at www.sedarplus.ca. South Atlantic Shareholders are urged to read these and other relevant materials when they become available.

No Offer or Solicitation

This document does not constitute an offer to sell, or the solicitation of an offer to buy, any securities in any jurisdiction pursuant to or in connection with the Proposed Transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law.

Qualified Person (“QP”)

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in NI 43-101 and reviewed and approved by Thiago Diniz, P.Geo., ValOre’s QP and Vice President of Exploration.

Cautionary Note Regarding Forward-Looking Statements

This news release contains certain forward-looking statements and forward-looking information, as defined under applicable Canadian securities laws (collectively, “forward-looking statements”). The words “will”, “intend”, “anticipate”, “could”, “should”, “may”, “might”, “expect”, “estimate”, “forecast”, “plan”, “potential”, “project”, “assume”, “contemplate”, “believe”, “shall”, “scheduled”, and similar terms and, within this news release, include, without limitation, any statements (express or implied) respecting: the terms and conditions of the Proposed Transaction, the pro forma capitalization of ValOre following completion of the Proposed Transaction, the South Atlantic Shareholder Meeting; the proposed timing and completion of the Proposed Transaction; the satisfaction of the conditions precedent to the Proposed Transaction; timing, receipt and anticipated effects of regulatory and other approvals; the delisting of the South Atlantic Shares from the TSXV, South Atlantic ceasing to be a reporting issuer and all other statements that are not statements of historical facts. Forward-looking statements are not guarantees of future performance, actions, or developments and are based on expectations, assumptions and other factors that management currently believes are relevant, reasonable, and appropriate in the circumstances.

Although management believes that the forward-looking statements herein are reasonable, actual results could be substantially different due to the risks and uncertainties associated with and inherent to each of ValOre’s and South Atlantic’s respective businesses (as more particularly described in each of their continuous disclosure filings available under their respective SEDAR+ profile at www.sedarplus.ca), as well as the following particular risks: risks that a condition to closing of the Proposed Transaction may not be satisfied; risks that the requisite South Atlantic Shareholder approvals, or other applicable approvals for the Proposed Transaction may not be obtained or be obtained subject to conditions that are not anticipated; the market price of parties’ respective common shares and business generally; potential legal proceedings relating to the Proposed Transaction and the outcome of any such legal proceeding; the inherent risks, costs and uncertainties associated with transitioning the business successfully and risks of not achieving all or any of the anticipated benefits of the Proposed Transaction, or the risk that the anticipated benefits of the Proposed Transaction may not be fully realized or take longer to realize than expected; the occurrence of any event, change or other circumstances that could give rise to the termination of the Agreement; the risk that the Proposed Transaction will not be consummated within the expected time period, or at all.

Actual results or events could differ materially from those contemplated in forward-looking statements as a result of, without limitation, the following: the ability to secure the required South Atlantic Shareholder or regulatory approvals; the occurrence of a material adverse effect, the receipt by South Atlantic of a superior proposal, or the failure by either party to satisfy any other closing condition in favour of the other provided for in the Agreement, which condition is not waived; general business, economic, competitive, political and social uncertainties; and the future performance, financial and otherwise, of ValOre and South Atlantic. All forward-looking statements included in this news release are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this news release are made as at the date hereof and neither ValOre nor South Atlantic undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required by applicable securities laws.

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 release.