ValOre Metals Corp. announced initial trench channel sample assay results from the Ipueiras target area at ValOre's 100%-owned Pedra Branca Platinum Group Elements Project in northeastern Brazil. Ipueiras is located 10 kilometres south of the Trapia deposit area, .

ValOre has tested the target with 35 Trado® auger holes and 4 trenches to date in 2022, following a detailed geological mapping and prospecting program. Two of four trenches returned significant intervals of PGE mineralization, including: 64 metres grading 2.68 grams per tonne palladium + platinum + gold, including 25 m grading 4.65 g/t 2PGE+Au in trench TR22IP01; 38 m grading 2.14 g/t 2PGE+Au, including 15 m grading 4.45 g/t 2PGE+Au in trench TR22IP02; Detailed follow-up mapping, Trado® and trenching has commenced to further delineate this broad, high-grade, shallow ultramafic intrusion. ValOre conducted detailed geological mapping and prospecting throughout the 2-km-long anomalous trend at Ipueiras, and followed up with 35 Trado® auger holes, with reported PGE mineralization in 11 of 35 holes.

for a plan map of Ipueiras. Highlights of historic and ValOre high-grade rock samples collected throughout the area include grades over 40 g/t 2PGE+Au at the Southwest and Northeast Zones. Five shallow pre-ValOre diamond drill holes tested a portion of the northeast zone of Ipueiras, with PGE mineralization reported in 2 holes.

Revised interpretations, based on new data from ValOre's ongoing exploration program, demonstrate excellent potential for mineralization continuity at depth and along strike. PGE-mineralized Trado® auger results defined an area of focus within the Northeast Zone for priority follow up work, and was subsequently tested for in-situ PGE mineralization by excavation of 4 trenches totaling 189 m, covering a strike length of approximately 200 m. All 4 trenches confirmed UM and UM-derived rocks continuity along strike, with PGE mineralization reported in 3 of 4 trenches. Assays remain pending for trench TR22IP04.

Assay highlights include multiple high-grade PGE results from the two northernmost trenches associated with thick chromitites and chromitite-rich UMs, including: TR22IP01: 64 m grading 2.68 g/t 2PGE+Au, including 25 m grading 4.65 g/t 2PGE+Au; TR22IP02: 38 m grading 2.14 g/t 2PGE+Au, including 15 m grading 4.45 g/t 2PGE+Au; TR22IP03: 2.0 m grading 0.37 g/t 2PGE+Au.