AGC.CN · 2021-06-01 12:00:00

Valorem Announces Appointment of New Director

Management Changes

Vancouver, British Columbia - (June 1, 2021) – VALOREM RESOURCES INC. (the “Company”)

(CSE: VALU) (Frankfurt: 1XW1) is pleased to announce the appoin tment of Mr. Robert James

Metcalfe to its board of directors effective immediately.

Robert James Metcalfe was a senior partner with the law firm La ng Michener LLP for 20 years.

He is the former President and Chief Executive Officer of Armadale Properties and Counsel to all

of the Armadale Group of Companies, with significant holdings a cross numerous industries

including finance, construction of office buildings, airport ow nership, management and

refurbishing, land development, automotive dealerships as well as newspaper publishing, radio

and television stations.

Mr. Metcalfe was a director of Canada Lands Company Ltd., one o f the largest real estate

corporations in Canada, and was a director and Chairman of the Board of the CN Tower Ltd., the

tallest communications structure in the world.

Mr. Metcalfe has served as a director of numerous public and pr ivate corporations and currently

serves as a director of publicly listed companies Gran Colombia Gold Corp. (Lead Director), Blue

Star Gold (Chairman), Medcolcanna Organics Inc. (Chairman), Pas ofino Gold Limited and

BetterLife Pharma Ltd. (Chairman).

As director and shareholder, Mr. Metcalfe has been engaged in n umerous acquisitions,

divestitures, corporate reorganizations, financings and corpora te improvements, as well as

serving on numerous special committees across many sectors. He is a member of the Institute of

Corporate Directors and a member in good standing of the Law Society of Ontario.

About Valorem Resources Inc.

Valorem explores and develops precious metal properties in the Americas.

For further details and maps, please see:

https://valoremresources.com/

ON BEHALF OF THE BOARD - Valorem Resources Inc.

Tony Louie, Interim CEO and Director

Phone: 888.795.6268

This news release includes certain statements that may be deemed "forward-looking statements".

All statements in this release, other than statements of histor ical facts, including the likelihood of

commercial mining and possible future financings are forward-lo oking statements. Although the

Company believes the expectations expressed in such forward-looking statements are based on

reasonable assumptions, such statements are not guarantees of f uture performance and actual

results or developments may differ materially from those in the forward-looking statements.

Factors that could cause actual results to differ materially fr om those in forward-looking

statements include unsuccessful exploration results, changes in metals prices, changes in the

availability of funding for mineral exploration, unanticipated changes in key management

personnel and general economic conditions. Mining is an inheren tly risky business. Accordingly,

the actual events may differ materially from those projected in the forward-looking statements. For

more information on the Company and the risks and challenges of its business, investors should

review the Company's annual filings which are available at www.sedar.com