Pedra Branca PGE Project Advanced Exploration

VANCOUVER - ValOre Metals Corp., Chairman and CEO, Jim Paterson, reported, “So far in 2020, our team has successfully advanced exploration efforts at the Pedra Branca PGE project, in Brazil, on multiple fronts. We have completed 80% of the 6,000 meter two phase drill program, focusing on our goals of resource expansion, target advancement and discovery drilling.. Assay results are pending from drilling completed at Trapia 1 and Trapia 2; with both drill rigs now positioned to start drilling at the Santo Amaro area this week. Our work related to mineralogy, processing and metallurgy has provided very positive initial results and some additional options which warrant immediate follow up.”

In 2020 the Pedra Branca drill program: Resource Expansion – the bulk of the 6,000 proposed meters to be drilled as part of both the Phase 1 and 2 programs, were aimed at expanding specific zones which form part of the Pedra Branca inferred resource, namely Trapia (Trapia 1 and Trapia 2) and Santo Amaro: Trapia 1 – 2,520 meters in 12 holes drilled with assays from 5 holes. Assays pending from 7 holes drilled to the south of the area of known resources; Trapia 2 – 1,098 meters in 8 holes drilled with samples from all holes sent to the lab for assays; Santo Amaro – two drill rigs now positioned at Santo Amaro to commence drilling. The company aims to finish strong with the planned drilling of 960.0 meters in 8 holes.

Target Advancement – 565 meters in 8 holes, were drilled in previously tested target zones, with highly encouraging results coming from Cana Brava, where shallow mineralization was extended with PGE intercepts in three of the drill holes. Discovery Drilling – 750 meters in 8 holes tested new targets, with a highlight being a new PGE discovery at the previously undrilled C-04 WorldView-magnetic anomaly target, with 2PGE+Au mineralization encountered in all three drill holes. These results are significant, as they validate ValOre's exploration methodology.