ValOre Metals Corp. reported initial Salvador core assay results from the recently completed 2023 Phase 1 drill program at ValOre?s 100%-owned Pedra Branca Platinum Group Elements (PGE, 2PGE+Au) Project in northeastern Brazil. Salvador Target Highlights: Core assay results received for the first of seven ultramafic-bearing (UM) holes at the Salvador target, with a total of 1,056 metres (m) drilled; 43.85 m at 0.76 grams per tonne palladium + platinum + gold (g/t 2PGE+Au) starting from 45.25 m, including 10.85 m at 1.19 g/t 2PGE+Au from 51.3 m, and 6.05 m at 1.35 g/t 2PGE+Au from 80.45 m. Trench assay results reported for 2 of 4 trenches excavated in the target.

Total of 145 m excavated in 4 trenches, with UM rocks exposed in all four trenches (120 m); TR23MES01 : 55 m at 0.80 g/t 2PGE+Au; TR23MES02 : 25 m at 1.15 g/t 2PGE+Au. Assays pending for the remaining 6 Salvador core holes and trenches, spanning 400 m of strike within a 1.3-kilometre-long (km) mineralized trend; Additional mapping, soil sampling and Trado® drilling are in progress aiming at detailing PGE mineralization continuity at surface to the north and south of the main zone. 2023 Drill Program: 6,152 m drilled in 49 holes distributed along 8 separate exploration and resource zones; 1,625 core samples sent to lab, with assays pending for 572 samples from 13 holes.