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Exploration & Drilling

Vancouver, B.C. ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTCQB: KVLQF; Frankfurt: KEQ0, “the Company”) today reported trench assay results from the Nambi (“Nambi”) and Trado® auger from the São Francisco (“São Francisco”) pipeline targets at ValOre’s 100%-owned Pedra Branca Platinum Group Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil.

“We are very encouraged with the potential of both the Nambi and São Francisco targets, as they evolve into excellent drill targets for Q1, 2023,” stated ValOre’s VP of Exploration, Colin Smith. “Results at both targets indicate palladium-platinum mineralization at scale with opportunities for expansion. At Nambi, mineralization along 1.2 kilometres of geological trend remains open at depth, and at São Francisco, trenching is in progress to follow-up encouraging assay results from 14 Trado® auger holes received to date.”

Nambi Trenching PGE Assay Highlights:

  • 17 metres (“m”) grading 0.80 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”), incl. 6.0 m grading 1.65 g/t 2PGE+Au – Trench TR22NB03;
  • 6.0 m grading 1.28 g/t 2PGE+Au, incl. 4.0 m grading 1.77 g/t 2PGE+Au – Trench TR22NB02;
  • 10 m grading 0.84 g/t 2PGE+Au, incl. 3.0 m grading 1.65 g/t 2PGE+Au – Trench TR22NB01.

São Francisco Trado® Auger PGE Assay Highlights:

  • 2.5 m grading 1.05 g/t 2PGE+Au from surface – Trado® hole AD22SF02;
  • 5.0 m grading 0.66 g/t 2PGE+Au from surface – Trado® hole AD22SF03;
  • 1.5 m grading 0.89 g/t 2PGE+Au from surface – Trado® hole AD22SF012;
  • 2.5 m grading 0.65 g/t 2PGE+Au from surface – Trado® hole AD22SF09.

Exploration Update Summary

Nambi and São Francisco represent pipeline targets under evaluation by ValOre’s sequential exploration methodology, which assesses the near-surface PGE potential of showings throughout the Pedra Branca district. CLICK HERE for São Francisco news release dated September 12, 2022, and CLICK HERE for Nambi news release dated September 14, 2022.

At Nambi, 4 trenches totaling 108 m all exposed target ultramafic (“UM”) rocks, establishing an in situ geological trend of approximately 1.2 km. PGE assays are reported herein for trenches TR22NB01 to TR22BB03 (Table 1) and 31 sample results are pending for the final trench (TR22NB004 – 31 m in length), which intercepted 21 m of UMs.

At São Francisco, a total of 73 m in 20 Trado® auger holes have been drilled, with UMs encountered in all holes (61 m total). Assays are reported herein for 14 holes (Table 2) and are pending for 6 holes. Follow-up trenching is in progress, with 182 m in 4 trenches excavated thus far, and an aggregate of 123 m of UMs encountered in all trenches.

Trado® end of hole (“EOH”) depths typically represent that the auger has entered impenetrable bedrock, so mineralization and UM rocks present at EOH remain open at depth and require follow-up core or RC drilling.

Follow-up field exploration campaigns are in progress to assess prospectivity along trends at Nambi and São Francisco. To date, both targets meet the criteria of zones which warrant further testing by core and/or RC drilling.

Table 1: Trench Channel Sample Assay Highlights for Nambi Target.

Target Trench ID From
(m)		 To
(m)		 Length
(m)		 2PGE+Au
(g/t)		 2PGE+Au Interval Summary*
Nambi TR22NB01 16 26 10 0.84 10 m grading 0.84 g/t 2PGE+Au
22 25 3 1.65 incl. 3 m grading 1.65 g/t 2PGE+Au
Nambi TR22NB02 10 16 6 1.28 6 m grading 1.28 g/t 2PGE+Au
12 16 4 1.77 incl. 4 m grading 1.77 g/t 2PGE+Au
Nambi TR22NB03 3 20 17 0.8 17 m grading 0.80 g/t 2PGE+Au
9 15 6 1.65 incl. 6 m grading 1.65 g/t 2PGE+Au

*Reported trench assay interval lengths are channel samples and estimated to represent 85-90% true width.

Table 2: Trado® Auger Drilling Highlights for São Francisco Target.

Target Hole ID From
(m)		 To
(m)		 Length
(m)		 2PGE+Au
(g/t)		 2PGE+Au Interval Summary
São Francisco AD22SF01 0 7 7 0.29 7 m grading 0.29 g/t 2PGE+Au from surface
São Francisco AD22SF02 0 2.5 2.5 1.05 2.5 m grading 1.05 g/t 2PGE+Au from surface
0 1 1 2.14 incl. 1 m grading 2.14 g/t 2PGE+Au from surface
São Francisco AD22SF03 0 5 5 0.66 5 m grading 0.66 g/t 2PGE+Au from surface
São Francisco AD22SF05 0 4 4 0.22 4 m grading 0.22 g/t 2PGE+Au from surface
São Francisco AD22SF06 0 4 4 0.27 4 m grading 0.27 g/t 2PGE+Au from surface
São Francisco AD22SF07 0 2 2 0.26 2 m grading 0.26 g/t 2PGE+Au from surface
São Francisco AD22SF08 0 2 2 0.13 2 m grading 0.13 g/t 2PGE+Au from surface
São Francisco AD22SF09 0 2.5 2.5 0.65 2.5 m grading 0.65 g/t 2PGE+Au from surface
1 2 1 1.11 incl. 1 m grading 1.11 g/t 2PGE+Au from 1 m
São Francisco AD22SF10 0 10 10 0.22 10 m grading 0.22 g/t 2PGE+Au from surface
São Francisco AD22SF11 1 2 1 0.13 1 m grading 0.13 g/t 2PGE+Au from 1 m
São Francisco AD22SF12 0 1.5 1.5 0.89 1.5 m grading 0.89 g/t 2PGE+Au from surface
São Francisco AD22SF13 0 1.7 1.7 0.19 1.7 m grading 0.19 g/t 2PGE+Au from surface
São Francisco AD22SF14 0 3 3 0.24 3 m grading 0.24 g/t 2PGE+Au from surface

Figure 1

Figure 1: Plan map of the Nambi target, locating 2022 trenches excavated along the main mineralized trend.

Figure 1

Figure 2: Plan map of the São Francisco target, locating Trado® auger holes drilled along the main mineralized trend.

About the Trado® Auger and Trenching Methodology

CLICK HERE for more information regarding Trado® Auger and Trenching methodology.

Quality Control/Quality Assurance (“QA/QC”) and Grade Interval Reporting

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 Colin Smith, 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 portfolio of high‐quality exploration projects. ValOre’s team aims 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, process improvement, and innovation.

In May 2019, ValOre announced the acquisition of the Pedra Branca Platinum Group Elements (PGE) property, in Brazil, to bolster its existing Angilak uranium, Genesis/Hatchet uranium and Baffin gold projects in Canada.

The Pedra Branca PGE 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). All the currently known Pedra Branca inferred PGE resources are potentially open pittable.

Comprehensive exploration programs have demonstrated the "District Scale" potential of ValOre’s Angilak Property in Nunavut Territory, Canada that hosts the Lac 50 Trend having a current Inferred Resource of 2,831,000 tonnes grading 0.69% U3O8, totaling 43.3 million pounds U3O8. For disclosure related to the inferred resource for the Lac 50 Trend uranium deposits, please CLICK HERE for ValOre's news release dated March 1, 2013.

ValOre’s team has forged strong relationships with sophisticated resource sector investors and partner Nunavut Tunngavik Inc. (NTI) on both the Angilak and Baffin Gold Properties. ValOre was the first company to sign a comprehensive agreement to explore for uranium on Inuit Owned Lands in Nunavut Territory and is committed to building shareholder value while adhering to high levels of environmental and safety standards and proactive local community engagement.

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 604.653.9464, 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.

Palladium and platinum mineralization defined at surface along 1.2-kilometre-long trend

Vancouver, B.C. ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today announced Trado® auger sample assay results from the Nambi target (“Nambi”) at ValOre’s 100%-owned Pedra Branca Platinum Group Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil. The Nambi target is located 1 kilometre (“km”) north of and along trend from the Trapia PGE deposit (NI 43-101 inferred resource 885,000 oz 2PGE+Au grading 0.96 g/t in 28.8 Mt) and 1 km south of the Massapê PGE deposit (NI 43-101 inferred resource129,000 oz 2PGE+Au grading 1.21 g/t in 3.3 Mt).

“We are very encouraged by the assay results received for Trado® auger samples collected at the Nambi target, with 12 holes returning PGE mineralization from surface to a depth of 11 m,” stated ValOre’s VP of Exploration, Colin Smith. “Follow up exploration at Nambi has begun, with the excavation of 4 trenches along the 1.2-kilometre-long PGE-mineralized trend. Sampling and geological mapping highlights include 5 m of chromitite-rich UMs exposed in the central trench, TR22NB02.”

Nambi Trado® Auger Assay Highlights:

  • 10 metres (“m”) grading 0.46 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”) from surface;
  • 11 m grading 0.40 g/t 2PGE+Au from surface;
  • 3 m grading 0.92 g/t 2PGE+Au from surface;
  • 1.5 m grading 1.83 g/t 2PGE+Au from surface;
  • 1.5 m grading 1.43 g/t 2PGE+Au from surface.

Nambi 2022 Exploration Program

The Nambi target area, situated just a few kilometres from the 2022 NI 43-101 inferred resource areas of Trapia and Massapê (see Figure 1), is characterized by historical geophysical (magnetic high) and geochemical anomalies (PGE-in-soils and rock samples >7 g/t 2PGE+Au). ValOre conducted detailed geological mapping and prospecting along the anomalous trend and subsequently followed up with 75 Trado® auger holes totaling 178 m. At-surface, ultramafic (“UM”) or UM-derived rocks were intercepted in 30 of 75 Trado® holes, with significant PGE mineralization reported in 12 of the 30 UM-bearing Trado® holes, defining a PGE-mineralized trend of 1.2 km.

Trado® auger assay highlights include some of the thickest UM intervals augered by the Trado® at Pedra Branca to date, including holes AD22NB63 and AD22NB64, which returned 10 m grading 0.46 g/t 2PGE+Au and 11 m grading 0.40 g/t 2PGE+Au respectively, and elevated PGE assay  intercepts in the central portion of the target, including holes AD22NB12, which returned 1.5 m grading 1.83 g/t 2PGE+Au and AD22NB26, with 3 m grading 0.92 g/t 2PGE+Au. See Table 1 below for a summary of significant Trado® assay results.

End-of-hole depths typically represent the onset of impenetrable unweathered bedrock, indicating that mineralization and UMs remain fully open at depth and require follow-up core or Reverse Circulation (“RC”) drilling.

Table 1: Trado® Auger Drilling Highlights for Nambi Target.

Hole ID From (m) To (m) Length (m) 2PGE+Au (g/t) 2PGE+Au Interval Summary
AD22NB05 0.00 4.00 4.00 0.17 4 m grading 0.17 g/t 2PGE+Au from surface
AD22NB11 0.00 2.00 2.00 0.23 2 m grading 0.23 g/t 2PGE+Au from surface
AD22NB12 0.00 1.50 1.50 1.83 1.5 m grading 1.83 g/t 2PGE+Au from surface
AD22NB21 0.00 1.50 1.50 0.52 1. 5 m grading 0.52 g/t 2PGE+Au from surface
AD22NB25 0.00 1.50 1.50 1.43 1.5 m grading 1.43 g/t 2PGE+Au from surface
AD22NB26 0.00 3.00 3.00 0.92 3 m grading 0.92 g/t 2PGE+Au from surface
AD22NB33 0.00 1.50 1.50 0.28 1.5 m grading 0.28 g/t 2PGE+Au from surface
AD22NB35 0.00 6.50 6.50 0.40 6.5 m grading 0.40 g/t 2PGE+Au from surface
AD22NB44 0.00 1.00 1.00 0.16 1 m grading 0.16 g/t 2PGE+Au from surface
AD22NB63 0.00 10.00 10.00 0.46 10 m grading 0.46 g/t 2PGE+Au from surface
AD22NB64 0.00 11.00 11.00 0.40 11 m grading 0.40 g/t 2PGE+Au from surface
AD22NB65 0.00 1.00 1.00 0.71 1 m grading 0.71 g/t 2PGE+Au from surface

The PGE-bearing Trado® auger assay results warranted follow-up trenching to investigate in-situ continuity of the PGE-mineralized UM and UM-derived sequences along the 1.2-km-long trend.

Of the 4 planned trenches, 3 have been excavated to date (77 m total) with all 3 trenches confirming UM and UM-derived rocks continuity along strike. Sampling and geological mapping of all trenches are in progress, with highlights including 5 m of chromitites and chromitite-rich UMs intercepted in the central trench, TR22NB02.

Historical Core Drilling

One historical core drill hole (DD14NB01, see Figure 1) was drilled in 2014 by Anglo American Platinum at the south end of the central anomalous zone at Nambi. No PGEs were reported.

ValOre relogged and re-sampled a core interval interpreted to represent altered UM-derived rocks which were not previously sampled. Anomalous PGE grades were reported from 19 to 24 m, with results up to 0.10 g/t 2PGE+Au in two samples (at 19 m and at 24 m depth).

These reassay results, along with Trado, trenching and mapping data, suggest that the target PGE-mineralized UM sequence is locally thinning in the region of drill hole DD14NB01; however, the presence of PGE-bearing UM-derived rocks indicated geological continuity of the prospective layer towards the southernmost mineralized Trado® holes, where 11-m-thick peridotites have been intercepted in trench TR22NB01 (assays pending).

ValOre’s interprets that the historical core hole targeted the magnetic anomaly but did not test the UM and chromitite showings occurring just a few metres to the north and south of the drill hole location.

PGE-bearing ultramafic rocks remain open and underexplored, at depth and along strike, over the 1.2-km-long trend that defines the Nambi target zone.

Figure 1

Figure 1: Plan map of Nambi target, locating Trado® auger holes and trenching along the main mineralized trend.

About the Trado® Auger and Trenching methodology

CLICK HERE for more information regarding Trado® Auger and Trenching methodology

Quality Control/Quality Assurance (“QA/QC”) and Grade Interval Reporting

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 Colin Smith, 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 portfolio of high‐quality exploration projects. ValOre’s team aims 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, process improvement, and innovation.

In May 2019, ValOre announced the acquisition of the Pedra Branca Platinum Group Elements (PGE) property, in Brazil, to bolster its existing Angilak uranium, Genesis/Hatchet uranium and Baffin gold projects in Canada.

The Pedra Branca PGE 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). All the currently known Pedra Branca inferred PGE resources are potentially open pittable.

Comprehensive exploration programs have demonstrated the "District Scale" potential of ValOre’s Angilak Property in Nunavut Territory, Canada that hosts the Lac 50 Trend having a current Inferred Resource of 2,831,000 tonnes grading 0.69% U3O8, totaling 43.3 million pounds U3O8. For disclosure related to the inferred resource for the Lac 50 Trend uranium deposits, please CLICK HERE for ValOre's news release dated March 1, 2013.

ValOre’s team has forged strong relationships with sophisticated resource sector investors and partner Nunavut Tunngavik Inc. (NTI) on both the Angilak and Baffin Gold Properties. ValOre was the first company to sign a comprehensive agreement to explore for uranium on Inuit Owned Lands in Nunavut Territory and is committed to building shareholder value while adhering to high levels of environmental and safety standards and proactive local community engagement.

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 604.653.9464, 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. ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today provided an update on the 2022 core drilling program at ValOre’s 100% owned 59,483-hectare Angilak Property Uranium Project (“Angilak”), located in Nunavut Territory, Canada.

“The 2022 summer core drilling program at the Dipole and J4 West target areas was very successful, with radioactivity intercepted in 23 of 26 holes drilled,” stated ValOre’s VP of Exploration, Colin Smith. “The results from Dipole are particularly impressive, with scintillometer readings of up to 60,000 counts-per-second in hole 22-DP-010 and five separate holes at Dipole each intersecting 10 or more distinct zones of radioactivity. We look forward to receiving the uranium assay results from these 23 core holes, in addition to the assays from 24 reverse circulation holes drilled earlier this season.”

The Dipole and J4 West target areas warranted follow-up drilling due to strong radioactive intercepts in 22 of 27 holes in the spring 2022 RC drill program.

Highlights from the Summer 2022 Core Drill Program:

  • Radioactivity intercepted in 23 of 26 holes, with 3 holes lost shortly after casing;
  • 3,590 metres (“m”) drilled in 26 holes;
  • Dipole Zone – 2,664 m drilled in 16 holes with highlight counts-per-second (“CPS”)  intersections of:
    • 60,000 CPS recorded in 1 of 5 radioactive zones intersected in 22-DP-010
    • 6,978 CPS recorded in 1 of 17 radioactive zones intersected in 22-DP-009
    • 12,000 CPS recorded in 1 of 6 radioactive zones intersected in 22-DP-002
    • 11,380 CPS recorded in 1 of 10 radioactive zones intersected in 22-DP-012;
  • J4 West – 926 m drilled in 10 holes:
    • 15,821 CPS recorded in radioactive zone intersected in 22-J4W-003.

2022 Core Drill Program Summary

Of the 3,590 total metres drilled in 26 holes, 2,664 m (16 holes from 8 pads) were drilled at the Dipole target and 926 m (10 holes from 6 pads) were drilled at J4 West. Five holes were abandoned prior to target depth. Drill pad spacings of 50-metres along strike and 100-metre step-outs down-dip were maintained to facilitate potential future inferred resource re-estimations. All drilling and core logging is now complete with samples to be shipped to the assay laboratory this week. Uranium assay results will be reported when received.

2022 Dipole Core Program Summary

2022 core drilling at Dipole tested the down-dip extension and along-strike continuity of high-grade U3O8 intercepts resulting from the ValOre 2015 core drill program (CLICK HERE for news release dated October 19, 2015), and radioactive scintillometer intercepts from the 2022 RC drill program (CLICK HERE for news release dated May 9, 2022, and CLICK HERE for news release dated June 2, 2022).

A 25- to 55-m-wide structural zone of multiple, steeply dipping radioactive intervals hosted in a sequence of foliated basalt was intercepted in all 2022 core holes (Table 1). This zone correlates well with intercepts drilled in the 2022 RC and 2015 core drill programs. The strongly radioactive intervals (up to 60,000 CPS at 140 m vertical depth in drill hole 22-DP-010) are characterized by intensely hematized and brecciated graphitic tuffs.

Intercepts from the 2022 core program demonstrate that surface uranium mineralization extends to a minimum vertical depth of 275 m. Three down-dip holes (22-DP-009, 22-DP-011A, and 22-DP-012) were completed to planned lengths, with all three hitting the structural zone and radioactive hematized brecciated tuffs, returning hand-held scintillometer readings of up to 10,000 CPS (drill hole 22-DP-012 at 260 m vertical).

2022 core drill holes 22-DP-008 (-45° dip) and 22-DP-010 (-75° dip) were drilled from the same pad, 250 m northwest of the main zone defined in the 2015 core program and served to follow-up shallow radioactive intercepts from the 2022 RC program. Both holes drilled a near-surface radioactive zone at approximately 50 m and 70 m vertical depth, respectively; however, a second and unexpected zone of intense radioactivity (60,000 CPS) was intercepted in the steeper hole (22-DP-010) at 145 m vertical depth. This discovery suggests an additional mineralized structure remained untested by the up-dip 22-DP-008. Consequently, a decision was made to re-enter and extend hole 22-DP-008 to test for the presence of this new zone, and two additional intercepts were encountered at 75 m (3,500 CPS) and 100 m (10,000 CPS) vertical depths. To further corroborate this finding, a single up-dip hole was drilled 75 m to the southeast, and the zone was again intersected between 15 and 27 m vertical depths with CPS readings up to 2,000.

The Dipole target remains open at depth, and along strike in both directions.

2022 J4 West Core Drill Program Summary

2022 core drilling at the J4 West target area tested the along-strike continuity of radioactive intercepts drilled in the 2022 RC program (CLICK HERE for news release dated June 15, 2022), and high-grade U3O8 intercepts returned from three 2013 core holes, which returned uranium assay highlights of 1.06% U3O8 over 0.3 m in 13-J1-002, and 0.56% U3O8, 0.28% Mo, 15.5 g/t Ag over 0.6 m in 13-J1-003.

All 2022 core drill holes intercepted anomalous radioactivity (>350 CPS) and defined a radioactive structural corridor of 350 m which remains open at depth and along strike to the west. Radioactive zones are characterized by a hematite-altered, graphitic/sulfidic tuff layer hosted within a broader package of foliated basalt. A highlight of 15,821 CPS was returned at 149 m vertical depth in drill hole 22-J4W-003 (Table 1).

Table 1: 2022 Core Drilling Summary (Scintillometer CPS Radioactivity)

Target Hole ID Dip Depth
(m)		 Progress CPS* From-To
(m)		 Number of
Zones
Dipole 22-DP-001 -70 78.00 Lost. EOH. 4,000 49.82 – 50.20 1
Dipole 22-DP-002 -75 184.00 EOH 12,000 57.80 – 58.11 6
Dipole 22-DP-003 -45 16.00 Lost. EOH. – – 0
Dipole 22-DP-003A -45 114.00 EOH 315 70.75 – 70.85 2
Dipole 22-DP-004 -70 169.00 EOH 1,377 79.45 – 79.53 12
Dipole 22-DP-005 -82 211.00 EOH 530 113.18 – 113.29 16
Dipole 22-DP-006 -65 145.00 EOH 7,238 75.13 – 75.25 8
Dipole 22-DP-007 -82 202.00 EOH 850 103.60 – 103.68 10
Dipole 22-DP-008 -45 165.00 EOH 10,000 142.00 – 143.00 6
Dipole 22-DP-009 -55 250.00 EOH 6,978 171.73 – 171.93 17
Dipole 22-DP-010 -70 178.00 EOH 60,000 153.5 – 153.87 5
Dipole 22-DP-011 -70 6.00 Lost. EOH. – – 0
Dipole 22-DP-011A -70 322.00 EOH 500 223.85 – 224.53 7
Dipole 22-DP-012 -62 334.00 EOH 11,380 288.95 – 289.38 10
Dipole 22-DP-013 -45 130.00 EOH 2,000 39.00 – 39.10 4
Dipole 22-DP-014 -45 160.00 EOH 4,200 130.36 – 130.52 6
J4West 22-J4W-001 -45 79.00 EOH 5,000 55.65 – 55.75 1
J4West 22-J4W-002 -75 109.00 EOH 7,750 74.25 – 74.35 2
J4West 22-J4W-003 -90 149.00 EOH 15,821 79.87 – 80.29 1
J4West 22-J4W-004 -45 79.00 EOH 350 54.00 – 54.10 1
J4West 22-J4W-005 -75 103.00 Lost, EOH 495 69.92 – 70.00 2
J4West 22-J4W-006 -45 79.00 EOH 2,398 54.31 – 54.34 2
J4West 22-J4W-007 -75 31.00 Lost, EOH – – 0
J4West 22-J4W-007A -75 109.00 EOH 350 74.20 – 74.26 1
J4West 22-J4W-008 -45 79.00 EOH 770 18.66 – 18.71 4
J4West 22-J4W-009 -75 109.00 EOH 500 77.58 – 77.65 1

*Max CPS values are from the most radioactive zone in each core hole

Figure 1: Plan Map, Dipole Target

Figure 2: Plan Map, J4 West Target

About Angilak

The 59,483-hectare Angilak Property is situated in the mining- and exploration-friendly Nunavut Territory, Canada, and has district-scale potential for uranium, precious and base metals. Since acquisition, ValOre has invested over CAD$55 million on resource delineation and exploration drilling (89,572 metres in 589 drill holes), metallurgy, geophysics, geochemistry, and logistics across the large land package. This work supported the development of the significant Lac 50 Trend NI 43-101 inferred uranium resource estimate (“Lac 50”).

The Lac 50 NI 43-101 Technical Report (effective date March 1, 2013) defined an inferred resource estimate which represents Canada’s highest-grade uranium resource outside of Saskatchewan, and one of highest-grade uranium resources on a global basis. Highlights include:

  • 43.3 Mlbs U3O8 in 2,831,000 tonnes grading 0.69% U3O8, CLICK HERE for a summary table of the Lac 50 Trend inferred resource estimate;
  • Supported by 351 resource delineation drill holes totaling 62,023 metres (“m”);
  • Metallurgical results for Lac 50 demonstrate high uranium recoveries and rapid leach kinetics. See news releases: February 28, 2013, September 11, 2013 and February 27, 2014;
  • Lac 50 Trend is a 15 kilometre (“km”) by 3 km area with excellent potential for resource growth and new discoveries;
  • Uranium mineralization starts at surface, and has been drilled to 380 m vertical depth;

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 Colin Smith, P.Geo., ValOre’s QP and Vice President of Exploration.

Information related to the independent Angilak mineral resource estimate has been approved by Michael Dufresne, M.Sc. P.Geo., President of Apex Geoscience Ltd., Robert Sim, P.Geo. of SIM Geological Inc. and Bruce Davis, FAusIMM of BD Resources Consulting Inc., who are independent QPs as defined under NI 43‐101.

Information related to the independent Pedra Branca mineral resource estimate has been approved by Fábio Valério, P.Geo., and Porfirio Cabaleiro, P.Eng., of GE21.

About ValOre Metals Corp.

ValOre Metals Corp. (TSX‐V: VO) is a Canadian company with a portfolio of high‐quality exploration projects. ValOre’s team aims 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, process improvement, and innovation.

In May 2019, ValOre announced the acquisition of the Pedra Branca Platinum Group Elements (PGE) property, in Brazil, to bolster its existing Angilak uranium, Genesis/Hatchet uranium and Baffin gold projects in Canada.

The Pedra Branca PGE 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). All the currently known Pedra Branca inferred PGE resources are potentially open pittable.

Comprehensive exploration programs have demonstrated the "District Scale" potential of ValOre’s Angilak Property in Nunavut Territory, Canada that hosts the Lac 50 Trend having a current Inferred Resource of 2,831,000 tonnes grading 0.69% U3O8, totaling 43.3 million pounds U3O8. For disclosure related to the inferred resource for the Lac 50 Trend uranium deposits, please CLICK HERE for ValOre's news release dated March 1, 2013.

ValOre’s team has forged strong relationships with sophisticated resource sector investors and partner Nunavut Tunngavik Inc. (NTI) on both the Angilak and Baffin Gold Properties. ValOre was the first company to sign a comprehensive agreement to explore for uranium on Inuit Owned Lands in Nunavut Territory and is committed to building shareholder value while adhering to high levels of environmental and safety standards and proactive local community engagement.

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 604.653.9464, 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. ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today announced high-grade rock assay results from the São Francisco target (“São Francisco”) at ValOre’s 100%-owned Pedra Branca Platinum Group Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil.

“Sao Francisco represents an exciting new exploration target, with multiple high-grade PGE grab sample assay results from outcropping chromitites and mineralized ultramafic samples within a 300-metre-long by 100-metre-wide zone,” stated ValOre’s VP of Exploration, Colin Smith. “Trado® auger drilling and soil sampling is on-going at São Francisco, with ultramafic rocks encountered in all 14 auger holes (53 m) completed to date. Follow-up trenching will commence upon receipt and review of the Trado® auger and soil assays.”

São Francisco Rock Sample Assay Highlights:

  • 13.69 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”) – Sample 103250;
  • 12.18 g/t 2PGE+Au – Sample 103243;
  • 6.51 g/t 2PGE+Au – Sample 103249;
  • 1.15 g/t 2PGE+Au – Sample 103241.

São Francisco 2022 Exploration Program

The São Francisco target is located approximately 1 kilometre (“km”) south of the prospective Galante geological corridor, and approximately 8 km north of the Curiu deposit (NI 43-101 inferred resource 150,000 oz 2PGE+Au grading 2.20 g/t in 2.1 Mt). São Francisco has no record of historical field exploration activities, except for 3 shallow diamond drill holes targeting ground magnetic anomalies.

ValOre’s exploration program at the São Francisco target commenced with reconnaissance mapping and prospecting. Several previously un-mapped and unknown chromitite and ultramafic (“UM”) rock outcroppings were identified, defining a 300-metre-long by 100-metre-wide zone. Follow-up soil sampling and Trado® auger drilling is in progress.

Fourteen Trado® auger holes (53 m) have been drilled to date, with UMs intercepted in all 14 holes, from surface to end-of-hole (all 53 m augered), with all holes terminating in impenetrable UMs. To date, 700 soil samples have been collected, covering a trend of approximately 1.8-km-long, along >15 km of soil lines. All Trado® and soil sample assays are pending.

Historical Core Drilling

Three shallow core drill holes were completed by Anglo American Platinum in 2010 to investigate ground magnetic anomalies. Two of three core holes intercepted chromite-bearing UMs, with the following reported PGE grades (catalogued in the historical project database):

  • DD10SF01: 12.25 m grading 0.24 g/t 2PGE+Au from 33.77 m;
  • DD10SF02: 21.45 m grading 0.43 g/t 2PGE+Au from surface.

ValOre’s ongoing exploration program confirms an extension of the known PGE mineralization intercepted in the historical drill program, defines a broader target footprint at surface, and advances Sao Francisco’s potential for mineralization continuity along strike and at depth. Following the receipt and review of phase 1 soil and Trado® auger assays, trenching will further evaluate the near-surface PGE potential of São Francisco before potential Reverse Circulation (“RC”) and/or core drill testing.

Table 1: Rock Assay Highlights for São Francisco Target

Sample ID UTM E UTM N Elev Lithotype Au
(g/t)		 Pd
(g/t)		 Pt
(g/t)		 2PGE+Au
(g/t)
103250 405158 9395866 531 Chromitite 0.04 7.89 5.76 13.69
103243 405177 9395887 537 Chromitite 0.01 7.95 4.22 12.18
103249 405165 9395909 540 Chromitite 0.01 3.27 3.23 6.51
103241 405221 9395920 552 Ultramafic 0.01 0.98 0.16 1.15
103254 405070 9395850 493 Ultramafic derived 0.01 0.30 0.32 0.63
103248 405203 9395985 555 Ultramafic derived 0.01 0.08 0.10 0.19
103242 405260 9395984 562 Ultramafic derived 0.01 0.06 0.07 0.14
103252 405945 9395362 592 Ultramafic derived 0.07 0.03 0.03 0.13

Figure 1

Figure 1: Plan map of São Francisco target, locating high-grade rock samples, Trado® auger holes and soil sampling sites (assays pending).

Figure 2

Figure 2: Photographs of high-grade chromitite and ultramafic rock samples from São Francisco target: A – Sample 103250, 13.69 g/t 2PGE+Au; B – Sample 103243, 12.18 g/t 2PGE+Au; C – Sample 103241, serpentinized peridotite outcrop, 1.15 g/t 2PGE+Au and Trado® auger ‘core’ (D) showing well preserved serpentinized peridotite in hole AD22SF12 (assays pending).

About the Trado® Auger and Trenching methodology

CLICK HERE for more information regarding Trado® Auger and Trenching methodology

Quality Control/Quality Assurance (“QA/QC”) and Grade Interval Reporting

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 Colin Smith, 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 portfolio of high‐quality exploration projects. ValOre’s team aims 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, process improvement, and innovation.

In May 2019, ValOre announced the acquisition of the Pedra Branca Platinum Group Elements (PGE) property, in Brazil, to bolster its existing Angilak uranium, Genesis/Hatchet uranium and Baffin gold projects in Canada.

The Pedra Branca PGE 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). All the currently known Pedra Branca inferred PGE resources are potentially open pittable.

Comprehensive exploration programs have demonstrated the "District Scale" potential of ValOre’s Angilak Property in Nunavut Territory, Canada that hosts the Lac 50 Trend having a current Inferred Resource of 2,831,000 tonnes grading 0.69% U3O8, totaling 43.3 million pounds U3O8. For disclosure related to the inferred resource for the Lac 50 Trend uranium deposits, please CLICK HERE for ValOre's news release dated March 1, 2013.

ValOre’s team has forged strong relationships with sophisticated resource sector investors and partner Nunavut Tunngavik Inc. (NTI) on both the Angilak and Baffin Gold Properties. ValOre was the first company to sign a comprehensive agreement to explore for uranium on Inuit Owned Lands in Nunavut Territory and is committed to building shareholder value while adhering to high levels of environmental and safety standards and proactive local community engagement.

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 604.653.9464, 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. ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today announced assay results from trenching at the Galante and Ipueiras targets (“Galante” and “Ipueiras”) at ValOre’s 100%-owned Pedra Branca Platinum Group Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil.

“The final trench at Galante, and two additional trenches at Ipueiras, returned significant intervals of surface PGE mineralization,” stated ValOre’s VP of Exploration, Colin Smith. “Trench assay results confirm the presence of in-situ PGEs, demonstrate potential continuity of target chromite-bearing ultramafic rocks, and warrant follow-up testing in future drill programs.”

Trenching Highlights:

  • 90 metres (“m”) grading 0.55 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”), including 17 m grading 1.17 g/t 2PGE+Au – Trench TR22GE07 at the Galante target;
  • 10 m grading 0.30 g/t 2PGE+Au – Trench TR22IP05 at the Ipueiras target;
  • 14 m grading 0.97 g/t 2PGE+Au, including 4 m grading 1.56 g/t 2PGE+Au – Trench TR22IP06 at the Ipueiras target.

Galante and Ipueiras 2022 Exploration Programs

The Galante PGE target is located 7 kilometres (“km”) south-southwest of Santo Amaro deposit (NI 43-101 inferred resource 153,000 oz 2PGE+Au grading 1.11 g/t in 4.3 Mt), and 10 km north-northeast of the Curiu deposit (NI 43-101 inferred resource 150,000 oz 2PGE+Au grading 2.20 g/t in 2.1 Mt), and covers a 3-km-long prospective geological corridor. The Ipueiras target is located 10 km south of the Trapia deposit area, (NI 43-101 inferred resource 885,000 oz 2PGE+Au grading 0.96 g/t in 28.8 Mt), and exhibits geological, geochemical, and geophysical signatures similar to that of the known PGE deposits.

ValOre completed an extensive exploration program in both target areas in 2022, including reconnaissance mapping, soil sampling, Trado® auger drilling and trenching (CLICK HERE for news release dated August 3, 2022, on initial trench assay results at Galante, and CLICK HERE for news release dated July 11, 2022 on phase 2 Trado® program at Ipueiras).

The final trench assay results reported herein, including the final trench at Galante (TR22GE07) and final two trenches at the Southwest Zone at Ipueiras (TR22IP05 and TR22IP06) confirm the presence of in-situ PGE mineralization, demonstrate potential continuity of chromite-bearing ultramafic rocks in both targets, and warrant follow-up testing in future drill programs.

Please see Figure 1 and Figure 2 below for detailed plan maps of the Galante and Ipueiras PGE targets and Table 1 for a summary of trench assay results reported for both target areas.

Table 1: Trenching Assay Highlights for Galante East and Ipueiras PGE Targets.

Target Trench ID From (m) To (m) Length (m) 2PGE+Au (g/t) Summary Interval News release
Ipueiras TR22IP01 2.00 66.00 64.00 2.88 64 m grading 2.88 g/t 2PGE+Au
incl. 46 m grading 3.52 g/t 2PG+Au
and 25 m grading 4.65 g/t 2PGE+Au		 April 5, 2022
14.00 60.00 46.00 3.52
35.00 60.00 25.00 4.65
Ipueiras TR22IP02 14.00 52.00 38.00 2.14 38 m grading 2.14 g/t 2PGE+Au
incl. 15 m grading 4.45 g/t 2PGE+Au
26.00 41.00 15.00 4.45
Ipueiras TR22IP03 0.00 2.00 2.00 0.37 2 m grading 0.37 g/t 2PGE+Au
Ipueiras TR22IP04 14.00 34.00 20.00 0.24 20 m grading 0.24 g/t 2PGE+Au
Ipueiras TR22IP05 7.00 17.00 10.00 0.30 10 m grading 0.30 g/t 2PGE+Au This release
Ipueiras TR22IP06 5.00 19.00 14.00 0.97 14 m grading 0.97 g/t 2PGE+Au
incl. 4 m grading 1.56 g/t 2PGE+Au
10.00 14.00 4.00 1.56
Galante East TR22GE01 32.00 85.00 53.00 0.59 53 m grading 0.59 g/t 2PGE+Au
incl. 6 m grading 1.07 g/t 2PGE+Au
and 3 m grading 1.44 g/t 2PGE+Au		 August 3, 2022
43.00 49.00 6.00 1.07
65.00 68.00 3.00 1.44
Galante East TR22GE02 20.00 51.00 31.00 0.83 31 m grading 0.83 g/t 2PGE+Au
incl. 16 m grading 1.39 g/t 2PGE+Au
and 4 m grading 3.86 g/t 2PGE+Au
25.00 41.00 16.00 1.39
37.00 41.00 4.00 3.86
Galante East TR22GE03 48.00 59.00 11.00 0.38 11 m grading 0.38 g/t 2PGE+Au
Galante East TR22GE04 13.00 15.00 2.00 0.35 2 m grading 0.35 g/t 2PGE+Au
and 5 m grading 0.26 g/t 2PGE+Au
26.00 31.00 5.00 0.26
Galante East TR22GE05 15.00 34.00 19.00 0.54 19 m grading 0.54 g/t 2PGE+Au
incl. 2 m grading 1.40 g/t 2PGE+Au
21.00 23.00 2.00 1.40
Galante East TR22GE06 3.00 22.00 19.00 0.31 19 m grading 0.31 g/t 2PGE+Au
and 2 m grading 0.25 g/t 2PGE+Au
36.00 38.00 2.00 0.25
Galante East TR22GE07 0.00 90.00 90.00 0.55 90 m grading 0.55 g/t 2PGE+Au
incl. 17 m grading 1.17 g/t 2PGE+Au		 This release
60.00 77.00 17.00 1.17

*Reported trench assay interval lengths are channel samples and estimated to represent 50-60% true width at TR22GE07, and 80-90% at TR22IP05 and TR22IP06.

Figure 1

Figure 1: Plan map of Galante PGE target, showing locations of the 7 trenches excavated along the main PGE-mineralized zones, over 2.5 km of trend.

Figure 2

Figure 2: Plan map of Ipueiras target, showing locations of the main PGE-mineralized zones (Northeast and Southwest), over a 2 km trend.

Figure 3

Figure 3: Detailed plan map of the Southwest Zone at Ipueiras target, showing locations of the two trenches excavated in the area (TR22IP05 and TR22IP06).

About the Trado® Auger and Trenching methodology

CLICK HERE for more information regarding Trado® Auger and Trenching methodology

Quality Control/Quality Assurance (“QA/QC”) and Grade Interval Reporting

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 Colin Smith, 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 portfolio of high‐quality exploration projects. ValOre’s team aims 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, process improvement, and innovation.

In May 2019, ValOre announced the acquisition of the Pedra Branca Platinum Group Elements (PGE) property, in Brazil, to bolster its existing Angilak uranium, Genesis/Hatchet uranium and Baffin gold projects in Canada.

The Pedra Branca PGE 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). All the currently known Pedra Branca inferred PGE resources are potentially open pittable.

Comprehensive exploration programs have demonstrated the "District Scale" potential of ValOre’s Angilak Property in Nunavut Territory, Canada that hosts the Lac 50 Trend having a current Inferred Resource of 2,831,000 tonnes grading 0.69% U3O8, totaling 43.3 million pounds U3O8. For disclosure related to the inferred resource for the Lac 50 Trend uranium deposits, please CLICK HERE for ValOre's news release dated March 1, 2013.

ValOre’s team has forged strong relationships with sophisticated resource sector investors and partner Nunavut Tunngavik Inc. (NTI) on both the Angilak and Baffin Gold Properties. ValOre was the first company to sign a comprehensive agreement to explore for uranium on Inuit Owned Lands in Nunavut Territory and is committed to building shareholder value while adhering to high levels of environmental and safety standards and proactive local community engagement.

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 604.653.9464, 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.

ValOre Reports Initial Trench Results at Galante East Target, Pedra Branca, including 53 m grading 0.59 g/t 2PGE+Au, 31 m grading 0.83 g/t 2PGE+Au and 4 m grading 3.86 g/t 2PGE+Au

Vancouver, B.C. ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today announced initial trench assay results from the Galante East target (“Galante East”) at ValOre’s 100%-owned Pedra Branca Platinum Group Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil.

“ValOre’s exploration team continues to successfully utilize Trado® auger drilling and trenching to identify near surface palladium-platinum mineralization at multiple targets property wide,” stated ValOre’s VP of Exploration, Colin Smith. “The trench results at Galante East confirm the presence of in-situ PGE mineralization, demonstrate potential continuity of target chromite-bearing ultramafic rocks over 2.5 km of trend, and warrant follow-up testing in future drill programs.”

Galante East Trenching Highlights:

Assays have been received for 6 of 7 trenches, with all 6 trenches returning PGE mineralization, including:

  • 53 metres (“m”) grading 0.59 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”), including 6 m grading 1.07 g/t 2PGE+Au and 3 m grading 1.44 g/t 2PGE+Au in trench TR22GE01;
  • 31 m grading 0.83 g/t 2PGE+Au, including 16 m grading 1.39 g/t 2PGE+Au and 4 m grading 3.86 g/t 2PGE+Au in trench TR22GE02;
  • 19 m grading 0.54 g/t 2PGE+Au including 2 m grading 1.40 g/t 2PGE+Au in TR22GE05.

Assays are pending for the southernmost trench, TR22GE07, which intercepted 90 m of ultramafic and ultramafic-derived rocks ("UM” and “UM-derived”).

Galante East 2022 Exploration Program

The Galante East target is a 3-km-long prospective geological corridor located 7 km south-southwest of Santo Amaro (153,000 oz 2PGE+Au grading 1.11 g/t in 4.3 Mt), and 10 km north-northeast of Curiu (150,000 oz 2PGE+Au grading 2.20 g/t in 2.1 Mt).

Previously reported reconnaissance mapping and prospecting, soil sampling and Trado® auger programs served to corroborate and refine the historically mapped target UM intrusions and associated PGE mineralization, and supported the completion of a 2022 trenching program to further advance this undrilled 3-km-long trend. (CLICK HERE for news release dated May 2, 2022 and CLICK HERE for news release dated June 23, 2022). See Figure 1 below for a plan map of Galante East.

Detailed mapping and sampling were performed at seven trenches excavated at the Galante East target (471 metres in total length), with target UM intrusions intercepted in all 7 trenches, and initial PGE assays reported in this release for 6 of 7 trenches (TR22GE01 to TR22GE06). Assays are pending for trench TR22GE07. See Table 1 below for a summary of trench assays received to date, Figure 2 for photographs, and Figures 3a-3b for cross sections of trenches TR22GE01 and TR22GE02.

Table 1: Trench assays reported to date for Galante East Target.

Trench ID From
(m)		 To
(m)		 *Length
(m)		 2PGE+Au
(g/t)		 Summary Interval
TR22GE01 32.00 85.00 53.00 0.59 53 m grading 0.59 g/t 2PGE+Au
incl. 6 m grading 1.07 g/t 2PGE+Au
and 3 m grading 1.44 g/t 2PGE+Au
43.00 49.00 6.00 1.07
65.00 68.00 3.00 1.44
TR22GE02 20.00 51.00 31.00 0.83 31 m grading 0.83 g/t 2PGE+Au
incl. 16 m grading 1.39 g/t 2PGE+Au
and 4 m grading 3.86 g/t 2PGE+Au
25.00 41.00 16.00 1.39
37.00 41.00 4.00 3.86
TR22GE03 48.00 59.00 11.00 0.38 11 m grading 0.38 g/t 2PGE+Au
TR22GE04 13.00 15.00 2.00 0.35 2 m grading 0.35 g/t 2PGE+Au
and 5 m grading 0.26 g/t 2PGE+Au
26.00 31.00 5.00 0.26
TR22GE05 15.00 34.00 19.00 0.54 19 m grading 0.54 g/t 2PGE+Au
incl. 2 m grading 1.40 g/t 2PGE+Au
21.00 23.00 2.00 1.40
TR22GE06 3.00 22.00 19.00 0.31 19 m grading 0.31 g/t 2PGE+Au
and 2 m grading 0.25 g/t 2PGE+Au
36.00 38.00 2.00 0.25

*Reported trench assay interval lengths are channel samples and estimated to represent 70-80% true width


Figure 1: Plan map of Galante East, highlighting 2022 trenches along the main mineralized trends.


Figure 2: Photographs from trenching at Galante East (A and B), and a chromite-rich peridotite sample (C) collected at trench TR22GE01 from an interval assaying 1.07 g/t 2PGE+Au over 6 m.


Figure 3a: Trench TR22GE01 cross section, Galante East, highlighting geology, assays, and proximal Trado® auger drilling.


Figure 3b: Trench TR22GE02 cross section, Galante East, highlighting geology and assays.

About the Trado® Auger and Trenching methodology

CLICK HERE for more information regarding Trado® Auger and Trenching methodology

Quality Control/Quality Assurance (“QA/QC”) and Grade Interval Reporting

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 Colin Smith, 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 portfolio of high‐quality exploration projects. ValOre’s team aims 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, process improvement, and innovation.

In May 2019, ValOre announced the acquisition of the Pedra Branca Platinum Group Elements (PGE) property, in Brazil, to bolster its existing Angilak uranium, Genesis/Hatchet uranium and Baffin gold projects in Canada.

The Pedra Branca PGE 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). All the currently known Pedra Branca inferred PGE resources are potentially open pittable.

Comprehensive exploration programs have demonstrated the "District Scale" potential of ValOre’s Angilak Property in Nunavut Territory, Canada that hosts the Lac 50 Trend having a current Inferred Resource of 2,831,000 tonnes grading 0.69% U3O8, totaling 43.3 million pounds U3O8. For disclosure related to the inferred resource for the Lac 50 Trend uranium deposits, please CLICK HERE for ValOre's news release dated March 1, 2013.

ValOre’s team has forged strong relationships with sophisticated resource sector investors and partner Nunavut Tunngavik Inc. (NTI) on both the Angilak and Baffin Gold Properties. ValOre was the first company to sign a comprehensive agreement to explore for uranium on Inuit Owned Lands in Nunavut Territory and is committed to building shareholder value while adhering to high levels of environmental and safety standards and proactive local community engagement.

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 604.653.9464, 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.

ValOre’s Second Core Rig Commences Drilling, with First Drill Intercepting Multiple Zones of Shallow Radioactivity at Dipole Uranium Target, Angilak Property

Vancouver, B.C. ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today provided an update on the 4,500 metre (“m”) core program at ValOre’s 100% owned 59,483-hectare Angilak Property Uranium Project (“Angilak”), located in Nunavut Territory, Canada.

“Two diamond drill rigs are now drilling at Dipole as part of a 4,500-metre program to test the Dipole and J4 West uranium targets,” stated ValOre’s VP of Exploration, Colin Smith. “The first rig has intercepted multiple shallow zones of strong radioactivity, including 12,000 CPS at 56 m vertical depth, and 9,361 CPS at 98 m vertical depth in drill hole 22-DP-002.”

Highlights of First Two 2022 Core Holes:

  • Drill hole 22-DP-001: intersected a near-surface zone of radioactivity (4,000 counts per second (“CPS”) from 49.82 to 50.20 m) but was subsequently lost at 78 m hole depth. The hole terminated above the anticipated depth of the lower zone;
  • Drill hole 22-DP-002: drilled to target depth of 178 m from the same pad (tilted to a -75° dip from a -70°), and intersected 6 zones of radioactivity, including highlights of:
    • 12,000 CPS from 57.80 to 58.11 m
    • 9,361 CPS from 102.20 to 102.41 m;
  • Zones of radioactivity correlate well with mineralized intercepts in the up-dip 2022 Reverse Circulation (“RC”) drill holes and are characterized by intensely hematized and brecciated graphitic tuffs, hosted within a broader package of foliated basalt.

*Reported core interval lengths are estimated to represent 70% true width

To review more information regarding the 2022 RC drill program, CLICK HERE for news release dated May 9, 2022, CLICK HERE for news release dated June 2, 2022, and CLICK HERE for news release dated June 15, 2022.

About Angilak

The 59,483-hectare Angilak Property is situated in the mining- and exploration-friendly Nunavut Territory, Canada, and has district-scale potential for uranium, precious and base metals. Since acquisition, ValOre has invested over CAD$55 million on resource delineation and exploration drilling (89,572 metres in 589 drill holes), metallurgy, geophysics, geochemistry, and logistics across the large land package. This work supported the development of the significant Lac 50 Trend NI 43-101 inferred uranium resource estimate (“Lac 50”).

The Lac 50 NI 43-101 Technical Report (effective date March 1, 2013) defined an inferred resource estimate which represents Canada’s highest-grade uranium resource outside of Saskatchewan, and one of highest-grade uranium resources on a global basis. Highlights include:

  • 43.3 Mlbs U3O8 in 2,831,000 tonnes grading 0.69% U3O8. CLICK HERE for a summary table of the Lac 50 Trend inferred resource estimate;
  • Supported by 351 resource delineation drill holes totaling 62,023 metres (“m”);
  • Metallurgical results for Lac 50 demonstrate high uranium recoveries and rapid leach kinetics. See news releases: February 28, 2013, September 11, 2013 and February 27, 2014;
  • Lac 50 Trend is a 15 kilometre (“km”) by 3 km area with excellent potential for resource growth and new discoveries;
  • Uranium mineralization starts at surface, and has been drilled to 380 m vertical depth;

CLICK HERE for ValOre’s May 6, 2021 video summarizing the highlights of Angilak.

CLICK HERE for ValOre’s May 6, 2021 video reviewing the 2021 focus for Angilak.

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 Colin Smith, P.Geo., ValOre’s QP and Vice President of Exploration.

Information related to the independent Angilak mineral resource estimate has been approved by Michael Dufresne, M.Sc. P.Geo., President of Apex Geoscience Ltd., Robert Sim, P.Geo. of SIM Geological Inc. and Bruce Davis, FAusIMM of BD Resources Consulting Inc., who are independent QPs as defined under NI 43‐101.

Information related to the independent Pedra Branca mineral resource estimate has been approved by Fábio Valério, P.Geo., and Porfirio Cabaleiro, P.Eng., of GE21.

About ValOre Metals Corp.

ValOre Metals Corp. (TSX‐V: VO) is a Canadian company with a portfolio of high‐quality exploration projects. ValOre’s team aims 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, process improvement, and innovation.

In May 2019, ValOre announced the acquisition of the Pedra Branca Platinum Group Elements (PGE) property, in Brazil, to bolster its existing Angilak uranium, Genesis/Hatchet uranium and Baffin gold projects in Canada.

The Pedra Branca PGE 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). All the currently known Pedra Branca inferred PGE resources are potentially open pittable.

Comprehensive exploration programs have demonstrated the "District Scale" potential of ValOre’s Angilak Property in Nunavut Territory, Canada that hosts the Lac 50 Trend having a current Inferred Resource of 2,831,000 tonnes grading 0.69% U3O8, totaling 43.3 million pounds U3O8. For disclosure related to the inferred resource for the Lac 50 Trend uranium deposits, please CLICK HERE for ValOre's news release dated March 1, 2013.

ValOre’s team has forged strong relationships with sophisticated resource sector investors and partner Nunavut Tunngavik Inc. (NTI) on both the Angilak and Baffin Gold Properties. ValOre was the first company to sign a comprehensive agreement to explore for uranium on Inuit Owned Lands in Nunavut Territory and is committed to building shareholder value while adhering to high levels of environmental and safety standards and proactive local community engagement.

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 604.653.9464, 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. ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today announced the commencement of a 4,500 metre (“m”) diamond drill program at ValOre’s 100% owned 59,483-hectare Angilak Property Uranium Project (“Angilak”), located in Nunavut Territory, Canada.

“2022 RC drilling at the Dipole and J4 West targets intersected high-grade, near-surface, basement-hosted uranium, and immediate follow-up is warranted in the core drilling program,” stated ValOre’s VP of Exploration, Colin Smith. “Two diamond drill rigs are at Dipole, with the first rig already drilling, and the second to commence within the week. Down-dip and along-strike core holes will test extensions to highly radioactive RC intercepts, including 65,535 CPS at ~30 m vertical depth (Dipole) and 22,146 CPS at ~36 m vertical depth (J4 West)”.

Angilak 2022 Diamond Drill Program Highlights:

  • 4,500 m core drilling program to be conducted with 2 diamond drill rigs;
  • Dipole target – 3,000 m planned in 16 holes;
  • J4 West target – 1,500 m planned in 14 holes;
  • Program goal is to incorporate drill results into future resource estimates.

The 2022 Reverse Circulation (“RC”) drill program intersected near-surface radioactivity in 22 of 27 holes, with vertical depths of radioactive zones ranging from 7 to 110 metres, at the Dipole, Yat, and J4 West targets. Initial assay results from the completed RC drill program are expected in the first half of August, 2022.

For more information regarding the 2022 RC drill program, CLICK HERE for news release dated May 9, 2022, CLICK HERE for news release dated June 2, 2022, and CLICK HERE for news release dated June 15, 2022.

About Angilak

The 59,483-hectare Angilak Property is situated in the mining- and exploration-friendly Nunavut Territory, Canada, and has district-scale potential for uranium, precious and base metals. Since acquisition, ValOre has invested over CAD$55 million on resource delineation and exploration drilling (89,572 metres in 589 drill holes), metallurgy, geophysics, geochemistry, and logistics across the large land package. This work supported the development of the significant Lac 50 Trend NI 43-101 inferred uranium resource estimate (“Lac 50”).

The Lac 50 NI 43-101 Technical Report (effective date March 1, 2013) defined an inferred resource estimate which represents Canada’s highest-grade uranium resource outside of Saskatchewan, and one of highest-grade uranium resources on a global basis. Highlights include:

  • 43.3 Mlbs U3O8 in 2,831,000 tonnes grading 0.69% U3O8. CLICK HERE for a summary table of the Lac 50 Trend inferred resource estimate;
  • Supported by 351 resource delineation drill holes totaling 62,023 metres (“m”);
  • Metallurgical results for Lac 50 demonstrate high uranium recoveries and rapid leach kinetics. See news releases: February 28, 2013, September 11, 2013 and February 27, 2014;
  • Lac 50 Trend is a 15 kilometre (“km”) by 3 km area with excellent potential for resource growth and new discoveries;
  • Uranium mineralization starts at surface, and has been drilled to 380 m vertical depth;

CLICK HERE for ValOre’s May 6, 2021 video summarizing the highlights of Angilak.

CLICK HERE for ValOre’s May 6, 2021 video reviewing the 2021 focus for Angilak.

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 Colin Smith, P.Geo., ValOre’s QP and Vice President of Exploration.

Information related to the independent Angilak mineral resource estimate has been approved by Michael Dufresne, M.Sc. P.Geo., President of Apex Geoscience Ltd., Robert Sim, P.Geo. of SIM Geological Inc. and Bruce Davis, FAusIMM of BD Resources Consulting Inc., who are independent QPs as defined under NI 43‐101.

Information related to the independent Pedra Branca mineral resource estimate has been approved by Fábio Valério, P.Geo., and Porfirio Cabaleiro, P.Eng., of GE21.

About ValOre Metals Corp.

ValOre Metals Corp. (TSX‐V: VO) is a Canadian company with a portfolio of high‐quality exploration projects. ValOre’s team aims 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, process improvement, and innovation.

In May 2019, ValOre announced the acquisition of the Pedra Branca Platinum Group Elements (PGE) property, in Brazil, to bolster its existing Angilak uranium, Genesis/Hatchet uranium and Baffin gold projects in Canada.

The Pedra Branca PGE 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). All the currently known Pedra Branca inferred PGE resources are potentially open pittable.

Comprehensive exploration programs have demonstrated the "District Scale" potential of ValOre’s Angilak Property in Nunavut Territory, Canada that hosts the Lac 50 Trend having a current Inferred Resource of 2,831,000 tonnes grading 0.69% U3O8, totaling 43.3 million pounds U3O8. For disclosure related to the inferred resource for the Lac 50 Trend uranium deposits, please CLICK HERE for ValOre's news release dated March 1, 2013.

ValOre’s team has forged strong relationships with sophisticated resource sector investors and partner Nunavut Tunngavik Inc. (NTI) on both the Angilak and Baffin Gold Properties. ValOre was the first company to sign a comprehensive agreement to explore for uranium on Inuit Owned Lands in Nunavut Territory and is committed to building shareholder value while adhering to high levels of environmental and safety standards and proactive local community engagement.

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 604.653.9464, 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. ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today announced multiple high-grade PGE assay results from the follow-up Trado® auger program at the Ipueiras target (“Ipueiras”) at ValOre’s 100%-owned Pedra Branca Platinum Group Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil.

“Phase 2 Trado® results from Ipueiras confirm the presence of in-situ, high-grade, at-surface palladium-platinum mineralization at the undrilled Southwest Zone,” stated ValOre’s V.P. of Exploration, Colin Smith. “Follow-up trenching has commenced to further delineate the PGE-bearing intrusion prior to core or RC drilling.”

Ipueiras Trado® Auger Drilling Highlights:

Follow-up Trado® auger drilling at Ipueiras returned multiple high-grade PGE intervals, including:

  • 8 metres (“m”) grading 2.05 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”) from 1 m, including 3 m grading 4.70 g/t 2PGE+Au from 6 m, in Trado® auger hole TR22IP58;
  • 6 m grading 3.60 g/t 2PGE+Au from 2 m, including 4 m grading 5.00 g/t 2PGE+Au from 4 m, in Trado® auger hole TR22IP59;
  • 7.5 m grading 1.34 g/t 2PGE+Au from surface, in Trado® auger hole TR22IP41;
  • 5.5 m grading 1.69 g/t 2PGE+Au from 1 m, including 1 m grading 4.73 g/t 2PGE+Au from 2 m, in Trado® auger hole TR22IP39;
  • 2.5 m grading 1.78 g/t 2PGE+Au from surface, including 1 m grading 3.48 g/t 2PGE+Au from 1 m in Trado® auger hole TR22IP55;
  • 1.5 m grading 1.35 g/t 2PGE+Au from surface, in Trado® auger hole TR22IP61A;

Trado® end of hole (“EOH”) depths typically represent that the auger has entered impenetrable unweathered bedrock, so mineralization and ultra-mafic rocks (“UM”) present at EOH remain open at depth and require follow-up core or RC drilling.

Ipueiras Target Exploration Program

The second phase of Trado® auger drilling at Ipueiras was designed to follow-up on PGE high-grade mineralization reported from previous Trado® holes and trenches of the Northeast and Southwest Zones, within the 2-km-long anomalous trend of Ipueiras Target (located 10 km south of the Trapia deposit area – 885,000 oz 2PGE+Au grading 0.96 g/t in 28.8 Mt).

32 follow up Trado® auger holes were drilled, totaling 107 m. Target UM rocks were encountered in 19 Trado® holes (68 m of the 107 m augered) with reported PGE mineralization 17 of 32 holes. See Table 1 below for a summary of significant Trado® assay results from the second phase of the Trado® program at Ipueiras.

Table 1: Follow up Trado® Auger Drilling Highlights for Ipueiras Target

Hole ID From (m) To (m) Length (m) 2PGE+Au (g/t) 2PGE+Au Interval Summary
AD22IP37 0.00 2.00 2.00 0.14 2 m grading 0.14 g/t 2PGE+Au from surface
AD22IP39 1.00 6.50 5.50 1.69 5.5 m grading 1.69 g/t 2PGE+Au from 1 m
incl. 1 m grading 4.73 g/t 2PGE+Au from 2 m
2.00 3.00 1.00 4.73
AD22IP41 0.00 7.50 7.50 1.34 7.5 m grading 1.34 g/t 2PGE+Au from surface
AD22IP42 0.00 6.00 6.00 0.28 6 m grading 0.28 g/t 2PGE+Au from surface
AD22IP43 0.00 8.50 8.50 0.23 8.5 m grading 0.23 g/t 2PGE+Au from surface
AD22IP46 0.00 2.00 2.00 0.13 2 m grading 0.13 g/t 2PGE+Au from surface
AD22IP47 0.00 1.00 1.00 0.14 1 m grading 0.14 g/t 2PGE+Au from surface
AD22IP49 0.00 1.00 1.00 0.15 1 m grading 0.15 g/t 2PGE+Au from surface
AD22IP51 0.00 2.00 2.00 0.25 2 m grading 0.25 g/t 2PGE+Au from surface
AD22IP54 0.00 1.00 1.00 0.10 1 m grading 0.10 g/t 2PGE+Au from surface
AD22IP55 0.00 2.50 2.50 1.78 2.5 m grading 1.78 g/t 2PGE+Au from surface
incl. 1 m grading 3.48 g/t 2PGE+Au from 1 m
1.00 2.00 1.00 3.48
AD22IP57 1.00 2.00 1.00 0.45 1 m grading 0.45 g/t 2PGE+Au from 1 m
AD22IP58 1.00 9.00 8.00 2.05 8 m grading 2.05 g/t 2PGE+Au from 1 m
incl. 3 m grading 4.70 g/t 2PGE+Au from 6 m
6.00 9.00 3.00 4.70
AD22IP59 2.00 8.00 6.00 3.60 6 m grading 3.60 g/t 2PGE+Au from 2 m
incl. 4 m grading 5.00 g/t 2PGE+Au from 4 m
4.00 8.00 4.00 5.00
AD22IP61 0.00 2.00 2.00 0.48 2 m grading 0.48 g/t 2PGE+Au from surface
AD22IP61A 0.00 1.50 1.50 1.35 1.5 m grading 1.35 g/t 2PGE+Au from surface
AD22IP63 0.00 4.00 4.00 0.26 4 m grading 0.26 g/t 2PGE+Au from surface

A total of 67 Trado® auger holes have been drilled in 2022 at the Northeast and Southwest Zones of Ipueiras, totaling 212 m, including 129.5 m of target UMs and PGE mineralization reported in 37 of 67 holes.

ValOre’s exploration program at Ipueiras commenced with detailed geological mapping and prospecting throughout the 2-km-long anomalous trend, followed up with a first phase of Trado® auger drilling (105 m), with reported PGE mineralization in 11 of 35 holes (CLICK HERE for news release dated March 31, 2022).

PGE-mineralized Trado® auger holes defined an area of focus within the Northeast Zone for priority follow-up work which was subsequently tested for in-situ PGE mineralization by the excavation of 4 trenches totaling 189 m, covering a strike length of approximately 200 m. All 4 trenches confirmed continuity of PGE-bearing UM and UM-derived rocks along strike (CLICK HERE for news release dated April 5, 2022), with two of four trenches returning significant intervals of PGE mineralization, including:

  • 64 metres (“m”) grading 2.68 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”), including 25 m grading 4.65 g/t 2PGE+Au in trench TR22IP01;
  • 38 m grading 2.14 g/t 2PGE+Au, including 15 m grading 4.45 g/t 2PGE+Au in trench TR22IP02.

At the Southwest Zone, highlights of historic and ValOre high-grade rock samples collected throughout the area include grades of over 40 g/t 2PGE+Au, correlative with the high-grade UMs and chromitite reefs exposed in trenches TR22IP01 and TR22IP02 at the Northeast Zone, which confirm extension of known PGE mineralization and exploration upside for an additional 2 km to the southwest of the existing historical core drilling and trenching area. See Figure 1 below for a plan map of the Ipueiras target and Figures 2 and 3 for detailed plan maps of the Northeast and Southwest Zones.

Follow-up trenching has commenced at the SW Zone to further delineate in-situ PGE mineralization at the southwestern extension of the 2-km-long PGE mineralized trend.

Figure 1: Ipueiras target ground mag anomaly extending for approximately 2 km along strike from southwest to the northeast.

Figure 1: Ipueiras target ground mag anomaly extending for approximately 2 km along strike from southwest to the northeast.

Figure 2: Plan map of the NE Zone at Ipueiras, showing previously reported assays and new Trado® auger highlights.

Figure 2: Plan map of the NE Zone at Ipueiras, showing previously reported assays and new Trado® auger highlights.

Figure 3: Plan map of the SW Zone at Ipueiras, showing new Trado® auger highlights and planned trench locations.

Figure 3: Plan map of the SW Zone at Ipueiras, showing new Trado® auger highlights and planned trench locations.

Figure 4: PGE high-grade “chip” archive samples from Trado® holes TR22IP58 and TR22IP59, which returned 8 m grading 2.05 g/t 2PGE+Au from 1 m, incl. 3 m grading 4.70 g/t 2PGE+Au from 6 m, and 6 m grading 3.60 g/t 2PGE+Au from 2 m, incl. 4 m grading 5.00 g/t 2PGE+Au from 4 m, respectively. Individual chip trays are 50 x 25 mm.

Figure 4: PGE high-grade “chip” archive samples from Trado® holes TR22IP58 and TR22IP59, which returned 8 m grading 2.05 g/t 2PGE+Au from 1 m, incl. 3 m grading 4.70 g/t 2PGE+Au from 6 m, and 6 m grading 3.60 g/t 2PGE+Au from 2 m, incl. 4 m grading 5.00 g/t 2PGE+Au from 4 m, respectively. Individual chip trays are 50 x 25 mm.

Figure 5: Photograph from a massive chromitite “core” augered from 1 to 1.2 m depth at AD22IP61A in the SW Zone of Ipueiras Target. Sample returned 2.58 g/t 2PGE+Au over 0.50 m.

Figure 5: Photograph from a massive chromitite “core” augered from 1 to 1.2 m depth at AD22IP61A in the SW Zone of Ipueiras Target. Sample returned 2.58 g/t 2PGE+Au over 0.50 m.

About the Trado® Auger and Trenching methodology

CLICK HERE for more information regarding Trado® Auger and Trenching methodology

Quality Control/Quality Assurance (“QA/QC”) and Grade Interval Reporting

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 Colin Smith, 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 portfolio of high‐quality exploration projects. ValOre’s team aims 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, process improvement, and innovation.

In May 2019, ValOre announced the acquisition of the Pedra Branca Platinum Group Elements (PGE) property, in Brazil, to bolster its existing Angilak uranium, Genesis/Hatchet uranium and Baffin gold projects in Canada.

The Pedra Branca PGE 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). All the currently known Pedra Branca inferred PGE resources are potentially open pittable.

Comprehensive exploration programs have demonstrated the "District Scale" potential of ValOre’s Angilak Property in Nunavut Territory, Canada that hosts the Lac 50 Trend having a current Inferred Resource of 2,831,000 tonnes grading 0.69% U3O8, totaling 43.3 million pounds U3O8. For disclosure related to the inferred resource for the Lac 50 Trend uranium deposits, please CLICK HERE for ValOre's news release dated March 1, 2013.

ValOre’s team has forged strong relationships with sophisticated resource sector investors and partner Nunavut Tunngavik Inc. (NTI) on both the Angilak and Baffin Gold Properties. ValOre was the first company to sign a comprehensive agreement to explore for uranium on Inuit Owned Lands in Nunavut Territory and is committed to building shareholder value while adhering to high levels of environmental and safety standards and proactive local community engagement.

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 604.653.9464, 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. ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today announced trench channel sample assay results from the Tróia target (“Tróia”) at ValOre’s 100%-owned Pedra Branca Platinum Group Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil.

“Our geological team continues to deliver at the Pedra Branca palladium-platinum project. Tróia joins Ipueiras and Galante East in our pipeline of drill-ready targets,” stated ValOre’s V.P. of Exploration, Colin Smith. “The trench results at the Tróia target confirm the presence of in-situ PGE mineralization intercepted in previously reported Trado® auger drilling and rock sampling and demonstrate potential continuity of the target chromite-bearing ultramafic rocks over 600 m along trend. Mineralization and the target ultramafic intrusion remain fully open at depth and warrant follow-up core or RC drilling.”

Tróia Trenching Highlights:

Six of seven trenches returned significant intervals of PGE mineralization at surface, including:

  • 42 metres (“m”) grading 0.87 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”), including 10 m grading 1.72 g/t 2PGE+Au in trench TR22TR04;
  • 28 m grading 0.91 g/t 2PGE+Au, including 12 m grading 1.73 g/t 2PGE+Au in trench TR22TR01;
  • 26 m grading 0.82 g/t 2PGE+Au in trench TR22TR02;
  • 16 m grading 1.30 g/t 2PGE+Au in trench TR22CC01.

Tróia Target Exploration Program

ValOre conducted detailed geological mapping and prospecting along the 1-km-long anomalous trend at Tróia, a target located 4.5 km north-northeast of Massapê (129,000 oz 2PGE+Au grading 1.21 g/t in 3.31 Mt) and 8 km north of Trapia (885,000 oz 2PGE+Au grading 0.96 g/t in 27.8 Mt). The trend was subsequently followed up with 72 Trado® auger holes totaling 206 m, with ultramafics (“UM”) encountered in 19 Trado® holes.

PGE assays previously reported from Trado® auger drilling and rock sampling, which included 23.01 g/t 2PGE+Au and 12.00 g/t 2PGE+Au (CLICK HERE for news release dated April 25, 2022), warranted follow-up trenching along 600 m of geological trend to confirm the presence of in-situ PGE mineralization. Seven trenches were excavated (400 m total length), with all exposing UM and UM-derived rock continuity along strike, including chromite-rich UMs of significant thickness in the central trenches, TR22TR01 to TR22TR04, and in the northern trench, TR22CC01. See Figure 1 below for a detailed plan map of the Tróia target, Figure 2 for photographs of the Tróia trenching program, and Figures 3a-3b for cross sections (trenches TR22TR02 and TR22CC01).

Trench mapping and assays indicate a strong potential for continuity between the northern trench (TR22CC01) and the main zone (trenches TR22TR01 to TR22TR006), despite the lack of surface exposure in between. Detailed follow-up mapping and prospecting has commenced to further investigate this gap zone.

Table 1: Trenching Highlights for Tróia Target

Trench ID From
(m)		 To
(m)		 Length
(m)		 2PGE+Au
(g/t)		 Interval Summary*
TR22TR01 15 43 28 0.91 28 m grading 0.91 g/t 2PGE+Au
incl. 12 m grading 1.73 g/t 2PGE+Au
16 28 12 1.73
TR22TR02 19 45 26 0.82 26 m grading 0.82 g/t 2PGE+Au
TR22TR03 10 27 17 0.61 17 m grading 0.61 g/t 2PGE+Au
incl. 4 m grading 1.06 g/t 2PGE+Au
16 20 4 1.06
TR22TR04 0 42 42 0.87 42 m grading 0.87 g/t 2PGE+Au
incl. 10 m grading 1.72 g/t 2PGE+Au
8 18 10 1.72
TR22TR05 5 16 11 0.20 11 m grading 0.20 g/t 2PGE+Au
incl. 4 m grading 0.32 g/t 2PGE+Au
10 14 4 0.32
TR22CC01 27 43 16 1.30 16 m grading 1.30 g/t 2PGE+Au

*Reported trench assay interval lengths are channel samples and estimated to represent 75-85% true width.


Figure 1: Tróia Target Plan Map, highlighting trench locations and assays.


Figure 2: Photographs from trenching at the Tróia Target, highlighting chromitite reef horizons and chromite-rich ultramafics.


Figure 3a: Trench TR22TR02 cross section, Tróia Target, highlighting geology, assays, and proximal Trado® auger drilling.


Figure 3b: Trench TR22CC01 cross section, Tróia Target, highlighting geology, assays, and proximal Trado® auger drilling.

About the Trado® Auger and Trenching methodology

CLICK HERE for more information regarding Trado® Auger and Trenching methodology

Quality Control/Quality Assurance (“QA/QC”) and Grade Interval Reporting

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 Colin Smith, 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 portfolio of high‐quality exploration projects. ValOre’s team aims 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, process improvement, and innovation.

In May 2019, ValOre announced the acquisition of the Pedra Branca Platinum Group Elements (PGE) property, in Brazil, to bolster its existing Angilak uranium, Genesis/Hatchet uranium and Baffin gold projects in Canada.

The Pedra Branca PGE 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). All the currently known Pedra Branca inferred PGE resources are potentially open pittable.

Comprehensive exploration programs have demonstrated the "District Scale" potential of ValOre’s Angilak Property in Nunavut Territory, Canada that hosts the Lac 50 Trend having a current Inferred Resource of 2,831,000 tonnes grading 0.69% U3O8, totaling 43.3 million pounds U3O8. For disclosure related to the inferred resource for the Lac 50 Trend uranium deposits, please CLICK HERE for ValOre's news release dated March 1, 2013.

ValOre’s team has forged strong relationships with sophisticated resource sector investors and partner Nunavut Tunngavik Inc. (NTI) on both the Angilak and Baffin Gold Properties. ValOre was the first company to sign a comprehensive agreement to explore for uranium on Inuit Owned Lands in Nunavut Territory and is committed to building shareholder value while adhering to high levels of environmental and safety standards and proactive local community engagement.

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 604.653.9464, 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.