AGC.CN · 2023-03-20 12:00:00

Valoreum Announces Stock Option Grant

Share Capital & Compensation

2380 - 1055 West Hastings, Vancouver, B.C., V6E 2E9

News Release

VALOREM ANNOUNCES STOCK OPTION GRANT

March 20, 2023

VALOREM RESOURCES INC. (CSE: VALU) (Frankfurt: X37) (the “ Company ”) announces

that it has granted an aggregate of 4,100,000 stock options (each, a “ Option ”) to certain

consultants of the Company for the purchase of up t o 4,100,000 common shares (each,

a “ Share ”) in the capital of the Company, pursuant to the C ompany’s Omnibus Equity

Incentive Plan. All Options vest as to: (i) twenty- five (25%) percent on the date of grant; (ii)

twenty-five (25%) percent on the date that is six ( 6) months from the date of grant; (iii) twenty-

five (25%) percent on the date that is twelve (12) months from the date of grant; and (iv) twenty-

five (25%) percent on the date that is eighteen (18 ) months from the date of grant, and are

exercisable for a period of three (3) years at an exercise price of $0.51 per Share.

About Valorem Resources Inc.

Valorem explores and develops precious metal proper ties in the Americas and the DRC. For

further details and maps, please see: https://valoremresources.com/

On behalf of the Board of Directors,

Tony Louie, Interim CEO and Director

Office: +1 (604) 908-1679

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

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