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Exploration & Drilling

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

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

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”)

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 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.

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.

High-Grade PGE Discoveries: Massape and Santo Amaro South – Sept 1, 2021

Vancouver, B.C. ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today announced assay results for two chromitite reef outcrop samples, 25 Trado® auger holes and five trenches from the Massapê target area at ValOre’s 100%-owned Pedra Branca Platinum Group Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil. The high-grade Massapê discovery is situated approximately four kilometres (“km”) along trend to the north of the Trapia deposit area, which is included in ValOre’s global 2019 NI 43-101 Pedra Branca inferred resource of 1,067,000 ounces (“oz”) 2PGE+Au contained in 27.2 million tonnes (“Mt”) grading 1.22 g/t 2PGE+Au. CLICK HERE for a regional map of the Massapê target and Pedra Branca project (Figure 1).

“2021 exploration at Massapê indicates the presence of a near-surface PGE zone extending to the south of historical drilling, where palladium and platinum mineralization was encountered in 3 of 5 historical holes,” stated ValOre’s VP of Exploration, Colin Smith. “The discovery of correlative high-grade and chromitite reef outcrops within three broadly mineralized trenches south of historical drilling warrants 500 m of follow-up core drilling for Massapê as part of a 1000 metre expansion to the on-going program.”

Massapê Discovery Trenching, Trado® Auger Drilling and Rock Sampling Highlights:

  • High-grade PGE assay results from two chromitite reef outcrop samples:
    • 13.96 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”), and
    • 6.77 g/t 2PGE+Au;
  • These two high-grade PGE samples extend known PGE mineralization an additional 200 metres (“m”), creating a total Massapê target strike length of >800 m (remains open to south);
  • All 5 trenches* completed along the Massapê target trend in 2021 returned significant intervals of PGE mineralization, including:
    • 15 m at 1.65 g/t 2PGE+Au, incl. 6 m at 3.40 g/t 2PGE+Au
    • 54 m at 0.39 g/t 2PGE+Au, incl. 2 m at 1.14 g/t 2PGE+Au, and 9 m at 1.2 g/t 2PGE+Au
    • 28 m at 0.44 g/t 2PGE+Au;
  • Trado® auger drilling returned surface PGE assay results in 15 of 25 holes, with assay highlights including:
    • 3.5 m at 0.87 g/t 2PGE+Au from surface, including 1.5 m at 1.3 g/t 2PGE+Au from 2 m
    • 4 m at 0.59 g/t 2PGE+Au from surface, including 1 m at 1.84 g/t 2PGE+Au from 1 m
    • 11 m at 0.34 g/t 2PGE+Au from surface
    • 8 m at 0.36 g/t 2PGE+Au from surface;
  • Excellent exploration upside remains, with the currently defined >800-metre-long mineralized ultramafic (“UM”) trend fully open to the south, in the direction of improving in-situ PGE grades and strong magnetic signature;
  • Massapê target is drill-ready, with 500 m of core drilling planned for September as part of the planned 1000 metre expansion to the previously announced DDH program.

*Reported trench assay interval lengths are channel samples and estimated to represent 80-90% true width

Massapê Target 2021 Exploration: Trenching, Trado® Auger Drilling and Rock Sampling

Compilation and review of historical data from Massapê revealed considerable geochemical, geophysical, and geological similarities to the PGE deposits which comprise ValOre’s current NI 43-101 inferred resource, and consequently designated the target as high priority. The application of ValOre’s proven and effective systematic exploration methodology was deployed and served to rapidly advance Massapê to drill-ready stage (CLICK HERE for news release dated March 23, 2021; CLICK HERE for news release dated April 26, 2021; CLICK HERE for news release dated July 12, 2021; and CLICK HERE for news release dated August 23, 2021). Given the continued success of ValOre’s sequential exploration methodology, district-wide target generation and assessment has been being accelerated.

The Massapê target area is characterized by strong historical PGE-in-soil anomalies, high-grade historical and ValOre surface grab samples (including 13 samples >10 g/t 2PGE+Au over 800 m of geological trend), a compelling >1-km-long magnetic anomaly, strong local WorldView spectral signatures (CLICK HERE for additional information on WorldView spectral data), and PGE mineralization in 3 of 5 historical core drill holes.

ValOre conducted detailed geological mapping and prospecting of the 1 km-long trend and followed-up with 25 Trado® auger holes (122 m total, equating to 129 samples) and 5 trenches (216 m total). At-surface, PGE-bearing UM or UM-derived rocks were intercepted in 15 of 25 Trado® holes, and in all 5 trenches, confirming the presence of in-situ surface PGE mineralization along a geological trend of approximately 800 m. CLICK HERE for a plan map of the Massape target (Figure 2).

Trench channel sample assay highlights include multiple high-grade PGE results from the three southernmost trenches, including:

  • TR21MS05: 15 m at 1.65 g/t 2PGE+Au, including 6 m at 3.4 g/t 2PGE+Au;
  • TR21MS03: 54 m at 0.39 g/t 2PGE+Au, including 2 m at 1.14 g/t 2PGE+Au and 9 m at 1.2 g/t 2PGE+Au;
  • TR21MS04 : 28 m at 0.44 g/t 2PGE+Au.

CLICK HERE for detailed trench cross sections (Figures 3a, 3b, 3c) and see Table 1 below for a summary of significant assay results for all 5 trenches.

High-grade PGE assays (13.96 g/t 2PGE+Au and 6.77 g/t 2PGE+Au) were returned from two samples collected from correlative chromitite reefs exposed in trenches TR21MS04 and TR21MS05, extending known PGE mineralization for an additional 200 m to the south of the existing historical core drilling area. CLICK HERE for detailed sample photographs (Figure 4).

Trado® auger assay highlights include holes AD21MS19, which returned 3.5 m at 0.87 g/t 2PGE+Au from surface, including 1.5 m at 1.3 g/t 2PGE+Au from 2 m, and hole AD21MS14 which returned 11 m at 0.34 g/t 2PGE+Au from surface. See Table 1 below for a summary of significant Trado® assay results.

Table 1: Trado® Auger Drilling and Trenching Highlights

Hole ID Type From
(m)		 To
(m)		 Length*
(m)		 2PGE+Au
(g/t)		 2PGE+Au
Interval Summary
AD21MS03 Auger 0 2 2 0.19 2 m at 0.19 g/t 2PGE+Au from surface
AD21MS04 Auger 0 4 4 0.27 4 m at 0.27 g/t 2PGE+Au from surface
AD21MS07 Auger 0 2.4 2.4 0.16 2.4 m at 0.16 g/t 2PGE+Au from 1 m
AD21MS08 Auger 0 1 1 0.10 1 m at 0.1 g/t 2PGE+Au from surface
AD21MS11 Auger 0 1 1 0.14 1 m at 0.14 g/t 2PGE+Au from surface
AD21MS12 Auger 0 1 1 0.11 1 m at 0.11 g/t 2PGE+Au from surface
AD21MS13 Auger 0 2.5 2.5 0.19 2.5 m at 0.19 g/t 2PGE+Au from surface
AD21MS14 Auger 0 11 11 0.34 11 m at 0.34 g/t 2PGE+Au from surface
AD21MS15 Auger 0 12 12 0.19 12 m at 0.19 g/t 2PGE+Au from surface
AD21MS16 Auger 0 12 12 0.16 12 m at 0.16 g/t 2PGE+Au from surface
AD21MS17 Auger 0 8 8 0.36 8 m at 0.36 g/t 2PGE+Au from surface
AD21MS18 Auger 0 2 2 0.18 2 m at 0.18 g/t 2PGE+Au from surface
AD21MS19 Auger 0 3.5 3.5 0.87 3.5 m at 0.87 g/t 2PGE+Au from surface
incl. 1.5 m at 1.3 g/t 2PGE+Au from 2 m
2 3.5 1.5 1.30
AD21MS20 Auger 0 4 4 0.59 4 m at 0.59 g/t 2PGE+Au from surface
incl. 1 m at 1.84 g/t 2PGE+Au from 1 m
1 2 1 1.84
AD21MS24 Auger 0 13 13 0.25 13 m at 0.25 g/t 2PGE+Au from surface
TR21MS01 Trench 1 29 28 0.12 28.00m at 0.12 g/t 2PGE+Au
TR21MS02 Trench 3 5.1 2.1 0.57 2.1 m at 0.57 g/t 2PGE+Au
and 6 m at 0.20 g/t 2PGE+Au
17 23 6 0.20
TR21MS03 Trench 7 61 54 0.39 54.00m at 0.39 g/t 2PGE+Au
incl. 16.00m at 0.41 g/t 2PGE+Au
incl. 2.00m at 1.14 g/t 2PGE+Au
and 15.00m at 0.18 g/t 2PGE+Au
and 9.00m at 1.20 g/t 2PGE+Au
7 23 16 0.41
9 11 2 1.14
30 45 15 0.18
52 61 9 1.20
TR21MS04 Trench 5 33 28 0.44 28.00m at 0.44 g/t 2PGE+Au
TR21MS05 Trench 33 48 15 1.65 15.00m at 1.65 g/t 2PGE+Au
incl. 6.00m at 3.40 g/t 2PGE+Au
39 45 6 3.40

*Reported trench assay interval lengths are channel samples and estimated to represent 80-90% true width

About Trado® Auger Drilling and Trenching Methodology

Please CLICK HERE to view ValOre’s news release of March 23, 2021 for detailed information regarding Trado® auger drilling and trenching methodologies.

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 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.

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 a Reverse Circulation (“RC”) drilling discovery at ValOre’s 100%-owned Pedra Branca Platinum Group Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil.

“ValOre rapidly advanced the Santo Amaro South target to drill-ready stage by the implementation of systematic 2021 mapping, Trado® auger drilling and trenching,” stated ValOre’s VP of Exploration, Colin Smith. “RC drill hole RC21SAS03 confirms the presence of broad high-grade surface PGE mineralization at Santo Amaro South and further validates ValOre’s sequential exploration methodology, which has been re-initiated to expand upon the discovery hole.”

Highlights of Santo Amaro South RC Drilling Discovery:

  • Drill hole RC21SAS03*
    • 32 metres (“m”) grading 1.65 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”) from surface, incl. 6 m grading 3.07 g/t 2PGE+Au from 2.00 m;
  • Near-surface (15 m or less) PGE mineralization intersected in all five 2021 RC holes;
  • RC drill targets developed from 2021 Trado® auger drilling and trenching results (CLICK HERE for news release dated March 23, 2021), further validating ValOre’s systematic exploration methodology;
  • Excellent exploration upside characterized by a >1-kilometre (“km”) long ultramafic (“UM”) trend identified by geological mapping, and an 800 x 400 m PGE-in-soils and magnetic anomaly;
  • Follow-up Trado® auger drilling is on-going to further investigate the along-strike, near-surface extension of PGE mineralization, and subsequent diamond drilling is planned to expand upon the high-grade mineralization intersected in drill hole RC21SAS03.

*Reported assay interval lengths are core lengths, and are estimated to be 90-100% true width

Santo Amaro South Target and 2021 Exploration Summary

The Santo Amaro South (“SAS”) target is located in the northern project area, 1.5 km south of the Santo Amaro deposit, which is included in ValOre’s global 2019 NI 43-101 Pedra Branca inferred resource of 1,067,000 ounces (“oz”) 2PGE+Au in 27.2 million tonnes (“Mt”) grading 1.22 g/t 2PGE+Au. CLICK HERE for a regional map of Santo Amaro South target and Pedra Branca project (Figure 1).

As part of ValOre’s exploration methodology (CLICK HERE for news release dated July 12, 2021), SAS was identified as a highly prospective and underexplored target based on extensive historical soil and geophysical anomalies, and the presence of multi-class WorldView spectral signatures (CLICK HERE for additional information on WorldView spectral data). Detailed 2021 field mapping and prospecting defined a greater than 1-km-long belt of target UM rocks, associated with strong magnetic and geochemical anomalism.

Systematic Trado® auger drilling was performed along-trend, with 19 vertical holes (71 total samples), confirming the presence target UM rocks and continuity of surface PGE mineralization. Five linear east-west trenches (398 m total) were subsequently excavated, with channel sample assays confirming surface in-situ PGE mineralization in 4 out of the 5 trenches (CLICK HERE for news release dated March 23, 2021).

Trado® hole logging, trench mapping, and subsequent assay results served to define multiple un-drilled, north-south-trending mineralized UM packages which exceeded 400 m in length and remain open along both directions of geological trend. CLICK HERE for a plan map of the SAS target (Figure 2).

SAS was tested with five 2021 vertical RC drill holes (totaling 282 m), with all 5 holes returning PGE-mineralized assays over a geological trend of 400 m. A broad, surface PGE discovery was made in RC drill hole RC21SAS03, which assayed 32 m grading 1.65 g/t 2PGE+Au from surface, including 6 m grading 3.07 g/t 2PGE+Au from 2 m. Table 1 below summarizes highlight intervals from 2021 RC drilling at SAS. CLICK HERE for a cross section of drill hole RC21SAS03 (Figure 3).

Table 1: Santo Amaro South RC Drilling Highlights

Hole ID From
(m)		 To
(m)		 Length*
(m)		 2PGE+Au
(g/t)		 2PGE+Au
Interval Summary
RC21SAS01 0 11 11 0.21 11 m grading 0.21 g/t 2PGE+Au from surface
RC21SAS01A 6 22 16 0.26 16 m grading 0.26 g/t 2PGE+Au from 6 m
RC21SAS02 14 21 7 0.20 7 m grading 0.20 g/t 2PGE+Au from 14 m
and 19 m grading 0.23 g/t 2PGE+Au from 60 m
60 79 19 0.23
RC21SAS03 0 32 32 1.65 32 m grading 1.65 g/t 2PGE+Au from surface
incl. 6 m grading 3.07 g/t 2PGE+Au from 2 m
and 2 m grading 2.08 g/t 2PGE+Au from 23 m
2 8 6 3.07
23 25 2 2.08
RC21SAS04 6 19 13 0.15 13 m grading 0.15 g/t 2PGE+Au from 6 m
 

* Reported assay interval lengths are core lengths, and are estimated to be 90-100% true width

On-Going Exploration, Santo Amaro South

Additional Trado® auger drilling is on-going to follow-up the best Trado® and RC assays to date and to further investigate the near-surface continuity of PGE mineralization along strike. Subsequent diamond drilling is planned to expand upon the high-grade mineralization intersected in drill hole RC21SAS03.

RC Drilling and Sampling Methodology

RC drill holes are drilled in 3-metre-long by 4.5-inch diameter run lengths. One large sample is collected every metre, dried out by the cyclone, and deposited directly into previously labeled plastic sample bags. If the material is dry, the cyclone is cleaned every 3 metres with pressurized air. If humid or wet, the cyclone is cleaned at every metre. Each sample is weighed at the drill site, with an average of 20-30 kilograms (“kg”) per obtained sample (for 100% recovery). A representative sample is collected, sieved, and washed to remove excess dust. This sample is then deposited into a plastic chip case for logging procedures and future reference. Magnetic susceptibility measurements are taken at the drill site for each metre-long interval. The large samples collected from the cyclone are transported to a secure sampling and splitting facility in Capitão Mor. Each sample goes into a Jones Riffle Splitter, and 2 aliquots of approximately 2 kg, and minimum of 500 grams (“g”), are collected into two new sample bags. One sample is retained at site as archive, and the other is submitted for assay. The splitter is cleaned before the splitting of every new sample in a two-step procedure: (1) initially and manually with a paint brush; and (2) thereafter with pressurized air. The residual volume of each sample material is discarded. A strict Quality Control/Quality Assurance (“QA/QC”) program is applied to all samples, which included insertion of certified mineralized standards, blank samples and duplicates in every batch sent for assays.

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 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 estimated 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 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.

New Tenements: Galante East & NE Trend – July 29, 2021

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

“ValOre’s highly effective exploration methodology serves to rapidly evaluate and advance targets to a   drill-ready stage, utilizing 3D inversion of aeromagnetic and ground magnetic data, WorldView spectral imagery, and radiometrics, followed by geological mapping and prospecting to identify prospective regional ultramafic trends, systematic Trado® auger drilling to establish near-surface geological continuity, trenching to confirm the presence of in-situ PGE mineralization, and RC (and/or core) drilling to test at depth and along trend,” stated ValOre’s VP of Exploration, Colin Smith. “This systematic framework will be applied throughout the 55,984-hectare tenements to efficiently advance prospective historical targets and assess untested WorldView-magnetic anomalies.”

2021 Discovery Pipeline Exploration Highlights:

  • Trapia South Discovery – Reverse Circulation (“RC”) drilling discovery at the previously undrilled Trapia South target, located 1.5 kilometres (“km”) southwest and on trend from Trapia 1, with PGE-mineralized ultramafic (“UM”) rocks intercepted at or near surface in 3 of 3 RC drill holes, including:
    • Drill hole RC21TS02: 21.00 metres (“m”) grading 0.72 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”) from surface, including 3.00 m grading 1.57 g/t 2PGE+Au, 0.21% Cu, 0.78% Ni from 11.00 m
    • Drill hole RC21TS03: 8.00 m grading 0.89 g/t 2PGE+Au, 0.14% Cu, 0.55% Ni from 3.00 m;
  • Esbarro NW – RC drilling at Esbarro NW confirms presence of surface PGE mineralization within 200 metres of northwestern boundary of existing Esbarro inferred resource, with 5 of 9 RC drill holes returning near-surface PGE mineralization over a geological trend of 250 m, including the following assay highlights:
    • Drill hole RC21ES01: 10 m grading 1.69 g/t 2PGE+Au from surface
    • Drill hole RC21ES08: 8 m grading 1.22 g/t 2PGE+Au from surface;
  • Santo Amaro South – RC drilling at Santo Amaro South target, located 1.5 km to the south of Santo Amaro inferred resource, intercepted significant at or near-surface intervals of target UM rocks in all 5 holes, including (assays pending):
    • Drill hole RC21SAS01: surface to 24 m
    • Drill hole RC21SAS01A: surface to 22 m
    • Drill hole RC21SAS02: surface to 30 m and 43 to 80 m
    • Drill hole RC21SAS03: surface to 32 m
    • Drill hole RC21SAS04: 6 to 9 m;
  • Massape – pipeline target situated ~4 km north of Trapia, tested with 19 Trado® auger holes (93 m) and 5 trenches (216 m), with all assays pending:
    • Target UMs encountered in 8 Trado® holes (59 of the 93 m augered) and all 5 trenches, over geological trend of approximately 600 m
    • Subsequent core drilling to be evaluated pending receipt and review of assay results;
  • A total of 38 RC drill holes (1,828 m) have been drilled in 2021, with assay results received for 22 holes;
  • A total of 113 Trado® auger holes have been drilled in 2021, with assay results received for 92 holes;
  • District-wide target generation ongoing via WorldView spectral data and magnetics, with target evaluation accelerated by systematic exploration methodology – to be applied throughout the 16,000 hectares (“ha”) of new tenements acquired by ValOre earlier this month.

2021 Target Pipeline Summary

ValOre is rapidly advancing the district-scale target pipeline at Pedra Branca with the implementation of a highly effective combination of sequential evaluative exploration techniques. Following up on regional geophysics and WorldView studies, preliminary geological mapping and prospecting is employed to identify and confirm the presence of prospective regional UM trends. Once established, systematic Trado® auger drilling is conducted to demarcate geological continuity, and test for near-surface PGE mineralization. Upon receipt and review of Trado® assay data, targets are evaluated by trenching (channel sampling) and/or RC drilling to confirm the presence of in-situ PGE mineralization along trend and at depth.

Trapia South Discovery

This methodology has led to a RC drilling discovery of the previously undrilled Trapia South target, situated 2 km southwest and along geological trend to the Trapia 1 PGE deposit. Trapia South is characterized by a strong 0.5 km by 0.5 km magnetic anomaly, deposit-signature historical PGE-in-soil anomaly, and multiple grab samples collected from the magnetic high >1.0 g/t 2PGE+Au (high of 2.3 g/t 2PGE+Au). Geological mapping confirmed the presence of extensive contiguous UMs at surface, and the target was tested with three initial RC drill holes. All three holes intercepted PGE-mineralized UMs, with assay highlights of 21.00 m grading 0.73 g/t 2PGE+Au from surface, including 3.00 m grading 1.57 g/t 2PGE+Au, 0.21% Cu, 0.78% Ni from 11.00 m (RC hole RC21TS02), and 8.00 m grading 0.88 g/t 2PGE+Au, 0.14% Cu, 0.55% Ni from 3.00 m (RC hole RC21TS03). ValOre’s recent acquisition of new tenements strategically encompasses the newly discovered Trapia South target area (CLICK HERE for news release dated July 6, 2021). See Table 1 below for a full list of PGE-mineralized RC intervals, and CLICK HERE for a map of Trapia South (Figure 1).

Esbarro NW

Situated within 200 m of the Esbarro pit-constrained resource area (9.9 Mt grading 1.23 g/t 2PGE+Au, totaling 394,000 ounces), Esbarro NW exploration was initiated with a 2021 soil sampling campaign which served to delineate a 600 m-long PGE-in-soils anomaly, a vertical test pit channel sample (surface to 6.50 m grading 2.17 g/t 2PGE+Au, including 2.0 m grading 5.19 g/t 2PGE+Au from 4.50 m), and a 19-hole Trado® auger follow-up program, where 17 of 19 Trado® auger holes intercepted PGE-bearing ultramafic rocks, including hole AD21ES03 which returned 12.0 m grading 1.73 g/t 2PGE+Au from surface. (CLICK HERE for news release dated April 26, 2021).

Esbarro NW was subsequently tested with vertical 9 vertical RC drill holes (191 m), with 5 holes returning mineralized PGE assays over a geological trend of 250 m. Assay highlights include 10.00 m grading 1.69 g/t 2PGE+Au from 0.00 m (RD21ES01), 8.00 m grading 1.22 g/t 2PGE+Au from surface (RC21ES09) and 5.00 m grading 0.97 g/t 2PGE+Au from surface (RC21ES05). See Table 1 below for a full list of PGE-mineralized RC intervals, and CLICK HERE for a map of Esbarro NW (Figure 2).

Massape

Massape is a pipeline target situated approximately 5 km north of Trapia, characterized by strong historical PGE-in-soil anomalies, high-grade historical and ValOre surface rock grab samples (11 samples >10 g/t 2PGE+Au over 500 m of geological trend), compelling >1 km-long magnetic highs, and PGE mineralization in 3 of 5 historical drill holes.

ValOre conducted detailed geological mapping and prospecting throughout the 1 km-long anomalous trend and followed up with 19 Trado® auger holes (93 m) and 5 trenches (216 m). Target UMs were encountered in 8 Trado® holes (59 of the 93 m), and all 5 trenches, over a geological trend of approximately 600 m. Subsequent core drilling will be evaluated pending receipt and review of the assay results. CLICK HERE for a map of Massape (Figure 3).

Table 1: Summary of Significant 2021 RC Drilling, Trado® Auger, and Channel Sampling Results

Target Sample
Type		 Sample
ID		 From
(m)		 To
(m)		 Length
(m)		 2PGE+Au
(g/t)		 2PGE+Au
Interval Summary
Esbarro NW RC Drilling RC21ES01 0.00 10.00 10.00 1.69 10.00m grading 1.69 g/t 2PGE+Au from surface
Esbarro NW RC Drilling RC21ES05 0.00 5.00 5.00 0.97 5.00m grading 0.97 g/t 2PGE+Au from surface
Esbarro NW RC Drilling RC21ES06 0.00 1.00 1.00 0.44 1.00m grading 0.44 g/t 2PGE+Au from surface
Esbarro NW RC Drilling RC21ES07 0.00 4.00 4.00 0.41 4.00m grading 0.41 g/t 2PGE+Au from surface
Esbarro NW RC Drilling RC21ES09 0.00 8.00 8.00 1.22 8.00m grading 1.22 g/t 2PGE+Au from surface
Trapia South RC Drilling RC21TS02 0.00 22.00 22.00 0.72 22.00m grading 0.72 g/t 2PGE+Au from surface
incl. 3.00m grading 1.57 g/t 2PGE+Au from 11.00m
11.00 14.00 3.00 1.57
Trapia South RC Drilling RC21TS03 3.00 11.00 8.00 0.89 8.00m grading 0.89 g/t 2PGE+Au from 3.00m
Trapia 1 RC Drilling RC21TU01 0.00 59.00 59.00 0.80 59.00m grading 0.80 g/t 2PGE+Au from surface
incl. 5.00m grading 1.36 g/t 2PGE+Au from 18.00m
and 12.00m grading 1.23 g/t 2PGE+Au from 35.00m
18.00 23.00 5.00 1.36
35.00 47.00 12.00 1.23
Trapia 2 RC Drilling RC21TD01 0.00 57.00 57.00 0.45 57.00m grading 0.45 g/t 2PGE+Au from surface
Esbarro NW Channel PT21ES01 0.00 6.50 6.50 2.17 6.5 m grading 2.17 g/t 2PGE+Au from surface
Esbarro NW Channel PT21ES01 4.50 6.50 2.00 5.16 2.0 m grading 5.16 g/t 2PGE+Au from 4.50 m
Esbarro NW Trado® AD21ES02 0.00 5.00 5.00 0.63 5.0 m grading 0.63 g/t 2PGE+Au from surface
Esbarro NW Trado® AD21ES03 0.00 12.00 12.00 1.73 12.0 m grading 1.73 g/t 2PGE+Au from surface
Esbarro NW Trado® AD21ES03 0.00 2.00 2.00 2.90 2.0 m grading 2.90 g/t 2PGE+Au from surface
Esbarro NW Trado® AD21ES03 8.00 10.00 2.00 3.36 2.0 m grading 3.36 g/t 2PGE+Au from 8 m
Esbarro NW Trado® AD21ES04 0.00 2.00 2.00 0.33 1.95 m grading 0.33 g/t 2PGE+Au from surface
Esbarro NW Trado® AD21ES04A 0.00 4.00 4.00 1.12 4.0 m grading 1.12 g/t 2PGE+Au from surface
Esbarro NW Trado® AD21ES05 0.00 1.60 1.60 0.30 1.6 m grading 0.30 g/t 2PGE+Au from surface
Esbarro NW Trado® AD21ES06 0.00 2.70 2.70 0.23 2.7 m grading 0.23 g/t 2PGE+Au from surface
Esbarro NW Trado® AD21ES07 0.00 2.00 2.00 0.54 1.95 m grading 0.54 g/t 2PGE+Au from surface
Esbarro NW Trado® AD21ES08 0.00 9.00 9.00 2.09 9.0 m grading 2.09 g/t 2PGE+Au from surface
Esbarro NW Trado® AD21ES09 0.00 2.00 2.00 0.42 2.0 m grading 0.42 g/t 2PGE+Au from surface
Esbarro NW Trado® AD21ES10 0.00 2.00 2.00 0.35 2.0 m grading 0.35 g/t 2PGE+Au from surface
Esbarro NW Trado® AD21ES11 0.00 2.00 2.00 0.45 1.95 m grading 0.45 g/t 2PGE+Au from surface
Esbarro NW Trado® AD21ES12 0.00 1.00 1.00 0.78 1.0 m grading 0.78 g/t 2PGE+Au from surface
Esbarro NW Trado® AD21ES14 1.00 2.00 1.00 0.27 1.0 m grading 0.27 g/t 2PGE+Au from 1 m
Esbarro NW Trado® AD21ES17 0.00 4.00 4.00 0.68 4.0 m grading 0.68 g/t 2PGE+Au from surface
Esbarro NW Trado® AD21ES18 0.00 1.90 1.90 0.19 1.85 m grading 0.19 g/t 2PGE+Au from surface
Cana Brava Trado® AD21CB03 0.00 5.00 5.00 0.24 5.00 m grading 0.24 g/t 2PGE+Au from surface
Cana Brava Trado® AD21CB04 0.00 2.00 2.00 0.16 2.00 m grading 0.16 g/t 2PGE+Au from surface
Cana Brava Trado® AD21CB05 0.00 1.00 1.00 0.11 1.00 m grading 0.11 g/t 2PGE+Au from surface
Cana Brava Trado® AD21CB06 0.00 2.30 2.30 0.12 2.30 m grading 0.12 g/t 2PGE+Au from surface
Cana Brava Trado® AD21CB08 0.00 2.60 2.60 0.23 2.60 m grading 0.23 g/t 2PGE+Au from surface
Cana Brava Trado® AD21CB09 0.00 2.50 2.50 0.48 2.50 m grading 0.48 g/t 2PGE+Au from surface
Cana Brava Trado® AD21CB13 3.00 5.70 2.70 0.19 2.70 m grading 0.19 g/t 2PGE+Au from 3 m
Cana Brava Trado® AD21CB20 2.00 3.00 1.00 0.53 1.0 m grading 0.53 g/t 2PGE+Au from 2 m
Trapia 2 Trado® AD21TD03 0.00 2.00 2.00 0.31 2.0 m grading 0.31 g/t 2PGE+Au from surface
Trapia 2 Trado® AD21TD04 0.00 1.00 1.00 0.13 1.0 m grading 0.13 g/t 2PGE+Au from surface
Trapia 2 Trado® AD21TD05 0.00 1.00 1.00 0.14 1.0 m grading 0.14 g/t 2PGE+Au from surface
Massape Trado® AD21MS03 0.00 2.00 2.00 0.19 2.0 m grading 0.19 g/t 2PGE+Au from surface
Massape Trado® AD21MS04 0.00 4.00 4.00 0.27 4.0 m grading 0.27 g/t 2PGE+Au from surface

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 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.

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 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 announced additional Platinum Group Element (“PGE”, “2PGE+Au”) assay results from the ongoing 8,000-metre (“m”) drill program at ValOre’s 100%-owned Pedra Branca PGE Project (“Pedra Branca”) in northeastern Brazil.

“ValOre’s core drilling at Trapia 1 in 2020 and 2021 has been a great success, with 90% of holes drilled (18 of 20) returning consistent PGE grade and continuity of mineralization outside of the previously defined area hosting the 2019 NI 43-101 inferred resource,” stated ValOre’s VP of Exploration, Colin Smith. “Given the compelling assay results received to date, we will return both core rigs to Trapia 1 following the completion of six holes at Trapia 2, for additional resource expansion drilling.”

PGE assay highlights for the additional core holes drilled at the Trapia 1 target:

  • Drill hole DD21TU25*
    • 57.35 m grading 1.00 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”) from 238.15 m
      incl. 19.53 m grading 2.18 g/t 2PGE+Au from 270.00 m
      and 12.50 m grading 0.69 g/t 2PGE+Au, 0.21% Cu, 0.40% Ni from 283.00 m;
  • Drill hole DD21TU27*
    • 23.30 m grading 1.01 g/t 2PGE+Au from 185.00 m;
  • Drill hole DD21TU26*
    • 15.38 m grading 0.61 g/t 2PGE+Au from 140.62 m;
  • Both rigs will return to Trapia 1 for priority follow-up drilling following the completion of six planned core holes at the Trapia 2 target, ~2 kilometres (“km”) northwest of Trapia 1, where the target ultramafic (“UM”) intrusion has been intercepted in 4 of 5 core drill holes to date, with the final hole in progress;
  • Upon completion of Trapia 1 drilling both core rigs will move to the Santo Amaro target (~35 km to the northeast), commencing a planned 2000 m of drilling in twelve holes.

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

Additional 2021 Trapia 1 Drilling Results

ValOre has received assay results for four additional core holes drilled during the first phase of 2021 drilling at Trapia 1. A total of 1,885 m in eight core holes were drilled, with the target host UM intercepted in six of the eight holes. Assays for the first three holes were released on June 30, 2020 (CLICK HERE), and included 71.90 m grading 1.29 g/t 2PGE+Au, and 59.20 m grading 1.09 g/t 2PGE+Au in holes DD21TU21 and DD21TU22, respectively.

The PGE mineralized UM sequence was intercepted in three of the four holes reported herein, and mineralization remains open at depth and along strike. Ultramafic lithologies are dominated by alternating chromitite-bearing peridotites, dunites, with local serpentinites and schists, with decimetre to metre-scale chromitite reef horizons which are typical of high-grade PGEs (>10 g/t 2PGE+Au).

CLICK HERE for more information regarding the 2021 exploration program at Pedra Branca, CLICK HERE for a regional map of 2021 drill targets (Figure 1), CLICK HERE for a plan map of Trapia 1 drilling (Figure 2), and see Table 1 below for a summary of significant core assay results reported herein.

Drill hole DD21TU25

Core drill hole DD21TU25 stepped out 100 m southeast from 2020 drill hole DD20TU13, which graded 61.85 m at 0.81 g/t 2PGE+Au from 217.15, including 2.45 m at 9.42 g/t 2PGE+Au from 221.20 m. The main UM sequence was intercepted from 238.30 to 297.65 m (59.53 m in thickness). Chromitite-bearing peridotites, dunites and local serpentinites dominated the target UM package, with localized decimetric chromitite reefs. The basal portion of the intrusion hosted localized rich sulphide mineralization, including pyrrhotite, chalcopyrite, and pyrite.

This hole returned an assay highlight of 57.35 m grading 1.00 g/t 2PGE+Au from 238.15 m, including 12.00 m grading 3.07 g/t 2PGE+Au from 270.00 m and 12.50 m grading 0.69 g/t 2PGE+Au, 0.21% Cu, 0.40% Ni from 283.00 m. CLICK HERE for a cross section of DD21TU25 (Figure 3).

Drill hole DD21TU27

Drill hole DD21TU27 was a vertical hole from the same location as DD21TU25, to further test the extension of PGE mineralization at depth and validate an interpreted shallowing of the overall geological package to the east of 2020 drilling. The target UM intrusion was intercepted from 183.50 to 208.30 m hole depth (24.80 m in thickness), dominated by chromitite-bearing peridotites, dunites and local serpentinites dominated the sequence, with localized chromitite-rich intervals. Drill hole DD21TU27 corroborated the interpretation of a shallowing mineralized package to the east, with the upper main UM contact occurring ~27 m up-section from drill hole DD21TU25.

The hole returned an assay highlight of 23.30 m grading 1.01 g/t 2PGE+Au from 185.00 m, including 5.95 m grading 1.79 g/t 2PGE+Au from 193.05 m and 2.00 m grading 2.92 g/t 2PGE+Au from 195.15 m. CLICK HERE for a cross section of DD21TU27 (Figure 3).

Drill hole DD21TU26

Drill hole DD21TU26 stepped out 80 m to the northeast from 2021 drill hole DD20TU21, which graded 71.90 m grading 1.29 g/t 2PGE+Au from 134.95 m, including 1.55 m grading 10.82 g/t 2PGE+Au from 167.75 m. The target UM was intercepted for 21.50 m from 141.50 to 163.00 m depth, characterized by serpentinized pyroxenites, chromitite-bearing peridotites, dunites and local serpentinites.

The hole returned an assay highlight of 15.38 m grading 0.61 g/t 2PGE+Au from 140.62 m (~120 vertical depth). CLICK HERE for a cross section of DD21TU26 (Figure 4).

Drill hole DD21TU28

Drill hole DD21TU28 stepped out 160 m west of 2020 drilling south of the Trapia 1 resource area, to the same location as historical drill hole DD07TU07, which intersected 49.33 m of barren UM rocks from 18.10 m depth. It was interpreted that these non-mineralized UMs represented the up-section (barren) “Marker Unit”, and that the main PGE-bearing host intrusion remained present at depth (CLICK HERE for news release dated December 1, 2020, explaining the Marker Unit UM).

The hole transected 45.92 m of barren Marker Unit UMs (amphibole schists and pyroxenites) from 17.28 m hole depth and entered a typical footwall gneiss at the inferred target depth.

Table 1: Summary of Additional Significant Core Assay Results from 2021 Drilling at Trapia 1

Hole ID From
(m)		 To
(m)		 Length
(m)		 Au
(g/t)		 Pd
(g/t)		 Pt
(g/t)

2PGE+Au

(g/t)

 Summary
DD21TU25 238.15 295.50 57.35 0.09 0.56 0.35 1.00 57.35 m @ 1.00 g/t 2PGE+Au from 238.15 m
incl. 19.53 m @ 2.18 g/t 2PGE+Au from 270.00 m
incl. 12.00 m @ 3.07 g/t 2PGE+Au from 270.00 m
incl. 4.00 m @ 6.07 g/t 2PGE+Au from 270.00 m
and 12.50 m @ 0.69 g/t 2PGE+Au, 0.21% Cu, 0.40% Ni from 283.00 m
270.00 289.53 19.53 0.17 1.22 0.79 2.18
270.00 282.00 12.00 0.04 1.84 1.19 3.07
270.00 274.00 4.00 0.07 3.62 2.38 6.07
283.00 295.50 12.50 0.29 0.25 0.15 0.69
DD21TU26 140.62 156.00 15.38 0.01 0.38 0.22 0.61 15.38 m @ 0.61 g/t 2PGE+Au from 140.62 m
DD21TU27 185.00 208.30 23.30 0.03 0.74 0.23 1.01 23.30 m @ 1.01 g/t 2PGE+Au from 185.00 m
incl. 5.95 m @ 1.79 g/t 2PGE+Au from 193.05 m
and 2.00 m @ 2.92 g/t 2PGE+Au from 195.15 m
193.05 199.00 5.95 0.10 1.48 0.21 1.79
195.15 197.15 2.00 0.09 2.54 0.30 2.92
 

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

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 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.

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 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 announced the acquisition of new tenements at ValOre’s 100%-owned Pedra Branca Platinum Group Element (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil.

“The ground acquired by ValOre in the June 2021 ANM bid holds district-scale potential to host multiple significant PGE deposits, and effectively secures the most unexplored trend of prospective geology at Pedra Branca” stated ValOre’s VP of Exploration, Colin Smith. “We plan to rapidly advance the development of our target pipeline with the acquisition of WorldView spectral data, extension of ground or droneborne magnetics, and regional geological mapping, prospecting and sampling.”

Highlights of Newly Acquired Ground at Pedra Branca:

  • Twelve claims totaling 16,000 hectares (“ha”) acquired through an Agência Nacional de Mineração (“ANM”) bid process conducted during June 2021;
  • Acquisition of over 50 kilometres (“km”) of underexplored, undrilled, geological trend highly prospective for PGE discovery;
  • Compelling data from historic exploration work, including untested soil anomalies, high grade grab samples, and coincident favorable geophysical signatures;
  • Excellent existing network of well-maintained access roads and power supply throughout the expanded land position;
  • First phase of exploration in preparation, including: WorldView spectral data, ground or droneborne magnetics, regional geological mapping and prospecting.

Pedra Branca Land Acquisition Summary

ValOre has significantly added (29% increase in total hectares) to the district-scale land position in Brazil by acquiring 12 new claims (16,000 ha) through the June 2021 ANM bid process. The new ground covers over 50 km of untested prospective geological trend associated with the Paleoproterozoic mafic to ultramafic Troia Unit, which serves as the host belt for Pedra Branca’s PGE-bearing layered ultramafic sequence. The potential is further supported by compelling historical geochemistry and geophysics, with excellent existing road access and power supply throughout. CLICK HERE for a location map of the updated Pedra Branca land position (Figure 1).

The first phase of exploration (“Phase 1”) will include the acquisition of new WorldView spectral data (“WorldView”) and extension of ground or droneborne magnetics, in conjunction with regional geological mapping and prospecting at prospective historical geochemical and geophysical anomalies. ValOre will implement the proven and effective targeting methodology which pairs WorldView and magnetics – an approach which led to the 2020 drilling discovery at the C-04 target, which graded up to 7.95 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”) at surface and returned 2PGE+Au mineralization in all three 2020 core drill holes. CLICK HERE for ValOre’s news release dated December 4, 2019, and CLICK HERE for ValOre’s news release dated October 27, 2020.

ValOre will immediately follow up high-priority target areas defined in Phase 1 with geochemical sampling, Trado® auger drilling and trenching, with the goal of advancing multiple targets to drill-ready stage.

Northeast Regional Trend

The Northeast Regional Trend (“NRT”) comprises a contiguous group of 7 claims situated in the southeast region of Pedra Branca. The NRT strategically covers over 37 km of highly underexplored Troia Unit, tested by only 2 shallow historical drill holes, undrilled historical PGE-in-soil anomalies and high-grade rock samples spanning the entire belt length, and prospective historical geophysical anomalies (magnetic high situated within radiometric lows).

Galante North and Galante East

Galante North and East (“Galante”) are two claims situated 5 and 7 km respectively south-southeast and along-trend of the Santo Amaro target area, which hosts the NI 43-101 Santo Amaro deposit inferred resource of 203,000 ounces (“oz”) 2PGE+Au contained in 5.3 million tonnes (“Mt”) grading 1.19 g/t 2PGE+Au, and the Santo Amaro South target (2021 RC drill target). Galante East hosts the some of the most compelling undrilled historical geochemical anomalies at Pedra Branca, with three distinct PGE-in-soil anomalies over 2.5 km, and historical grab samples up to 18.9 g/t 2PGE+Au. The anomalies are coincident with multiple magnetic highs along-trend.

Trapia South Extension

The Trapia South Extension is a single claim situated adjacent to the southwest corner of the Trapia West deposit and hosts the western third of Trapia South (2021 RC drill target). The ground hosts multiple unexplored WorldView-mag targets, and strong expansion potential along-strike from the Trapia West PGE deposit.

Mendes North Extension

The Mendes North Extension is a single claim located due north of the Mendes North target area (CLICK HERE for news release dates March 30, 2020 and CLICK HERE for news release dated July 7, 2020). The ground hosts an extension to the magnetic anomaly and prospective geological trend associated with Mendes North Target 3.

Pitombeiras Southwest

The Pitombeiras Southwest is a single claim situated 4 km south-southwest of Jangada Mines PLC (“Jangada”) Pitombeiras Vanadium Project, which hosts a 2021 NI 43-101 Measured & Indicated Resource of 5.10 Mt at 0.46% V2O5, 9.04% TiO2 and 46.06% of Fe2O3, Inferred Resource of 2.33 Mt at 0.41% V2O5, 8.26% TiO2 and 43.18% of Fe2O3, and a 2021 preliminary economic assessment (“PEA”) report. ValOre’s claim hosts the potential for analogous mineral systems and encompasses a 9 km long undrilled magnetic anomaly.

ANM Bid Process

On January 19, 2020, the ANM announced the new procedures to apply for areas available for exploration to facilitate a faster and more transparent process in Brazil.

The ANM releases many areas for bid throughout Brazil in two stages:

  1. Prior Public Offering: parties select and submit claims from those released by the ANM within 60 days from the release date. Thereafter, ANM will adopt the following procedures:
    1. Areas in which there were no expressions of interest will be considered free ground available for staking
    2. When there is only one interested party, the participant has the opportunity to acquire the claim
    3. When there is more than one interested party, an electronic auction must be carried out;
  2. Electronic Auction: the multiple parties who expressed interest for the same claim must submit anonymous electronic bid, and the rights to the claim is awarded to the highest bidder. This is the stage at which ValOre acquired the new tenements described herein.

About WorldView Spectra 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)

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 51 exploration licenses covering a total area of 55,984 ha (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.

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 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 announced initial Platinum Group Element (“PGE”, “2PGE+Au”) assay results from the ongoing 8,000-metre (“m”) drill program at ValOre’s 100%-owned Pedra Branca PGE Project (“Pedra Branca”) in northeastern Brazil.

“ValOre’s drilling at Trapia 1 continues to produce significant, broad intercepts of PGE mineralization at or above average resource grade, with 2020-2021 drilling more than doubling both the strike and depth extent of known mineralization, which remains open in most directions,” stated ValOre’s VP of Exploration, Colin Smith. “When comparing the gram*metre values of the 33 total holes drilled at Trapia 1 to date, with 15 historical and 18 by ValOre, ValOre has produced 15 of the best 25, including 6 of the best 8 drill holes, all of which sit entirely outside of the existing NI 43-101 defined resource area.”

PGE assay highlights for the first three core holes drilled at the Trapia 1 target:

  • Drill hole DD21TU21*
    • 71.90 m grading 1.29 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”) from 134.95 m
      incl. 1.55 m grading 10.82 g/t 2PGE+Au from 167.75 m;
  • Drill hole DD21TU22*
    • 59.20 m grading 1.09 g/t 2PGE+Au from 172.80 m
      incl. 1.25 m grading 15.11 g/t 2PGE+Au from 201.60 m;
  • Drill hole DD21TU23*
    • 49.75 m grading 0.66 g/t 2PGE+Au from 208.10 m
  • Target ultramafic (“UM”) intrusion encountered in six of eight 2021 core holes drilled to date;
  • Assays pending for the final four holes (DD21TU25-28);
  • 1,885 m drilled in total at Trapia 1 in 2021;
  • Follow-up drilling at Trapia 1 to be planned following receipt and review of remaining assays;
  • Both core rigs have moved to the Trapia 2 target (~2 km to the northwest), commencing a planned 960 m of drilling in six holes.

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

Initial 2021 Trapia 1 Drilling Results

ValOre has drilled eight core drill holes (1,885 m) at Trapia 1 thus far in 2021, with the target host UM intrusion intercepted in six of the eight holes. Assays are pending for the four holes not reported herein, and subsequent follow-up drilling is to be planned upon receipt and review of the remaining assays.

The mineralized UM sequence is characterized by alternating chromitite-bearing peridotites, dunites, with local serpentinites and schists, with decimetre to metre-scale chromitite reef horizons which are typical of high-grade PGEs (>10 g/t 2PGE+Au). An upper-UM-contact chromitite reef horizon was drilled in the first three 2021 holes at Trapia 1, and the reef correlates well with the high-grade chromitite intersected in 2020 drill hole DD20TU13 (2.45 m at 9.42 g/t 2PGE+Au). While no UMs were encountered in drill hole DD21TU24 (the most easterly drill hole, 100 m down-dip of DD21TU21), mineralization is open down-dip and along strike of all remaining 2021 drill holes.

CLICK HERE for more information regarding the 2021 exploration program at Pedra Branca, CLICK HERE for a regional map of 2021 drill targets (Figure 1), CLICK HERE for a plan map of Trapia 1 drilling (Figure 2), CLICK HERE for a summary cross section of ValOre’s resource expansion drilling to date at Trapia 1 (Figure 3), and see Table 1 below for a summary of significant core assay results reported herein.

Drill hole DD21TU21

Core drill hole DD21TU21 stepped out 100 m down-dip to the east from 2020 drill hole DD20TU12, which graded 100.42 m at 0.76 g/t 2PGE+Au from 93.15 m. Two separate chromitite reef horizons were observed within the broader 75.70 m UM interval which started at 134.95 m hole depth (~117 m vertical depth). Chromitite-bearing peridotites, dunites and local serpentinites dominated the target UM package.

This hole returned an assay highlight of 71.90 m grading 1.29 g/t 2PGE+Au from 134.95 m, including 23.00 m grading 2.51 g/t 2PGE+Au from 160.00 m, and 1.55 m grading 10.82 g/t 2PGE+Au from 167.75 m. CLICK HERE for a cross section of DD21TU21 and associated up- and down-dip drill holes (Figure 4).

Drill hole DD21TU22

Drill hole DD21TU22 stepped out 100 m down-dip to the east from 2020 drill hole DD20TU20, which graded 76.74 m at 1.25 g/t 2PGE+Au from 176.81 m, including 30.55 m at 2.33 g/t 2PGE+Au from 223.00 m. The target UM intrusion was intercepted for 73.10 m in DD21TU22, from a down-hole depth of 172.80 m (~149 m vertical), with three separate chromitite reef horizons encountered within the UM package, including a 1.25 m reef at 201.60 (~174 m vertical depth). Chromitite-bearing peridotites, dunites and local serpentinites dominated the sequence.

The hole returned an assay highlight of 59.20 m grading 1.09 g/t 2PGE+Au from 172.80 m, including 7.45 m grading 2.48 g/t 2PGE+Au from 175.80 m, and 1.25 m grading 15.11 g/t 2PGE+Au from 201.60 m. CLICK HERE for a cross section of DD21TU22 and associated up-dip drill holes (Figure 5).

Drill hole DD21TU23

Drill hole DD21TU23 stepped out 100 m down-dip to the east from 2020 drill hole DD20TU13, which graded 61.85 m at 0.81 g/t 2PGE+Au from 217.15, including 2.45 m at 9.42 g/t 2PGE+Au from 221.20 m. The target UM was intercepted for 50.75 m from 207.10 m depth (~180 m vertical depth), and hosted two separate chromitite reef horizons, including a 1.00 m interval at 235.10 m depth (~200 m vertical).

The hole returned an assay highlight of 49.75 m grading 0.66 g/t 2PGE+Au from 208.10 m, including 4.90 m grading 1.56 g/t 2PGE+Au from 208.10 m, and 2.44 m grading 4.18 g/t 2PGE+Au from 235.06 m. CLICK HERE for a cross section of DD21TU23 and associated up-dip drill holes (Figure 6).

Table 1: Summary of Significant Core Assay Results to Date from 2021 Drilling at Trapia 1

Hole ID From
(m)		 To
(m)		 Length*
(m)		 Au
(g/t)		 Pd
(g/t)		 Pt
(g/t)		 2PGE+Au
(g/t)		 Summary
DD21TU21 134.95 206.85 71.90 0.03 0.86 0.39 1.29 71.90 m grading 1.29 g/t 2PGE+Au from 134.95 m
incl. 2.60 m grading 4.21 g/t 2PGE+Au from 139.35 m
and 23.00 m grading 2.51 g/t 2PGE+Au from 160.00 m
incl. 1.55 m grading 10.82 g/t 2PGE+Au from 167.75 m
139.35 141.95 2.60 0.05 2.36 1.80 4.21
160.00 183.00 23.00 0.05 1.78 0.67 2.51
167.75 169.30 1.55 0.02 7.42 3.38 10.82
DD21TU22 172.80 232.00 59.20 0.03 0.68 0.38 1.09 59.20 m grading 1.09 g/t 2PGE+Au from 172.80 m
incl. 7.45 m grading 2.48 g/t 2PGE+Au from 175.80 m
and 1.25 m grading 15.11 g/t 2PGE+Au from 201.60 m
175.80 183.25 7.45 0.06 1.64 0.78 2.48
201.60 202.85 1.25 0.02 8.64 6.45 15.11
DD21TU23 208.10 257.85 49.75 0.02 0.39 0.25 0.66 49.75 m grading 0.66 g/t 2PGE+Au from 208.10 m
incl. 4.90 m grading 1.56 g/t 2PGE+Au from 208.10 m
and 2.44 m grading 4.18 g/t 2PGE+Au from 235.06 m
208.10 213.00 4.90 0.02 1.08 0.45 1.56
235.06 237.50 2.44 0.01 2.47 1.70 4.18

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

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 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.

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 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.

ValOre Provides Update on 8,000-Metre Drill Program at Pedra Branca PGE Project – May 25, 2021