ValOre’s Second Core Rig Commences Drilling, with First Drill Intercept ing Multiple Zones of Shallow Radioactivity at Dipole Uranium Target, Angilak Property
ValOre’s Second Core Rig Commences Drilling, with First Drill Intercept ing Multiple Zones of
Shallow Radioactivity at Dipole Uranium Target, Angilak Property
Vancouver, B.C. ValOre Metals Corp. (“ValOre”; TSX ‐V: VO; OTC: KVLQF; Frankfurt: KEQ0 , “the
Company”) today provided an update on the 4,500 metre (“m”) core program at ValOre’s 100% owned
59,483-hectare Angilak Property Uranium Project (“Angilak”), located in Nunavut Territory, Canada.
“Two diamond drill rigs are now drilling at Dipole as part of a 4,500- metre program to test the Dipole and
J4 West uranium targets ,” stated ValOre’s VP of Exploration, Colin Smith. “The first rig has intercepted
multiple shallow zones of strong radioactivity, including 12,000 CPS at 56 m vertical depth, and 9,361
CPS at 98 m vertical depth in drill hole 22-DP-002.”
Highlights of First Two 2022 Core Holes:
• Drill hole 22-DP-001: intersected a near-surface zone of radioactivity ( 4,000 counts per second
(“CPS”) from 49.82 to 50.20 m) but was subsequently lost at 78 m hole depth. The hole terminated
above the anticipated depth of the lower zone;
• Drill hole 22-DP-002: drilled to target depth of 178 m from the same pad (tilted to a -75° dip from a
-70°), and intersected 6 zones of radioactivity, including highlights of:
o 12,000 CPS from 57.80 to 58.11 m
o 9,361 CPS from 102.20 to 102.41 m;
• Zones of radioactivity correlate well with mineralized intercepts in the up -dip 2022 Reverse
Circulation (“RC”) drill holes and are characterized by intensely hematized and brecciated graphitic
tuffs, hosted within a broader package of foliated basalt.
*Reported core interval lengths are estimated to represent 70% true width
To review more information regarding the 2022 RC drill program, CLICK HERE for news release dated May
9, 2022, CLICK HERE for news release dated June 2, 2022, and CLICK HERE for news release dated
June 15, 2022.
About Angilak
The 59,483-hectare Angilak Property is situated in the mining- and exploration-friendly Nunavut Territory,
Canada, and has district-scale potential for uranium, precious and base metals. Since acquisition, ValOre
has invested over C AD$55 million on resource delineation and exploration drilling (89,572 metres in 589
drill holes), metallurgy, geophysics, geochemistry, and logistics across the large land package. This work
supported the development of the significant Lac 50 Trend NI 43- 101 inferred uranium resource estimate
(“Lac 50”).
The Lac 50 NI 43- 101 Technical Report (effective date March 1, 2013) defined an inferred resource
estimate which represents Canada’s highest -grade uranium resource outside of Saskatchewan, and one
of highest-grade uranium resources on a global basis. Highlights include:
• 43.3 Mlbs U3O8 in 2,831,000 tonnes grading 0.69% U3O8. CLICK HERE for a summary table of the
Lac 50 Trend inferred resource estimate;
• Supported by 351 resource delineation drill holes totaling 62,023 metres (“m”);
• Metallurgical results for Lac 50 demonstrate high uranium recoveries and rapid leach kinetics. See
news releases: February 28, 2013, September 11, 2013 and February 27, 2014;
• Lac 50 Trend is a 15 kilometre (“km”) by 3 km area with excellent potential for resource growth and
new discoveries;
• Uranium mineralization starts at surface, and has been drilled to 380 m vertical depth;
CLICK HERE for ValOre’s May 6, 2021 video summarizing the highlights of Angilak.
CLICK HERE for ValOre’s May 6, 2021 video reviewing the 2021 focus for Angilak.
Qualified Person (“QP”)
The technical information in this news release has been prepared in accordance with Canadian regulatory
requirements set out in NI 43- 101 and reviewed and approved by Colin Smith, P.Geo., ValOre’s QP and
Vice President of Exploration.
Information related to the independent Angilak mineral resource estimate has been approved by Michael
Dufresne, M.Sc. P.Geo., President of Apex Geoscience Ltd., Robert Sim, P.Geo. of SIM Geological Inc.
and Bruce Davis, FAusIMM of BD Resources Consulting Inc., who are independent QPs as defined under
NI 43‐101.
Information related to the independent Pedra Branca mineral resource estimate has been approved by
Fábio Valério, P.Geo., and Porfirio Cabaleiro, P.Eng., of GE21.
About ValOre Metals Corp.
ValOre Metals Corp. (TSX ‐V: VO ) is a Canadian company with a portfolio of high‐ quality exploration
projects. ValOre’s team aims to deploy capital and knowledge on projects which benefit from substantial
prior investment by previous owners, existence of high- value mineralization on a large scale, and the
possibility of adding tangible value through exploration, process improvement, and innovation.
In May 2019, ValOre announced the acquisition of the Pedra Branca Platinum Group Elements (PGE)
property, in Brazil, to bolster its existing Angilak uranium, Genesis/Hatchet uranium and Baffin gold projects
in Canada.
The Pedra Branca PGE Project comprises 52 exploration licenses covering a total area of 56,852 hectares
(140,484 acres) in northeastern Brazil. At Pedra Branca, 7 distinct PGE+Au deposit areas host, in
aggregate, a 2022 NI 43-101 inferred resource of 2.198 Moz 2PGE+Au contained in 63.6 Mt grading 1.08
g/t 2PGE+Au (CLICK HERE for news release dated March 24, 2022). All the currently known Pedra Branca
inferred PGE resources are potentially open pittable.
Comprehensive exploration programs have demonstrated the "District Scale" potential of ValOre’s Angilak
Property in Nunavut Territory, Canada that hosts the Lac 50 Trend having a current Inferred Resource of
2,831,000 tonnes grading 0.69% U 3O8, totaling 43.3 million pounds U3O8. For disclosure related to the
inferred resource for the Lac 50 Trend uranium deposits, please CLICK HERE for ValOre's news release
dated March 1, 2013.
ValOre’s team has forged strong relationships with sophisticated resource sector investors and partner
Nunavut Tunngavik Inc. (NTI) on both the Angilak and Baffin Gold Properties. ValOre was the first company
to sign a comprehensive agreement to explore for uranium on Inuit Owned Lands in Nunavut Territory and
is committed to building shareholder value while adhering to high levels of environmental and safety
standards and proactive local community engagement.
On behalf of the Board of Directors,
“Jim Paterson”
James R. Paterson, Chairman and CEO
ValOre Metals Corp.
For further information about ValOre Metals Corp., or this news release, please visit our website at
www.valoremetals.com or contact Investor Relations at 604.653.9464, or by email at
ValOre Metals Corp. is a proud member of Discovery Group. For more information please visit:
http://www.discoverygroup.ca/
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains “forward-looking statements” within the meaning of applicable securities laws.
Although ValOre believes that the expectations reflected in its forward-looking statements are reasonable,
such statements have been based on factors and assumptions concerning future events that may prove to
be inaccurate. These factors and assumptions are based upon currently available information to ValOre.
Such statements are subject to known and unknown risks, uncertainties and other factors that could
influence actual results or events and cause actual results or events to differ materially from those stated,
anticipated or implied in the forward-looking statements. A number of important factors including those set
forth in other public filings could cause actual outcomes and results to differ materially from those expressed
in these forward -looking statements. Factors that could cause the actual results to differ materially from
those in forward-looking statements include the future operations of ValOre and economic factors. Readers
are cautioned to not place undue reliance on forward- looking statements. The statements in this press
release are made as of the date of this release and, except as required by applicable law, ValOre does not
undertake any obligation to publicly update or to revise any of the included forward- looking statements,
whether as a result of new information, future events or otherwise. ValOre undertakes no obligation to
comment on analyses, expectations or statements made by third parties in respect of ValOre, or its financial
or operating results or (as applicable), their securities.