ValOre Metals : Drills Shallow PGE Mineralization at Santo Amaro Target, Pedra Branca, 14.65 metres of 1.29 gt 2PGE+Au from surface and 11.81 metres of 0.91 gt 2PGE + Au from surface

Vancouver - ValOre Metals Corp. today announced assay results for Santo Amaro zone drilling at ValOre's 100%-owned Pedra Branca Platinum Group Element ('PGE') Project in northeastern Brazil.

Near surface PGE mineralization was intersected in eleven of the twelve core drill holes that intersected the ultramafic ('UM') intrusion associated with the Santo Amaro NI 43-101 Inferred Resource. This drilling successfully extended near-surface PGE-mineralization along strike to the east and west, which remains open in both directions. In addition, a new, near-surface PGE-bearing zone was drilled 250 metres to the north-northwest of the Santo Amaro resource area.

'This phase of drilling at Santo Amaro was very successful. We intersected PGE mineralization at shallow depths in multiple zones, including an area 250 metres to the north-northwest of the known Santo Amaro resource,' stated ValOre's Chairman and CEO, Jim Paterson. 'Our exploration team identified several previously unmapped ultramafic rock units which extend well beyond the currently defined resource area boundaries. A mapping, soil and rock sampling, and prospecting program is underway in this area, with follow-up drilling planned as soon as practical.'

About ValOre Metals Corp.

ValOre Metals Corp. (TSXV: 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 current Inferred Resource of 1,067,000 ounces 2PGE+Au contained in 27.2 million tonnes grading 1.22 g/t 2PGE+Au. All the currently known Pedra Branca inferred PGE resources are potentially open pittable.

Comprehensive exploration programs have demonstrated the 'District Scale' potential of ValOre's Angilak Property in Nunavut Territory, Canada that hosts the Lac 50 Trend having a current Inferred Resource of 2,831,000 tonnes grading 0.69% U3O8, totaling 43.3 million pounds U3O8.

ValOre's team has forged strong relationships with sophisticated resource sector investors and partner Nunavut Tunngavik Inc. (NTI) on both the Angilak and Baffin Gold Properties. ValOre was the first company to sign a comprehensive agreement to explore for uranium on Inuit Owned Lands in Nunavut Territory and is committed to building shareholder value while adhering to high levels of environmental and safety standards and proactive local community engagement.

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This news release contains 'forward-looking statements' within the meaning of applicable securities laws. Although ValOre believes that the expectations reflected in its forward-looking statements are reasonable, such statements have been based on factors and assumptions concerning future events that may prove to be inaccurate. These factors and assumptions are based upon currently available information to ValOre. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. A number of important factors including those set forth in other public filings could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the future operations of ValOre and economic factors. Readers are cautioned to not place undue reliance on forward-looking statements. The statements in this press release are made as of the date of this release and, except as required by applicable law, ValOre does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. ValOre undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of ValOre, or its financial or operating results or (as applicable), their securities.

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