ValOre Metals Corp. provided an update on the Reverse Circulation (“RC”) drilling at ValOre's 100% owned 59,483-hectare Angilak Property Uranium Project (“Angilak”), located in Nunavut Territory, Canada. Seventeen (17) of twenty (20) RC holes drilled at the Dipole and Yat targets have intersected near-surface zones of radioactivity.

Twenty RC drill holes in 2,141 metres (“m”) drilled to date from 10 drill sites at Dipole (17 holes) and Yat targets (3 holes); Multiple zones of near-surface radioactivity intersected in 14 of 17 holes at Dipole and 3 of 3 holes at Yat; RC drilling at Dipole has extended the known strike extent of the mineralized structure from 150 m to 650 m; Radioactive intervals are shallow, with vertical depths of the intersections ranging from 9 m to 110 m below surface; RC drilling continues at the Yat target (“Yat”), located 10 kilometres (“km”) to the northeast; Prospecting and trenching at Yat in 2015 and 2016 yielded high-grade polymetallic (U-Pd-Pt-Au-Cu-Ag) rock samples which assayed up to 23% U3O8, 58 g/t Pd, 7.8 g/t Pt, 211 g/t Au, 22% Cu, and 3,200 g/t Ag; Yat program has been expanded due to strong preliminary results, with intervals of anomalous radioactivity intercepted in 3 of 3 holes, up to a maximum of 5,013 counts per second (“CPS”); Total of 315 samples (480 m total) from 17 holes have been collected for assay, to date; Dipole and Yat remain open in both directions and at depth. The main zone at Dipole was tested with 15 RC drill holes over 650 m of strike length in 2022, with 14 of 15 holes intersecting anomalous radioactivity (>350 CPS), 10 holes with intervals exceeding 1,000 CPS and 7 holes over 3,300 CPS. A maximum of 65,535 CPS was drilled in hole RC22-DP-005, a reading which maxed-out the handheld scintillometer.

Assays for the 143 Dipole samples (217 m) remain pending. All main zone drill pad locations produced a minimum of 2 and a maximum of 4 intervals of radiation, including the following highlight from hole RC22-DP-007. Zone 1: 4.57 m averaging 8,486 CPS from 65.53 m (max 15,400 CPS) Zone 2: .64 m averaging 10,080 CPS from 92.96 m (max 26,580 CPS) Zone 3: 15.24 m averaging 3,561 CPS from 109.73 m (max 24,550 CPS).

Zone 4: 24.38 m averaging 2,689 CPS from 129.54 m (max 4,755 CPS). 2022 VLF-EM ground surveys have delineated the target Dipole conductor for approximately 9 km, with strong uranium-in-soil anomalies remaining open in both directions of strike. Soil sampling along-trend will commence in July, and the core drill rig will further test the high-grade Dipole structure at depth and along strike in both directions.