Vancouver, B.C. ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today provided an update from ValOre’s 100%-owned Pedra Branca Platinum Group Element (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil, where exploration employing the Trado^® auger has identified multiple zones of near surface mineralization.

“While commonly used throughout Brazil, ValOre was the first company to use the Trado^® auger for exploration at Pedra Branca. This cost-effective and highly portable tool led us to multiple subsequent drilling discoveries and played an important preliminary role in the successful resource expansion drilling in 2021,” stated ValOre’s VP of Exploration, Colin Smith. “The Trado^® collects metre-by-metre samples of overburden for geochemical assay and drills into the tops of weathered bedrock, giving a real-time viewpoint into geology under cover. Given the continued success of the tool, ValOre has purchased a second auger unit to accelerate property-wide exploration.”

Trado^® Auger Exploration Highlights

235 auger holes totaling 818.3 metres (“m”) have tested 9 property-wide targets to date, intercepting 430.5 m of target ultramafic (“UM”) rocks under cover, with 863 samples submitted for assay;
Trado^®end of hole (“EOH”) depths typically represent that the auger has entered impenetrable unweathered to less weathered bedrock, so it is typical that mineralization and UMs remain fully open at depth and require follow-up core or Reverse Circulation (“RC”) drilling;
Auger assay highlights include:
- 16 m grading 1.22 g/t 2PGE+Au from surface (new result from Trapia South target)
- 12 m grading 1.73 g/t 2PGE+Au from surface (led to drilling discovery at Esbarro NW target)
- 9.0 m grading 2.09 g/t 2PGE+Au from surface (led to drilling discovery at Esbarro NW target)
- 10 m grading 1.64 g/t 2PGE+Au from surface (led to drilling discovery at Santo Amaro South target;
A second Trado^® auger has been purchased to be deployed in early February.

Trado^® Auger Exploration at Pedra Branca

The Trado^® auger has become a cornerstone exploration tool at Pedra Branca, serving to rapidly advance the district-wide target pipeline, and leading to multiple successful drill campaigns in 2021. Systematic Trado^® auger fences on 40-60 m hole spacings effectively demarcate target UM intrusions hidden under cover and test the presence of near-surface mineralization with subsequent assaying. Metre-by-metre geochemical samples of soil, regolith and weathered bedrock are collected down-hole, logged, and submitted for PGE and multi-element analyses. Consequently, the benefits of Trado^® are both real-time, with the geological mapping of bedrock under cover, and long-term, with the collection and analysis of a comprehensive geochemical assessment of the entire overburden profile, and in some cases into weathered bedrock. Furthermore, the Trado^® auger EOH depths represent the onset of impenetrable bedrock, so mineralization and UMs remain fully open at depth, to be followed up by core or RC drilling.

ValOre has completed 235 auger holes since February 2021, totaling 818.3 m, testing 9 property-wide targets. In total, 430.5 m of target UMs rocks have been augered under cover, with 863 samples submitted for assay. See Table 1 below for a summary of Trado^® auger exploration at Pedra Branca to date, and see Table 2 below for a summary of notable Trado^® auger holes >2 Gram*Meter on a target-to-target basis.

Proof of Concept with Follow-Up Drilling

Seven of the 9 targets Trado^®-tested to date were followed up with core and/or RC drilling in 2021, and all seven produced significant PGE intercepts. CLICK HERE to view news releases from 2021 and CLICK HERE to view news releases from 2022. The validity of the auger as an effective pre-RC or -core drilling tool was further proven by the reproducibility of PGE-in-Trado^® grades in drill core or RC chips. As an example, Trado^® hole AD21SAS12 from the Santo Amaro South target returned 10 m grading 1.64 g/t 2PGE+Au from surface. This result was followed up by RC drilling, which produced the discovery hole of 32 m grading 1.65 g/t 2PGE+Au from surface in drill hole RC21SAS03. CLICK HERE for news release dated August 23, 2021 and see Figure 1 below for a cross section.

Table 1: Summary of Trado^® Auger Drilling to Date (Feb 2021 – Jan 2022)

Target	Total Holes (#)	Total Drilled (m)	UMs Drilled (m)	Samples Assayed (#)
Santo Amaro South	46	173.6	76.7	177
Santo Amaro	27	69.1	40.6	77
Esbarro NW	19	64.7	47.9	69
Cana Brava	23	69.1	35.9	76
Trapia 2	5	9.1	5.0	10
Massapê	36	169.0	115.4	178
Pitombeiras	22	60.5	7.7	64
Trapia South	24	107.8	56.8	112
Ipueiras	33	95.4	44.5	100
Total	235	818.3	430.5	863

Table 2: Assay Table of Trado^® Auger Holes >2 Gram*Meter to Date (Feb 2021 – Jan 2022)

Target	Auger Hole	From (m)	To (m)	Length (m)	2PGE+Au (g/t)	2PGE+Au Interval Summary	Gram x Metre
Trapia South	AD21TS08	0	16	16	1.22	16 m grading 1.22 g/t 2PGE+Au from surface	19.5
Trapia South	AD21TS09	0	8	8	0.57	8 m grading 0.57 g/t 2PGE+Au from surface	4.6
Trapia South	AD21TS10	0	6.8	6.75	0.66	6.75 m grading 0.66 g/t 2PGE+Au from surface	4.5
Trapia South	AD21TS07	4	13	9	0.48	9 m grading 0.48 g/t 2PGE+Au from 4 m	4.3
Trapia South	AD21TS05	0	7	7	0.39	7 m grading 0.39 g/t 2PGE+Au from surface	2.7
Santo Amaro South	AD21SAS12	0	10	10	1.64	10 m grading 1.64 g/t 2PGE+Au from surface	16.4
Santo Amaro South	AD21SAS39	1	10	9	0.7	9 m grading 0.70 g/t 2PGE+Au from 1 m	6.3
Santo Amaro South	AD21SAS08	0	4	4	1.1	4 m grading 1.10 g/t 2PGE+Au from surface	4.4
Santo Amaro South	AD21SAS29	0	3	3	0.66	3 m grading 0.66 g/t 2PGE+Au from surface	2.0
Santo Amaro	AD21SA14	0	2.5	2.5	3.45	2.5 m grading 3.45 g/t 2PGE+Au from surface	8.6
Santo Amaro	AD21SA15	0	2.6	2.55	1.5	2.55 m grading 1.50 g/t 2PGE+Au from surface	3.8
Santo Amaro	AD21SA17	0	3	3	1.25	3 m grading 1.25 g/t 2PGE+Au from surface	3.8
Massapê	AD21MS14	0	11	11	0.34	11 m grading 0.34 g/t 2PGE+Au from surface	3.7
Massapê	AD21MS24	0	13	13	0.25	13 m grading 0.25 g/t 2PGE+Au from surface	3.3
Massapê	AD21MS19	0	3.5	3.5	0.87	3.5 m grading 0.87 g/t 2PGE+Au from surface	3.1
Massapê	AD21MS17	0	8	8	0.36	8 m grading 0.36 g/t 2PGE+Au from surface	2.9
Massapê	AD21MS20	0	4	4	0.59	4 m grading 0.59 g/t 2PGE+Au from surface	2.4
Massapê	AD21MS15	0	12	12	0.19	12 m grading 0.19 g/t 2PGE+Au from surface	2.3
Esbarro NW	AD21ES03	0	12	12	1.73	12 m grading 1.73 g/t 2PGE+Au from surface	20.8
Esbarro NW	AD21ES08	0	9	9	2.09	9 m grading 2.09 g/t 2PGE+Au from surface	18.8
Esbarro NW	AD21ES04A	0	4	4	1.12	4 m grading 1.12 g/t 2PGE+Au from surface	4.5
Esbarro NW	AD21ES02	0	5	5	0.63	5 m grading 0.63 g/t 2PGE+Au from surface	3.2
Esbarro NW	AD21ES17	0	4	4	0.68	4 m grading 0.68 g/t 2PGE+Au from surface	2.7

Figure 1: Cross Section A-A’, Santo Amaro South Target

About the Trado^® Auger

The Trado^® auger is a portable soil drilling device developed and manufactured in Brazil by Trado^® Equipamentos e Serviços Ltda, specially designed for mineral exploration, environmental monitoring, structural engineering, and installation of lightweight artesian wells. They are designed to drill up to 30 m in depth, have a collapsible structure (easily transportable), and offer extremely low cost of operation and maintenance. The Trado^®drills through vegetation cover, preserving a very low ecological footprint to the survey.

CLICK HERE for more information regarding Trado^®.

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, 5 distinct PGE+Au deposit areas host, in aggregate, a current Inferred Resource of 1,067,000 ounces 2PGE+Au contained in 27.2 million tonnes grading 1.22 g/t 2PGE+Au (CLICK HERE for ValOre’s July 23, 2019 news release). 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: 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 metallurgical testwork program at ValOre’s 100%-owned Pedra Branca Platinum Group Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil.

“Confirmatory drilling results from Cedro returned broad, well mineralized palladium-platinum intercepts from surface, and down-dip at depth,” stated ValOre’s VP of Exploration, Colin Smith. “ValOre’s team has commenced selecting a composite sample for Cedro, to be included in the on-going testwork program at ALS Metallurgy Kamloops. Preliminary results from testwork performed on the Cuiru deposit are expected next month.”

Key Points on Metallurgical Testwork Program:

Four HQ-size core drill holes totaling 332 metres (“m”) at the Cedro PGE deposit area were drilled, logged, sampled and assayed to support ongoing metallurgical testwork;
All 4 drill holes confirmed the historically reported geology and returned broad, consistently mineralized PGE intercepts including:
- 53 m at 1.18 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”) from surface, incl. 7.0 m at 2.64 g/t 2PGE+Au from 44 m in drill hole DD21CD24A
- 62 m at 0.90 g/t 2PGE+Au from 58 m, incl. 31 m at 1.40 g/t 2PGE+Au from 82 m in drill hole DD21CD05A
- 52 m at 1.03 g/t 2PGE+Au from 19 m in drill hole DD21CD89A
- 70 m at 0.71 g/t 2PGE+Au from surface, incl. 29 m at 1.12 g/t 2PGE+Au in drill hole DD21CD42A;
Metallurgical drilling campaign concluded, totaling 922 m in 14 holes, including 6 holes at Esbarro (378 m), and 4 holes at Curiu (213 m), in addition to the 332 m in 4 holes at Cedro;
Drill core for the remaining two PGE deposits which form part of the 2019 inferred resource, Trapia and Santo Amaro, will be collected from the 2020 and 2021 resource expansion drill programs;
Testwork program at ALS Metallurgy Kamloops (“ALS”) commenced in November 2021, with a primary focus on mineralogy and conventional processing circuits, and preliminary results expected in February 2022.

*Reported core assay interval lengths are estimated to represent 95-100% true width

2021 Metallurgical Drill Program

Four HQ-size core drill holes (totaling 332 m) were completed at the Cedro deposit (151,000 ounces [“oz”] 2PGE+Au contained in an inferred resource of 4.2 million tonnes [“Mt”] grading 1.10 g/t 2PGE+Au) to provide PGE mineralized material for ongoing metallurgical testwork. In addition, 6 holes (378 m) were drilled into the Esbarro deposit (394,000 oz 2PGE+Au in 9.9 Mt grading 1.23 g/t 2PGE+Au), and 4 holes (213 m) were drilled into the Curiu deposit (100,000 oz 2PGE+Au in 1.6 Mt grading 1.93 g/t 2PGE+Au). CLICK HERE for news release dated October 4, 2021, for assay results from the Esbarro and Curiu drill program.

All drill holes confirmed the historically reported mineralized ultramafic (“UM”) intrusion and returned broad, consistently mineralized 2PGE+Au intercepts, originating at surface and at depth, down dip. See Table 1 and 2 below for a complete table of Cedro drill core assays and Figure 1 for a map of the metallurgical drill hole locations at Cedro.

Table 1: Drill Core 2PGE+Au Assays from the 2021 Metallurgical Drill Program at Cedro

Hole ID	From (m)	To (m)	Length (m)	Au (g/t)	Pd (g/t)	Pt (g/t)	2PGE+Au (g/t)	Summary Interval	Gram* Metre
DD21CD05A	57.68	119.65	61.97	0.03	0.54	0.34	0.90	62 m at 0.90 g/t 2PGE+Au from 58 m incl. 31 m at 1.40 g/t 2PGE+Au from 82 m	56
DD21CD05A	82.00	112.50	30.50	0.04	0.88	0.48	1.40		56
DD21CD24A	0.00	53.00	53.00	0.03	0.79	0.36	1.18	53 m at 1.18 g/t 2PGE+Au from surface incl. 7.0 m at 2.64 g/t 2PGE+Au from 44 m	63
DD21CD24A	44.00	51.00	7.00	0.01	1.86	0.77	2.64		63
DD21CD42A	0.00	70.00	70.00	0.02	0.45	0.24	0.71	70 m at 0.71 g/t 2PGE+Au from surface incl. 29 m at 1.12 g/t 2PGE+Au from surface and 2.8 m at 1.61 g/t 2PGE+Au from 43 m	50
	0.00	29.20	29.20	0.01	0.71	0.40	1.12
	43.25	46.00	2.75	0.01	1.05	0.55	1.61
DD21CD89A	19.15	70.75	51.60	0.06	0.63	0.34	1.03	52 m at 1.03 g/t 2PGE+Au from 19 m incl. 2.8 m at 5.95 g/t 2PGE+Au, 0.11 g/t Rh from 46 m	53
DD21CD89A	45.70	48.50	2.80	0.01	4.31	1.63	5.95		53

*Reported core assay interval lengths are estimated to represent 95-100% true width

Table 2: Historical vs. 2021 Twin Core Assays Comparison

DDH Type	Hole ID	Summary Interval	*GramMetre**
Historical	DD01CD05	62 m at 0.84 g/t 2PGE+Au from 59 m	52
2021 Twin	DD21CD05A	62 m at 0.90 g/t 2PGE+Au from 58 m	56
Historical	DD07CD24	52 m at 1.34 g/t 2PGE+Au from 1.4 m	69
2021 Twin	DD21CD24A	53 m at 1.18 g/t 2PGE+Au from surface	63
Historical	DD08CD42	71 m at 0.89 g/t 2PGE+Au from surface	63
2021 Twin	DD21CD42A	70 m at 0.71 g/t 2PGE+Au from surface	50
Historical	DD10CD89	51 m at 1.14 g/t 2PGE+Au from 14 m	58
2021 Twin	DD21CD89A	52 m at 1.03 g/t 2PGE+Au from 19 m	53

Figure 1: Map of 2021 Metallurgical Drill Hole Locations at Cedro PGE Deposit

ALS Metallurgy Testwork Program

CLICK HERE for news release dated October 4, 2021, for more information regarding the ALS testwork program.

CLICK HERE for more information regarding ALS Metallurgy Kamloops.

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)

About ValOre Metals Corp.

The Pedra Branca PGE Project comprises 51 exploration licenses covering a total area of 55,984 hectares (138,339 acres) in northeastern Brazil. At Pedra Branca, 5 distinct PGE+Au deposit areas host, in aggregate, a current Inferred Resource of 1,067,000 ounces 2PGE+Au contained in 27.2 million tonnes grading 1.22 g/t 2PGE+Au (CLICK HERE for ValOre’s July 23, 2019 news release). All the currently known Pedra Branca inferred PGE resources are potentially open pittable.

On behalf of the Board of Directors,

“Jim Paterson”

James R. Paterson, Chairman and CEO

ValOre Metals Corp.

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

Vancouver, B.C. ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) reports core drilling assay results from the Massapê and Santo Amaro South targets at ValOre’s 100%-owned Pedra Branca Platinum Group Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil.

“ValOre’s proven exploration methodology has led to exciting near-surface 2021 drilling results at both Massapê and Santo Amaro South,” stated ValOre’s VP of Exploration, Colin Smith. “Both targets will be considered in the resource update planned for Q1 2022 and remain wide open for expansion with further drilling.”

Massapê Zone 2021 Drilling Highlights:

11 core holes drilled totaling 1,510 metres (“m”), with all 11 intercepting the target PGE-bearing ultramafic (“UM”) intrusion;
PGE intervals returned in 10 of 11 core holes, with highlights including:
- 21 m at 1.82 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”) from 73 metres (“m”), incl. 9.1 m at 3.0 g/t 2PGE+Au from 84 m in drill hole DD21MS09
- 21 m at 1.67 g/t 2PGE+Au from 27 m, incl. 6.6 m at 3.22 g/t 2PGE+Au from 29 m in drill hole DD21MS13
- 23 m at 1.19 g/t 2PGE+Au from 101 m, and 14 m at 0.99 g/t 2PGE+Au from 137 m incl. 5.4 m at 2.26 g/t 2PGE+Au from 136.6 m in drill hole DD21MS12;
Drill-confirmed PGE mineralization established along a 400 m trend: open along strike to the south, and at depth to the east.

Santo Amaro South Zone 2021 Drilling Highlights:

4 holes drilled totaling 300 m, with all 4 intercepting the target PGE-bearing UM intrusion, including the following highlights:
- 22 m at 1.40 g/t 2PGE+Au from 13 m in drill hole DD21SAS05
- 18 m at 1.46 g/t 2PGE+Au from 51 m, incl. 9.8 m at 2.42 g/t 2PGE+Au from 58 m in drill hole DD21SAS04
- 13 m at 1.29 g/t 2PGE+Au from 69 m in drill hole DD21SAS07;
Drill-confirmed PGE mineralization established along a 200 m trend that is open in all directions.

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

The Massapê Zone is situated four kilometres (“km”) along trend to the north of the Trapia deposit area (218,000 oz at 1.11 g/t 2PGE+Au in 6.1 Mt), and the Santo Amaro South target is situated 1 km due south of the Santo Amaro deposit area (203,000 oz at 1.19 g/t 2PGE+Au in 5.3 Mt). Both Massapê and Santo Amaro South are underexplored and highly prospective PGE-bearing zones that were not included in ValOre’s 2019 NI 43-101 Pedra Branca inferred resource (1,067,000 oz at 1.22 g/t 2PGE in 27.2 Mt). Please refer to the Summary Table of the 2019 Inferred Resource and Pedra Branca Resource Estimate NI 43-101 Technical Report, May 2019.

2021 Massapê Zone Drilling

During 2021, the Massapê target was rapidly advanced to a high priority drill target by ValOre’s sequential exploration methodology, which included detailed geological mapping, Trado^® auger drilling, and trenching (CLICK HERE for news release dated August 26, 2021).

Drilling in 2021 intercepted the target UM intrusion in all 11 core holes over 450 m of geological trend. PGE-bearing Trado^®auger hole samples have been collected along strike to the north and south of 2021 core drilling, establishing a prospective strike length of ~1 km to be further tested in 2022. See Table 1 for a summary of significant core assay results, and Figures 1-3 below.

2021 Santo Amaro South Zone Drilling

ValOre’s exploration methodology quickly established the Santo Amaro South Zone as a high-quality drill target in 2021 (CLICK HERE for news release dated March 23, 2021). This lead to a Reverse Circulation (“RC”) drilling discovery of 32 m at 1.65 g/t 2PGE+Au from surface in drill hole RC21SAS03 (CLICK HERE for news release dated August 23, 2021), and the drilling of 4 follow-up core holes, all of which intercepted the shallow PGE-bearing UM intrusion. PGE mineralization remains open in all directions, and is to be further tested in 2022. See Table 1 for a summary of significant core assay results, and Figure 4 below.

Table 1: Significant Core 2PGE+Au Assays from 2021 Massapê and Santo Amaro Drilling

Target	Hole ID	From (m)	To (m)	Length (m)	Au (g/t)	Pd (g/t)	Pt (g/t)	2PGE+Au (g/t)	Summary Interval	Zone Gram x metre	Total Gram x metre
Massapê	DD21MS06	28.95	33	4.05	0.02	1.21	0.51	1.73	4.0 m at 1.73 g/t 2PGE+Au from 29 m incl. 2.0 m at 3.10 g/t 2PGE+Au from 29 and 20 m at 0.44 g/t 2PGE+Au from 59 m	7	16
		28.95	31	2.05	0.02	2.11	0.96	3.10		7
		58.65	78.75	20.1	0.03	0.28	0.12	0.44		9
Massapê	DD21MS07	14	28	14	0.01	0.09	0.04	0.13	14 m at 0.13 g/t 2PGE+Au from 14 m incl. 6.0 m at 0.21 g/t 2PGE+Au from 22 m	2	2
Massapê	DD21MS07	22	28	6	0.01	0.13	0.07	0.21		2	2
Massapê	DD21MS08	53.65	60	6.35	0.02	0.26	0.13	0.41	6.4 m at 0.41 g/t 2PGE+Au from 54 m	3	3
Massapê	DD21MS09	66.80	93.1	26.3	0.03	1.10	0.31	1.45	26 m at 1.45 g/t 2PGE+Au from 67 m incl. 9.1 m at 3.05 g/t 2PGE+Au from 84 m	38	38
Massapê	DD21MS09	84	93.1	9.1	0.05	2.38	0.62	3.05		38	38
Massapê	DD21MS10	20.2	21	0.8	0.01	0.38	0.19	0.58	0.8 m at 0.58 g/t 2PGE+Au from 20 m	1	1
Massapê	DD21MS11	85	108.65	23.65	0.01	0.15	0.09	0.25	24 m at 0.25 g/t 2PGE+Au from 85 m incl. 2.0 m at 0.41 g/t 2PGE+Au from 89 m and 5.7 m at 0.61 g/t 2PGE+Au from 103 m	6	6
		89	91	2	0.01	0.21	0.20	0.41
		103	108.65	5.65	0.01	0.41	0.19	0.61
Massapê	DD21MS12	101	124	23	0.03	0.63	0.52	1.19	23 m at 1.19 g/t 2PGE+Au from 101 m incl. 2.3 m at 3.18 g/t 2PGE+Au from 115 m and 14 m at 0.99 g/t 2PGE+Au from 137 m incl. 5.4 m at 2.26 g/t 2PGE+Au from 137 m	28	42
		114.75	117	2.25	0.06	2.19	0.93	3.18		28
		136.6	151.02	14.42	0.01	0.77	0.21	0.99		14
		136.6	142	5.4	0.02	1.80	0.45	2.26		14
Massapê	DD21MS13	26.95	47.65	20.70	0.02	1.27	0.37	1.67	21 m at 1.67 g/t 2PGE+Au from 27 m incl. 6.6 m at 3.22 g/t 2PGE+Au from 29 m	35	35
Massapê	DD21MS13	28.55	35.15	6.60	0.04	2.20	0.60	2.84		35	35
Massapê	DD21MS14	140	164.4	24.4	0.01	0.24	0.12	0.38	24 m at 0.38 g/t 2PGE+Au from 140 m and 13 m at 3.41 g/t 2PGE+Au from 191 m incl. 2.5 m at 10.05 g/t 2PGE+Au from 197 m	9	53
		191	203.7	12.7	0.02	2.84	0.55	3.41		44
		197.46	200	2.54	0.04	8.93	1.07	10.05		44
Massapê	DD21MS16	130.95	148	17.05	0.01	0.19	0.06	0.26	17 m at 0.26 g/t 2PGE+Au from 131 m	4	4
Santo Amaro South	DD21SAS04	51	69.2	18.2	0.02	0.81	0.63	1.46	18 m at 1.46 g/t 2PGE+Au from 51 m incl. 9.8 m at 2.42 g/t 2PGE+Au from 58 m incl. 3.6 m at 4.22 g/t 2PGE+Au from 64 m	27	27
		57.75	67.55	9.8	0.03	1.30	1.09	2.42
		64	67.55	3.55	0.06	2.16	1.99	4.22
Santo Amaro South	DD21SAS05	12.6	34.15	21.55	0.01	0.88	0.52	1.40	22 m at 1.40 g/t 2PGE+Au from 13 m	30	30
Santo Amaro South	DD21SAS06	17.95	23.7	5.75	0.01	0.28	0.13	0.42	5.8 m at 0.42 g/t 2PGE+Au from 18 m incl. 2.1 m at 0.85 g/t 2PGE+Au from 22 m	2	2
Santo Amaro South	DD21SAS06	21.65	23.7	2.05	0.01	0.60	0.23	0.85		2	2
Santo Amaro South	DD21SAS07	68.7	81.52	12.82	0.02	0.82	0.46	1.29	13 m at 1.29 g/t 2PGE+Au from 68.7 m incl. 9.8 m at 1.47 g/t 2PGE+Au from 71 m incl. 3.4 m at 2.13 g/t 2PGE+Au from 77 m	17	17
		71.2	80.97	9.77	0.02	0.94	0.52	1.47
		77	80.35	3.35	0.03	1.19	0.92	2.13

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

Figure 1: Plan Map of at Massapê Target

Figure 2: Cross Section A-A’, Massapê Target

Figure 3: Cross Section B-B’, Massapê Target

Figure 4: Plan Map of Santo Amaro South Target and Santo Amaro Deposit

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”)

Disclosure Related to Finders Fees Paid on Offering

The Company also announced that further to its press release dated November 17, 2021 regarding the closing of the previously announced "best efforts" brokered private placement (the "Offering") for gross proceeds of C$11,000,000, in addition to the fees paid to Red Cloud Securities Inc. as agent, the Company paid an aggregate of $83,420 and issued an aggregate of 139,033 non-transferable finder's warrants (the "Finder's Warrants") to certain arm's-length finders in connection with their entitlement to receive 6% cash commission and 6% Finder's Warrants for subscribers introduced by such finders. Each Finder's Warrant entitles the holder to acquire one common share of the Company at a price of C$0.60 at any time on or before November 17, 2023.

About ValOre Metals Corp.

On behalf of the Board of Directors,

“Jim Paterson”

James R. Paterson, Chairman and CEO

ValOre Metals Corp.

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

Vancouver, B.C. ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today provided an exploration update for ValOre’s 100%-owned Angilak Property Uranium Project (“Angilak”), located in Nunavut Territory, Canada.

“The potential for significant resource expansion and discovery at Angilak is exceptional, including 14 targets with high-grade U₃O₈ drill intercepts which span 60 kilometres of underexplored prospective geological trend,” stated ValOre’s Vice President Exploration, Colin Smith. “ValOre is preparing a multi-faceted and fully funded 2022 exploration program to rapidly expand and advance the project, supported by the recently-closed and oversubscribed C$11M financing.”

Angilak Uranium Project 2021 Targeting Highlights

The 2022 Angilak exploration program will comprise a multi-faceted campaign including: core drilling, Enzyme Leach (“EL”) soil sampling, ground geophysics including ground magnetics and VLF-EM, and district-wide prospecting, mapping, and sampling. A property-wide targeting review has identified high-priority targets to be advanced in a fully funded 2022 exploration program, characterized into 3 target classes:

Lac 50 Trend Resource Expansion: 4 targets adjacent or contiguous to inferred resource zones;
Target Advancement: 10 targets to follow-up ValOre U₃O₈ drill intercepts at zones not included in the inferred mineral resource;
New Discovery: 20 targets which merit drilling.

Complete geophysical and geochemical datasets have been re-processed, re-interpreted and re-integrated into the Angilak geological and targeting model. In addition, 466 square kilometres (46,600 hectares) of new WorldView spectral data and high-spatial resolution imagery covers 100% of the high-priority targets and prospective basin-margin. Key areas along two major trends have been identified for completion of ground magnetics, VLF-EM and EL geochemical sampling.

ValOre has closed a C$11M financing to support a significant exploration program at Angilak in 2022 (CLICK HERE for news release dated November 17, 2021).

Targets to Drive Significant Resource Expansion and Future Discoveries

Angilak is a world-class advanced uranium exploration project with tremendous upside potential in a vastly underexplored district. The on-going property-wide targeting review has identified 34 targets to date, which are characterized into 3 classes: Resource Expansion, Target Advancement (ValOre-drilled high-grade U₃O₈ intercepts at pre-resource targets), and New Discovery (targets undrilled by ValOre). See Figure 1 below for a regional map of the Angilak Property, summarizing the locations and classes of the 34 targets reported herein, and the extent of additional planned ground magnetic and VLF-EM surveys and EL soil sampling.

Figure 1: Regional Plan Map of Angilak Property

Lac 50 Resource Expansion

The 2013 Lac 50 inferred mineral resource comprises 2,831,000 tonnes grading 0.69% U₃O₈, totaling 43.3 million pounds (“Mlbs”) of U₃O₈, representing Canada’s highest grade uranium deposit outside of the Athabasca Basin. In addition to uranium, the Lac 50 Trend contains significant quantities of silver, molybdenum and copper as outlined in the resource, and is interpreted as a basement hosted, vein-hydrothermal type, unconformity-associated uranium deposit. CLICK HERE for a summary table of the Lac 50 inferred resource estimate.

Lac 50 hosts significant resource expansion potential, with multiple high-grade U₃O₈ extension targets remaining wide open. Mineralization occurs as southwest plunging shoots, which have been traced by drilling to a maximum vertical depth of approximately 380 metres (“m”) and along a strike length of over 6 kilometres (“km”).

Resource Expansion Target (J4 West – Example)

Lac 50’s J4 Zone (“J4”) contributes 15.3 Mlbs of U₃O₈ grading 0.75% U₃O₈, 30.1 g/t Ag, 0.20% Mo and 0.26% Cu to the overall Lac 50 Trend resource. J4 remains entirely open down-plunge, and the re-processed ground VLF-EM data highlights a distinct off-set and interpreted continuation of the uranium-rich conductor immediately to the east-southeast of the resource zone. See Figures 2 and 3 below for a plan maps and 3D cross sections of J4, showing the fully open high-grade U₃O₈ shoots at depth, and the potential for continuation of the J4 and Ray zones along their interpreted fault offset to the west.

Similar resource upside has also been identified at Lac 50’s Eastern Extension (“EE”), Western Extension (‘WE”) and Main Zone (“MZ”), all of which will be considered for targeted expansion drilling.

Figure 2: Plan Map of J4 and Ray Resource Zones, and J4 West Resource Expansion Target

Figure 3: Cross Section of J4 and Ray Resource Zones, and J4 West Resource Expansion Target

Target Advancement (Blaze – Example)

The Blaze Target (Figure 4) is located approximately 2 km west of the Lac 50 Trend. Mineralization occurs as complex pitchblende veins and disseminated sulphides in quartz-carbonate veins and breccia. The Blaze Target has been drilled across a strike length of 100 m, with significant mineralization intersected between 30 and 126 m depth below surface. A total of 3,466 m in 24 drill holes drilled in 2010 and 2011 investigated mineralization at Blaze. The most notable Blaze drill hole is 11-BZ-010 assaying 1.01% U₃O₈ over 25.4 m. Subsequent drill holes suggest the true width of this intercept to be roughly 4 m. Blaze is untested by drilling for at least 1000 m to the west-northwest along a strongly anomalous uranium-in-soils trend (EL) and related to a 600 m VLF-EM conductor.

Figure 4: Plan Map of Blaze Target

New Discovery Target (RIB – Example)

The RIB target (Figure 5) was identified as a basement conductor by Noranda Exploration Ltd. in 1976. During 1977-78, 14 of 25 diamond drill holes over a 1.2-km trend intersected uranium mineralization at shallow depths (less than 35 m), with the two best intercepts being 0.19% U₃O₈ over 9.3 m, including 0.52% U₃O₈ over 2.6 m and 1.61% U₃O₈ over 0.7 m. Exploration by ValOre in 2014 confirmed the RIB conductor using airborne VTEM geophysics. EL soil samples also outlined a corresponding 4-km-long uranium geochemical trend extending northeast, southwest and south of the historic Noranda drilling. Cobbles discovered south of the historic Noranda drilling near the anomalous EL soil geochemical samples assayed 5.34% U and lie on a parallel geophysical conductive trend approximately 500 m southeast of the conductor tested by the Noranda drilling. Planned ground magnetic and VLF-EM coverage will assist in better correlating the EL uranium anomalies with specific conductor targets prior to drilling.

Figure 5: Plan Map of RIB 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 C$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 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.

About WorldView Spectral Data

CLICK HERE for ValOre’s summary of WorldView spectral data, and CLICK HERE for additional information from DigitalGlobe™ on the Hi-Res WV-3 orbiting system.

Qualified Person (“QP”)

Information in this presentation 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.

Susan Lomas, P.Geo., of LGGC is the QP, as defined in NI 43-101, responsible for the Pedra Branca mineral resource estimates as reported below.

About ValOre Metals Corp.

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

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.

On behalf of the Board of Directors,

“Jim Paterson”

James R. Paterson, Chairman and CEO

ValOre Metals Corp.

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

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

“2021 drilling at Santo Amaro was a great success, with significant shallow PGE intercepts returned in 16 of 20 holes,” stated ValOre’s VP of Exploration, Colin Smith. “The 127-metre PGE intercept in drill hole DD21SA27, situated 95 metres outside of the resource to the east-southeast, demonstrates the impressive upside potential of this underexplored target area.”

Key Updates on 2021 Santo Amaro Core Drilling:

20 holes drilled totaling 2,316 metres (“m”), with a primary focus of resource expansion;
All 20 completed holes intercepted the target ultramafic (“UM”) intrusion, with assays received in full, and notable PGE intercepts returned in 16 of 20 core holes;
Newly received near surface PGE interval highlights include:
- 127 m at 0.85 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”) from 39 m, incl. 27 m at 2.25 g/t 2PGE+Au from 55 m in drill hole DD21SA42
- 53 m at 1.19 g/t 2PGE+Au from 2.0 m, incl. 20 m at 2.13 g/t 2PGE+Au from 29 m in drill hole DD21SA34
- 22 m at 2.64 g/t 2PGE+Au from 18 m, incl. 6.0 m at 5.32 g/t 2PGE+Au from 29 m in drill hole DD21SA37
- 20 m at 1.67 g/t 2PGE+Au from 40 m in drill hole DD21SA33;
Drill-confirmed PGE mineralization along the trend has increased in strike length from 215 m to over 600 m;
Continuity of geology and PGE grade has been established between Northwest Target (“NW”) and resource area, with 8 positive NW drill holes spaced ~60-90 m apart;
Broad trends of near-surface PGE mineralization remain largely open.

*Reported core assay interval lengths are estimated to represent 80-100% true width

Santo Amaro Target and the 2019 Mineral Resource Domain

Santo Amaro is one of five currently defined PGE deposit areas at Pedra Branca, which together host an inferred resource totalling 1,067,000 ounces (“oz”) of 2PGE+Au contained in 27.2 million tonnes (“Mt”) grading 1.22 g/t 2PGE+Au. Summary Table of the 2019 Inferred Resource and Pedra Branca Resource Estimate NI 43-101 Technical Report, May 2019.

Shallow, well-mineralized intercepts have been returned for all 10 holes, establishing strong geology and PGE grade continuity of the resource area. Highlight PGE intercepts include: 36 m at 2.22 g/t 2PGE+Au from 43 m, incl. 9.1 m at 6.38 g/t 2PGE+Au from 43 m in drill hole DD21SA30, and 53 m at 1.19 g/t 2PGE+Au from 2.0 m, incl. 20 m at 2.13 g/t 2PGE+Au from 29 m in drill hole DD21SA34. See Table 1 below for a summary of significant drill core assays, and Figure 1 below for a plan map of Santo Amaro drilling.

Resource Expansion Potential Along Strike

The easterly resource strike extension exhibits a thickening of the mineralized package and was subsequently targeted with 3 holes in 2021. All three holes intercepted broad intervals of target UMs along trend from the existing resource, including highlight drill hole DD21SA42, which returned 127 m at 0.85 g/t 2PGE+Au from 39 m, including 27 m at 2.25 g/t 2PGE+Au from 55 m. See Table 1 below for a summary of significant drill core assays, and Figure 2 below for a cross section of DD21SA42.

The resource strike potential also remains open to the west and northwest, as evidenced by western-most 2020 drill hole DD20SA23, which returned 20 m at 0.98 g/t 2PGE+Au from surface (CLICK HERE for news release dated January 15, 2021), and 2021 drill hole DD21SA37, situated 220 m to the northwest (NW Target), which returned 22 m at 2.64 g/t 2PGE+Au from 18 m.

Northwest Target Area

The NW Target represents an emerging shallow PGE body approximately 250 m north-northwest of the resource area, targeted with 6 holes totaling 729 m in 2021, with the goal of incorporating the zone into a future inferred resource estimate. All 6 holes intercepted the target shallow UM intrusion, with 4 holes returning significant near-surface PGE intercepts, building strong geological continuity between the 200 m by 300 m zone, and the resource area (250 m to the south-southeast). Highlight drill hole DD21SA37 returned 22 m at 2.64 g/t 2PGE+Au from 18 m, incl. 6.0 m at 5.32 g/t 2PGE+Au from 29 m. See Table 1 below for a summary of significant drill core assays.

Table 1: Significant Core 2PGE+Au Assays from 2021 Santo Amaro Drilling

Target	Hole ID	From (m)	To (m)	Length (m)	Au (g/t)	Pd (g/t)	Pt (g/t)	2PGE+Au (g/t)	Summary Interval**	Gram x metre
Scissor Target	DD21SA25*	41.90	99.76	57.86	0.01	0.29	0.30	0.60	59 m at 0.60 g/t 2PGE+Au from 42 m	35
Scissor Target	DD21SA26*	34.02	62.60	28.58	0.04	0.54	0.26	0.83	29 m at 0.83 g/t 2PGE+Au from 34 m incl. 12 m at 1.12 g/t 2PGE+Au from 43 m	24
Scissor Target	DD21SA26*	43.00	55.00	12.00	0.02	0.73	0.37	1.12		24
NW Target	DD21SA27*	8.50	13.00	4.50	0.01	0.12	0.12	0.26	4.5 m at 0.26 g/t 2PGE+Au from 8.5 m and 31 m at 0.26 g/t 2PGE+Au from 88 m incl. 4.0 m at 0.99 g/t 2PGE+Au from 88 m	9
		88.00	119.00	31.00	0.01	0.17	0.08	0.26
		88.00	92.00	4.00	0.02	0.73	0.25	0.99
Scissor Target	DD21SA28*	19.95	27.60	7.65	0.05	1.30	1.60	2.96	7.7 m at 2.96 g/t 2PGE+Au from 20 m incl. 3.0 m at 5.24 g/t 2PGE+Au from 22 m	23
Scissor Target	DD21SA28*	22.00	25.00	3.00	0.08	2.55	2.60	5.24		23
Scissor Target	DD21SA29*	22.55	51.42	28.87	0.14	0.89	0.38	1.41	29 m at 1.41 g/t 2PGE+Au from 23 m	41
Scissor Target	DD21SA30*	42.55	78.15	35.60	0.02	1.16	1.05	2.22	36 m at 2.22 g/t 2PGE+Au from 43 m incl. 9.1 m at 6.38 g/t 2PGE+Au from 43 m	79
Scissor Target	DD21SA30*	42.55	51.67	9.12	0.03	3.28	3.07	6.38		79
Scissor Target	DD21SA31	49.22	95.00	45.78	0.01	0.42	0.38	0.81	46 m at 0.81 g/t 2PGE+Au from 49 m incl. 16 m at 1.22 g/t 2PGE+Au from 52 m	37
Scissor Target	DD21SA31	52.00	68.00	16.00	0.02	0.61	0.65	1.27		37
Scissor Target	DD21SA32	18.14	41.00	22.86	0.03	0.84	0.20	1.07	23 m at 1.07 g/t 2PGE+Au from 18 m incl. 8.0 m at 2.13 g/t 2PGE+Au from 22 m	24
Scissor Target	DD21SA32	22.00	30.00	8.00	0.06	1.71	0.36	2.13		24
Scissor Target	DD21SA33	1.35	4.00	2.65	0.01	0.19	0.19	0.40	2.7 m at 0.40 g/t 2PGE+Au from 1.4 m and 20 m at 1.67 g/t 2PGE+Au from 40 m	34
Scissor Target	DD21SA33	40.00	59.70	19.70	0.02	1.02	0.63	1.67		34
Scissor Target	DD21SA34	2.00	55.00	53.00	0.02	0.55	0.63	1.19	53 m at 1.19 g/t 2PGE+Au from 2 m incl. 19.9 m at 2.13 g/t 2PGE+Au from 29 m	63
Scissor Target	DD21SA34	29.00	48.90	19.90	0.01	0.76	1.35	2.13		63
Scissor Target	DD21SA35	46.45	49.00	2.55	0.01	0.27	0.32	0.60	2.6 m at 0.60 g/t 2PGE+Au from 47 m	2
NW Target	DD21SA36	0.00	8.00	8.00	0.01	0.17	0.05	0.23	8.0 m at 0.23 g/t 2PGE+Au from surface and 15 m at 0.22 g/t 2PGE+Au from 119 m	5
NW Target	DD21SA36	118.50	133.75	15.25	0.01	0.10	0.10	0.22		5
NW Target	DD21SA37	17.90	39.50	21.60	0.01	0.88	1.75	2.64	22 m at 2.64 g/t 2PGE+Au from 18 m incl. 5.95 m at 5.32 g/t 2PGE+Au from 29 m	57
NW Target	DD21SA37	29.00	34.95	5.95	0.01	1.84	3.47	5.32		57
NW Target	DD21SA40	35.08	58.85	23.77	0.01	0.36	0.23	0.59	24 m at 0.59 g/t 2PGE+Au from 35 m incl. 4.5 m at 1.33 g/t 2PGE+Au from 54 m	14
NW Target	DD21SA40	54.35	58.85	4.50	0.01	0.85	0.47	1.33		14
East Strike Extension	DD21SA41	0.00	28.00	28.00	0.01	0.27	0.23	0.51	28 m at 0.51 g/t 2PGE+Au from surface incl. 5.2 m at 1.30 g/t 2PGE+Au from 3.9 m	14
East Strike Extension	DD21SA41	3.90	9.05	5.15	0.01	0.53	0.76	1.30		14
East Strike Extension	DD21SA42	39.00	165.85	126.85	0.02	0.42	0.41	0.85	127 m at 0.85 g/t 2PGE+Au from 39 m incl. 27 m at 2.25 g/t 2PGE+Au from 55 m	108
East Strike Extension	DD21SA42	55.00	82.05	27.05	0.04	1.04	1.17	2.25		108

*Released October 20, 2021
**Reported core assay interval lengths are estimated to represent 80-100% true width

Figure 1: Plan Map of Santo Amaro Drilling

Figure 2: Cross Section of Drill Hole DD21SA42

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”)

About ValOre Metals Corp.

On behalf of the Board of Directors,

“Jim Paterson”

James R. Paterson, Chairman and CEO

ValOre Metals Corp.

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

Santo Amaro Drilling Update – Oct 20, 2021

Vancouver, B.C. ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today provided an update on 2021 drilling from the Santo Amaro target at ValOre’s 100%-owned Pedra Branca Platinum Group Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil.

“2021 drilling at Santo Amaro has greatly advanced the interpreted geological model for the resource-associated ultramafic package, allowing for more targeted resource expansion drilling and a higher level of confidence in future resource estimations,” stated ValOre’s VP of Exploration, Colin Smith. “Significant drilling results include the 110-metre ultramafic intercept in DD21SA42, a ~95 metre step-out hole drilled to the southeast of the current resource; multiple near surface intervals of mineralization within and along strike from the current resource; and mineralized intercepts better defining the NW mineralized zone, situated ~250 metres northwest of the current resource.”

Key Updates on 2021 Santo Amaro Core Drilling:

19 holes drilled totaling 2,204 metres (“m”), with a primary focus of resource expansion;
All 19 completed holes intercepted the target UM intrusion, with assays received in full for 7 holes (12 holes pending), and the final drill hole currently in progress;
Near surface mineralization encountered in 7 of the 7 holes received to date, with a highlight of:
- 36 m at 2.22 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”) from 43 m, including 9.1 m at 6.38 g/t 2PGE+Au from 43 m in drill hole DD21SA30;
Assays pending for a 110-metre chromite-bearing ultramafic intercept in step-out hole DD21SA42;
Advancement of NW mineralized zone, situated ~250 metres northwest of the resource:
- All 6 drill holes intercepted target ultramafic (“UM”) intrusion (assays pending);
Upon completion of the final hole, both drill rigs to be mobilized to the Santo Amaro South target, 1.5 kilometres (“km”) south, to drill 200 m in 4 holes, and thereafter to the Massapê target, 30 km southwest, to drill 1000 m in 10 holes.

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

Santo Amaro Target and the 2019 Mineral Resource Domain

The 2019 Santo Amaro mineral resource was defined by 5 pre-ValOre drill holes spaced 45-60 m apart, along a collective geological trend of 215 m, which together comprise an inferred resource of 203,000 oz at 1.19 g/t 2PGE+Au in 5.3 Mt. To improve geological constraint for the next resource re-estimation, 10 scissor holes were drilled in 2021 from 5 pads (2 holes per pad) to the north of the resource holes, with each pad having 1 vertical hole (-90° dip) and 1 angled hole to the south (-50° dip). Shallow, well-mineralized 2PGE+Au intercepts have been returned for all holes received to date (7 received, 12 pending), greatly improving drill-confirmed defined continuity of the resource area and exposing strong resource upside to the east and southeast of previous drilling. See Table 1 below for a summary of significant drill core assays from the 2021 scissor holes and CLICK HERE for a plan map of Santo Amaro drilling to date (Figure 1).

Resource Expansion Potential Along Strike

While PGE mineralization in the UM intrusion that hosts the Santo Amaro resource remains open in both directions along strike, the easterly extension exhibits a potential thickening of the target package and was subsequently targeted with 2 holes in 2021. Both holes intercepted broad, shallow intervals of chromite-bearing UMs along trend from the existing resource, with DD21SA42 transecting 110 m of the target host intrusion and DD21SA40 transecting 24 m (assays pending).

The resource strike potential also remains open to the west, as evidenced by western-most 2020 drill hole DD20SA23, which returned 20 m at 0.98 g/t 2PGE+Au from surface (CLICK HERE for news release dated January 15, 2021). Potential geological continuity has been built with the advancing Northwest target area, which would more than double the trend of shallow PGE-bearing ultramafics at Santo Amaro.

Northwest Target Area (“NW”)

An emerging shallow PGE body approximately 250 m north-northwest of the resource area was drilled with 6 holes totaling 729 m in Q3-Q4 2021, with the goal of incorporating the zone into a future inferred resource estimate. All 6 holes intercepted the target shallow UM intrusion, building strong geological continuity across the 200 m by 300 m zone. Assays remain pending for 5 out of the 6 NW holes, with the DD21SA27 returning 31 m at 0.26 g/t 2PGE+Au from 88 m, including 4.0 m at 0.99 g/t 2PGE+Au from 88 m.

Table 1: Significant Core 2PGE+Au Assays from 2021 Santo Amaro Drilling (Partial Results)

Hole ID**	From (m)	To (m)	Length (m)	Au (g/t)	Pd (g/t)	Pt (g/t)	2PGE+Au (g/t)	Summary Interval
DD21SA25	41.90	99.76	57.86	0.01	0.29	0.30	0.60	58 m at 0.60 g/t 2PGE+Au from 42 m
DD21SA26	34.02	62.60	28.58	0.04	0.54	0.26	0.83	29 m at 0.83 g/t 2PGE+Au from 34 m incl. 12 m at 1.12 g/t 2PGE+Au from 43 m
DD21SA26	43.00	55.00	12.00	0.02	0.73	0.37	1.12
DD21SA27	8.50	13.00	4.50	0.01	0.12	0.12	0.26	4.5 m at 0.26 g/t 2PGE+Au from 8.5 m and 31 m at 0.26 g/t 2PGE+Au from 88 m incl. 4.0 m at 0.99 g/t 2PGE+Au from 88 m
	88.00	119.00	31.00	0.01	0.17	0.08	0.26
	88.00	92.00	4.00	0.02	0.73	0.25	0.99
DD21SA28	19.95	27.60	7.65	0.05	1.30	1.60	2.96	7.7 m at 2.96 g/t 2PGE+Au from 20 m incl. 3.0 m at 5.24 g/t 2PGE+Au from 22 m
DD21SA28	22.00	25.00	3.00	0.08	2.55	2.60	5.24
DD21SA29	22.55	51.42	28.87	0.14	0.89	0.38	1.41	29 m at 1.41 g/t 2PGE+Au from 23 m
DD21SA30	42.55	78.15	35.60	0.02	1.16	1.05	2.22	36 m at 2.22 g/t 2PGE+Au from 43 m incl. 9.1 m at 6.38 g/t 2PGE+Au from 43 m
DD21SA30	42.55	51.67	9.12	0.03	3.28	3.07	6.38
DD21SA32	18.14	41.00	22.86	0.03	0.84	0.20	1.07	23 m at 1.07 g/t 2PGE+Au from 18 m incl. 8.0 m at 2.13 g/t 2PGE+Au from 22 m
DD21SA32	22.00	30.00	8.00	0.06	1.71	0.36	2.13

*Reported core assay interval lengths are estimated to represent 90-100% true width
**Assays pending for drill holes DD21SA31, and DD21SA33 to DD21SA42

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)

About ValOre Metals Corp.

On behalf of the Board of Directors,

“Jim Paterson”

James R. Paterson, Chairman and CEO

ValOre Metals Corp.

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

Santo Amaro Drilling Update – Oct 20, 2021

ValOre PGE Assays from Metallurgical Drilling at Pedra Branca Confirm Historical Drilling Averages in Curiu and Esbarro Zones
Drill Hole DD21ES15C significantly exceeds previous results: 77 m at 2.95 g/t 2PGE+Au from surface, incl. 6.4 m at 16.92 g/t 2PGE+Au and 0.52 g/t Rh from 29.7 m

Vancouver, B.C. ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today provided an update on metallurgy at ValOre’s 100%-owned Pedra Branca Platinum Group Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil.

“We are very encouraged by confirmatory drill core assay results from the Esbarro and Curiu PGE deposits, which returned impressive, high-grade palladium-platinum through broad intercepts from surface,” stated ValOre’s VP of Exploration, Colin Smith. “In addition, we welcome metallurgist Chris Kaye to the ValOre team, whose extensive experience will help accelerate the advancement of the Pedra Branca Project.”

Key Updates on Metallurgical Drilling, Testwork and Personnel:

Ten HQ-size core drill holes totaling 591 metres (“m”) at the Curiu and Esbarro PGE deposit areas were completed, logged, sampled and assayed prior to planned metallurgical testwork;
All 10 drill holes confirmed the historically reported geology and returned high-grade, shallow PGE-mineralized intercepts including:
- 77 m at 2.95 g/t 2PGE+Au from surface, incl. 45 m at 4.76 g/t 2PGE+Au, 0.1 g/t Rh from 16 m, and 6.4 m at 16.92 g/t 2PGE+Au and 0.52 g/t Rh from 30 m in drill hole DD21ES15C
- 49 m at 2.03 g/t 2PGE+Au from 19 m, incl. 4.6 m at 11.94 g/t 2PGE+Au, 0.25 g/t Rh from 23.68 m in Drill hole DD21CU12A
- 77 m at 1.01 g/t 2PGE+Au from surface in drill hole DD21PBE30A
- 47 m at 1.51 g/t 2PGE+Au from surface in drill hole DD21CU12A;
Highly experienced metallurgist, Chris Kaye, has been engaged to oversee the current and future testwork campaigns;
Metallurgical testwork program at ALS Metallurgy Kamloops (“ALS”) expected to commence mid-October, with a primary focus on mineralogy and conventional processing circuits;
Composite samples have been selected and shipped.

*Reported core assay interval lengths are estimated to represent 95-100% true width

2021 Metallurgical Drill Program

Ten HQ-size core drill holes (totaling 591 m) were completed to provide PGE mineralized material for planned metallurgical testwork. Six holes (378 m) were drilled into the Esbarro deposit (394,000 ounces 2PGE+Au contained in an inferred resource of 9.9 million tonnes (“Mt”) grading 1.23 g/t 2PGE+Au), and four holes (213 m) were drilled into the Curiu deposit (1.6 Mt grading 1.93 g/t 2PGE+Au, containing 100,000 ounces).

All drill holes confirmed the historically reported mineralized ultramafic (“UM”) intrusion and returned broad, shallow, high-grade 2PGE+Au intercepts. See Table 1 below for a complete table of drill core assays and CLICK HERE for a map of the metallurgical drill hole locations at Esbarro and Curiu (Figure 1).

Table 1: Drill Core 2PGE+Au Assays from the 2021 Metallurgical Drill Program

Deposit	Hole ID	From (m)	To (m)	Length (m)	Au (g/t)	Pd (g/t)	Pt (g/t)	2PGE+Au (g/t)	Summary Interval
Esbarro	DD21ES15C	0.00	77.00	77.00	0.04	2.06	0.85	2.95	77 m at 2.95 g/t 2PGE+Au from surface incl. 45 m at 4.76 g/t 2PGE+Au, 0.1 g/t Rh from 16 m and 6.4 m at 16.92 g/t 2PGE+Au 0.52 g/t Rh from 30 m
		16.00	61.00	45.00	0.04	3.33	1.38	4.76
		29.65	36.00	6.35	0.10	11.66	5.17	16.92
Esbarro	DD21PBE30A	0.00	77.00	77.00	0.05	0.64	0.32	1.01	77 m at 1.01 g/t 2PGE+Au from surface incl. 13 m at 2.71 g/t 2PGE+Au from 36 m and 2.7 m at 7.82 g/t 2PGE+Au, 0.18 g/t Rh from 37 m
		36.03	49.00	12.97	0.02	1.79	0.91	2.71
		36.69	39.36	2.67	0.04	5.19	2.58	7.82
Esbarro	DD21RW005A	0	56.12	56.12	0.01	0.73	0.39	1.13	56 m at 1.13 g/t 2PGE+Au from surface incl. 17 m at 2.38 g/t 2PGE+Au from 17 m and 1.3 m at 12.96 g/t 2PGE+Au from 17 m
		16.77	33.64	16.87	0.02	1.61	0.75	2.38
		16.77	18.08	1.31	0.03	9.41	3.52	12.96
Esbarro	DD21PBE17A	0.00	31.34	31.34	0.01	1.48	0.45	1.95	31 m at 1.95 g/t 2PGE+Au from surface incl. 18 m at 3.14 g/t 2PGE+Au from surface
Esbarro	DD21PBE17A	0.00	17.81	17.81	0.01	2.45	0.68	3.14
Esbarro	DD21ES13A	0.00	32.33	32.33	0.04	0.78	0.27	1.10	32 m at 1.10 g/t 2PGE+Au from surface incl. 21 m at 1.47 g/t 2PGE+Au from surface and 6.0 m at 2.80 g/t 2PGE+Au from surface
		0.00	21.00	21.00	0.06	1.10	0.31	1.47
		0.00	6.00	6.00	0.12	2.15	0.54	2.80
Esbarro	DD21PBE35A	9.54	42.00	32.46	0.01	0.62	0.39	1.03	32 m at 1.03 g/t 2PGE+Au from 9.5 m incl. 16 m at 1.67 g/t 2PGE+Au from 15 m
Esbarro	DD21PBE35A	15.00	31.00	16.00	0.01	1.02	0.64	1.67
Curiu	DD21CU12A	18.97	68.18	49.21	0.06	1.25	0.72	2.03	49 m at 2.03 g/t 2PGE+Au from 19 m incl. 4.6 m at 11.94 g/t 2PGE+Au, 0.25 g/t Rh from 24 m
Curiu	DD21CU12A	23.68	28.25	4.57	0.12	7.77	4.06	11.94
Curiu	DD21CU26A	0.00	17.80	17.80	0.14	2.46	1.70	4.30	18 m at 4.30 g/t 2PGE+Au from surface
Curiu	DD21CU22A	0.00	47.00	47.00	0.06	0.86	0.59	1.51	47 m at 1.51 g/t 2PGE+Au from surface incl. 8.0 m at 4.47 g/t 2PGE+Au from surface and 2.5 m at 3.89 g/t 2PGE+Au from 28 m
		0.00	8.00	8.00	0.16	2.31	2.00	4.47
		27.80	30.30	2.50	0.10	2.73	1.06	3.89
Curiu	DD21CU15A	0.00	37.00	37.00	0.05	1.00	0.65	1.70	37 m at 1.70 g/t 2PGE+Au from surface incl. 5.9 m at 5.30 g/t 2PGE+Au from 1.0 m
Curiu	DD21CU15A	1.00	6.85	5.85	0.12	2.79	2.40	5.30

*Reported core assay interval lengths are estimated to represent 95-100% true width

ALS Metallurgy Testwork Program

The ALS testwork program will comprise a detailed mineralogical assessment and conventional flotation tests on a composite sample of ¼ HQ drill core from the Curiu deposit. A Particle Size Analysis (“PSA”) study will be performed prior to the mineralogical assessment, and subsequent rougher floatation, Davis Tube and magnetic separation rougher tests will be completed. Assays will be taken on the heads, fractions, and final test products to assess metallurgical recoveries.

Historical metallurgical testing of material from the Pedra Branca project has involved assessing a range of different processing alternatives, including conventional treatment such as grinding, and flotation as it relates to alterations and material types. This testwork has produced a valuable insight into the metallurgical response of the different material types associated with the project; particularly with respect to the Curiu material. The ALS metallurgical testwork program is designed to leverage from this historical testing and incorporate mineralogical assessment of rock types while evaluating modifications to the processing route and optimizing the treatment criterion developed to date.

About ALS Metallurgy Kamloops

ALS has established a reputation as a leader in process development, circuit optimization and mineralogical analysis. As the global leader in metallurgical testing and consulting services for mineral process flowsheet development and optimization, ALS offers mineral processing testing by both bench scale and pilot scale facilities, hydrometallurgical and mineralogical test services, and project management by expert metallurgists.

CLICK HERE for more information regarding ALS Metallurgy Kamloops.

Chris Kaye, Metallurgist

ValOre will draw on the experience of metallurgist, Chris Kaye (President & Principal Process Engineer of Mine and Quarry Engineering Services Inc., “MQes”), to oversee current and future metallurgical testwork programs for Pedra Branca. Chris has over 35 years’ experience in mining and mineral processing, working with operating mines, engineering companies and consulting companies. He has expertise in PGEs, Gold, Silver, Copper, Nickel, Lead, Zinc and Aluminum projects in Australia, Finland, Canada, Zambia, Argentina, Chile, Mexico and the USA, with extensive experience in project development, managing plants, and developing “green-field” projects.

CLICK HERE for more information regarding MQes.

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)

About ValOre Metals Corp.

On behalf of the Board of Directors,

“Jim Paterson”

James R. Paterson, Chairman and CEO

ValOre Metals Corp.

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

ValOre drills 77 Metres At 2.95 g/t 2PGE+Au From Surface – Oct 4, 2021

Vancouver, B.C. ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today provided an update on resource expansion drilling at the Trapia 1 and Trapia 2 target areas (“Trapia”), of ValOre’s 100%-owned Pedra Branca Platinum Group Element (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil.

“PGE assay results from ValOre’s 2020 and 2021 Trapia drill programs illustrate the significant potential for resource expansion. We have now tripled the strike length of known PGE mineralization at Trapia 1 and increased Trapia 2 strike length by a factor of five,” stated ValOre’s VP of Exploration, Colin Smith. “We eagerly await the recalculation of Trapia’s resource estimates, which we expect to initiate in Q4, 2021.”

Highlights of 2020 and 2021 Resource Expansion Drilling at Trapia 1 and Trapia 2:

Tripled known strike length of drill-confirmed PGE mineralization at Trapia 1, from 155 metres (“m”) to 470 m, and increased strike length by a factor of over five at Trapia 2, from 90 m to 490 m;
Established a new PGE zone 400 metres (“m”) to the northeast and along trend from current Trapia 2 resource area;
Confirmed and broadened up-dip surface PGE mineralization outside of the currently defined Trapia 1 resource;
Intercepted thickened, high-grade PGE mineralization down-dip and outside of currently defined resources at both Trapia 1 and Trapia 2.

Table 1: Summary of 2019 Trapia Inferred Mineral Resources and 2020-2021 Drill Upside

Deposit	Tonnage	Pd Grade (g/t)	Pt Grade (g/t)	Au Grade (g/t)	2PGE+Au Grade (g/t)	2PGE+Au (Ounces)	Pre-ValOre DDHs in 2019 Inferred Pit-Constrained Resource	2020-2021 DDHs (>10 gram x metre 2PGE+Au intercepts)
Trapia 1	2,600,000	0.71	0.36	0.03	1.09	92,000	7	14 of 23
Trapia 2	1,700,000	0.79	0.31	0.04	1.14	62,000	3	8 of 14
Trapia West	1,800,000	0.63	0.45	0.03	1.12	64,000	7	did not drill
TOTAL	6,100,000	0.71	0.37	0.03	1.11	218,000	17	22 of 37

Resource Expansion Drilling at Trapia

ValOre’s 2020 and 2021 drill programs have successfully extended PGE mineralization outside of the inferred resources at both the Trapia 1 and Trapia 2 deposits. Figures 1a and 1b show the location of the 2020 and 2021 core drill holes within the Trapia 1 (5,280 m in 23 holes) and Trapia 2 (2,240 m drilled in 14 holes) target areas.

Table 1 (above) summarizes the Trapia 2019 pit-constrained NI 43-101 inferred resource and illustrates the PGE resource expansion potential from ValOre’s 2020 and 2021 drill core assay results. A 10 “gram x metre” 2PGE+Au threshold was applied, based on the two lowest gram x metre assay intervals of resource holes, drill hole DD09TD03 (7.53 gram x metre hole in Trapia 2 resource) and drill hole DD09TU08 (9.61 gram x metre hole in Trapia 1 resource).

At Trapia 1, the strike length of drill-confirmed PGE mineralization has tripled from 155 m to 470 m, as corroborated by 14 drill intercepts of PGE mineralization in 15 drill holes (2020 and 2021) south of the 2019 inferred resource, including:

Drill hole DD20TU20: 76.74 m at 1.25 g/t 2PGE+Au from 176.81 m
Drill hole DD21TU22: 59.20 m at 1.09 g/t 2PGE+Au from 172.80 m
Drill hole DD21TU25: 57.35 m at 1.00 g/t 2PGE+Au from 238.15 m
Drill hole DD20TU13: 61.85 m at 0.81 g/t 2PGE+Au from 217.15 m

The strike length extension was accomplished after ValOre’s geologists reinterpreted the structural and geological model at Trapia 1 and established that the PGE-mineralized intrusion was not truncated by a fault along the southern resource margin, as previously interpreted by past operators, but remained fully intact and stepped down by 40 to 50 m. As such, historical resource expansion holes to the south of the stepdown were stopped short of the PGE-bearing ultramafic (“UM”) intrusion. Strike potential of the mineralized UM target remains open in both directions (north-northeast and south-southwest). See Figure 2 below for a plan map of 2020 and 2021 core drill holes at Trapia 1, compared with the 2019 inferred resource holes.

ValOre drilling has also confirmed and broadened the up- and down-dip high-grade PGE mineralization outside of the currently defined resource area, including the up-dip, surface PGE intercept in drill hole DD20TU10, which graded 52.37 m at 1.24 g/t 2PGE+Au from 0.45 m; and down-dip drill holes DD20TU12, with 100.42 m grading 0.76 g/t 2PGE+Au from 93.15 m, and DD21TU21 which graded 1.29 g/t 2PGE+Au over 71.90 m from 134.95 m depth.

Figure 2: Plan Map of 2020 and 2021 Core Drill Holes at Trapia 1, Compared with 2019 Resource

At Trapia 2, ValOre’s 2020 and 2021 core drilling has increased the drill-confirmed PGE-mineralized strike length by a factor of greater than five times, from 90 m to 490 m. This includes a new PGE zone situated 400 m to the northeast and along trend from current resource area, supported by six PGE drill intercepts in seven core holes from 2020 and 2021. In addition, geological continuity of the UM host rocks was established for over 800 m of geological trend, which remains open in both directions. See Figure 3 below for a plan map of 2020 and 2021 core drill holes at Trapia 2, compared with the 2019 inferred resource holes.

ValOre’s 2020 and 2021 drilling produced the top two core holes to date from a 2PGE+Au gram x metre interval perspective at Trapia 2, and five of the top six, including:

Drill hole DD21TD14: 11.27 m at 2.10 g/t 2PGE+Au from 152.48 m (released today)
Drill hole DD21TD16: 45.45 m at 0.61 g/t 2PGE+Au from 178.55 m (released today)
Drill hole DD21TD17: 21.60 m at 0.49 g/t 2PGE+Au from 43.80 m (released today)
Drill hole DD20TD13: 45.62 m at 0.54 g/t 2PGE+Au from 9.10 m
Drill hole DD20TD07: 52.15 m at 0.49 g/t 2PGE+Au from 4.85 m

Figure 3: Plan Map of 2020 and 2021 Core Drill Holes at Trapia 2, Compared with 2019 Resource

Table 2 summarizes significant PGE assay results from 2020 and 2021 Trapia 1 and Trapia 2 core drilling.

Trapia Target Areas and the 2019 Mineral Resource Domain

Trapia is one of five currently defined PGE deposit areas at Pedra Branca, which together host an inferred resource totalling 1,067,000 ounces of 2PGE+Au contained in 27.2 million tonnes (“Mt”) grading 1.22 g/t 2PGE+Au. Summary Table of the 2019 Inferred Resource and Pedra Branca Resource Estimate NI 43-101 Technical Report, May 2019.

The Trapia mineral resource comprises three separate UM intrusive areas within a 2-kilometre radius: Trapia 1, Trapia 2 and Trapia West. Specifically, Trapia 1 represents 92,000 ounces of the aggregate Trapia inferred resources of 219,000 ounces at 1.10 g/t 2PGE+Au (6.2 Mt), and Trapia 2 represents 62,000 ounces of the aggregate Trapia inferred resource.

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”)

About ValOre Metals Corp.

The Pedra Branca PGE Project comprises 39 exploration licenses covering a total area of 39,987 hectares (98,810 acres) in northeastern Brazil. At Pedra Branca, 5 distinct PGE+Au deposit areas host, in aggregate, a current Inferred Resource of 1,067,000 ounces 2PGE+Au contained in 27.2 million tonnes grading 1.22 g/t 2PGE+Au (CLICK HERE for ValOre’s July 23, 2019 news release). All the currently known Pedra Branca inferred PGE resources are potentially open pittable.

On behalf of the Board of Directors,

“Jim Paterson”

James R. Paterson, Chairman and CEO

ValOre Metals Corp.

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

ValOre PGE Assays from Metallurgical Drilling at Pedra Branca Confirm Historical Drilling Averages in Curiu and Esbarro Zones Drill Hole DD21ES15C significantly exceeds previous results: 77 m at 2.95 g/t 2PGE+Au from surface, incl. 6.4 m at 16.92 g/t 2PGE+Au and 0.52 g/t Rh from 29.7 m

ValOre PGE Assays from Metallurgical Drilling at Pedra Branca Confirm Historical Drilling Averages in Curiu and Esbarro Zones
Drill Hole DD21ES15C significantly exceeds previous results: 77 m at 2.95 g/t 2PGE+Au from surface, incl. 6.4 m at 16.92 g/t 2PGE+Au and 0.52 g/t Rh from 29.7 m