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

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

2021 Discovery Pipeline Exploration Highlights:

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

2021 Target Pipeline Summary

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

Trapia South Discovery

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

Esbarro NW

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

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

Massape

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

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

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

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

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

CLICK HERE for a summary of ValOre’s policies and procedures related to QA/QC and grade interval reporting.

Qualified Person (QP)

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in NI 43-101 and reviewed and approved by Colin Smith, P.Geo., ValOre’s QP and Vice President of Exploration.

About ValOre Metals Corp.

ValOre Metals Corp. (TSX‐V: VO) is a Canadian company with a portfolio of high‐quality exploration projects. ValOre’s team aims to deploy capital and knowledge on projects which benefit from substantial prior investment by previous owners, existence of high-value mineralization on a large scale, and the possibility of adding tangible value through exploration, process improvement, and innovation.

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

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

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

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

On behalf of the Board of Directors,

“Jim Paterson”

James R. Paterson, Chairman and CEO

ValOre Metals Corp.

For further information about, ValOre Metals Corp. or this news release, please visit our website at valoremetals.com or contact Investor Relations at 604.653.9464, or by email at [email protected].

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

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains “forward-looking statements” within the meaning of applicable securities laws. Although ValOre believes that the expectations reflected in its forward-looking statements are reasonable, such statements have been based on factors and assumptions concerning future events that may prove to be inaccurate. These factors and assumptions are based upon currently available information to ValOre. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. A number of important factors including those set forth in other public filings could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the future operations of ValOre and economic factors. Readers are cautioned to not place undue reliance on forward-looking statements. The statements in this press release are made as of the date of this release and, except as required by applicable law, ValOre does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. ValOre undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of ValOre, or its financial or operating results or (as applicable), their securities.

Vancouver, B.C. ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today announced additional Platinum Group Element (“PGE”, “2PGE+Au”) assay results from the ongoing 8,000-metre (“m”) drill program at ValOre’s 100%-owned Pedra Branca PGE Project (“Pedra Branca”) in northeastern Brazil.

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

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

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

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

Additional 2021 Trapia 1 Drilling Results

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

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

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

Drill hole DD21TU25

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

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

Drill hole DD21TU27

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

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

Drill hole DD21TU26

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

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

Drill hole DD21TU28

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

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

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

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

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

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

CLICK HERE for a summary of ValOre’s policies and procedures related to QA/QC and grade interval reporting.

Qualified Person (QP)

About ValOre Metals Corp.

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

On behalf of the Board of Directors,

“Jim Paterson”

James R. Paterson, Chairman and CEO

ValOre Metals Corp.

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

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

Highlights of Newly Acquired Ground at Pedra Branca:

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

Pedra Branca Land Acquisition Summary

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

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

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

Northeast Regional Trend

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

Galante North and Galante East

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

Trapia South Extension

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

Mendes North Extension

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

Pitombeiras Southwest

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

ANM Bid Process

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

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

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

About WorldView Spectra Data

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

Qualified Person (QP)

About ValOre Metals Corp.

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

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

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

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

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

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

Initial 2021 Trapia 1 Drilling Results

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

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

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

Drill hole DD21TU21

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

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

Drill hole DD21TU22

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

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

Drill hole DD21TU23

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

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

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

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

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

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

CLICK HERE for a summary of ValOre’s policies and procedures related to QA/QC and grade interval reporting.

Qualified Person (QP)

About ValOre Metals Corp.

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

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)

About ValOre Metals Corp.

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 Metals, Red Cloud 2021 Uranium Conference – May 14, 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

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