Acquisition Of South Atlantic Gold To Create Precious Metals District

VANCOUVER - ValOre Metals Corp. and South Atlantic Gold Inc. entered into an arm’s length binding letter agreement (the “LOI”), whereby ValOre will acquire all of the issued and outstanding common shares in the capital of South Atlantic and other securities of South Atlantic. In accordance with the terms of the LOI, ValOre will acquire the South Atlantic Shares in consideration of the issuance of an aggregate of 38,500,000 common shares in the capital of ValOre.

Douglas Meirelles, President & CEO of South Atlantic, said, “We believe the combination of our respective projects (both called Pedra Branca) will unlock significant value for all shareholders, in addition to having a positive impact on the surrounding communities. As part of Discovery Group, ValOre is uniquely positioned with both access to capital and an experienced team to advance this nearly 100,000 hectare project. I would like to thank the shareholders, board of directors, and executives that were part of this journey in South Atlantic Gold, and look forward to seeing continued progress at Pedra Branca. We encourage our shareholders to approve this transaction so that together we can advance this highly prospective precious metals district.”