ValOre Commences Drilling at Pedra Branca PGE Project

VANCOUVER, British Columbia, July 09, 2020 (GLOBE NEWSWIRE) -- ValOre Metals Corp. ("ValOre"; TSX‐V: VO; OTC: KVLQF; FRANKFURT: KEQ0) today announced the commencement of Phase 1 diamond drilling at the Company’s 100%-owned Pedra Branca Platinum Group Element Project (“PGE”, “2PGE+Au”) in northeastern Brazil.

Highlights of the 2020 Drill Program:

• ValOre has started the fully funded Phase 1 drill program at Pedra Branca
• Phase 1 will test seven distinct target areas with 23 core drill holes totaling 2,875 metres
• The Trapia 1 deposit area is the first target being drilled with the goals of resource expansion and new discoveries
• Phase 2 drill program is planned to test 4 distinct target areas with 24 drill holes totaling 3,035 metres
• The average hole length of 125m for both phases of drilling reflects the shallow nature of Pedra Branca PGE mineralization

“We have now safely mobilized a drill rig and personnel to our Pedra Branca property. With our previously announced $1.2 million funding package, we have significantly ramped up our exploration activities at Pedra Branca and have now started Phase 1 drilling at this highly compelling PGE project,” stated Jim Paterson, Chairman & CEO. “Our comprehensive review of the extensive Pedra Branca geological database has identified many high-priority targets to be drill-tested as part of our two-phase drill program, which is designed to expand the current resources, advance historical targets which host mineralized drill intercepts, and test undrilled areas.”

2020 Drill Program

ValOre has engaged Brazilian drilling company Servitec Foraco Sondagem SA for the Phase 1 drill program at Pedra Branca, which will test seven distinct target areas with 23 diamond drill core drill holes totaling 2,875 metres. The Phase 2 drill program will test 4 distinct target areas with 24 diamond drill core drill holes totaling 3,035 metres. Three target classes will be tested: resource expansion, advancing pre-resource zones, and new discovery targets.

Please CLICK HERE to see Table 1 and Figure 1 which provide a summary of the 2020 drill program at Pedra Branca.

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.