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AGC.CN ·

Valorem Announces Appointment of Chief Financial Officer and Director

Management Changes

Vancouver, British Columbia - (April 29, 2021) – VALOREM RESOURCES INC. (the “Company” or “Valorem”) (CSE: VALU) (Frankfurt: 1XW1) is pleased to announce that Ms. Tammy Gillis will be the joining Valorem as Chief Financial Officer effective April 30, 2021.

Mr. Drew Brass will be joining the board of the Company as a Director effective April 30, 2021. Mr. Brass will replace Derick Sinclair who has resigned as a director of the Company

Mr. Derick Sinclair has resigned as a Director and Chief Financial Officer of the Company, effective April 30, 2021.

Tammy Gillis

Ms. Gillis is a CPA, CMA with over 20 years’ experience in the public markets bringing comprehensive background in finance, reporting and regulatory requirements for manufacturing, bio-technology, technology and junior exploration industries. Ms. Gillis has been part of teams that have completed several financings, grant applications and acquisition transactions. Ms. Gillis started her career working at a corporate and securities law firm. Ms. Gillis previously served as Corporate Accountant for an international manufacturing company that had revenue in excess of $120 million and as Chief Financial Officer for a technology company with patented cathode materials used in lithium-ion batteries that successfully built a pilot plant with the assistant of over $4 million in government grants. Ms. Gillis has served as an officer for several TSX-V and CSE listed issuers.

Drew Brass

Mr. Drew Brass has been a self-employed business consultant specializing in corporate communications for junior publicly listed companies in industries as diverse as minerals exploration, software and oil and gas. He has been involved in the public market for over 30 years on both the equities and money market sides. Mr. Brass’ public company experience includes shareholder communications, fund raising and serving as VP of Communications for a number of publicly listed companies.

The Company wishes to thank Mr. Sinclair for all of his services.

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 Email: [email protected] 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 historical facts, including the likelihood of commercial mining and possible future financings are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future 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 from 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 inherently 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