Exploration & Drilling

Vancouver, British Columbia, August 15^th, 2024 – ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTCQB: KVLQF; Frankfurt: KEQ0, “the Company”) today announced the start of a detailed ground magnetic and gamma spectrometry geophysical survey and provided an update on exploration work at the Salvador Target (“Salvador”) area at ValOre’s 100%-owned Pedra Branca Platinum Group Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil.

Thiago Diniz, ValOre’s V.P. of Exploration commented: “Salvador is rapidly becoming one of the main targets on our Pedra Branca property, but it was previously only covered with a regional scale magnetic survey. The new geophysical data and interpretation from the detailed ground magnetic and gamma spectrometry surveys, combined with results from the current Trado^® drilling and trenching programs underway, will help us delineate priority targets for future resource expansion drill programs at Salvador.”

Salvador Trado^® Auger Drilling and Trenching Programs

Follow-up Trado^® auger drilling and trenching programs are in progress at the Salvador target, aiming at delineating PGE mineralization along a 600 m trend located north of the area drill-tested in 2023 (CLICK HERE for News Release dated July 17, 2024);

• Trado^® auger drilling has intercepted ultramafic rocks (“UM”) in 14 of 22 Trado^® auger holes drilled to date– see Figure 1);
• UM continuity confirmed along the 600 m of mineralized soils trend under investigation;
• 43 samples have been sent to lab, with initial assay results pending;

• Following Trado^® auger drilling, a trenching program commenced on August 14^th; with approximately 200 m planned to be excavated in 4 to 6 trenches along the 600 m strike extension to the north of the area drilled in 2023;
• Both the Trado^® auger drilling and trenching programs are expected to be finished by the end of August.

Figure 1: Salvador Plan View Location Map, displaying Trado^® auger drill holes completed to date and planned trenches.

Salvador Geophysical Program

In addition to the Trado^® auger and trenching programs, ValOre engaged GSM Geoscience (“GSM”) to conduct a detailed ground geophysical survey, consisting of 50 line kilometres (“km”) of ground magnetics and gamma spectrometry, covering the entire strike-length of the Salvador target and extensions. The field work, which started on August 14^th and is expected to be completed by the end of August, will be followed by a 3D inversion modeling and structural interpretation.

Geophysical data collection, modeling and interpretation, combined with ongoing geochemical data from the Trado^® and trenching programs underway, will provide us with detailed and key information to determine priority core drill targets for future resource estimation at Salvador.

About GSM Geoscience

GSM Geoscience is a Brazilian company specializing in geoscience data processing and integration applied to mineral exploration. Their mission is to add value and enhance geological knowledge from geophysical data. GSM started its activities in 2015 and has major mining companies operating in Brazil as clients, being a leading company in geosciences in the country. For more information, please visit https://gsmgeoscience.com/

Quality Assurance/Quality Control (“QA/QC”)

CLICK HERE for a summary of ValOre’s policies and procedures related to QA/QC and grade interval reporting.

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) 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 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, British Columbia, July 17^th, 2024 – ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTCQB: KVLQF; Frankfurt: KEQ0, “the Company”) today announced the recommencement of exploration work in the Salvador Target (“Salvador”) area at ValOre’s 100%-owned Pedra Branca Platinum Group Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil.

“Recent drilling at our Salvador discovery confirms consistent, near-surface, high-grade PGE mineralization that has very clear upside potential for additional extension along strike, as well as at depth,” stated Thiago Diniz, V.P. Exploration, ValOre Metals Corp. “Our Trado^® and trenching exploration programs will rapidly and cost-effectively test an additional 600 metres of the underexplored Salvador trend. Salvador exhibits scale potential and has the PGE grades to establish one of the largest single resources at Pedra Branca property,” added Mr. Diniz.”

July and August 2024 Salvador Exploration

• Trado^® auger drilling commenced July 15, and is testing a 600 m PGE-mineralized trend located north of the area drill-tested in 2023 (see News Release dated November 7^th and December 11^th, 2023) which defines the extension of PGE mineralization along strike to the north of the Salvador discovery;
• Trado^® drilling comprises 100 metres (“m”) in 20 auger drill holes and is expected to be finished by the end of July;
• 200 m of trenches are planned for Salvador in August to follow-up on Trado^® drill results.

2023 Salvador Discovery Highlights

The 2023 diamond drill program at Salvador tested 400 m of a 1.5-kilometre (km) trend of ultramafic mineralization at surface. Drilling intersected PGE mineralization in 7 of 8 drill holes, each demonstrating significant thickness and continuity at depth; see Figure 1 and Table 1 below. Salvador is a high-priority target that remains open along strike and at depth and warrants additional follow-up core drilling in future programs.

Click on this link to view a short video (2m53s) about the Salvador discovery.

Figure 1: Salvador 2024 Trenching Plan View

Table 1: 2023 Diamond Drill Hole Assay Highlights.

Hole ID	From (m)	To (m)	Length (m)1	2PGE+Au (g/t)	Ni (%)2	Cu (%)2
DD23MES01	45.25	89.10	43.85	0.76	0.06	0.02
	80.45	86.50	6.05	1.35	0.17	0.04
DD23MES02	64.00	142.95	78.95	0.96	0.03	0.01
	64.50	106.00	41.50	1.34	0.02	0.01
DD23MES03	47.15	96.75	49.60	1.25	0.26	0.13
	55.20	71.00	15.80	2.22	0.38	0.18
DD23MES04	77.15	123.20	46.05	1.96	0.29	0.12
	88.65	98.65	10.00	5.02	0.50	0.10
DD23MES06	56.50	70.00	13.50	0.94	n.a.	n.a.
	56.50	62.00	5.50	1.39	n.a.	n.a.
DD23MES07	159.85	170.25	10.40	0.62	n.a.	n.a.
	166.35	167.10	0.75	3.29	n.a.	n.a.
DD23MES08	141.20	160.10	18.90	0.73	n.a.	n.a.
	148.00	152.00	4.00	1.25	n.a.	n.a.

Quality Assurance/Quality Control (“QA/QC”)

CLICK HERE for a summary of ValOre’s policies and procedures related to QA/QC and grade interval reporting.

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) 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 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, British Columbia, December 11^th, 2023 – ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTCQB: KVLQF; Frankfurt: KEQ0, “the Company”) today reported assay results for nickel-copper (“Ni-Cu”) sulfide mineralization from four 2023 core drill holes into the Salvador Target (“Salvador”) at ValOre’s 100%-owned Pedra Branca Platinum Group Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil. Further discovery of Ni-Cu sulfide mineralization at Pedra Branca may establish these metals as credits in future mineral resource estimates.

Thiago Diniz, Exploration Manager, stated: “Finding nickel-copper sulfide mineralization in all four analyzed core holes adds significant upside potential for our Salvador discovery and establishes this target as one of the most promising discoveries at Pedra Branca to date. We are also very encouraged that palladium-platinum assays from our soil and Trado^® auger programs extend the PGE mineralized trend to 1.5 kilometres in length, although it has only been drill-tested over approximately 400 metres.”

Salvador Nickel-Copper Drilling Highlights

Assay highlights for nickel and copper released herein, including previously released 2PGE+Au include:

• 49.6 metres (“m”) at 1.25 g/t 2PGE+Au, 0.26% Ni and 0.13% Cu with mineralization starting from 47.2 m, including 15.8 m at 2.22 g/t 2PGE+Au, 0.38% Ni and 0.18% Cu from 55.2 m in drill hole DD23MES03 (Figure 3);
• 46.05 m at 1.96 g/t 2PGE+Au, 0.29% Ni and 0.12% Cu from 77.15 m, including 10 m at 5.02 g/t 2PGE+Au, 0.50% Ni and 0.10% Cu from 88.65 m in drill hole DD23MES04.

Table 1: Salvador Nickel and Copper sulfide assay highlights.

Hole ID	From (m)	To (m)	Length (m)1	2PGE+Au (g/t)	Ni (%)2	Cu (%)2
DD23MES01	45.25	89.10	43.85	0.76	0.06	0.02
	80.45	86.50	6.05	1.35	0.17	0.04
DD23MES02	64.00	142.95	78.95	0.96	0.03	0.01
	64.50	106.00	41.50	1.34	0.02	0.01
DD23MES03	47.15	96.75	49.60	1.25	0.26	0.13
	55.20	71.00	15.80	2.22	0.38	0.18
DD23MES04	77.15	123.20	46.05	1.96	0.29	0.12
	88.65	98.65	10.00	5.02	0.50	0.10
DD23MES06	56.50	70.00	13.50	0.94	n.a.	n.a.
	56.50	62.00	5.50	1.39	n.a.	n.a.
DD23MES07	159.85	170.25	10.40	0.62	n.a.	n.a.
	166.35	167.10	0.75	3.29	n.a.	n.a.
DD23MES08	141.20	160.10	18.90	0.73	n.a.	n.a.
	148.00	152.00	4.00	1.25	n.a.	n.a.

¹Core assay interval lengths are estimated to represent 80-100% of true width.

²Ni-Cu assay results reported today for drill holes DD23MES01, MES02, MES03 and MES04. Determination of Ni and Cu sulfides by atomic absorption spectrometry (AAS).

n.a. = not assayed

At Salvador, magmatic nickel-copper sulfide mineralization occurs in a sulfide-rich peridotitic horizon basal to chromitite reefs. The sulfide mineralization is characterized by up to 5% disseminated to locally semi-massive pyrrhotite, pyrite, pentlandite and chalcopyrite.

The Salvador Ni-Cu assay results and mineralization style reported herein are very similar to those reported from the southern extension of ValOre’s Trapia 1 deposit, located ~20 kilometres to the south-southwest (see news release dated September 25, 2023), and provide further evidence of the potential to discover significant magmatic Ni-Cu sulfide mineralization throughout the Pedra Branca district.

The future use of electromagnetic (“EM”) geophysical surveys is now under review for Salvador, Trapia 1, and other prospective trends property-wide to aid in the discovery of potential sulfide extensions along strike and down-dip.

Salvador Field Program Highlights

Follow-up soil and Trado^® auger assay results confirm PGE mineralization along 1.5 kilometres (“km”) of strike, including 1.1 km of trend outside of the drill-tested zone (see news release dated September 21, 2023).

• Consistent PGE grades in soils and Trado^® defined along 650 m in strike length to the north and an additional 450 m to the south of the area drilled in 2023 (see Figure 1);
• Assay results warrant follow-up trenching to investigate in-situ continuity of the PGE-mineralized ultramafic rocks (“UMs”) along the undrilled trend.

Mr. Diniz also stated: “We look forward to continuing to grow Salvador by drilling open extensions both along strike and at depth, to advance the target towards potential inclusion in ValOre’s next mineral resource update.”

View the Nov 7^th short video (2m53s) here, and read news releases on the Salvador Discovery here:

• November 7, 2023: ValOre Reports Final Assay Results from the Salvador Discovery, Pedra Branca Project;
• October 17, 2023: ValOre Reports Near-Surface High-Grade PGE Mineralization in Three Additional Drill Holes at Salvador Discovery, Pedra Branca Project; 46.05 m at 1.96 g/t 2PGE+Au from 77.15 m, including 10 m at 5.02 g/t 2PGE+Au;
• October 4, 2023: ValOre Assays Confirm Palladium-Platinum Discovery at Salvador Target, Pedra Branca Project: 43.85 m at 0.76 g/t 2PGE+Au starting from 45.25 m, incl. 10.85 m at 1.19 g/t 2PGE+Au from 51.3 m;
• September 5, 2023: ValOre Drills Chromite-Bearing Sequence at New Salvador Target and Confirms Resource Expansion Potential at Trapiá 1, Pedra Branca PGE Project, Brazil.

Figure 1: Plan View of the Salvador Target, highlighting diamond drill hole locations, core assay results, and soil, rock and Trado^® mineralization along 1.5 km, including undrilled trend which extends over 1 km in strike length.

Figure 2: Aerial 3D oblique view of the Salvador Target, highlighting diamond drill hole locations and 2PGE+Au assay results. Ni-Cu sulfide assays reported herein for drill holes MES01, MES02, MES03 and MES04. Salvador remains open along strike and at depth.

Figure 3: DD23MES03 strip log showing strong correlation of 2PGE+Au and Ni-Cu sulfide mineralization within the ultramafic sequence.

Quality Assurance/Quality Control (“QA/QC”)

CLICK HERE for a summary of ValOre’s policies and procedures related to QA/QC and grade interval reporting.

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 Exploration Manager.

About ValOre Metals Corp.

ValOre Metals Corp. (TSX‐V: VO) 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 52 exploration licenses covering a total area of 56,852 hectares (140,484 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.

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 [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, British Columbia, November 07^th, 2023 – ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTCQB: KVLQF; Frankfurt: KEQ0, “the Company”) today reported the remaining core assay results for the Salvador Target (“Salvador”) at ValOre’s 100%-owned Pedra Branca Platinum Group Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil.

Thiago Diniz, Exploration Manager, ValOre Metals Corp., stated: “The 2023 diamond drill program at Salvador tested 400 m of a 1.3 km trend of mineralization at surface. Drilling intersected palladium-platinum mineralization in 7 of 7 ultramafic bearing holes, demonstrating significant thickness and continuity at depth. Salvador remains open along strike and at depth and warrants additional follow-up core drilling in future programs.”

Click on this link to view a short video (2m53s) about the Salvador discovery.

Salvador Highlights

Assay results received for the remaining three core holes drilled at Salvador include:

• 13.5 metres (“m”) of 0.94 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”) with mineralization starting from (“from”) 56.5 m, including 5.5 m of 1.39 g/t 2PGE+Au from 56.5 m in drill hole DD23MES06;
• 18.9 m of 0.73 g/t 2PGE+Au from 141.2 m in drill hole DD23MES08.

Rapid acceleration of the target from initial concept to drill discovery was accomplished through cost-effective boots-on-the-ground exploration. The first mineralized rocks assays were received in January 2023, and Salvador was advanced to a drill-ready stage by late August.

Total exploration expenditures at Salvador of CAD$260,000:

• CAD$20,000 of the total spent on field mapping, rock and soil sampling, Trado^® auger drilling and trenching;
• CAD$240,000 spent on core drilling and assay costs.

Highlights from drill holes released on October 4^th and 17^th, 2023*, include:

• 43.85 m of 0.76 g/t 2PGE+Au from 45.25 m in DD23MES01;
• 78.95 m of 0.96 g/t 2PGE+Au from 64.00 m in DD23MES02;
• 49.60 m of 1.25 g/t 2PGE+Au from 47.15 m in DD23MES03;
• 46.05 m of 1.96 g/t 2PGE+Au from 77.15 m in DD23MES04.

Follow-up mapping, soil sampling and Trado^® auger drilling are in progress, focusing on the open trends to the north and south of Salvador’s main zone.

“Salvador’s rapid evolution from concept to discovery showcases the excellent prospectivity at Pedra Branca and demonstrates the team’s ability to successfully and cost-effectively advance previously untested zones along the regional Troia trend,” added Mr. Diniz.

 

Table 1: Final PGE Assay Highlights (g/t 2PGE+Au) – Salvador Discovery, Pedra Branca Project

Hole ID1	From (m)	To (m)	Length (m)2	2PGE+Au (g/t)	CuS (%)3	NiS (%)3	News Release Date
DD23MES01	45.25	89.10	43.85	0.76	pending	pending	October 4, 2023
	80.45	86.50	6.05	1.35	pending	pending
DD23MES02	64.00	142.95	78.95	0.96	pending	pending	October 17, 2023
	64.50	106.00	41.50	1.34	pending	pending
DD23MES03	47.15	96.75	49.60	1.25	pending	pending
	55.20	71.00	15.80	2.22	pending	pending
DD23MES04	77.15	123.20	46.05	1.96	pending	pending
	79.90	81.45	1.55	5.23	pending	pending
	88.65	98.65	10.00	5.02	pending	pending
DD23MES06	56.50	70.00	13.50	0.94	n.a.	n.a.	Today
	56.50	62.00	5.50	1.39	n.a.	n.a.
DD23MES07	159.85	170.25	10.40	0.62	n.a.	n.a.
	166.35	167.10	0.75	3.29	n.a.	n.a.
DD23MES08	141.20	160.10	18.90	0.73	n.a.	n.a.
	148.00	152.00	4.00	1.25	n.a.	n.a.

1. Assay results reported today: DD23MES06, MES07 and MES08.
2. Core assay interval lengths are estimated to represent 80-100% of true width.
3. Determination of Ni and Cu sulfides by atomic absorption spectrometry (AAS).

Figure 1: 3D view of the Salvador Target, highlighting diamond drill hole locations and 2PGE+Au assay results. Salvador remains open along strike and at depth.

Salvador Discovery – Exploration Program Highlights

Click on this link to view a short video (2m53s) about the Salvador discovery.

ValOre identified Salvador as a high caliber target in January of this year, and rapidly advanced it to a September core drilling discovery through cost-effective, sequential exploration.

Geological mapping, soil sampling and Trado^® auger drilling were completed over a strike length of approximately 1.5 kilometres (“km”), with a total of 245 soil samples and 47 rock samples collected, and 98 m of Trado^® auger drilled in 23 holes. High-grade surface palladium-platinum mineralization was established along 1.3 km of undrilled trend.

Four trenches were excavated along Salvador’s main zone which exposed and defined chromite-bearing ultramafic rocks (“UMs”), with PGE mineralization reported in all trenches, spanning 400 m of strike length.

Eight core drill holes, totaling 1,056 m were subsequently completed to test the depth potential of surface PGE mineralization at Salvador over the full 400 m trend, with chromite-bearing ultramafic rocks intercepted in 7 of 8 holes, including chromitite reefs, a lithology typically associated with high-grade palladium-platinum values at Pedra Branca. Disseminated base metal sulfide mineralization, typically associated with high-grade Ni and Cu mineralization, was also drilled. Nickel and copper sulfide assays by atomic absorption spectrometry remain pending.

The mineralized UM package at Salvador has demonstrated significant thickness and continuity at depth and warrants additional follow-up core drilling in future programs. The evolution of Salvador from concept to discovery showcases the excellent prospectivity at Pedra Branca and demonstrates the team’s ability to successfully advance previously untested zones along the regional Troia trend.

Leveraging the Company’s strong understanding of the regional and local geology has moved Salvador from concept to the drill-ready stage for less than CAD$20,000, including geological mapping, soil and rock sampling, Trado auger drilling and trenching. Costs for the drill program, including drilling and assay costs for 8 core drill holes, totalled CAD$240,000, highlighting the deployment of a cost effective and successful exploration program at Pedra Branca property (Figure 2).

Figure 2: Salvador Target – Timeline to Discovery and Exploration Costs.

2023 Drill Program Highlights

PGE assay results have now been received from the entire 2023 Phase 1 drill program consisting of 49 drill holes totaling 6,152 metres, including 154 core assay samples from 6 drill holes at Salvador and Ipueiras reported herein (Tables 2 and 3). Still pending are copper (“Cu”) and nickel (“Ni”) assays from 274 samples from 4 holes at Salvador.

Table 2: 2023 Pedra Branca Drilling Totals and Final PGE Assay Status by Zone

Target	Total Drilled (m)	# Holes	# Holes w/ UMs	Total UMs (m)	Core Samples	PGE Assays Received	PGE Assays Pending
Galante	790	11	11	190	384	384	0
Tróia	1,029	9	6	72	188	188	0
Nambi	665	6	6	74	203	203	0
Ipueiras	228	4	4	27	83	83	0
Massapê	380	4	3	19	48	48	0
Cedro	545	2	1	4	14	14	0
Trapiá 1	1,326	4	4	175	272	272	0
Trapiá South	133	1	1	4	36	36	0
Salvador	1,056	8	7	265	397	397	0
Total	6,152	49	43	830	1,625	1,625	0

Table 3: Final 2023 Core Assay Highlights by Zone

Target	Hole ID1	From (m)	To (m)	Length (m)2	2PGE+Au (g/t)	CuS (%)3	NiS (%)3	News Release Date
Galante	DD23GE01	56.00	56.63	0.63	0.99	n.a.	n.a.	September 5, 2023
	DD23GE02	10.25	19.30	9.05	0.35	n.a.	n.a.
	DD23GE03	31.50	32.35	0.85	0.57	n.a.	n.a.
		35.00	38.02	3.02	0.15	n.a.	n.a.
	DD23GE04	26.65	56.60	29.95	0.33	n.a.	n.a.
	DD23GE05	35.60	48.70	13.10	0.30	n.a.	n.a.
	DD23GE06	33.00	35.55	2.55	0.63	n.a.	n.a.
	DD23GE07	15.00	23.60	8.60	3.18	n.a.	n.a.
		17.90	20.00	2.10	5.26	n.a.	n.a.
	DD23GE08	16.70	31.50	14.80	0.15	n.a.	n.a.
	DD23GE09	24.55	29.65	5.10	0.49	n.a.	n.a.
	DD23GE10	12.20	19.25	7.05	0.16	n.a.	n.a.
		12.20	13.25	1.05	0.39	n.a.	n.a.
	DD23GE11	10.60	22.70	12.10	0.25	n.a.	n.a.
		43.00	46.90	3.90	0.43	n.a.	n.a.
		55.00	59.00	4.00	0.22	n.a.	n.a.
		75.30	85.40	10.10	0.60	n.a.	n.a.
Tróia	DD23TR05	22.25	26.83	4.58	0.75	n.a.	n.a.	September 5, 2023
	DD23TR06	23.10	42.90	19.80	0.71	n.a.	n.a.
	DD23TR07	31.15	47.50	16.35	1.03	n.a.	n.a.
		43.25	45.85	2.60	4.03	n.a.	n.a.
	DD23TR08	22.45	32.95	10.50	0.57	n.a.	n.a.
	DD23TR09	52.42	59.43	7.01	1.09	n.a.	n.a.
		53.10	56.10	3.00	1.61	n.a.	n.a.
	DD23TR11	62.00	62.80	0.80	0.17	n.a.	n.a.
Nambi	DD23NB02	48.64	50.33	1.69	0.56	n.a.	n.a.	September 5, 2023
	DD23NB03	40.00	42.05	2.05	0.22	n.a.	n.a.
	DD23NB04	32.94	56.57	23.63	1.56	n.a.	n.a.
		34.10	42.00	7.90	2.80	n.a.	n.a.
	DD23NB05	238.44	243.60	5.16	0.23	n.a.	n.a.	September 21, 2023
	DD23NB06	62.00	66.50	4.50	0.48	n.a.	n.a.
	DD23NB07	22.80	24.65	1.85	0.43	n.a.	n.a.
Massapê	DD23MS18	102.95	103.45	0.50	0.20	n.a.	n.a.	September 21, 2023
	DD23MS19	26.00	33.90	7.90	0.27	n.a.	n.a.
		56.00	58.00	2.00	2.50	n.a.	n.a.
Ipueiras	DD23IP04	0.00	11.85	11.85	0.55	n.a.	n.a.	September 25, 2023
		2.65	3.55	0.90	1.58	n.a.	n.a.
	DD23IP05	5.00	8.05	3.05	0.22	n.a.	n.a.	Today
	DD23IP06	6.40	7.90	1.50	0.45	n.a.	n.a.
	DD23IP07	11.60	13.25	1.65	0.28	n.a.	n.a.
Trapiá	DD23TU32	283.20	296.75	13.55	0.10	0.06	0.32	October 30, 2023
		283.70	286.80	3.10	0.22	0.21	0.95
		294.50	295.90	1.40	0.15	0.05	0.52
	DD23TU33	235.90	307.70	71.80	1.59	0.02	0.10	September 25, 2023
		258.85	267.00	8.15	10.54	0.11	0.37
		259.50	260.10	0.60	46.07	0.02	0.01
	DD23TU34	276.30	277.15	0.85	0.25	n.a.	n.a.	October 30, 2023
	DD23TU35	241.20	329.45	88.25	0.42	n.a.	n.a.
Salvador	DD23MES01	45.25	89.10	43.85	0.76	pending	pending	October 4, 2023
		80.45	86.50	6.05	1.35	pending	pending
	DD23MES02	64.00	142.95	78.95	0.96	pending	pending	October 17, 2023
		64.50	106.00	41.50	1.34	pending	pending
	DD23MES03	47.15	96.75	49.60	1.25	pending	pending
		55.20	71.00	15.80	2.22	pending	pending
	DD23MES04	77.15	123.20	46.05	1.96	pending	pending
		79.90	81.45	1.55	5.23	pending	pending
		88.65	98.65	10.00	5.02	pending	pending
	DD23MES06	56.50	70.00	13.50	0.94	n.a.	n.a.	Today
		56.50	62.00	5.50	1.39	n.a.	n.a.
	DD23MES07	159.85	170.25	10.40	0.62	n.a.	n.a.
		166.35	167.10	0.75	3.29	n.a.	n.a.
	DD23MES08	141.20	160.10	18.90	0.73	n.a.	n.a.
		148.00	152.00	4.00	1.25	n.a.	n.a.

1. Core assay interval lengths are estimated to represent 80-100% of true width.
2. Determination of Ni and Cu sulfides by atomic absorption spectrometry (AAS).

Figure 3: Pedra Branca project property map, highlighting locations of the 2023 drill targets and current resource zones.

Quality Assurance/Quality Control (“QA/QC”)

CLICK HERE for a summary of ValOre’s policies and procedures related to QA/QC and grade interval reporting.

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 Exploration Manager.

About ValOre Metals Corp.

ValOre Metals Corp. (TSX‐V: VO) 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 52 exploration licenses covering a total area of 56,852 hectares (140,484 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.

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 [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, British Columbia, October 30^th, 2023 – ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTCQB: KVLQF; Frankfurt: KEQ0, “the Company”) today reported assay results from the Trapiá 1 deposit (“Trapiá 1”) area as part of the 2023 Phase 1 drill program at ValOre’s 100%-owned Pedra Branca Platinum Group Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil.

“The 2023 core drilling program at Trapiá 1 has successfully demonstrated resource expansion potential, extending known PGE mineralization 400 metres outside of the existing Trapiá 1 resource boundary, including high-grade palladium-platinum mineralization within broad intersections of PGE-mineralized ultramafic rocks, and high-grade magmatic nickel sulfide mineralization,” stated Thiago Diniz, Exploration Manager, ValOre Metals Corp. “The 2023 results build on the 31 previously drilled core holes at Trapiá 1 to extend known mineralization to almost 1 kilometre in strike length and down to 300 metres vertical depth, in a deposit that is already the largest resource zone at Pedra Branca.”

Trapiá 1 2023 Drill Program Highlights

• A total of 1,326 metres (“m”) were drilled in 4 step-out drill holes, with PGEs intersected in all 4 holes, extending mineralization 400 m outside of the 2022 NI 43-101 optimized resource pit;
• New assays from three of the four holes include:
  • 13.55 m at 0.10 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”), 0.32% nickel (“Ni”), 0.06% copper (“Cu”) starting from 283.2 m, and including 3.10 m at 0.22 g/t 2PGE+Au, 0.95% Ni, 0.21% Cu from 283.7 m and 1.4 m at 0.15 g/t 2PGE+Au, 0.52% Ni, 0.05% Cu from 294.5 m in drill hole DD23TU32;
  • 88.25 m at 0.42 g/t 2PGE+Au from 241.2 m in drill hole DD23TU35;
• Significant magmatic sulfide mineralization intersected in holes DD23TU32 and DD23TU33, including disseminated to semi-massive sulfides (pyrrhotite > pentlandite > chalcopyrite), with four core samples returning over 1% Ni sulfide mineralization in drill hole DD23TU32;
• Drill holes DD23TU34 and DD23TU35 confirm continuity of PGE mineralization, which remains open in all directions.

Table 1: Trapiá 1 Final Assay Highlights (g/t 2PGE+Au)

Hole ID1	From (m)	To (m)	Length (m)2	2PGE+Au (g/t)	Cu (%)3	Ni (%)3
DD23TU32	283.20	296.75	13.55	0.10	0.06	0.32
	283.70	286.80	3.10	0.22	0.21	0.95
	294.50	295.90	1.40	0.15	0.05	0.52
DD23TU33	235.90	307.70	71.80	1.59	0.02	0.10
	258.85	267.00	8.15	10.54	0.11	0.37
	259.50	260.10	0.60	46.07	0.02	0.01
DD23TU34	276.30	277.15	0.85	0.25	n.a.	n.a.
DD23TU35	241.20	329.45	88.25	0.42	n.a.	n.a.

¹ Assay results reported today: DD23TU32, TU34 and TU35.
² Core assay interval lengths are estimated to represent 95-100% of true width.
³ Determination of Ni and Cu sulfides by atomic absorption spectrometry (AAS), except drill holes DD23TU34 and TU35.

2023 Pedra Branca Drill Program Summary

• 6,152 m drilled in 49 core holes distributed along 8 separate exploration target and resource zones (see ValOre news release of September 21, 2023);
• 1,625 core samples sent to lab, with assays pending for 154 samples from 7 holes.

Table 2: 2023 Pedra Branca Drilling Totals and Assay Status by Zone

Target	Total Drilled (m)	# Holes	# Holes w/ UMs	Total UMs (m)	Core Samples	Assays Received	Assays Pending
Galante	790	11	11	190	384	384	0
Tróia	1,029	9	6	72	188	188	0
Nambi	665	6	6	74	203	185	18
Ipueiras	228	4	3	27	83	34	49
Massapê	380	4	3	19	48	48	0
Cedro	545	2	1	4	14	14	0
Trapiá 1	1,326	4	4	175	272	272	0
Trapiá South	133	1	1	4	36	36	0
Salvador	1,056	8	7	265	397	310	87
Total	6,152	49	42	830	1,625	1,471	154

Figure 1: Pedra Branca PGE Project property map, highlighting locations of the 2023 drill targets and currently defined resource zones.

Figure 2: Trapiá 1 Deposit long section (looking NE) highlighting location of the holes drilled in 2023, representing a collective 400 m step-out drilling, with PGE mineralization intercepted in all four holes.

Figure 3: Semi-massive to brecciated sulfides intersected in DD23TU32, with nickel-sulfide grades up to 1.35% Ni, and copper up to 0.29% Cu. Dominant sulfide is pyrrhotite, with subordinate pentlandite and chalcopyrite.

Quality Assurance/Quality Control (“QA/QC”)

CLICK HERE for a summary of ValOre’s policies and procedures related to QA/QC and grade interval reporting.

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 Exploration Manager.

About ValOre Metals Corp.

ValOre Metals Corp. (TSX‐V: VO) 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 52 exploration licenses covering a total area of 56,852 hectares (140,484 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.

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 [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, British Columbia, October 17^th, 2023 – ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTCQB: KVLQF; Frankfurt: KEQ0, “the Company”) today reported assay results from the Salvador Target (“Salvador”) as part of the 2023 Phase 1 drill program at ValOre’s 100%-owned Pedra Branca Platinum Group Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil.

“PGE assays from all four core holes received to date at Salvador confirm consistent, near-surface, high-grade PGE mineralization at this new discovery,” stated Thiago Diniz, Exploration Manager, ValOre Metals Corp. “The evolution of Salvador from concept to discovery demonstrates ValOre’s proven exploration methodology and the team’s ability to identify and advance significant resource targets property-wide. We look forward to continuing to grow Salvador through drilling for potential inclusion in our next mineral resource update.”

Salvador PGE Target Highlights

• Assay results received for three additional core holes drilled at Salvador include:
  • 46.05 metres (“m”) at 1.96 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”) with mineralization starting from (“from”) 77.15 m, including 10 m at 5.02 g/t 2PGE+Au from 88.65 m in drill hole DD23MES04;
  • 49.6 m at 1.25 g/t 2PGE+Au from 47.2 m, including 15.8 m at 2.22 g/t 2PGE+Au from 55.2 m in drill hole DD23MES03;
  • 78.95 m at 0.96 g/t 2PGE+Au from 64 m, including 41.5 m at 1.34 g/t 2PGE+Au from 64.5 m in drill hole DD23MES02;
• A total of 1,056 m were drilled in 8 holes, with target ultramafic (“UM”) rocks intersected in 7 of those holes. Assays are pending for the remaining 3 of 7 UM-bearing holes, spanning 400 m of strike within a 1.3-kilometre-long (“km”) mineralized trend;
• Assay results received for the remaining 2 of 4 Salvador surface trenches (totalling 145 m that exposed 120 m of UM rocks in all trenches) include:
  • 14 m at 0.66 g/t 2PGE+Au, including 5 m at 1.15 g/t 2PGE+Au in trench TR23MES03;
  • 27 m at 0.50 g/t 2PGE+Au in trench TR23MES04;
• Follow-up mapping, soil sampling and Trado^® augering are in progress, focusing on the open trends to the north and south of Salvador’s main zone.

Table 1: Core Assay Highlights (g/t 2PGE+Au) Reported Today

Target	Hole ID	From (m)	To (m)	Length (m)*	2PGE+Au (g/t)
Salvador	DD23MES02	64.00	142.95	78.95	0.96
		64.50	106.00	41.50	1.34
Salvador	DD23MES03	47.15	96.75	49.60	1.25
		55.20	71.00	15.80	2.22
Salvador	DD23MES04	77.15	123.20	46.05	1.96
		79.90	81.45	1.55	5.23
		88.65	98.65	10.00	5.02

*Reported core assay interval lengths are estimated to represent 95-100% of true width for the angled hole DD23MES03 and 65 and 80% for the vertical holes DD23MES02 and DD23MES04, respectively.

2023 Pedra Branca Drill Program Summary

• 6,152 m drilled in 49 holes distributed along 8 separate exploration target and resource zones (see ValOre news release of September 21, 2023);
• 1,625 core samples sent to lab, with assays pending for 331 samples from 10 holes.

Table 2: 2023 Pedra Branca Drilling Totals and Assay Status by Zone

Target	Total Drilled (m)	# Holes	# Holes w/ UMs	Total UMs (m)	Core Samples	Assays Received	Assays Pending
Galante	790	11	11	190	384	384	0
Tróia	1,029	9	6	72	188	188	0
Nambi	665	6	6	74	203	185	18
Ipueiras	228	4	3	27	83	34	49
Massapê	380	4	3	19	48	48	0
Cedro	545	2	1	4	14	14	0
Trapiá 1	1,326	4	4	175	272	95	177
Trapiá South	133	1	1	4	36	36	0
Salvador	1,056	8	7	265	397	310	87
Total	6,152	49	42	830	1,625	1,294	331

Figure 1: Pedra Branca project property map, highlighting locations of the 2023 drill targets and current resource zones.

Figure 2: Plan map and cross sections along the main zone at Salvador. Assays reported for four of seven UM-bearing holes drilled. Highlights reported here include drill holes DD23MES02, DD23MES03 and DD23MES04, and trenches TR23MES03 and TR23MES04. Assays pending for the remaining holes.

Figure 3: Core photographs of PGE-bearing chromitites and peridotites intersected at Salvador. Photo on the left showing a PGE-rich chromitite portion of the high-grade interval at DD23MES04 (10 m at 5.02 g/t 2PGE+Au from 88.65 m).

Quality Assurance/Quality Control (“QA/QC”)

CLICK HERE for a summary of ValOre’s policies and procedures related to QA/QC and grade interval reporting.

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 Exploration Manager.

About ValOre Metals Corp.

ValOre Metals Corp. (TSX‐V: VO) 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 52 exploration licenses covering a total area of 56,852 hectares (140,484 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.

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 [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, British Columbia, October 4^th, 2023 – ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTCQB: KVLQF; Frankfurt: KEQ0, “the Company”) today reported initial Salvador core assay results from the recently completed 2023 Phase 1 drill program at ValOre’s 100%-owned Pedra Branca Platinum Group Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil.

“Results from trenching and drilling confirm an exciting and significant discovery at Pedra Branca and demonstrate the team’s ability to successfully advance previously untested zones along the Troia trend,” stated Thiago Diniz, Exploration Manager, ValOre Metals Corp. “The Salvador drilling program was designed to test 400 metres of strike within a 1.3-kilometre-long mineralized trend. Chromite-bearing ultramafic rocks were intercepted in 7 of 8 holes drilled in the target, showing great thickness and depth continuity. We look forward to receiving assay results from the remaining 6 holes while we expand the field program to test mineralization continuity to the north and south of the main zone, through additional mapping, soil, Trado^® and trenching.”

Salvador Target Highlights

• Core assay results received for the first of seven ultramafic-bearing (“UM”) holes at the Salvador target, with a total of 1,056 metres (“m”) drilled;
  • 43.85 m at 0.76 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”) starting from 45.25 m, including 10.85 m at 1.19 g/t 2PGE+Au from 51.3 m, and 6.05 m at 1.35 g/t 2PGE+Au from 80.45 m;
• Trench assay results reported for 2 of 4 trenches excavated in the target. Total of 145 m excavated in 4 trenches, with UM rocks exposed in all four trenches (120 m);
  • TR23MES01 : 55 m at 0.80 g/t 2PGE+Au
  • TR23MES02 : 25 m at 1.15 g/t 2PGE+Au
• Assays pending for the remaining 6 Salvador core holes and trenches, spanning 400 m of strike within a 1.3-kilometre-long (“km”) mineralized trend;
• Additional mapping, soil sampling and Trado^® drilling are in progress aiming at detailing PGE mineralization continuity at surface to the north and south of the main zone.

2023 Drill Program

• 6,152 m drilled in 49 holes distributed along 8 separate exploration and resource zones (see ValOre news release of September 21, 2023);
• 1,625 core samples sent to lab, with assays pending for 572 samples from 13 holes.

 

Table 1: Drilling Totals and Assay Status by Zone

Target	Total Drilled (m)	# Holes	# Holes w/ UMs	Total UMs (m)	Core Samples	Assays Received	Assays Pending
Galante	790	11	11	190	384	384	0
Tróia	1,029	9	6	72	188	188	0
Nambi	665	6	6	74	203	185	18
Ipueiras	228	4	3	27	83	34	49
Massapê	380	4	3	19	48	48	0
Cedro	545	2	1	4	14	14	0
Trapiá 1	1,326	4	4	175	272	95	177
Trapiá South	133	1	1	4	36	36	0
Salvador	1,056	8	7	265	397	69	328
Total	6,152	49	42	830	1,625	1,053	572

Table 2: Core Assay Highlights (g/t 2PGE+Au) Reported Today

Target	Hole ID	From (m)	To (m)	Length* (m)	2PGE+Au (g/t)
Salvador	DD23MES01	45.25	89.10	43.85	0.76
		51.30	62.15	10.85	1.19
		80.45	86.50	6.05	1.35

*Reported core assay interval lengths are estimated to represent 90-100% of true width.

Figure 1: Pedra Branca project property map, highlighting locations of the 2023 drill targets and current resource zones.

Figure 2: Cross sections along the main zone at the Salvador target. Assays reported for trenches TR23MES01 and TR23MES02 and drill hole DD23MES01. Assays pending for the remaining holes and trenches.

Figure 3: Core photographs of the chromite-bearing PGE-rich peridotites intersected in drill hole DD23MES01 (6.05 m grading 1.35 g/t 2PGE+Au from 80.45 m within the broader intercept of 43.9 m grading 0.76 g/t 2PGE+Au).

Quality Assurance/Quality Control (“QA/QC”)

CLICK HERE for a summary of ValOre’s policies and procedures related to QA/QC and grade interval reporting.

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 Exploration Manager.

About ValOre Metals Corp.

ValOre Metals Corp. (TSX‐V: VO) 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 52 exploration licenses covering a total area of 56,852 hectares (140,484 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.

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 [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, British Columbia, September 25^th, 2023 – ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTCQB: KVLQF; Frankfurt: KEQ0, “the Company”) today reported initial assay results from the recently completed 2023 Phase 1 core drilling at ValOre’s 100%-owned Pedra Branca Platinum Group Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil.

“Drill results from DD23TU33 indicate a broad interval of high-grade mineralization intersected in a 150-metre step out hole to the south of the existing resource at Trapia 1, underscoring the resource expansion potential. Importantly, this broad intersection contains a higher-sulphide, high-grade PGE-Ni-Cu interval that may be amenable to targeting by geophysical methods,” stated Thiago Diniz, Exploration Manager, ValOre Metals Corp. “Trapia 1 results have ramifications at other known zones across the Pedra Branca project, as they clearly demonstrate significant resource expansion potential at depth and down dip of previous drilling.”

Highlights

Trapia 1

• Assay results received for the first of four holes drilled in 2023 at the Trapia 1 deposit (total 1,326 m);
  • 71.8 metres (“m”) at 1.59 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”) starting from 235.9 m, including 8.15 m at 10.54 g/t 2PGE+Au, 0.37% Ni and 0.11% Cu;
  • High-grade palladium-platinum and nickel-copper mineralization occurs in association with a sulfide-rich peridotitic horizon at the bottom of the chromitite reef, and is characterized by up to 5% disseminated to brecciated pyrrhotite, pyrite, pentlandite and chalcopyrite (Figures 3 and 4);
• PGE mineralization intercepted 150 m outside of the existing 2022 NI 43-101 resource at Trapia 1 (480,000 oz of the total Trapia 2022 NI 43-101 resource of 885,000 oz at 0.96 g/t);
• Assays pending for the remaining Trapia 1 holes, including DD23TU35 located up-dip of DD23TU33; and DD23TU32, representing an additional 150 m step out to the south, along strike and down-plunge of DD23TU33.

2023 Drill Program

• 6,152 m drilled in 49 holes distributed along 8 separate exploration and resource zones (see ValOre news release of September 21, 2023);
• 1,625 core samples sent to lab, with assays pending for 641 samples from 14 holes.
• Recently received assays results also include near-surface PGE mineralization drilled in the Ipueiras target, including:
  • 11.85 m grading 0.55 g/t 2PGE+Au from surface, incl. 0.9 m grading 1.58 g/t 2PGE+Au from 2.65 m in drill hole DD23IP04;

Table 1: Drilling Totals by Zone

Target	Total Drilled (m)	# Holes	# Holes w/ UMs	Total UMs (m)	Core Samples	Assays Received	Assays Pending
Galante	790	11	11	190	384	384	0
Tróia	1,029	9	6	72	188	188	0
Nambi	665	6	6	74	203	185	18
Ipueiras	228	4	3	27	83	34	49
Massapê	380	4	3	19	48	48	0
Cedro	545	2	1	4	14	14	0
Trapiá South	133	1	1	4	36	36	0
Trapiá 1	1,326	4	4	175	272	95	177
Salvador	1,056	8	7	265	397	0	397
Total	6,152	49	42	830	1,625	984	641

Table 2: Core Assay Highlights (g/t 2PGE+Au) reported today

Target	Hole ID	From (m)	To (m)	Length (m)	2PGE+Au (g/t)	Summary Interval
Trapiá	DD23TU33	235.90	307.70	71.80	1.59	71.8 m @ 1.59 g/t 2PGE+Au from 235.9 m incl. 8.15 m @ 10.54 g/t 2PGE+Au, 0.37% Ni, 0.11% Cu from 258.85 m and 0.6 m @ 46.07 g/t 2PGE+Au from 259.5 m
		258.85	267.00	8.15	10.54
		259.50	260.10	0.60	46.07
Ipueiras	DD23IP04	0.00	11.85	11.85	0.55	11.85 m @ 0.55 g/t 2PGE+Au from surface incl. 0.9 m @ 1.58 g/t 2PGE+Au from 2.65 m
		2.65	3.55	0.90	1.58

**Reported core assay interval lengths are estimated to represent 90-100% of true width.

Figure 1: Pedra Branca project property map, highlighting locations of the 2023 drill targets and current resource zones (“Trapia” comprises four 2022 NI 43-101 resources zones: Trapia 1, Trapia 2, Trapia West and Trapia South).

Figure 2: Trapiá 1 Deposit long section (looking NE) highlighting location of drill hole DD23TU33 (today’s release) and the 300 m step out drilling at DD23TU32, for which assays are pending.

Figure 3: Core photographs of the high-grade PGE zone intercepted in drill hole DD23TU33. Mineralization hosted within chromite reef and sulfide-rich peridotites.

Figure 4: Detailed core photographs of high-grade PGE-(Ni-Cu) mineralized peridotites (left) and >40 g/t 2PGE+Au chromitite reef (right) intercepted in diamond drill hole DD23TU33.

Quality Assurance/Quality Control (“QA/QC”)

CLICK HERE for a summary of ValOre’s policies and procedures related to QA/QC and grade interval reporting.

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 Exploration Manager.

About ValOre Metals Corp.

ValOre Metals Corp. (TSX‐V: VO) 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 52 exploration licenses covering a total area of 56,852 hectares (140,484 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 (CLICK HERE for news release dated March 24, 2022). ValOre’s team believes the Pedra Branca project has significant exploration discovery and resource expansion potential.

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 [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.