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

“Our 2021 exploration program at Pedra Branca is now in full swing with three drills, property-wide Trado^®, and extensive prospecting accelerating the target pipeline,” stated ValOre’s VP of Exploration, Colin Smith. “The inaugural drill holes at Trapia 1 look highly encouraging, with the anticipated first batch of assay results expected in early June, and a steady receipt of results continuing throughout our 8,000-metre program.”

Pedra Branca 2021 Exploration Program Highlights:

Fully funded and permitted 8,000 metre (“m”) drill program has started:
- 2,000 m to be drilled in 34 holes in the Reverse Circulation drilling (“RC”) program
- 6,000 m to be drilled in 42 holes in the diamond drilling (“DD”, “core drilling”) program
- An estimated 4,000 drill samples to be submitted for assay;
Pre-drilling Trado^® auger drilling continues property-wide:
- 226 m drilled in 75 auger holes testing 4 target areas
- 233 samples submitted for assay;
Additional trenching has been completed at the Santo Amaro South target:
- 136 m in two trenches (98 m and 38 m)
- 12 m of prospective ultramafic (“UM”) or ultramafic-derived rock transected in each trench, with 115 samples submitted for assay;
Extensive geological mapping conducted at the Santo Amaro, Trapia and Cana Brava target areas:
- 1,552 geological mapping points at 8 property-wide target areas
- 139 rock selected grab samples submitted for assay;

2021 Drill Program

ValOre’s 2021 drill program is now fully underway with two core rigs and one RC rig mobilized to the Trapia 1 target area. The primary focus of this year’s program is resource expansion and pre-resource target advancement, with at least nine property-wide targets selected for drilling. CLICK HERE for more information regarding the 2021 exploration program at Pedra Branca, and CLICK HERE for Figure 1, showing a regional map of 2021 drill targets.

2021 drilling at Trapia 1 has intercepted the target ultramafic intrusion in the first three diamond drill holes drilled to date, including a 75.70 m interval from 134.95 m hole depth (~117 m vertical) in DD21TU21. Two separate chromitite reef horizons were observed within the sequence, indicating a strong potential for high-grade PGE mineralization. This hole is 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. Core logging and sampling is in progress.

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 172.80 m hole depth (~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). Core logging and sampling is in progress.

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 has been intersected in hole DD21TU23 at 207.00 m depth (~179 m vertical), and drilling is ongoing at ~240 m, still within the mineralized UM sequence. Two chromitite reef horizons have been intersected within the first 30 m of the UM intrusion.

2021 RC drilling is testing for extensions of mineralization along strike at Trapia 1 and the up-dip extension of mineralization west of 2020 drilling. RC drill hole RC21TU04 was collared 170 m along strike to the west-southwest from the nearest historical resource drillhole and intercepted the target intrusion from 42 m hole depth (36 m vertical). The hole was lost at 78 m depth within the UM sequence, which remains open in all directions. The RC chips have been logged, sampled, and submitted for assay to SGS Vespasiano, Minas Gerais.

2021 Trado^® Auger Program

ValOre continues to utilize the Trado^®auger drill to test and advance property-wide exploration targets at Pedra Branca. To date this year, 226 m have been drilled in 75 holes at 4 target areas, with 233 samples submitted for assay. CLICK HERE for news release date March 23, 2021 and CLICK HERE for news release dated April 26, 2021, for highlights of the 2021 Trado^®auger program.

2021 Trenching Program

Two additional trenches at the Santo Amaro South target area have been completed to test for continuity of PGE mineralization between 2021 trenches TRSAS01 (20 m grading 1.06 g/t 2PGE+Au) and TRSAS03 (77 m grading 0.20 g/t 2PGE+Au) along 400 m of prospective geological strike length. CLICK HERE for news release dated March 23, 2021 for a summary of the Q1 2021 trenching results at Santo Amaro South.

Trench TR21SAS04, situated 260 m north of TR21SAS03, was 98 m in length and intercepted 12 m of UM/UMD rock. 30 m to the west-southwest, the 38 m long TR21SAS05 intercepted 12 m of UM/UMD rock. 115 total samples have been submitted for assay.

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.

Angilak Property 2021 Focus: District-Wide Targeting – May 10, 2021

Vancouver, B.C. ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today provided an update on the rhodium (“Rh”) assay program of historical and 2020 drill core samples (“samples” being pulps, pulverized rejects and coarse rejects of historical core) from ValOre’s 100%-owned Pedra Branca Platinum Group Element (“PGE”) Project in northeastern Brazil.

“The potential of rhodium as a significant value driver at Pedra Branca had not been assessed prior to ValOre,” stated Colin Smith, Vice President of Exploration. “After four phases of rhodium assaying in 2020 and 2021, we have firmly established the presence of significant district-wide rhodium mineralization in all five currently delineated PGE deposits and both selected pre-resource targets.”

Rhodium Assay Program Highlights:

ValOre has conducted four phases of Rh assay programs to date
- 1,069 samples from 154 drill holes (125 historical holes, 29 holes from 2020)
- All five deposits with NI 43-101 defined resource estimates, as well as two 2020 drill targets;
All deposits and targets returned Rh assays, establishing that Rh mineralization is present throughout the Pedra Branca PGE district;
Highlight assays of 1.44 grams per tonne rhodium (“g/t Rh”) over 0.50 metres (“m”) and 1.37 g/t Rh over 0.50 m from the Esbarro deposit, 1.27 g/t Rh over 0.97 m from the Cedro deposit, and an average of 0.07 g/t Rh in samples with detectable Rh;
>40% (432) of samples assayed to date have returned Rh assay results (≥0.01 g/t Rh);
A strong positive correlation between palladium + platinum + gold (“2PGE+Au”) grade and Rh grade is observed, with 78% of samples with 2PGE+Au grades >5 g/t returning anomalous Rh;
Rh mineralization is shallow in nature, with the average Rh-bearing sample starting at 54 m drill hole depth.

ValOre has completed four Rh assay programs to date, totaling 1,069 assayed samples from 154 drill holes (125 historical holes and 29 holes from ValOre’s 2020 drill campaigns). The fourth phase of Rh assaying comprised 786 samples selected on the basis of historical and 2020 core assay 2PGE+Au grade thresholds of ≥1 g/t and was initiated based on the strong Rh assay results from the three previous Rh programs conducted by ValOre in 2020 and 2021 (see news releases dated March 12, 2020, November 19, 2020 and March 2, 2021).

All five PGE deposits having NI 43-101 defined resource estimates and two pre-resource 2020 drill targets were examined and confirmed to host Rh mineralization. Prior to ValOre’s involvement in the Pedra Branca PGE Project, no drill core samples had been historically assayed for Rh, and ValOre’s positive results to date demonstrate Pedra Branca as a 3PGE+Au district. A strong positive correlation between 2PGE+Au grade and Rh grade is further corroborated, with 78% of samples with 2PGE+Au grades of ≥5 g/t producing anomalous Rh. Rhodium mineralization established to date is situated near-surface, with an average Rh-bearing sample interval depth starting at 54 m drill hole depth.

The C-04 target, which generated a drilling discovery in 2020 (see news release dated October 27, 2020), and the pre-resource Cana Brava target (three shallow PGE drill intercepts in four 2020 drill holes), exhibited the highest percentage of Rh-mineralized samples, at 70% and 64% of submitted samples. The Cedro, Esbarro and Curiu PGE deposits demonstrated significant Rh potential, with 51%, 50% and 47% of samples assayed returning Rh mineralization. The Trapia and Santo Amaro PGE deposits also returned notable Rh assays in 32% and 13% of submitted samples. See Table 1 below for a summary of Rh assays on a deposit basis, CLICK HERE for Table 2 for the complete dataset of anomalous Rh samples to date, and CLICK HERE for a summary table of ValOre’s 2019 NI 43-101 Pedra Branca resource estimate (includes Cedro, Esbarro, Curiu, Trapia and Santo Amaro deposits).

Table 1: Summary of Rhodium Assays on a Target Basis, Pedra Branca

Target Name	Target Stage	Total # Samples	Samples with Rhodium (%)	Highest Rh Assay (g/t)	# Samples >0.10 g/t Rh
C-04	Pre-resource	10	70%	0.16	1
Cana Brava	Pre-resource	14	64%	0.09	0
Cedro	43-101 Resource	173	51%	1.27	14
Curiu	43-101 Resource	187	50%	0.72	29
Esbarro	43-101 Resource	279	47%	1.44	29
Trapia	43-101 Resource	266	32%	0.59	8
Santo Amaro	43-101 Resource	140	13%	0.17	1
TOTAL		1,069	40%	1.44	82

About Rhodium

Rhodium is the rarest of the platinum group elements, occurring only up to one part per 200 million in the Earth's crust. The main use for rhodium is in catalytic converters designed to clean vehicle emissions. Due to its brilliance and resistance to oxidation, it is also used as a finish for jewelry, LCD monitors, and mirrors. In the chemical industry it is used in the production of nitric acid, acetic acid and hydrogenation reactions. Rhodium is found in platinum and nickel ores together with the other PGEs. South Africa is the world’s largest producer of rhodium (~80%), followed by Russia (~10%), Zimbabwe (~5%), Canada (~2%) and the U.S.A. (~2%). The global average resource/reserve grade is 0.281 g/t Rh, with the lowest reported resource/reserve grade of 0.010 g/t Rh (Canadian project) and the highest reported resource/reserve grade of 0.381 g/t Rh (South African project) (source: S&P Global).

Quality Control/Quality Assurance (QA/QC)

Historical Pedra Branca drill core samples were collected from ValOre’s secured core logging and storage facility located in Capitão Mór, Ceará, Brazil. A minimum sample weight of 50 g ensured an adequate sample for assay. Selected pulp samples were sent with an ensured chain of custody to SGS Geosol, Vespasiano, Minas Gerais, Brazil for analysis, which is an accredited mineral analysis laboratory. All samples were analyzed for Rh content using standard 50 g Fire Assay Atomic Absorption ICP-MS. Certified PGE ore reference standards, blanks and field duplicates were inserted as a part of ValOre’s quality control/quality assurance program. No QA/QC issues were noted with the results reported herein.

Qualified Person (QP)

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.

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 (see 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.

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

ValOre Announces High-Grade Platinum Group Element Results, Esbarro NW Target, Pedra Branca:
Channel sample of 6.5 metres grading 2.17 g/t 2PGE+Au, Trado® auger hole of 12.0 m grading 1.73 g/t 2PGE+Au from surface

April 26, 2021

Vancouver, B.C. ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today announced assay results for 1 channel sample and 19 Trado^® auger holes collected from the Esbarro NW target area at ValOre’s 100%-owned Pedra Branca Platinum Group Elements (“PGE”) Project in northeastern Brazil.

“Our exploration field work at Pedra Branca continues to generate excellent results, this time with the identification of near surface PGE mineralization at Esbarro NW, which is located within 200 metres of the Esbarro deposit,” stated ValOre’s Vice President Exploration, Colin Smith. “We will drill the Esbarro NW target in May as part of the ongoing reverse circulation drill campaign at Pedra Branca.”

Esbarro NW Channel Sample and Trado^® Auger Drilling Highlights:

Vertical channel sample from historical workings 200 metres (“m”) outside the pit-constrained resource area returned significant intervals of PGE mineralization, including:
- 6.5 m grading 2.17 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”) from surface, incl. 2.0 m grading 5.19 g/t 2PGE+Au from 4.50 m
- Highest-grade result of 7.44 g/t 2PGE+Au coming from the bottom of pit
- PGE mineralization open at depth and along strike in all directions;
Trado^® auger drilling returned near surface PGE assay results in 17 of 19 holes, with assay highlights including:
- 12.0 m grading 1.73 g/t 2PGE+Au from surface, incl. 2.0 m grading 2.90 g/t from surface and 2.0 m grading 3.36 g/t from 8.0 m
- 9.0 m grading 2.09 g/t 2PGE+Au from surface;
Esbarro NW target is drill-ready, with 10 reverse circulation (“RC”) holes planned totaling approximately 200 m with drilling anticipated to commence in May;
Esbarro deposit and Esbarro NW target area are adjacent to and bisected by well-establish roadways and electrical power lines;
Trado^®, channel and soil sampling PGE results further validate auger drilling as an effective exploration technique to accelerate the target pipeline at Pedra Branca;
CLICK HERE for ValOre’s video explaining the Trado^® auger from April 9, 2021.

Esbarro NW 2021 Exploration: Soil, Trado^® and Channel Sampling

2021 soil sampling from the Esbarro NW target area delineated a 600 m-long PGE-in-soils anomaly extending to the northwest from the Esbarro pit-constrained resource area (9.9 Mt grading 1.23 g/t 2PGE+Au, totaling 394,000 ounces). During this sampling campaign, a 6.5 m-deep historical test pit was encountered approximately 200 m north of the western-most resource area. The test pit was previously not known to ValOre’s team, as it was not catalogued in the historical Pedra Branca database.

A vertical channel sample was performed from surface to the bottom of pit (6.5 m depth), with altered ultramafic rocks intercepted throughout. Assay results for the channel sample returned a high-grade PGE interval from surface of 6.5 m grading 2.17 g/t 2PGE+Au, including 2.0 m grading 5.19 g/t 2PGE+Au from 4.50 m. The highest-grade sample (7.44 g/t 2PGE+Au) was collected from the pit bottom, and thus the high-grade in-situ PGE mineralization remains fully open at depth and along strike in all directions.

A 19-hole Trado^® auger follow-up program was conducted within the 600 m PGE-in-soils anomaly extending from the Esbarro resource area. 17 of 19 Trado^® auger holes intercepted PGE-bearing ultramafic or ultramafic-derived rocks, suggesting near-surface geological continuity of the mineralized host intrusion. Assay highlights include Trado^® holes AD21ES03, which returned 12.0 m grading 1.73 g/t 2PGE+Au from surface, incl. 2.0 m grading 2.90 g/t from surface and 2.0 m grading 3.36 g/t from 8.0 m, and Trado^® hole AD21ES08 which returned 9.0 m grading 2.09 g/t 2PGE+Au from surface.

See Table 1 below for a summary of significant channel sample and Trado^® PGE assay intervals, CLICK HERE for Figure 1, showing a map of the Esbarro NW target, CLICK HERE for Figure 2, showing a map of the results reported herein, and CLICK HERE for Figure 3 showing a fence diagram of the high-grade channel sample and proximal Trado^® auger holes.

Table 1: Esbarro NW Trado^® and Channel Sample Assay Highlights

Sample Type	Sample ID	From (m)	To (m)	Length (m)	2PGE+Au (g/t)	2PGE+Au Interval Summary
Channel	PT21ES01	0.0	6.5	6.5	2.17	6.5 m grading 2.17 g/t 2PGE+Au from surface
Channel	PT21ES01	4.5	6.5	2.0	5.16	2.0 m grading 5.16 g/t 2PGE+Au from 4.50 m
Trado®	AD21ES02	0.0	5.0	5.0	0.63	5.0 m grading 0.63 g/t 2PGE+Au from surface
Trado®	AD21ES03	0.0	12.0	12.0	1.73	12.0 m grading 1.73 g/t 2PGE+Au from surface
Trado®	AD21ES03	0.0	2.0	2.0	2.90	2.0 m grading 2.90 g/t 2PGE+Au from surface
Trado®	AD21ES03	8.0	10.0	2.0	3.36	2.0 m grading 3.36 g/t 2PGE+Au from 8 m
Trado®	AD21ES04	0.0	2.0	2.0	0.33	1.95 m grading 0.33 g/t 2PGE+Au from surface
Trado®	AD21ES04A	0.0	4.0	4.0	1.12	4.0 m grading 1.12 g/t 2PGE+Au from surface
Trado®	AD21ES05	0.0	1.6	1.6	0.30	1.6 m grading 0.30 g/t 2PGE+Au from surface
Trado®	AD21ES06	0.0	2.7	2.7	0.23	2.7 m grading 0.23 g/t 2PGE+Au from surface
Trado®	AD21ES07	0.0	2.0	2.0	0.54	1.95 m grading 0.54 g/t 2PGE+Au from surface
Trado®	AD21ES08	0.0	9.0	9.0	2.09	9.0 m grading 2.09 g/t 2PGE+Au from surface
Trado®	AD21ES09	0.0	2.0	2.0	0.42	2.0 m grading 0.42 g/t 2PGE+Au from surface
Trado®	AD21ES10	0.0	2.0	2.0	0.35	2.0 m grading 0.35 g/t 2PGE+Au from surface
Trado®	AD21ES11	0.0	2.0	2.0	0.45	1.95 m grading 0.45 g/t 2PGE+Au from surface
Trado®	AD21ES12	0.0	1.0	1.0	0.78	1.0 m grading 0.78 g/t 2PGE+Au from surface
Trado®	AD21ES14	1.0	2.0	1.0	0.27	1.0 m grading 0.27 g/t 2PGE+Au from 1 m
Trado®	AD21ES17	0.0	4.0	4.0	0.68	4.0 m grading 0.68 g/t 2PGE+Au from surface
Trado®	AD21ES18	0.0	1.9	1.9	0.19	1.85 m grading 0.19 g/t 2PGE+Au from surface

About Trado^® Auger Drilling

Please CLICK HERE to view ValOre’s news release of March 23, 2021 for detailed information regarding Trado^® auger drilling. CLICK HERE for ValOre’s video explaining the Trado^® auger drill from April 9, 2021.

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 (see 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.

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

Vancouver, B.C. ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today announced a fully-funded 2021 exploration program including Reverse Circulation (“RC”) and diamond drilling (“DD”, “core drilling”) programs at ValOre’s 100%-owned Pedra Branca Platinum Group Element (“PGE”) Project in northeastern Brazil. RC drilling has commenced, and the first of two diamond drill rigs is scheduled to arrive by the end of April.

“The application of Trado^®, RC and core drilling at Pedra Branca allows us to systematically accelerate the target pipeline, from new discovery to resource expansion,” stated ValOre’s VP of Exploration, Colin Smith. “Pre-drilling Trado^® auger work serves to confirm the presence of mineralized ultramafics under overburden, and follow-up RC drilling enables the advancement of these targets at 4x the rate of core drilling.”

Pedra Branca 2021 Exploration Program:

Fully funded and permitted 8,000 metre drill program:
- 2,000 metres (“m”) of RC drilling, commenced;
- 6,000 m of core drilling, to commence this month;
First phase of RC drilling will test six property-wide target areas, focusing on three target styles: undrilled new discovery, pre-resource target advancement, and resource expansion;
Core drilling will return to high priority resource expansion and pre-resource targets successfully drilled in 2020, as well as positive 2021 RC drill results;
Pre-drilling Trado^® auger work will continue property-wide, advancing additional targets to drill-ready stage;
ValOre continues to receive full support from the local community of Capitão Mor, as well as Ceará State and federal governmental agency, ANM (Agência Nacional de Mineração) for on-going exploration of the Pedra Branca PGE Project.

Pedra Branca 2021 Drill Program

ValOre has engaged Brazilian drilling companies Servdrill Perfuração e Sondagem (“Servdrill”) and DrillGeo Geologia e Sondagem (DrillGeo) for the fully funded and permitted 2021 drill program at Pedra Branca, which will consist of 2,000 m of RC and 6,000 m of core drilling. The RC drill program has commenced and will test at least six property-wide target areas with a primary focus of undrilled new discovery, pre-resource target advancement, and resource expansion.

The core drilling program will commence this month with the arrival of 1 of 2 diamond drill rigs. Five property-wide target areas will be tested with a primary focus of following up positive RC drill results, advancing targets to inferred resource category and expanding the Trapia and Santo Amaro NI 43-101-defined resources. See Table 1 below for a summary of the 2021 RC and core drilling programs, and CLICK HERE for Figure 1, showing a regional map of 2021 drill targets.

Table 1: Summary Table of 2021 Drill Program

Reverse Circulation Drilling
RC Target	Target Style	Holes Planned	Meters Planned
2020 Twin Holes	QA / QC (Assay Verification)	2	150
Trapia 1 / West / South	New Discovery, Resource Expansion	10	1000
Esbarro Northwest	New Discovery	10	250
Cana Brava	Pre-Resource Target Advancement	6	300
Santo Amaro South	Pre-Resource Target Advancement	6	300
TOTAL		34	2,000
Diamond Drilling
DD Target	Target Style	Holes Planned	Meters Planned
Trapia 1 / 2 / West	Resource Expansion	20	3000
C-04	Pre-Resource Target Advancement	5	500
Santo Amaro	Resource Expansion	12	2000
Additional Targets TBA	(all)	5	500
TOTAL		42	6,000

About Servdrill Perfuração e Sondagem

Servdrill Perfuracao e Sondagem Ltda. (“Servdrill”) is a Brazilian drilling company founded in 2008 that offers diamond drilling, RC drilling and underground drilling services. Servdrill is based in the State of Para and has extensive experience operating throughout Brazil with clients such as OZ Minerals, Mineracao Vale Verde, VTF Mineracao and Centaurus Metals.

Servdrill is committed to conducting drill programs with high levels of productivity, safety and respect for the environment and community.

About DrillGeo Geologia e Sondagem

DrillGeo Geologia e Sondagem Ltda. (“DrillGeo”) is a Brazilian drilling company founded in 2005 and based in the State of Bahia. With over 110 employees and 19 drill rigs, DrillGeo has drilled over 1,000,000 meters for several exploration and mining projects throughout Brazil, with clients such as Mineracao Caraiba, Yamana Gold, Ferbasa, Lundin Mining and Equinox Gold

DrillGeo strives for maximum quality and efficiency in its operations, valuing safety, sustainability and respect for the environment.

ValOre, Servdrill and DrillGeo COVID-19 Protocols

ValOre together with Servdrill and DrillGeo will continue to operate with the strictest of COVID protocols in place to protect the health of employees, contractors, and communities.

As part of the safety protocol, the companies have implemented daily screening procedures, temperature monitoring, self-assessment checklists and issued directives regarding social distancing to ensure a safe environment for operations. An extensive procedural guide on hygiene and conduct to be adopted daily during and after work hours.

These decisions reinforce the companies’ objective of preventing the transmission of COVID-19 among its employees, contractors, and the communities proximal to drilling activities.

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.

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.

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

Colin Smith V.P. Exploration and Dustin Zinger: Project Update – April 9, 2021

Vancouver, B.C. ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today announced the appointment of Colin Smith as Vice President of Exploration and has added significant experience to the team responsible for advancing ValOre’s 100%-owned Pedra Branca Platinum Group Elements (“PGE”) Project in northeastern Brazil.

“With the recently completed financing, ValOre is in a strong position to ramp up exploration activities to advance the exploration and development of Pedra Branca. We are very lucky to have secured such an experienced, competent and hard-working team to execute our plan,” stated ValOre’s Chairman and CEO, Jim Paterson. “Colin Smith has risen to every challenge thrown at him and has proven himself to be a talented and passionate geologist with an innate ability to bring out the best in all of his team members. We take great pride in Colin’s appointment as ValOre’s Vice President of Exploration.”

Colin Smith is a registered Professional Geologist (P.Geo.) in British Columbia, Saskatchewan, Nunavut and the Northwest Territories with over 16 years experience developing, executing and managing exploration campaigns in North and South America, ranging from early-stage project generation to near-mine resource delineation. Colin’s passion for exploration and discovery has garnered him a technical expertise with structurally hosted gold, ultramafic-associated PGEs, porphyry copper-gold, diamonds, unconformity-related uranium, and coal. Smith started with ValOre in August 2018, overseeing New Project Review for the Company. This followed his role as Senior Exploration Geologist with SSR Mining Inc. at the Seabee Gold Operation in northern Saskatchewan, where he designed and implemented all Seabee-based exploration activities, resulting in multiple auriferous discoveries and resource delineation. Smith holds a B.Sc. degree in Geology from the University of British Columbia (2007), and an M.Sc. degree in Economic Geology from the University of Victoria (2012).

“ValOre has assembled an outstanding team of industry-leading professionals in Brazil and Canada, whose foremost goal is the rapid advancement of our Pedra Branca PGE project to ultimately maximize shareholder value,” stated ValOre’s Vice President of Exploration, Colin Smith. “I am deeply honoured by the appointment and highly motivated to continue adding tangible value to ValOre’s assets in 2021 and beyond.”

Integral to the successful exploration and advancement of the Pedra Branca PGE Project team are:

Thiago Diniz, M.Sc., P.Geo. – Exploration Manager, Exploration Geologist with over 8 years of experience working on early- to advanced-stage fertilizer, base and precious metals projects, both in Brazil and Canada, including three world-class mineral deposits (Troilus Au-Cu, in Quebec, Canada; and Belo Sun – Au, and Brazil Potash, in Brazil). Acquired experience in the development and management of large-scale drilling, field mapping and metallurgical programs. Thiago is a registered P.Geo. in Ontario and Quebec (Géo) and holds a B.Sc. degree in Geology from Universidade Federal de Minas Gerais (2013) and a M.Sc. degree in Economic Geology from Queen’s University, Kingston (2019).

Marina Carvalho – Lead Administrator, over 10 years experience within the mining sector, coordinating finance, accounting, budgeting, planning, HR, contract management and corporate governance for private and publicly traded companies. In Brazil, was directly involved in the development of two world class mineral deposits (Belo Sun – Gold; and Potassio do Brasil – Potash). Marina holds a Bachelor of Business Administration degree from Fundacao Armando Alvares Penteado (Sao Paulo, Brazil), a post grad Certificate in Finance and Business Management from Fundacao Dom Cabral (Minas Gerais, Brazil) and Change Management Certification (PROSCI).

Rodolfo Sena – Senior Exploration Geologist, with over 10 years of experience working on the exploration and development stages of fertilizer, base and precious metals projects. Participated in the development of two world class mineral deposits (Belo Sun – Gold; and Potassio do Brasil – Potash). Rodolfo holds a B.Sc. Degree in Geology from Universidade Federal de Minas Gerais (2009) and is starting a Master’s Degree in Regional Geology in 2021 at UFVJM, Brazil.

Kleber Souza – Senior Exploration Geologist, with over 10 years of experience working on the exploration and development stages of base and precious metals projects. Participated in the development of a world class mineral gold deposit (Belo Sun). Kleber holds a B.Sc. Degree in Geology from Universidade Federa do Para (2007).

Rafael Diniz – Junior Exploration Geologist, with experience working on the exploration of copper and phosphate projects in southern Brazil. Rafael holds a B.Sc. Degree in Geology from Universidade Federal de Ouro Preto (2018).

Luiz Mauro Martins – Senior Mining Technician, with over 30 years of experience on the exploration of base and precious metals and PGE deposits in Brazil. Work experience with South African Gemcore, Canadian Falconbridge, Anglo-Swiss Xstrata, and Australian Aguia Resources.

Antonio Mota – Senior Mining Technician, with over 30 years of experience, 15 of them working on the Pedra Branca PGE project. Local citizen of Capitao Mor, with great knowledge of the region.

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 (see 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.

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

20 metres grading 1.06 g/t 2PGE+Au in trench and 10 metres grading 1.64 g/t from surface in Trado^® auger hole

Vancouver, B.C. ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today announced assay results for 3 trenches and 19 Trado^® auger holes collected from the Santo Amaro South target area at ValOre’s 100%-owned Pedra Branca Platinum Group Elements (“PGE”) Project in northeastern Brazil.

“We have just begun receiving encouraging assays from Trado^® auger drilling and mechanical trenching, which define a PGE-mineralized trend 800 metres to the south of the Santo Amaro inferred resource,” stated ValOre’s Chairman and CEO, Jim Paterson. “Follow-up work will test continuity and extensions of the undrilled >400 m long PGE-mineralized ultramafic belt at Santo Amaro South.”

Santo Amaro South Trenching and Trado^® Auger Drilling Highlights:

Three trenches returned significant intervals of PGE mineralization, including:
- 20 metres (“m”) grading 1.06 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”), including 7 m grading 1.93 g/t 2PGE+Au
  - Contained within a broader interval of 61 m grading 0.43 g/t 2PGE+Au
  - Individual sample assays as high as 5.07 g/t 2PGE+Au
- 77 m grading 0.20 g/t 2PGE+Au
- 11 m grading 0.35 g/t 2PGE+Au
Trado^® auger drilling assay highlights, from surface, include:
- 10 m grading 1.64 g/t 2PGE+Au
- 4 m grading 1.09 g/t 2PGE+Au
- 3 m grading 0.66 g/t 2PGE+Au
Assay results validate Trado^® auger drilling as an effective exploration technique to confirm near-surface PGE mineralization at Pedra Branca and advance targets to drill-ready stage.

Santo Amaro South 2021 Trado^® Auger Drilling and Trenching Program

Assay results for 3 east-west trenches (194 total samples) and 19 vertical Trado^® auger holes (71 total samples) have been received for the Santo Amaro South target area, with significant PGE assays returned for all 3 trenches and multiple Trado^® auger holes. Trado^® hole logging, trench mapping, and subsequent assay results have defined multiple un-drilled, north-south-trending mineralized UM packages which exceed 400 m in length and remain open along both directions of geological strike. See Table 1 below for a summary of significant trench and Trado^® PGE assay intervals, CLICK HERE for Figure 1, showing a map of the Santo Amaro and Santo Amaro region, CLICK HERE for Figure 2, showing a detailed view of the Santo Amaro South target, and CLICK HERE for Figure 3 showing cross sections of the 3 trenches with coincident Trado^® auger holes.

The northernmost trench, TR21SAS01, totaled 79 m in length, and exposed mineralized ultramafics (peridotites and dunites with subordinate serpentinites) from 17 to 79 m, with localized centimetric chromitite horizons. The trench returned a channel sample assay of 20 m grading 1.06 g/t 2PGE+Au from 18 m, within a broader mineralized interval of 61 m grading 0.43 g/t 2PGE+Au from 18 m.

The southernmost trench, TR21SAS03 was excavated approximately 400 m south of TR21SA01, totaled 85 m in length, and exposed mineralized peridotites (with minor serpentinites) from 0 to 81 m. The trench returned a channel sample assay of 77 m grading 0.20 g/t 2PGE+Au from 49 m, including 44 m grading 0.25 g/t 2PGE+Au and 4 m grading 0.61 g/t 2PGE+Au from 53 m.

Trench TR21SAS02 was opened approximately 200 m northwest of TR21SAS03 and 250 m southwest of TR21SAS01, totaled 77 m in length, and exposed mineralized ultramafic derived rocks from 51.6 to 58.3 m. The trench returned a channel sample assay of 11 m grading 0.35 g/t 2PGE+Au from 49 m.

Trado^® auger drilling proved highly effective at locating prospective UM rocks beneath overburden and confirming the presence of shallow (10 m or less) associated PGE mineralization. Trado^® hole AD21SAS12, situated 160 m west (up-dip) of trench TR21SAS03, drilled 10 m of highly magnetic pale-green to light-brown soil with UM rock fragments from surface, and returned an assay of 10 m grading 1.64 g/t. Sixty metres to the northeast, Trado^® hole AD21SAS08, drilled a correlative sequence from surface to 4 m depth which returned a 2PGE+Au assay of 1.09 g/t. Trado^® hole AD21SAS29 tested the sequence 260 m to the northeast of AD21SAS08, and returned an assay of 3 m grading 0.66 g/t from surface. These results validate the use of Trado^® auger drilling to identify shallow PGE mineralization at Pedra Branca, and the use of this exploration technique will be implemented property-wide to advance targets to drill-ready stage.

Table 1: Santo Amaro South Trado^® Auger Drilling and Trenching Assay Highlights

2021 Trenching Highlights
Trench	Channel From (m)	Channel To (m)	Length (m)	2PGE+Au (g/t)
TR21SAS01	18	38	20	1.06
TR21SAS01	18	79	61	0.43
TR21SAS03	4	81	77	0.2
TR21SAS02	49	60	11	0.35
2021 Trado^® Auger Drilling Highlights
Trado^®Hole	Depth From (m)	Depth To (m)	Length (m)	2PGE+Au (g/t)
AD21SAS12	0	10	10	1.64
AD21SAS08	0	4	4	1.09
AD21SAS29	0	3	3	0.66

About Trado^® Auger Drilling

The Trado^® is a portable machine-powered auger drill specifically designed for mineral exploration. The device is capable of drill up to 30 meters depth through soil and saprolite rock, and most holes terminate at the onset of competent bedrock. Overburden is typically shallow at Pedra Branca (< 5 m), and thus ValOre’s average Trado^® hole depth is approximately 3 m, with a maximum depth of 10 m, to date. The tool is manufactured by the Brazilian company Trado^® Equipment and Services, founded in 1978, and has been widely used by junior and major companies throughout Brazil. ValOre’s Trado^® auger hole locations were captured by handheld GPS, and auger hole samples were continuously collected in one-meter intervals from surface to end of hole. The first 20 centimeters (“cm”) interval of every hole is discarded to avoid contamination by colluvium material. Auger holes were drilled with 4” diameter bits, and material is recovered from inside the auger bit, which can accommodate up to 20 to 30 cm of material per run. Approximately 7 to 10 runs are necessary to complete a one-meter sample. At the drill site, the material from each run is removed from the bit and collected in plastic bins. Once the metre-long interval has been drilled, the sample is homogenized over clean plastic sheets, and a representative aliquot poured into plastic sample bags. Samples are subsequently transported to ValOre’s logging facility, in Capitão Mor, Ceará, Brazil, where magnetic susceptibility and portable-XRF readings are taken for each sample. An identification tag is inserted in each bag, and samples are sent with an ensured chain of custody to SGS Geosol Vespasiano, an accredited mineral analysis laboratory in Minas Gerais, for geochemical analyses. All samples are analyzed for PGE+Au (Pd, Pt, Au) content using standard 50g Fire Assay and ICP-AES techniques. Certified PGE ore reference standards, blanks and field duplicates are inserted as a part of ValOre’s QA/QC program. No QA/QC issues were noted with the results reported herein.

Trenching Methodology

Trenches at Santo Amaro South were mechanically opened perpendicular to the local structural trend, along an east-west azimuth. Trenches vary from 70 to 90 m in length, and 60 to 80 cm in width, reaching up to 3 m depth. After detailed geological mapping of trench walls and floor, a channel is marked on the north wall, with wood markers placed at “from” and “to” positions for each sample interval. Average sample interval length is 1 m, while respecting geological contacts, observed mineralization, and alteration features. Samples were taken with a chisel-like tool and dropped to plastic bins placed underneath the channel. The material was then identified and bagged at trench site, prior to transport to ValOre’s logging facility, where portable XRF and magnetic susceptibility measurements are taken. All samples are sent with an ensured chain of custody to SGS Geosol Vespasiano, an accredited mineral analysis laboratory in Minas Gerais, for geochemical analyses. All samples are analyzed for PGE+Au (Pd, Pt, Au) content using standard 50g Fire Assay and ICP-AES techniques. Certified PGE ore reference standards, blanks and field duplicates are inserted as a part of ValOre’s QA/QC program. No QA/QC issues were noted with the results reported herein.

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 (see 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.

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

60% of samples anomalous in follow-up program, with a high value of 0.25 g/t Rh

Vancouver, B.C. ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today announced rhodium (“Rh”) assay results of a follow-up investigation of the Rh values in historical drill core samples (“samples” being “pulps, pulverized rejects and coarse rejects of historical core”) from ValOre’s 100%-owned Pedra Branca Platinum Group Element (“PGE”) Project in northeastern Brazil.

“The first three phases of resampling for rhodium assay at Pedra Branca have been highly encouraging,” stated ValOre’s Chairman and CEO, Jim Paterson. “ValOre’s team has commenced an expanded program to include all historic samples grading over 1 g/t 2PGE+Au from the Esbarro, Curiu, Cedro, Trapia and Santo Amaro NI 43-101 deposits, including all 2020 drilling, and pre-resource targets C-04 and Cana Brava.”

Rhodium Assay Program Highlights:

ValOre has conducted three phases of Rh assay programs to date, totaling 283 samples;
59% (166) of the samples assayed to date have returned anomalous Rh, with a high of 1.44 g/t Rh and an average of 0.12 g/t Rh in the 166 samples with detectable Rh;
Phase 3 assayed 212 samples; 111 from the Esbarro and 101 from the Curiu PGE deposits;
Anomalous Rh assay values occur in 60% (127) of the samples, with a high of 0.25 grams per tonne (“g/t”) Rh and an average of 0.07 g/t Rh in the 127 samples with detectable Rh;
A positive correlation between 2PGE+Au (palladium + platinum + gold) grade and Rh grade is observed;
Rh mineralization established to date is shallow in nature, with the average Rh-bearing sample starting at 27 metres (“m”) drill hole depth.

ValOre received follow-up Rh assay results for 212 samples (pulps, pulverized rejects and coarse rejects of historical drill core) from the Esbarro and Curiu PGE deposits, selected on the basis of historical 2PGE+Au assays grading over 2.0 g/t. This third phase of Rh assaying was initiated based on the strong Rh assay results from the two previous Rh programs conducted by ValOre in 2020 (see news releases dated March 12 and November 19, 2020).

A positive correlation between 2PGE+Au grade and Rh grade is observed, with 89% of samples with 2PGE+Au grades of ≥5.00 g/t producing anomalous Rh; however, Phase 3 demonstrated that strong Rh mineralization is present throughout the 2PGE grade profile sampled to date, with two of the three highest Phase 3 Rh values (0.25 and 0.23 g/t Rh) coming from two of the lower 2PGE+Au grade samples (2.22 and 2.21 g/t 2PGE+Au).

A Phase 4 Rh assay program has commenced and will comprise all samples grading over 1 g/t 2PGE+Au from the Esbarro, Curiu, Cedro Trapia and Santo Amaro NI 43-101 deposits, including all 2020 drilling, as well as pre-resource targets C-04 and Cana Brava.

Rh mineralization established to date is situated near-surface, much like Pedra Branca’s 2PGE+Au mineralization, with an average Rh-bearing sample interval depth starting at 27 m. To date, the Esbarro and Curiu PGE deposits have exhibited the most significant Rh potential, with 75% and 66% of samples returning anomalous Rh values, respectively. See Table 1 below for a summary of Rh assays on a deposit basis and CLICK HERE for Table 2 for the complete dataset of anomalous Rh samples to date.

The Esbarro deposit hosts a resource of 9.9 Mt at a grade of 1.23 g/t 2PGE+Au totaling 394,000 ounces, and the Curiu deposit hosts a resource of 1.6 Mt with a grade of 1.93 g/t 2PGE+Au totaling 100,000 ounces (CLICK HERE for a summary table of ValOre’s 2019 NI 43-101 Pedra Branca resource estimate).

Table 1: Summary of Rhodium Assays on a Deposit Basis, Pedra Branca

NI 43-101 Deposit	Samples Assayed for Rh	Samples with Anomalous Rh	%	Average Rh Grade (g/t)
Esbarro	166	124	75	0.12
Curiu	127	84	66	0.09
Cedro	12	6	50	0.38
Trapia	11	4	36	.0.12
Santo Amaro	9	0	0	0

About Rhodium

Rhodium is the rarest of the platinum group elements, only occurring up to one part per 200 million in the Earth's crust. The main use for rhodium is in catalytic converters designed to clean vehicle emissions. Due to its brilliance and resistance to oxidation, it is also used as a finish for jewelry, LCD monitors, and mirrors. In the chemical industry it is used in the production of nitric acid, acetic acid and hydrogenation reactions. Rhodium is found in platinum and nickel ores together with the other PGEs. South Africa is the world’s largest producer of rhodium (~80%), followed by Russia (~10%), Zimbabwe (~5%), Canada (~2%) and the U.S.A. (~2%). The global average resource/reserve grade is 0.281 g/t Rh, with the lowest reported resource/reserve grade of 0.010 g/t Rh (Canadian project) and the highest reported resource/reserve grade of 0.381 g/t Rh (South African project) (source: S&P Global).

Quality Control/Quality Assurance (QA/QC)

Qualified Person (QP)

About ValOre Metals Corp.

The Pedra Branca PGE Project comprises 38 exploration licenses covering a total area of 38,940 hectares (96,223 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 (see 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.

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

19.1 g/t 2PGE+Au and 10.2 g/t 2PGE+Au rock samples collected outside Santo Amaro resource area and new PGE-in-soils trends identified

Vancouver, B.C. ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today announced assay results for 562 soil and 56 rock samples collected from the Santo Amaro target area at ValOre’s 100%-owned Pedra Branca Platinum Group Elements (“PGE”) Project in northeastern Brazil.

“The Santo Amaro region has moved up our exploration priority list as impressive PGE results were generated through rock and soil sampling, geological mapping, and 2020 diamond core drilling,” stated ValOre’s Chairman and CEO, Jim Paterson. “ValOre’s team continues to unlock more value at Santo Amaro with targeted Trado^® auger drilling and trenching programs prior to the return of the drill rigs this season.”

Santo Amaro PGE Assay Highlights:

Multiple high-grade PGE assay results from rock samples collected outside current Santo Amaro NI 43-101 inferred resource area, including:
- 19.1 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”), sampled 190 metres (“m”) northwest of Santo Amaro resource
- 10.2 g/t 2PGE+Au, sampled 290 m northwest of Santo Amaro resource
- 7.10 g/t 2PGE+Au, sampled 50 m northwest of Santo Amaro resource
- 2.12 g/t 2PGE+Au, sampled 400 m northwest of Santo Amaro resource
- 2.10 g/t 2PGE+Au, sampled 425 m northwest of Santo Amaro resource
- 1.76 g/t 2PGE+Au, sampled 360 m southeast of Santo Amaro resource
- 1.16 g/t 2PGE+Au, sampled 800 m north of Santo Amaro resource;
Multiple new, undrilled anomalies established outside of NI 43-101-defined resource area:
- North-south trending PGE-in-soils anomalies (500 and 600 m trends)
- Northwest trend of high to medium grade PGE rock samples (450 m trend);
PGE anomalies remain open to the north and south of current surface sampling coverage;
A north-south trending PGE-in-soils anomaly may connect Santo Amaro resource to the Santo Amaro South target, situated 1.5 kilometres (“km”) to the south;
High-priority follow-up Trado^® auger drilling and trenching program has commenced to further define these multiple PGE anomalies.

Santo Amaro 2021 Soil and Rock Sampling Program

Assay results for 562 soil and 56 rock samples have been received for the Santo Amaro target area and significant PGE-in-soil anomalies have been identified. Geochemical enrichment of PGEs in soils has defined multiple new undrilled areas of north-south trending PGE anomalies extending to the east (~250 m) and west (~370 m) of the current Santo Amaro NI 43-101 resource area. These anomalies remain open from the northern and southern limits of sampling and are coincident with prospective near-surface 3D magnetic inversion targets.

Additionally, potential continuity exists between the southernmost soil anomaly at Santo Amaro and the largely unexplored Santo Amaro South target, situated 1.5 km to the south. This suggests the presence of a contiguous ≥2.5 km long ultramafic (“UM”) belt which may be associated with the Santo Amaro resource that has only been drill tested over 600 m of this total prospective geological trend.

High-grade PGE assays were returned for selected rock grab samples collected from prospective zones outside of the existing resource area, including a 19.1 g/t 2PGE+Au rock sample 190 m northwest of the resource, and a 10.2 g/t 2PGE+Au sample 290 m northwest of resource. A 7.51 g/t 2PGE+Au sample was also collected near the collar location of 2020 drill hole DD20SA24. Three additional rock samples situated 400 to 450 northwest of the resource returned 2PGE+Au grades of 2.12 g/t, 2.10 g/t and 1.45 g/t, and an additional sample located 800 m north of the resource returned a grade of 1.16 g/t 2PGE+Au. To the southeast of the resource, a 1.78 g/t 2PGE+Au sample was returned from a newly discovered tremolite (+chromitite) schist outcrop (360 m to the southeast of the easternmost historical resource drill hole). See Table 1 below for a summary of rock sample PGE assays, and CLICK HERE for Figure 1, showing a location map for soil and rock assay results reported herein.

Table 1: Santo Amaro Rock Assay Highlights

Sample ID	Lithology	Easting	Northing	2PGE+Au (g/t)
100527	Chromitite	409016	9407775	19.10
100587	Chromitite	408925	9407831	10.18
100524	Serpentinized Ultramafic	409149	9407651	7.51
102340	Peridotite	408858	9407906	2.12
102341	Peridotite	408826	9407916	2.10
100585	Serpentinized Ultramafic	409592	9407287	1.78
100588	Serpentinized Ultramafic	408925	9407831	1.58
102342	Peridotite	408812	9407934	1.45
102330	Peridotite	409327	9408308	1.16
100591	Peridotite	409082	9407819	0.92
100593	Peridotite	409129	9407810	0.78
100586	Peridotite	409079	9407629	0.57
100594	Peridotite	409223	9407785	0.34

Santo Amaro Target Area and the 2019 NI 43-101 Resource

Santo Amaro is one of five defined PGE deposits at Pedra Branca that together host an inferred resource totaling 1,067,000 ounces (“oz”) of 2PGE+Au contained in 27.2 million tonnes (“Mt”) grading 1.22 g/t 2PGE+Au; CLICK HERE for the Pedra Branca NI 43-101 Technical Report. At Pedra Branca, PGE mineralization for all five of the inferred resource deposit areas outcrops at surface, giving these a reasonable expectation of eventual economic extraction by open pit mining methods. CLICK HERE for Figure 2A and 2B, showing the location of the five Pedra Branca PGE resource areas and a detailed view of the Santo Amaro target area.

The 2019 Santo Amaro inferred resource estimate totals 203,000 oz 2PGE+Au contained in 5.3 Mt grading 1.19 g/t 2PGE+Au and represents the most underexplored deposit target area at Pedra Branca. Extensive historical PGE-in-soils anomalies, magnetic targets, and newly mapped, untested UM rock belts make Santo Amaro a compelling target area for resource expansion and new PGE discoveries. Geological mapping preceding the 2020 drill program identified several prospective UM belts which extend well beyond the area hosting the defined resource. A follow-up mapping, soil sampling, rock sampling, and prospecting program is on-going.

2020 Drilling, Santo Amaro Target

In 2020, a total of 1,366 metres were drilled in twelve core holes at Santo Amaro. PGE mineralization in the UM intrusion that hosts the Santo Amaro resource was extended along strike to the east and west as shown by at-surface and near-surface PGE drill intercepts. Mineralization remains open in both directions. In addition, a newly identified, shallow PGE-enriched zone was drilled approximately 250 m north-northwest of the Santo Amaro resource area (see ValOre’s news release dated January 15, 2021).

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

Soil samples were collected from field sites spaced 20 metres apart on lines spaced 100 metres apart, with coordinate data captured by handheld GPS. These samples were subsequently stored in a secure ValOre facility in Capitão Mor, Ceará, Brazil and thereafter sent with an ensured chain of custody to SGS Geosol Vespasiano, an accredited mineral analysis laboratory in Minas Gerais, for geochemical analyses. All samples are analyzed for PGE+Au (Pd, Pt, Au) content using standard 50g Fire Assay and ICP-AES techniques. Certified PGE ore reference standards, blanks and field duplicates are inserted as a part of the QA/QC program.

Selected rock grab samples are collected from field sites with coordinate data captured by handheld GPS and subsequently stored in a secure ValOre facility in Capitão Mór, Ceará, Brazil. The samples were then sent with an ensured chain of custody to SGS Geosol Vespasiano, Minas Gerais for fire assay analysis. All samples were analyzed for PGE+Gold (Pd, Pt, Au) content using standard Fire Assay and ICP techniques. Cr values that exceed 5% are redirected to ore grade pyrosulfate fusion and XRF techniques to determine % Cr₂O₃. Certified PGE ore reference standards, blanks and field duplicates are inserted as a part of the QA/QC. No QA/QC issues were noted with the results reported herein.

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 (see 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.

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

ValOre Announces High-Grade Platinum Group Element Results, Esbarro NW Target, Pedra Branca: Channel sample of 6.5 metres grading 2.17 g/t 2PGE+Au, Trado® auger hole of 12.0 m grading 1.73 g/t 2PGE+Au from surface

ValOre Announces High-Grade Platinum Group Element Results, Esbarro NW Target, Pedra Branca:
Channel sample of 6.5 metres grading 2.17 g/t 2PGE+Au, Trado® auger hole of 12.0 m grading 1.73 g/t 2PGE+Au from surface