ValOre Commences Drilling at Pedra Branca PGE Project - Seite 2

Servitec Foraco has more than 700 employees and 90 drill rigs, and operates throughout Brazil with clients such as Nexa, Anglo American, Yamana Gold, Vale and AngloGold Ashanti. 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 daily screening procedures, temperature monitoring, self-assessment checklists 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 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.

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.