High-Grade Platinum Group Element Results

VANCOUVER - ValOre Metals Corp. reported assay results for 1 channel sample and 19 Trado® auger holes collected from the Esbarro NW target area at ValOre’s 100%-owned Pedra Branca Platinum Group Elements (PGE) Project in northeastern Brazil. “Our exploration field work at Pedra Branca continues to generate excellent results, this time with the identification of near surface PGE mineralization at Esbarro NW, which is located within 200 meters of the Esbarro deposit,” said, Vice President Exploration, Colin Smith. “We will drill the Esbarro NW target in May as part of the ongoing reverse circulation drill campaign at Pedra Branca.”

2021 soil sampling from the Esbarro NW target area delineated a 600 m-long PGE-in-soils anomaly extending to the northwest from the Esbarro pit-constrained resource area (9.9 Mt grading 1.23 g/t 2PGE+Au, totaling 394,000 ounces). During this sampling campaign, a 6.5 m-deep historical test pit was encountered approximately 200 m north of the western-most resource area. The test pit was previously not known to ValOre’s team, as it was not catalogued in the historical Pedra Branca database. A vertical channel sample was performed from surface to the bottom of pit (6.5 m depth), with altered ultramafic rocks intercepted throughout. Assay results for the channel sample returned a high-grade PGE interval from surface of 6.5 m grading 2.17 g/t 2PGE+Au, including 2.0 m grading 5.19 g/t 2PGE+Au from 4.50 m. The highest-grade sample (7.44 g/t 2PGE+Au) was collected from the pit bottom, and thus the high-grade in-situ PGE mineralization remains fully open at depth and along strike in all directions.

A 19-hole Trado® auger follow-up program was conducted within the 600 m PGE-in-soils anomaly extending from the Esbarro resource area. 17 of 19 Trado® auger holes intercepted PGE-bearing ultramafic or ultramafic-derived rocks, suggesting near-surface geological continuity of the mineralized host intrusion. Assay highlights include Trado® holes AD21ES03, which returned 12.0 m grading 1.73 g/t 2PGE+Au from surface, incl. 2.0 m grading 2.90 g/t from surface and 2.0 m grading 3.36 g/t from 8.0 m, and Trado® hole AD21ES08 which returned 9.0 m grading 2.09 g/t 2PGE+Au from surface.