ValOre Metals Corp. announced Trado® auger assay results from the Tróia target area (“Tróia”) at ValOre's 100%-owned Pedra Branca Platinum Group Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil. Tróia Target Exploration Program Highlights: Mineralization occurs within a 50- to 100-metre-wide zone, along a 1-kilometre-long trend with compelling geochemical and geophysical anomalies, and rock samples exceeding 23 g/t 2PGE+Au; The Tróia target has been tested with 72 Trado® auger holes (results received for 53), totaling 206 metres (“m”) and 7 trenches, totaling 400 m; Target ultramafic rocks (“UM”) encountered in 19 Trado® holes (62 m of the 206 m augered) and all 7 trenches, over geological trend of approximately 1 kilometre (“km”) in strike length; Multiple PGE-mineralized Trado® auger holes, including: 8.5 m grading 0.98 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”) from surface, including 4.0 m grading 1.44 g/t 2PGE+Au from 4.0 m depth 2.0 m grading 8.58 g/t 2PGE+Au from surface, including 1.0 m grading 15.93 g/t 2PGE+Au from surface 4.0 m grading 1.55 g/t 2PGE+Au from surface 3.8 m grading 1.64 g/t 2PGE+Au from surface; Sampling and geological mapping of all 7 trenches are in progress.

Tróia 2022 Exploration Program ValOre conducted detailed geological mapping and prospecting along the 1-km-long anomalous trend at Tróia, a target located 4.5 km north-northeast Massapê (129,000 oz 2PGE+Au grading 1.21 g/t in 3.31 Mt) and 8 km north of Trapia (885,000 oz 2PGE+Au grading 0.96 g/t in 27.8 Mt). The main Tróia zones were subsequently followed up with 72 Trado® auger holes totaling 206 m, with UMs encountered in 19 Trado® holes. Assays are pending for 19 of 72 holes.

See Table 1 below for a summary of significant Trado® assay results. PGE assays previously reported from Trado® auger drilling and rock sampling, including 23.01 g/t2PGE+Au and 12.00 g/t 2PGE+Au, warranted follow-up trenching along 600 m of geological trend to confirm the presence of in-situ PGE mineralization. Seven trenches were excavated (400 m total length), with all exposing UM and UM-derived rock continuity along strike, with significant thickness chromitite-rich UMs in the central two trenches.

Trench sampling and mapping are in progress. See Figure 2 for photographs of the Tróia trenching program.