Valorem Announces Share Consolidation

News Release

VALOREM ANNOUNCES SHARE CONSOLIDATION

July 20, 2022

VALOREM RESOURCES INC. (CSE:VALU) (Frankfurt: 1XW1) (“the “Company”) announces

that it intends to consolidate the common shares of the Company (each, a “ Share”) on the basis

of thirty five (35) pre-consolidation Sh ares for one (1) post-consolidation Share

(the “Consolidation”). The Consolidation will become effect ive at the opening of the market on

July 22, 2022. The symbol “VALU” will re main the same. The new CUSIP number is

92026P200. Currently, a total of 98,018,813 Shar es are issued and outstanding. Accordingly,

upon the Consolidation becoming effective, a to tal of 2,800,357 Shares, subject to adjustments

for rounding, will be issued and outstanding. There is no maximum nu mber of authorized

Shares. Endeavor Trust Corporation will mail out updated DRS Statements to the shareholders

of record on July 25, 2022.

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 of Directors,

Tony Louie, Interim CEO and Director

Email: [email protected]

Office: 888.795.6268

Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider (as that term is defined in the

policies of the CSE accepts responsibility for the adequacy or accuracy of this release.