Pedra Branca Archives - Page 10 of 11

Update on Mendes North Geochemical Program Review – July 7, 2020

Vancouver, B.C. ValOre Metals Corp. ("ValOre"; TSX‐V: VO; OTC: KVLQF; FRANKFURT: KEQ0) ValOre today announced results from 565 soil samples and 4 rock samples from the recently completed geochemical sampling program at the Mendes North exploration target at ValOre’s 100%-owned Pedra Branca Platinum Group Elements Project (“PGE”, “2PGE+Au”) in northeastern Brazil.

Key Updates on 2020 Exploration Programs:

Coincident magnetic and WorldView satellite spectral imaging targets now corroborated by soil sampling, provides support for exploration methodology
Soil sample assays from all three Mendes North targets returned significant PGE results
All three anomalies remain open, indicating potential continuity of a >3 km PGE-bearing belt
Follow-up geological mapping, prospecting and geochemical sampling to be executed immediately

“The Pedra Branca PGE assay results announced today have greatly increased our confidence in the exploration methodology developed and implemented successfully by ValOre’s technical team. The three Mendes North targets have now been corroborated as prospective by three separate exploration technologies: geophysics, remote sensing and geochemistry,” stated Jim Paterson, Chairman & CEO. “The targets exhibit significant scale and strike length, benefit from an excellent location with respect to access, power, and proximity to our other delineated PGE deposits, and importantly remain open for expansion through further geological mapping, prospecting and soil sampling programs prior to drill testing.”

Mendes North Geochemical Program Update

A total of 565 soil sample assays from the three >1 km Mendes North WorldView-magnetic targets have been received, and all three targets returned well-defined, regional (each >750 metres in length) NE-SW-trending linear PGE anomalies. The anomalies remain open between targets, suggesting potential continuity of a >3 km PGE-bearing belt.

Target 1 returned a >820 metre long PGE anomaly which remains open to the northeast. An oblique, 250-metre-long NW-SE-trending gold (Au) anomaly was also defined at Target 1, returning a peak assay of 660 ppb Au. Target 2 comprises two anomalies: one >830 metres in length and open to the NE, and another ~300 metres in length and open to the NE, SE and SW. At Target 3, a >750-metre-long PGE anomaly was delineated which remains open to the SW, NE and E. The four rock samples submitted from Mendes North returned no anomalous PGE grades. See Table 1 below for a summary of 2PGE- and Au-in-soils results, and CLICK HERE to view all figures related to this news release.

Table 1: Summary Table Soil Sample Assays

2PGE+Au Range (ppb)	Number of Samples
51 – 660	3
21 – 50	19
11 – 20	41
5 – 10	55
< detection limit	446

Follow-up geological mapping, prospecting, and geochemical sampling will be immediately undertaken to extend and delineate the Mendes North PGE- and Au-in-soils anomalies. The program will test potential continuity between anomalies in Targets 1, 2 and 3, which comprise a cumulative strike length of >3 km.

ValOre’s 2020 3D magnetic inversion modelling of historical ground geophysical data defined multiple compelling near surface >1 km targets. Mendes North is undrilled and has seen no historical geochemical sampling or geological mapping. An additional 2.0 km by 1.2 km WorldView-magnetic anomaly is situated approximately 1 km to the northwest of the three Mendes North targets.

Access to the Mendes North target area is excellent, with all three targets being situated adjacent to or within 200 metres of a main roadway.

Background 2PGE+Au levels of country rock throughout the three target areas returned values below detection limits (<5 ppb) for Pd, Pt and Au.

Assay Methodology & 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 are 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, Minas Gerais. 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 Quality Control/Quality Assurance program (“QA/QC”). All samples associated with the gold anomaly in Target 2 (samples 81808-81818) were re-analyzed to ensure accuracy. No QA/QC issues were noted with the results reported herein.

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 are thereafter sent with an ensured chain of custody to SGS Vespasiano, Minas Gerais for analysis, which is accredited mineral analysis laboratory. All samples are 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. is if Pt and/or Pd is over 1ppm, the sample is analyzed for Rh using NiS Fire Assay-ICP-MS techniques. Certified PGE ore reference standards, blanks and field duplicates are inserted as a part of ValOre’s quality control/quality assurance program (QA/QC). No QA/QC issues were noted with the results reported herein.

Qualified Person

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., who oversees New Project Review for ValOre.

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 38 exploration licenses covering a total area of 38,940 hectares (96,223 acres) in northeastern Brazil. At Pedra Branca, five distinct PGE+Au deposit areas host, in aggregate, a NI 43-101 Inferred Resource of 1,067,000 ounces 2PGE+Gold (Palladium, Platinum and Gold; Pd, Pt+Au) contained in 27.2 million tonnes (“Mt”) grading 1.22 grams 2PGE+Gold per tonne (“g 2PGE+Au/t”) (see ValOre’s July 23, 2019 news release). PGE mineralization outcrops at surface and all of the inferred resources are potentially open pittable.

Comprehensive exploration programs have demonstrated the "District Scale" potential of ValOre’s 89,852-hectare Angilak Property in Nunavut Territory, Canada that hosts the Lac 50 Trend having a NI 43‐101 Inferred Resource of 2,831,000 tonnes grading 0.69% U₃O₈, totaling 43.3 million pounds U₃O₈. ValOre's. For disclosure related to the inferred resource for the Lac 50 Trend uranium deposits, please refer to ValOre's news release of 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 toll free at 1.888.331.2269, at 604.646.4527, or by email at [email protected].

ValOre Metals Corp. is a proud member of Discovery Group. For more information please visit: 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 the Company 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) ValOre today announced a significant strengthening of the Company’s technical team and an update on the 2020 core drill program for ValOre’s 100%-owned Pedra Branca Platinum Group Element Project (“PGE”, “2PGE+Au”) in northeastern Brazil.

Key Updates on ValOre’s 2020 PGE Exploration Programs:

ValOre’s technical team grows to include technical advisors Robert A. Brozdowski, Ph.D., P.Geo., Robert Carpenter, Ph.D., P.Geo., and in-country Project Geologist, Thiago Diniz, P.Geo.;
Selection of Servitec Foraco for upcoming drill program, with mobilization of drill rig and crews initiated immediately, with an expected drill-ready timeline of three weeks;
For overview of the proposed 2020 exploration program at Pedra Branca, please see ValOre news release from April 27, 2020

“We are very proud of the technical team ValOre has now assembled, including the great minds and highly relevant experience of Dr. Robert Brozdowski and one of ValOre’s founders, Dr. Robert Carpenter. Colin Smith has effectively quarterbacked a world class team of in-house professionals and external consultants that have systematically extracted significant value from the Pedra Branca data set to-date. With the recent addition of the Brazilian expertise of Thiago Diniz, the team is now in the position to deploy a carefully constructed, high impact exploration program at Pedra Branca,” stated Jim Paterson, Chairman & CEO. “We look forward to a productive and safe working relationship with Servitec-Foraco as we commence our highly anticipated drill program at Pedra Branca – a district scale palladium/platinum project in north-eastern Brazil.”

ValOre Bolsters Technical Team

ValOre has added significant strength to the Company’s technical team with consulting exploration geologists and technical/corporate advisors Robert A. Brozdowski, Ph.D., P. Geo., and Robert Carpenter, Ph.D., P. Geo., bringing a combined 55+ years of exploration experience, direct expertise with PGE-enriched ultramafic systems, and a track record of significant discoveries. In addition, ValOre has hired an in-country Project Geologist, Thiago Diniz, M.Sc., P.Geo., to assist in the execution and management of upcoming 2020 exploration programs. They join Colin Smith, M.Sc., P.Geo., who oversees New Project Review for ValOre. See About ValOre’s Technical Team below.

2020 Drill Program Update

ValOre has an agreement with drilling company Servitec Foraco Sondagem SA (“Servitec-Foraco”) to complete a 6,000 metre core drill program at Pedra Branca. Mobilization of a drill rig and crews will commence immediately, with an expected start of drilling in 3 weeks for the fully permitted, two-Phase program (Phase 1 and Phase 2 totaling 2,875m and 3,035m, respectively).

About Servitec-Foraco Sondagem SA

Servitec-Foraco is a Brazilian company based in the State of Goiás that started operating as Servitec in 2000 and through innovation, investment, and continuous improvement, emerged as one of the pioneers of drilling in Brazil. With a prominent position on the national scene, Servitec was acquired in 2012 by one of the global drilling leaders, Foraco International, forming Servitec-Foraco.

Servitec-Foraco has more than 700 employees and 90 drill rigs, and operates throughout Brazil with clients such as Nexa Resources S.A., NX Gold S.A., Lundin Mining Corporation, CMOC Brasil. Servitec-Foraco is committed to conducting drill programs with high levels of productivity, safety and respect for the environment and legislation.

ValOre and Servitec-Foraco COVID-19 Protocols

ValOre and Servitec-Foraco are closely monitoring impacts on the companies’ operations and business preparedness plans, as the health and safety of employees, contractors and associated communities is a top priority.

As part of the safety protocol, the companies have implemented screening procedures, daily temperature monitoring, self-assessment checklist and issued directives regarding social distancing to ensure a safe environment for operations.

Servitec-Foraco has an extensive procedural guide on hygiene and conduct to be adopted on a daily basis 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.

About ValOre’s Technical Team

Robert A. Brozdowski, Ph.D., P. Geo., Consulting Exploration Geologist

Dr. Brozdowski has more than 30 years of diverse exploration experience emphasizing Ni-Cu-PGE in magmatic conduits, zoned and layered intrusions, but also including orogenic gold, uranium, VMS, SEDEX, and IOCG deposits. He worked for Callahan Mining Corp. from 1983-1991 and subsequently with Western Mining Corporation (later WMC) from 1992-1998 with a focus on generative and early stage exploration. As a consulting exploration geologist since 1998, Bob has been involved in regional project generation, integrated regional field programs, and property-scale exploration projects for major, junior and private clients in North and South America, Asia and Europe and was granted hisPh.D. Geology from Western University, London, ON, his M.A. Geology fromTemple University, Philadelphia, PA), and a B.S. Geosciences from Pennsylvania State University.

Robert Carpenter, Ph.D., P. Geo., Consulting Exploration Geologist

With over 25 years of technical and executive experience for junior and major mining companies, Dr. Carpenter was co-founder and President and CEO of Kaminak Gold Corporation from 2005 to 2013 and led the company through the acquisition, discovery and maiden resource of the 5 million ounce Coffee Gold Project, located in the White Gold District, Yukon. This project was subsequently acquired by Goldcorp Inc. in 2016. Rob was also a founder of ValOre’s predecessor company “Kivalliq Energy Corporation”, when Kivalliq Energy was spun out of Kaminak via a plan of arrangement in 2008; thus his history with ValOre and his significant executive experience make him a trusted corporate advisor.

Dr. Carpenter has received awards from the Association for Mineral Exploration of British Columbia for excellence in mineral exploration (2013) and social and environmental stewardship (2008). In 2004, he completed his Ph.D. at Western University, London, Ontario where he worked on the newly discovered Meliadine Lake gold deposits that are currently owned by Agnico Eagle Mines Limited.

Thiago Diniz, M.Sc., P.Geo., Project Geologist

Mr. Diniz is a Brazilian exploration geologist with 7 years of experience working on the exploration and development stages of fertilizer, base and precious metals projects, both in Brazil and Canada. Thiago holds a B.Sc. degree in Geology from Universidade Federal de Minas Gerais (2013) and obtained a M.Sc. degree in Economic Geology at Queen’s University, Kingston, in 2019. Former Geologist for the Canadian Forbes & Manhattan Group in Brazil, he participated on the resource delineation of the world-class Autazes Potash deposit, in the Amazon region, and the carbonatite-hosted Três Estradas phosphate deposit, in southern Brazil. Most recently, he has actively been involved on the resource expansion of the Troilus Au-Cu deposit, hosted in the Archean Frotet-Evans greenstone belt, in Quebec, Canada. Thiago has acquired extensive experience in field mapping and core logging, development and management of drilling, QA/QC and geochemical sampling programs, as well as metallurgical and geotechnical sampling for pre-feasibility and feasibility studies. He is a practicing member (P.Geo.) of the Professional Geoscientists of Ontario.

Colin M. Smith, M.Sc., P.Geo., New Project Review

Mr. Smith is a P.Geo. in British Columbia, Saskatchewan, and the Northwest and Nunavut Territories with over 15 years’ experience developing, executing, and managing exploration campaigns ranging from green-fields target generation to near-mine resource delineation. He has developed a technical expertise in structurally controlled gold deposits, PGEs, porphyry Cu-Au systems, kimberlites, unconformity-hosted uranium and coal-bed methane. Colin obtained his B.Sc. in Geology from the University of British Columbia, his M.Sc. in Geology from the University of Victoria. His most recent role was Senior Exploration Geologist with SSR Mining Inc. at their Seabee Gold Operation in northern Saskatchewan, where he designed and advanced green- to brown-fields exploration programs, resulting in multiple auriferous discoveries and definitive resource delineation.

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 NI 43-101 Inferred Resource of 1,067,000 ounces 2PGE+Gold (Palladium, Platinum and Gold; Pd, Pt+Au) contained in 27.2 million tonnes (“Mt”) grading 1.22 grams 2PGE+Gold per tonne (“g 2PGE+Au/t”) (see ValOre’s July 23, 2019 news release). PGE mineralization outcrops at surface and all of the inferred resources are potentially open pittable.

Comprehensive exploration programs have demonstrated the "District Scale" potential of ValOre’s 89,852-hectare Angilak Property in Nunavut Territory, Canada that hosts the Lac 50 Trend having a NI 43‐101 Inferred Resource of 2,831,000 tonnes grading 0.69% U3O8, totaling 43.3 million pounds U₃O₈.For disclosure related to the inferred resource of ValOre's Lac 50 Trend uranium deposits, please refer to ValOre's news release of March 1, 2013.

On behalf of the Board of Directors,

"Jim Paterson"

James R. Paterson, Chairman and CEO

ValOre Metals Corp.

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

Vancouver, B.C. ValOre Metals Corp. ("ValOre"; TSX‐V: VO; OTCQX: KVLQF; FRANKFURT: KEQ0) today announced results from 54 grab samples, provided an update on the Mendes North geochemical sampling program, and commenced the initiation of a metallurgical testwork program for ValOre’s 100%-owned Pedra Branca Platinum Group Elements Project (“PGE”), located near the community of Capitão Mór in northeastern Brazil.

Key Updates on ValOre’s 2020 Pedra Branca PGE Exploration Program:

“2PGE+Au” (being palladium (Pd), platinum (Pt) and gold (Au)) assay results have been received for 54 property-wide rock samples, with the highest grade sample exceeding 26 g 2PGE+Au/t, 4 samples >10 g 2PGE+Au/t, 6 samples ranging from 5-10 g 2PGE+Au/t, and an additional 27 samples returning anomalous 2PGE+Au grades;
598 soil samples from the Mendes North geochemical program have been received by the lab with analytical results expected within 2 weeks;
SGS Lakefield, Ontario will be conducting metallurgical testing on select mineralized samples from 43-101 deposit areas at Pedra Branca, testing the amenability of Falcon UF gravity separation and PLATSOL™ leaching.

“Our team continues to demonstrate the widespread and high-grade mineralization at ValOre’s 100% owned Pedra Branca PGE project,” stated Jim Paterson, Chairman & CEO. “In combination with the planned drill program, the initiation of metallurgical test work will greatly increase our understanding and help us accelerate the advancement of this exciting project.”

Property-Wide Grab Sample Results

Assay results for 54 rock samples collected from property-wide exploration targets and resource areas have been received. A total of 37 samples returned anomalous 2PGE+Au grades, with a peak grade of 26.66 g 2PGE+Au/t from a grab sample in the Trapia West deposit area.

Multiple high-grade rock samples were collected from widely spaced exploration targets spanning the project, including Trapia 1 North, Massapê, and Esbarro West. In addition, several target areas slated for 2020 core drilling returned strong 2PGE+Au results, including Esbarro East, Cana Brava and Santo Amaro. See Table 1 below for a summary of 2PGE+Au results, CLICK HERE for the full list of assays, and CLICK HERE to view all figures related to this news release.

Table 1: Summary of Grab Sample 2PGE+Au Assays

2PGE+Au Range	Number of Samples
>10 g/t	4
5.0 – 10 g/t	6
*1.22 – 5.0 g/t	12
0.03-1.22* g/t	15
barren	16

*1.22 is the average 43-101 resource grade – See ValOre news release July 23, 2019

Selective rock grab samples were 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 sent with an ensured chain of custody to SGS Geosol Laboratórios Ltda. (“SGS Geosol”, an accredited mineral analysis laboratory) in Vespasiano, Minas Gerais, Brazil for analysis. All samples were analyzed for 2PGE+Gold (Pd, Pt, Au) content using standard Fire Assay and ICP techniques. Chromium values that exceeded 5% were redirected to ore-grade pyrosulfate fusion and XRF techniques to determine %Cr₂O₃. Certified PGM ore reference standards, blanks and field duplicates were inserted as a part of ValOre’s Quality Control/Quality Assurance program (QA/QC). No QA/QC issues were noted with the results reported herein.

Mendes North Geochemical Program Update

All 598 soil samples from the three >1km Mendes North WorldView-magnetic anomaly targets have been received by SGS Geosol and assaying has commenced. Analytical results are expected within 2 weeks.

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. All samples are being analyzed for 2PGE+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 Quality Control/Quality Assurance program (“QA/QC”).

Upcoming Metallurgical Test Work Program Initiated

ValOre has engaged SGS Canada Inc. of Lakefield, Ontario to conduct preliminary metallurgical tests on mineralized samples from designated 43-101 deposit areas. Falcon UF gravity separation test work will be performed to characterize the metallurgical balance relating PGE mass recoveries. In addition, PLATSOL™ leaching will be tested to follow up and corroborate previous findings of this metallurgical processing technique. Further information about PLATSOL™ and Falcon UF can be found in the links below:

PLATSOL™: https://www.sgs.ca/en/mining/metallurgy-and-process-design/unit-operations-and-metallurgical-services/pressure-and-ambient-leaching/platsol

Falcon UF: https://minerals.seprosystems.com/equipment/falcon-uf-gravity-concentrators/

Sampling of historical mineralized drill core from the Esbarro and Curiu deposits, and outcrop sampling of the Curiu and Trapia West deposits is now complete, and samples have been shipped for preliminary analytical work to the SGS facility Vespasiano, Minas Gerais prior to shipment to SGS Canada.

Qualified Person

About ValOre Metals Corp.

Comprehensive exploration programs have demonstrated the "District Scale" potential of ValOre’s 89,852-hectare Angilak Property in Nunavut Territory, Canada that hosts the Lac 50 Trend having a NI 43‐101 Inferred Resource of 2,831,000 tonnes grading 0.69% U3O8, totaling 43.3 million pounds U₃O₈. For disclosure related to the inferred resource of ValOre's Lac 50 Trend uranium deposits, please refer to ValOre's news release of March 1, 2013.

On behalf of the Board of Directors,

"Jim Paterson"

James R. Paterson, Chairman and CEO

ValOre Metals Corp.

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

Targeting Methodology at Pedra Branca

Vancouver, B.C. ValOre Metals Corp. ("ValOre" or the “Company”; TSX‐V: VO) today announced board approval for the proposed 2020 core drilling exploration program at ValOre’s 100%-owned Pedra Branca Platinum Group Element Project (“PGE”, “2PGE+Au”) in northeastern Brazil. ValOre also announced that it has entered into a C$1.2 million unsecured revolving credit facility to fully fund the first phase of the proposed drill program at Pedra Branca.

“We are excited to begin drilling Pedra Branca and to really showcase the compelling potential of our PGE project,” stated Jim Paterson, Chairman & CEO. “We have identified many new high-priority targets in our two-phase program, which is designed to expand the current resource, advance existing targets and test undrilled areas. With $1.2 million in funding now committed, we can ramp up exploration activities at Pedra Branca and begin the process of safely mobilizing drill rigs and personnel to Pedra Branca.”

Pedra Branca 2020 Drill Program

The proposed fully-permitted drill program is comprised of two phases, with 2,875 metres in (“Phase 1”) and 3,035 metres in (“Phase 2”), and a scheduled start of Phase 1 in June. Details of each phase, including targets, total meters and number of drill holes are summarized in Figure 1 and Table 1 below.

Highlights of the Proposed 2020 Pedra Branca PGE Drill Program:

Comprised of two successive, fully permitted phases, totaling approximately 2,875 m and 3,035 m, respectively, for a total of 5,910 m;
Focused on three target classes:
- Resource Expansion;
- New Discovery (undrilled targets); and
- Target Advancement (following-up historical drill intercepts at pre-resource targets)
Phase 1 (fully funded) is planned to test 7 distinct target areas with 23 total core drill holes, and Phase 2 is planned to test 4 distinct target areas with 24 total drill holes, with an average hole length of 125m for both phases, reflecting the shallow nature of Pedra Branca PGE mineralization;
All access and drill hole locations have been visited by a registered Brazilian environmental consultancy (SSA Consultoria) and classified as “without need for vegetation suppression” by re-activating existing access routes, utilizing pre-existing drill pad sites and the presence of extensive agricultural development in the region;
Access to, and approval for drill water supply from local reservoirs has been secured;
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.

Figure 1: Location of Proposed Phase 1 and Phase 2 Drill Targets; Mendes North

Table 1: Summary Table of Phase 1 and Phase 2 Drill Programs

Mendes North Update

Soil sampling at the three Mendes North PGE targets (“Mendes North”) is on-going and near-completion, with Targets 1 and 2 sampled in full, and Target 3 to be completed by the end of next week. As announced in ValOre’s March 30, 2020 press release, these three >1km PGE targets were identified using WorldView True-Colour imagery, WorldView spectral data and re-processed ground magnetic geophysical data. Further, ValOre generated a 3D magnetic inversion model of the Mendes North target area which delineated the WorldView-mag anomalies as compelling near surface targets. Approximately 600 samples will be collected (with a total of 453 collected to date) and consigned to SGS Geosol Laboratórios Ltda. (“SGS Geosol” an accredited mineral analysis laboratory) in Vespasiano, Minas Gerais for assay.

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 are subsequently stored in a secure ValOre facility in Capitão Mor, Ceará, Brazil and thereafter sent with an ensured chain of custody to SGS Geosol. 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 Quality Control/Quality Assurance program (“QA/QC”).

Financing

To finance its corporate and exploration activities for the coming year, ValOre has entered into an unsecured revolving credit facility with Jim Paterson, the Company’s Chairman and CEO, pursuant to which the Company may borrow up to $1.2 million on a revolving basis. ValOre will pay to Mr. Paterson a standby fee of $24,000 (2% of the committed facility) and interest of 10% per annum on amounts drawn down under the facility. ValOre has agreed to use commercially reasonable efforts to complete an equity financing prior to December 31, 2020 in an amount sufficient to repay amounts borrowed under the facility.

Qualified Person

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in NI 43-101 and this news release has been reviewed and approved by Colin Smith, P.Geo., who oversees New Project Review for ValOre.

About ValOre Metals Corp.

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 NI 43‐101 Inferred Resource of 2,831,000 tonnes grading 0.69% U₃O₈, totaling 43.3 million pounds U₃O₈. ValOre's. For disclosure related to the inferred resource for the Lac 50 Trend uranium deposits, please refer to ValOre's news release of March 1, 2013.

On behalf of the Board of Directors,

"Jim Paterson"

James R. Paterson, Chairman and CEO

ValOre Metals Corp.

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

Vancouver, B.C. ValOre Metals Corp. ("ValOre"; TSX‐V: VO) ValOre today provided an update to shareholders. ValOre’s team continues to leverage its extensive database for its 100%-owned Pedra Branca Platinum Group Elements Project (“PGE”, “2PGE+Au”) and has uncovered additional significant exploration targets and opportunities.

ValOre’s team have identified three separate, large-scale PGE targets collectively called “Mendes North” (see Figure1 below), which warrant immediate geochemical soil sampling and prospecting programs prior to drill testing.

Highlights of the new Mendes North PGE Targets:

Three newly identified large-scale PGE targets, all >1 km in strike length;
Excellent access – all three are located within a 4.0 by 2.5 km area and are adjacent to, or within 200 meters of, a main road;
2020 3D magnetic inversion modelling of historical ground geophysical data has defined multiple compelling near-surface PGE targets;
All magnetic anomalies are situated in a broad area of radiometric low, indicative of prospective regional mafic to ultramafic Troia Unit;
WorldView spectral data bolsters prospectivity of the targets by indicating probable ultramafic intrusions – all 4 ultramafic and chromitite spectral classes coincide with the mag high anomalies, and the prospective ultramafic areas are evident as anomalously dark brown-coloured areas in the true-color WorldView imagery;
There is no known historical geochemical sampling or geological mapping in the Mendes North area, and this is the first 3D magnetic inversion preformed on the Mendes North dataset;
All three targets contained within the Mendes North area warrant a rapid and low-cost soil sampling and prospecting campaign to further refine the specific targets prior to drill testing;
An additional 2.0 by 1.2 km magnetic anomaly is situated approximately 1 km to the northwest of the 3 previously described targets and warrants reconnaissance exploration as well.

ValOre also announces that it has been closely monitoring developments of the novel coronavirus pandemic (“COVID-19”). ValOre considers health and safety a top priority for its people and in the communities in which it works.

ValOre is encouraging its employees, contractors, and partners to work remotely and follow the World Health Organization and Public Health Agency of Canada best practices to avoid catching the virus.

ValOre has initiated the following health and business precautions:

Vancouver office: employees and consultants are working remotely and the corporate office in Vancouver has been temporarily closed;
Brazil: cancelled all non-essential travel from Fortaleza into site in favour of video conferencing. To date, there have been no confirmed cases in Capitão Mor (nearest town to ValOre’s Pedra Branca project) at this time; however, while conducting any fieldwork, ValOre personnel will be encouraged to follow and exceed Brazil’s government health and safety policies and guidelines;
Nunavut and Saskatchewan: no planned activities given the season, but will monitor the situation closely going forward and follow government health and safety recommendations.

ValOre is committed to reducing the health risk to its stakeholders and will continue to work proactively through these tumultuous times. ValOre, as part of Discovery Group, has great access to capital and strong support from insiders and major shareholders.

Figure 1: Summary of Mendes North Exploration Targets, with comparison to the NI 43-101 2PGE+Au Esbarro Deposit

About ValOre Metals Corp.

Comprehensive exploration programs have demonstrated the "District Scale" potential of ValOre’s 89,852-hectare Angilak Property in Nunavut Territory, Canada that hosts the Lac 50 Trend having a NI 43‐101 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 refer to ValOre's news release of March 1, 2013.

On behalf of the Board of Directors,

"Jim Paterson"

James R. Paterson, Chairman and CEO

ValOre Metals Corp.

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

ValOre Metals, CEO, Jim Paterson: It’s Bargain Hunting Season for Junior Miners

Vancouver, B.C. ValOre Metals Corp. (TSX‐V: VO) ("ValOre") today announced initial rhodium (Rh) assay results for 51 historical, pulverized drill core samples (pulps) from the Pedra Branca Platinum Group Elements and Gold (PGE+Au) project in northeastern Brazil. This is the first-time rhodium has been assayed in drill core at Pedra Branca.

Key Point Summary:

Rhodium is a rare and valuable platinum group metal. The spot price of which has risen dramatically over the past 18 months from below US$4,000 per ounce in mid-2019 to the current price of US$11,500;
Rhodium mineralization has not been previously documented in drill core assays from Pedra Branca;
A strong correlation was noted between 2PGE+Au grade (palladium + platinum + gold) and rhodium grade, with the 5 highest-grade 2PGE+Au pulps exhibiting 4 of the highest Rh assay values;
The Esbarro deposit returned the best results, with 6 of 8 pulps over the detection limit, including the highest-grade assay of 1.44 grams Rh/tonne, and the highest average grade (0.35 g Rh/t);
21 of the 51 pulps (41%) collected from five deposit areas making up the global NI 43-101 2PGE+Au inferred resource returned rhodium values over detection limit (0.01 g Rh/t).

ValOre’s Chairman and CEO, Jim Paterson stated: “Rhodium was previously undocumented in drilling related data at Pedra Branca; however, with these results we can see the correlation between the higher grades of palladium, platinum and rhodium in drill core and our team is excited to utilize this knowledge to help us in the exploration and discovery process on a regional scale.”

Fifty-one (51) historical Pedra Branca drill core pulp samples were submitted for rhodium assay at SGS Geosol, Minas Gerais. Batches of approximately 10 pulps from each of the existing five NI 43-101 PGE+Au deposits were selected on the following basis: a range of 2PGE+Au grades (from >2 to >44 g/t) and intercept depths (from near surface to >86m) to assess trends in rhodium distribution. A strong positive correlation of Rh grade to 2PGE+Au grade was evident, with the 5 highest-grade 2PGE+Au samples returning 4 of the highest Rh values. There was no observable trend in Rh grade distribution based on drill intercept depth.

The Esbarro deposit (394,000oz at a grade of 1.23 g 2PGE+Au/t) returned the best results, with 6 of 8 pulps assaying greater than detection limits, the highest-grade Rh assay (1.44 g Rh/t), and the highest average grade (0.35 g Rh/t). The Cedro deposit (151,000oz at a grade of 1.10 g 2PGE+Au/t) performed second-best, with 6 of 11 pulps assaying over detection, and the Curiu (100,000 oz @ 1.93 g 2PGE+Au/t) and Trapia (219,000 oz @ 1.11 g 2PGE+Au/t) deposits returned 4 of 8 and 4 of 12 pulps over detection, respectively. The Santo Amaro deposit (203,000oz at a grade of 1.19 g 2PGE+Au/t) returned no assays over Rh detection limit.

Rhodium assay results (SGS Geosol, Minas Gerais) from historical Pedra Branca drill core pulps are summarized in the following table:

Deposit	Drill Hole	Sample	Depth From (m)	Depth To (m)	Historical Pd+Pt+Au (g/t)	Rh (g/t)
Esbarro	DD04ES35	90643	5.60	6.10	44.24	1.44
	DD03ES15	89715	33.00	34.00	6.01	0.39
	DD03ES31	90544	46.60	48.07	7.68	0.34
	DD99ES05	89210	49.46	50.30	10.39	0.31
	DD03ES11	89486	29.24	30.11	2.78	0.24
	DD04ES35	90644	6.10	8.10	10.16	0.04
	DD03ES21	90071	2.30	4.00	3.34	<0.01
	DD03ES31	90541	43.00	44.90	2.16	<0.01
Cedro	DD10CD86	87290	42.41	43.38	15.75	1.27
	DD10CD89	87354	25.30	26.00	20.12	0.87
	DD04CD18	91595	24.21	25.09	2.64	0.07
	DD01CD04	90996	22.14	23.00	11.16	0.05
	DD01CD03	90971	54.00	56.00	2.67	0.01
	DD01CD05	91071	83.40	83.90	9.32	<0.01
	DD10CD89	87345	14.30	16.00	5.39	<0.01
	DD10CD79	87203	21.60	23.60	4.87	<0.01
	DD01CD05	91082	95.41	96.64	3.29	<0.01
	DD01CD05	91073	84.90	86.28	2.31	<0.01
Trapia	DD09TU09	86012	42.81	43.53	5.76	0.27
	DD04TU04	92565	85.57	86.50	3.25	0.16
	DD01TW10	92891	42.46	43.46	3.17	0.04
	DD09TW16	86054	36.29	36.79	7.69	0.01
	DD99TW03	92779	19.81	20.39	5.56	<0.01
	DD01TU03	92631	116.45	117.23	4.41	<0.01
	DD99TW01	92678	11.45	12.42	3.30	<0.01
	DD99TW07	92832	35.35	37.00	3.11	<0.01
	DD07TW12	82405	14.65	15.31	2.81	<0.01
	DD01TU02	92482	84.23	85.57	2.71	<0.01
	DD01TU02	92481	82.79	84.23	2.25	<0.01
	DD99TW04	92734	51.43	52.73	2.06	<0.01
Curiu	DD04CU16	93313	1.74	3.00	7.89	0.17
	DD03CU13	93207	7.79	9.19	20.45	0.08
	DD03CU10	93122	67.40	68.00	3.35	0.03
	DD04CU15	93283	1.25	3.11	3.63	0.02
	DD03CU12	93180	38.33	39.33	6.90	<0.01
	DD03CU10	93124	69.53	70.24	4.14	<0.01
	DD03CU12	93186	44.88	45.81	3.80	<0.01
	DD03CU11	93134	19.00	21.00	2.54	<0.01
Santo Amaro	DD02SA02	93385	26.70	27.86	18.02	<0.01
	DD04SA08	93532	109.75	110.25	8.66	<0.01
	DD02SA02	93386	27.86	29.70	6.64	<0.01
	DD02SA02	93393	39.00	40.40	3.80	<0.01
	DD04SA08	93544	132.00	133.20	3.66	<0.01
	DD02SA06	93601	55.00	55.58	2.18	<0.01
	DD02SA02	93387	29.70	31.00	2.13	<0.01
	DD02SA02	93433	87.65	89.15	2.05	<0.01

Further supporting ValOre’s initial review of Rh at Pedra Branca is an independent petrographic and x-ray diffraction (XRD) study conducted by Pathor Geological Consulting Ltd. at the University of Western Ontario in September, 2019. Pathor’s research identified As-Rh-bearing mineral inclusions and Bi-Pd tellurides occurring as anhedral or stringy inclusions within rims and cores of chromite, pyrite, and pentlandite (Banerjee and Botor, 2019).

While Rh in drill core or in soils has not been previously analyzed at Pedra Branca, there are some historical rock assay datasets that reported rhodium values. The historical Rh-in-rock data exhibits the positive correlation to high-grade 2PGE+Au rock samples, as illustrated in Figure 1.

Figure 1: Rhodium-in-Rock Sampling Data in the Central Pedra Branca PGE+Au District

About Rhodium

Rhodium is the rarest of the platinum group metals, 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 (~4%), Canada and the U.S.A.

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in NI 43-101 and reviewed and approved by Colin Smith, P.Geo., New Project Review, ValOre Metals Corp.

Historical Pedra Branca drill core pulps were collected from the secured core logging and storage facility located in Capitão Mór, Ceará, Brazil. Selected pulp samples were sent with an ensured chain of custody to SGS Geosol, Vespasiano, Minas Gerais (Brazil) for analysis, which is accredited mineral analysis laboratory. All pulp samples were analyzed for Rh content using standard 50g 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 (QA/QC). No QA/QC issues were noted with the results reported herein.

Please visit ValOre’s website to view an updated corporate presentation and Pedra Branca project summary: http://www.valoremetals.com/investors/presentations-downloads/

About ValOre Metals Corp.

On behalf of the Board of Directors,

"Jim Paterson"

James R. Paterson, Chairman and CEO

ValOre Metals Corp.

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

Vancouver, B.C. ValOre Metals Corp. (TSX‐V: VO) (“ValOre”) today announced receipt of grab sample assay results from the newly-defined “C04” exploration target, as well as high-quality 3D magnetic inversion models for all five National Instrument 43-101 (“NI 43-101”) deposit areas at the Pedra Branca project located in Brazil.

Key Point Summary:

Exploration targeting methodology successfully implemented;
Database-wide review of recently reprocessed magnetic anomalies (Anglo American’s airborne survey, 2013) combined with priority chromitite and ultramafic targets from satellite imagery (WorldView data, 2019);
Field identification of chromitite mineralization and other coarse-grained cumulate ultramafic rocks at the C04 anomaly;
Four of four grab samples from C04 returned compelling platinum group metals and gold (“PGM+Gold”) assay results;
ValOre crew now identifying optimal drill hole locations for a 2020 resource expansion and exploration drilling program;
At Pedra Branca, the five distinct PGM deposit areas hosting the NI 43-101 inferred resource estimate are road or dirt track accessible. The project area is a 4-hour drive on paved highways from the city of Fortaleza.

ValOre’s Chairman and CEO, Jim Paterson commented: “ValOre’s technical team has made tremendous progress in organizing, reviewing, and understanding a literal ‘treasure trove’ of data generated at Pedra Branca by previous exploration groups. It is very exciting to recognize that, in the case of C04, we have an exploration methodology that works so efficiently and effectively. We believe Pedra Branca is a target-rich environment which hosts a ‘discovery pipeline’ with the potential to add significant value for our shareholders.”

Four grab samples were submitted to SGS Canada for analysis, and all returned compelling PGM+Gold results of up to 7.945 g/t. Assay results for all submitted samples are summarized in the following table:

Sample	Au (ppb)	Pt (ppb)	Pd (ppb)	PGM+Gold (ppb)	PGM+Gold (g/t)
B-C4-11-A	23	7616	306	7945	7.945
B-C4-11-B	13	2039	338	2390	2.390
B-C4-11-C	52	2125	142	2319	2.319
B-C4-11-D	13	2722	301	3036	3.036

Summary of assay results from four submitted grab samples at the C04 exploration target, Pedra Branca project (SGS Canada Inc.)

C04 was the inaugural test case of pure greenfields targeting for ValOre at Pedra Branca, involving investigations of discrete reduced to pole (RTP) magnetic anomalies, derived from re-processing of Anglo American’s airborne magnetic survey, combined with targeting priorityclasses of spectral chromitite and ultramafics, which were derived from 2019 WorldView satellite data. This led to the field identification of chromitite mineralization and other coarse-grained cumulate ultramafic rocks at the C04 anomaly located approximately 5 km north of the Esbarro Deposit (2019 NI 43-101 resource of 394 Koz PGM+Gold; see ValOre news release, July 23, 2019) in rolling brush-covered terrain. The four samples were collected at surface from the center of the C04 magnetic anomaly which coincided with the multi-class WorldView spectral chromitite targets.

ValOre’s identification of C04 is significant, as there were no mapped ultramafic rocks, and no historical soil, rock or stream sediment data related to this target area in the existing database. The chromitite discovery was achieved solely by using ValOre’s re-processed RTP aeromagnetic and WorldView spectral data, thus successfully confirming ValOre’s exploration methodology. ValOre geologists encountered evidence of historical exploration at C04 that predates the existing database: a 2m x 2m x 4m pit, and adjacent trench. It is likely that this historical work was performed by Gencor in the late 1980s, and never incorporated into the existing database. Given the encouraging assay results returned from C04, it will be added to the list of exploration targets selected for 3D magnetic inversion modelling and potential subsequent drill testing.

This sets the stage for the follow-up of numerous other pure greenfields targets in the region, with significant implications for expanding the exploration and development potential of Pedra Branca. ValOre is acquiring WorldView data for 643 km² of highly-prospective terrain – a dataset that is now proven effective at PGM+Gold discovery when paired with the recently re-processed 652 km² airborne magnetic data.

Further, ValOre broadened its geophysical dataset by procuring and re-processing raw data from 39 historical ground magnetics surveys. This includes multiple target areas outside of the airborne block, and facilitates the merging of airborne and ground magnetic datasets to yield a highly-refined geophysical targeting product.

ValOre has also just received detailed 3D magnetic inversion models for all five NI 43-101 PGM+Gold deposit areas. High-quality merged airborne and ground magnetic data facilitated modeling and interpretation to a 10m x 10m x 10m cell size, and multiple un-drilled resource expansion targets have been identified at all five deposits. Fifteen additional high-priority exploration targets (external to the NI 43-101 resource) have been selected and submitted for detailed 3D magnetic inversion modelling.

A ValOre crew is currently on site with a goal of identifying optimal drill hole locations for a 2020 resource expansion and exploration drilling program. Details on the drill program size and budget will be announced in Q1 2020.

The Pedra Branca project is a Platinum Group Metals (“PGM”) District located in northeastern Brazil covering a total area of 38,940 hectares (96,223 acres) that includes 38 exploration licenses. The independent NI 43-101 resource estimate (See ValOre news release July 23, 2019) is comprised of 5 distinct deposit areas which host, in aggregate, an inferred resource of 1,067,000 ounces PGM+Gold (Palladium, Platinum and Gold; Pd, Pt+Au) in 27.2 million tonnes (“Mt”) grading 1.22 grams PGM+Gold per tonne (“g PGM+Au/t”). PGM mineralization outcrops at surface and all of the known inferred resources are potentially mineable by open pit methods.

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, Ceara, Brazil. The samples are thereafter sent with an ensured chain of custody to SGS Canada Inc. in Lakefield, Ontario for analysis, which is accredited mineral analysis laboratory. All samples are analyzed for PGM+Gold (Pd, Pt, Rh, Au) content using standard 50g Fire Assay and ICP-AES techniques. If Pt and/or Pd is over 1%, the sample is analyzed for Rh using NiS Fire Assay-ICP-MS techniques. Cr values that exceed 5% are redirected to ore grade pyrosulfate fusion and XRF techniques. Certified PGM ore reference standards, blanks and field duplicates are inserted as a part of ValOre’s quality control/quality assurance program (QAQC). No QAQC issues were noted with the results reported herein.

Please visit ValOre’s website to view an updated corporate presentation and project summary: http://www.valoremetals.com/investors/presentations-downloads/

About ValOre Metals Corp.

ValOre Metals Corp. (TSX‐V: VO) is a Vancouver based 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.

ValOre recently acquired an exciting PGM property, Pedra Branca, in Brazil, to bolster its existing Angilak uranium, Genesis/Hatchet uranium and Baffin gold projects in Canada.

Pedra Branca project is a PGM District located in northeastern Brazil that comprises 38 exploration licenses covering a total area of 38,940 hectares (96,223 acres). At Pedra Branca, five distinct PGM deposit areas host, in aggregate, a NI 43-101 inferred resource estimate of 1,067,000 ounces PGM+Gold (Palladium, Platinum and Gold; Pd, Pt+Au) in 27.2 million tonnes (“Mt”) grading 1.22 grams PGM+Gold per tonne (“g PGM+Au/t”) (see ValOre news release July 23, 2019). PGM mineralization outcrops at surface and all of the inferred resources are potentially mineable by open pit.

ValOre’s 89,852-hectare Angilak Property in Nunavut Territory, hosts the Lac 50 Trend with a NI 43‐101 Inferred Resource of 2,831,000 tonnes grading 0.69% U₃O₈, totaling 43.3 million pounds U₃O₈. ValOre's comprehensive exploration programs have demonstrated the “District Scale” potential of the Angilak Property. For disclosure related to the inferred resource for the Lac 50 Trend uranium deposits, please refer to ValOre's news release of 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, Canada 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.

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

Cautionary Statement on Forward-Looking Statements