ValOre Identifies High-Priority Targets for Fully Funded 2022 Exploration Program at Angilak Property

VANCOUVER, British Columbia, Nov. 29, 2021 (GLOBE NEWSWIRE) -- ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTC: KVLQF; Frankfurt: KEQ0, “the Company”) today provided an exploration update for ValOre’s 100%-owned Angilak Property Uranium Project (“Angilak”), located in Nunavut Territory, Canada.

“The potential for significant resource expansion and discovery at Angilak is exceptional, including 14 targets with high-grade U₃O₈ drill intercepts which span 60 kilometres of underexplored prospective geological trend,” stated ValOre’s Vice President Exploration, Colin Smith. “ValOre is preparing a multi-faceted and fully funded 2022 exploration program to rapidly expand and advance the project, supported by the recently-closed and oversubscribed C$11M financing.”

Angilak Uranium Project 2021 Targeting Highlights

The 2022 Angilak exploration program will comprise a multi-faceted campaign including: core drilling, Enzyme Leach (“EL”) soil sampling, ground geophysics including ground magnetics and VLF-EM, and district-wide prospecting, mapping, and sampling. A property-wide targeting review has identified high-priority targets to be advanced in a fully funded 2022 exploration program, characterized into 3 target classes:

• Lac 50 Trend Resource Expansion: 4 targets adjacent or contiguous to inferred resource zones;
• Target Advancement: 10 targets to follow-up ValOre U₃O₈ drill intercepts at zones not included in the inferred mineral resource;
• New Discovery: 20 targets which merit drilling.
  

Complete geophysical and geochemical datasets have been re-processed, re-interpreted and re-integrated into the Angilak geological and targeting model. In addition, 466 square kilometres (46,600 hectares) of new WorldView spectral data and high-spatial resolution imagery covers 100% of the high-priority targets and prospective basin-margin. Key areas along two major trends have been identified for completion of ground magnetics, VLF-EM and EL geochemical sampling.

ValOre has closed a C$11M financing to support a significant exploration program at Angilak in 2022 (CLICK HERE for news release dated November 17, 2021).

Targets to Drive Significant Resource Expansion and Future Discoveries

Angilak is a world-class advanced uranium exploration project with tremendous upside potential in a vastly underexplored district. The on-going property-wide targeting review has identified 34 targets to date, which are characterized into 3 classes: Resource Expansion, Target Advancement (ValOre-drilled high-grade U₃O₈ intercepts at pre-resource targets), and New Discovery (targets undrilled by ValOre). See Figure 1 below for a regional map of the Angilak Property, summarizing the locations and classes of the 34 targets reported herein, and the extent of additional planned ground magnetic and VLF-EM surveys and EL soil sampling.