Near Surface Mineralization At Santo Amaro Target

VANCOUVER - ValOre Metals Corp. provided an update on 2021 drilling from the Santo Amaro target at the Pedra Branca Platinum Group Elements (PGE) Project in northeastern Brazil.

“2021 drilling at Santo Amaro has greatly advanced the interpreted geological model for the resource-associated ultramafic package, allowing for more targeted resource expansion drilling and a higher level of confidence in future resource estimations,” said, VP of Exploration, Colin Smith. “Significant drilling results include the 110-meter ultramafic intercept in DD21SA42, a ~95 meter step-out hole drilled to the southeast of the current resource; multiple near surface intervals of mineralization within and along strike from the current resource; and mineralized intercepts better defining the NW mineralized zone, situated ~250 meters northwest of the current resource.”

19 holes were drilled totaling 2,204 meters (m”, with a primary focus of resource expansion. All 19 completed holes intercepted the target UM intrusion, with assays received in full for 7 holes (12 holes pending), and the final drill hole currently in progress. Near surface mineralization encountered in 7 of the 7 holes received to date, with a highlight of: 36 m at 2.22 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”) from 43 m, including 9.1 m at 6.38 g/t 2PGE+Au from 43 m in drill hole DD21SA30. Assays currently pending for a 110-meter chromite-bearing ultramafic intercept in step-out hole DD21SA42. The advancement of the NW mineralized zone, situated ~250 meters northwest of the resource of which all 6 drill holes intercepted target ultramafic (“UM”) intrusion (assays pending). Upon completion of the final hole, both drill rigs to be mobilized to the Santo Amaro South target, 1.5 kilometers (“km”) south, to drill 200 m in 4 holes, and thereafter to the Massape target, 30 km southwest, to drill 1000 m in 10 holes.