ValOre Provides Exploration Update for Pedra Branca PGE Project and Initiates Metallurgical Testwork - Seite 2

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: