ValOre Metals Corp. announced high-grade rock assay results from the São Francisco target (“São Francisco”) at ValOre's 100%-owned Pedra Branca Platinum Group Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil. São Francisco Rock Sample Assay Highlights: 13.69 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”) – Sample 103250; 12.18 g/t 2PGE+Au – Sample 103243; 6.51 g/t 2PGE+Au – Sample 103249; 1.15 g/t 2PGE+Au – Sample 103241.

São Francisco 2022 Exploration Program: The São Francisco target is located approximately 1 kilometre (“km”) south of the prospective Galante geological corridor, and approximately 8 km north of the Curiu deposit (NI 43-101 inferred resource 150,000 oz 2PGE+Au grading 2.20 g/t in 2.1 Mt). São Francisco has no record of historical field exploration activities, except for 3 shallow diamond drill holes targeting ground magnetic anomalies. ValOre's exploration program at the São Francisco target commenced with reconnaissance mapping and prospecting.

Several previously un-mapped and unknown chromitite and ultramafic (“UM”) rock outcroppings were identified, defining a 300-metre-long by 100-metre-wide zone. Follow-up soil sampling and Trado® auger drilling is in progress. Fourteen Trado® auger holes (53 m) have been drilled to date, with UMs intercepted in all 14 holes, from surface to end-of-hole (all 53 m augered), with all holes terminating in impenetrable UMs. To date, 700 soil samples have been collected, covering a trend of approximately 1.8-km-long, along >15 km of soil lines.

All Trado® and soil sample assays are pending. Historical Core Drilling: Three shallow core drill holes were completed by Anglo American Platinum in 2010 to investigate ground magnetic anomalies. Two of three core holes intercepted chromite-bearing UMs, with the following reported PGE grades (catalogued in the historical project database): DD10SF01: 12.25 m grading 0.24 g/t 2PGE+Au from 33.77 m; DD10SF02: 21.45 m grading 0.43 g/t 2PGE+Au from surface.

ValOre's ongoing exploration program confirms an extension of the known PGE mineralization intercepted in the historical drill program, defines a broader target footprint at surface, and advances Sao Francisco's potential for mineralization continuity along strike and at depth. Following the receipt and review of phase 1 soil and Trado® auger assays, trenching will further evaluate the near-surface PGE potential of São Francisco before potential Reverse Circulation (“RC”) and/or core drill testing.