ValOre Provides Exploration Update for Pedra Branca PGE Project and Initiates Metallurgical Testwork - Seite 3

PLATSOL: https://www.sgs.ca/en/mining/metallurgy-and-process-design/unit-operat ...

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

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

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, 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.