Valorem Advances 2021 Exploration and Drill Program for its Wings Shear Gold Property Located in Central Newfoundland

Valorem Advances 2021 Exploration and

Drill Program for its Wings Shear Gold Property Located in Central

Newfoundland

Vancouver, British Columbia - (September 20, 2021) – VALOREM RESOURCES INC. (the “Company” or

“Valorem”) (CSE: VALU) (Frankfurt: 1XW1) is pleased to report that it has resumed field exploration and

remains on track for a fall drilling program on its Wings Shear gold property, located in the Gander

Newfoundland exploration district, and 35 km east of TSX.V NFG.V Newfound Gold Corp.’s Queensway

project.

Highlights

• Valorem has planned an initial diamond drilling program of 1,000 metres of diamond drilling

over six (6) holes focusing on the historically trenched and drill-ready Wings Shear gold

prospect.

• Stage one of exploration consisting of prospecting, bedrock mapping and till sampling is ongoing

and set to conclude in the coming weeks.

• 70 of 100 till samples have been collected to date with several unrecorded mineralized zones

being observed and sampled.

Map 1: Wings Shear Sample Completion Map Sept 2021

The Wings Shear Property comprises 280 claim units covering 7,000 hectares. The property covers a 1km

zone of enhanced gold potential, located 32 km northeast of the town of Gander, Newfoundland and

Labrador and approximately 27 km east of Newfound Gold Inc.’s Queensway Project. This feature is

shear-zone hosted (the Wing’s Pond Shear Zone) and previous sampling is reported with assays up to

12.2 g/t Au from grab samples. There has been no previous drilling in this area.

Mr. Tony Louie, interim CEO of the Company commented, “Newfoundland is a top-ranked exploration

and mining jurisdiction. We are excited to be progressing our Wings Shear gold property in the Gander

Gold camp and are encouraged by the recent discoveries in the area”.

Map 2: Gander area mineral licence holders & mineral occurrences

Qualified Person:

Dr. Stephen Amor, PhD, P. Geo., technical advisor to the Company, is the Qualified Person as defined by

National Instrument 43-101 who has reviewed and approved the technical data in this news release.

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

FORWARD LOOKING STATEMENTS

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 .