AGC.CN · 2022-05-18 12:00:00

Valorem Resources Announces Entry into Loan Agreement

Financings Debt & Credit Facilities

Vancouver, British Columbia – May 18, 2022 – VALOREM RESOURCES INC. (the “Company” or “Valorem”)

(CSE: VALU) (Frankfurt: 1XW1) announces that it has entered int o a loan agreement dated May 13, 2022

w i t h T h e K 2 P r i n c i p a l F u n d L . P . ( t h e “Lender”), whereby the Lender has agreed to loan the principal

amount of $450,000 (the “ Principal Amount”) to the Company. The Principal Amount bears interest at

the rate of 10% per annum (the “ Interest”) which Interest will be paya ble on November 15, 2022 (the

“Maturity Date”). The Principal Amount and any accrued and unpaid Interest wi ll immediately become

due and payable on the Maturity Date (or such later date as may be agreed to, in writing, by the Lender,

in its sole discretion).

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

Office: 888.795.6268

Forward‐looking Statements

This news release contains forward‐looking information that involves various risks and uncertainties regarding future

events. Such forward‐looking information can include without li mitation statements based on current expectations

involving a number of risks and uncertainties and are not guara ntees of future performance of the Company. There

are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ

materially from those expressed in the forward‐looking informat ion, including the failure of the Company to repay

the loan and any other factors that may cause the loan not to b e repaid, the ability of the management team to

execute on its business plan, risks in the apparel industry in general, and COVID‐19 relate d risks. Actual results and

future events could differ materially from those anticipated in such information. These and all subsequent written

and oral forward‐looking information are based on estimates and opinions of management on the dates they are

‐ 2 ‐

made and are expressly qualified in their entirety by this noti ce. Except as required by law, the Company does not

intend to update these forward‐looking statements.

The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the

contents of this press release.