ValOre Continues to Identify New PGE Targets at Pedra Branca; Provides Update Regarding COVID-19
ValOre Continues to Identify New PGE Targets at Pedra Branca; Provides Update Regarding
COVID-19
March 30, 2020
Vancouver, B.C. ValOre Metals Corp. ( "ValOre"; TSX‐V: VO) ValOre today provide d an update to
shareholders. ValOre’s team continues to leverage its extensive database for its 100% -owned Pedra
Branca Platinum Group Element s Project (“PGE”, “2PGE+Au”) and has uncover ed additional significant
exploration targets and opportunities.
ValOre’s team have identified three separate, large-scale PGE targets collectively called “Mendes North”
(see Figure1 below), which warrant immediate geochemical soil sampling and prospecting programs prior
to drill testing.
Highlights of the new Mendes North PGE Targets:
• Three newly identified large-scale PGE targets, all >1 km in strike length;
• Excellent access – all three are located within a 4.0 by 2.5 km area and are adjacent to, or within
200 meters of, a main road;
• 2020 3D magnetic inversion modelling of historical ground geophysical data has defined multiple
compelling near-surface PGE targets;
• All magnetic anomalies are situated in a broad area of radiometric low, indicative of prospective
regional mafic to ultramafic Troia Unit;
• WorldView spectral data bolsters prospectivity of the targets by indicating probable ultramafic
intrusions - all 4 ultramafic and chromitite spectral classes coincide with the mag high anomalies ,
and the prospective ultramafic areas are evident as anomalously dark brown -coloured areas in
the true-color WorldView imagery;
• There is no known historical geochemical sampling or geological mapping in the Mende s North
area, and this is the first 3D magnetic inversion preformed on the Mendes North dataset;
• All three targets contained within the Mendes North area warrant a rapid and low -cost soil
sampling and prospecting campaign to further refine the specific targets prior to drill testing;
• An additional 2.0 by 1.2 km magnetic anomaly is situated approximately 1 km to the northwest of
the 3 previously described targets and warrants reconnaissance exploration as well.
ValOre also announces that it has been closely monitoring developments of the novel coronavirus
pandemic (“COVID-19”). ValOre considers health and s afety a top priority for its people and in the
communities in which it works.
ValOre is encouraging its employees, contractors, and partners to work remotely and follow the World
Health Organization and Public Health Agency of Canada best practices to avoid catching the virus.
ValOre has initiated the following health and business precautions:
• Vancouver office: employees and consultants are working remotely and the corporate office in
Vancouver has been temporarily closed;
• Brazil: cancelled all non-essential travel from Fortaleza into site in favour of video conferencing.
To date, there have been no confirmed cases in Capitão Mor (nearest town to ValOre’s Pedra
Branca project) at this time ; however, while conducting any fieldwork, ValOre personnel will be
encouraged to follow and exceed Brazil’s government health and safety policies and guidelines;
• Nunavut and Saskatchewan: no planned activities given the season, but will monitor the
situation closely going forward and follow government health and safety recommendations.
ValOre is committed to reducing the health risk to its stakeholders and will continue to work proactively
through these tumultuous times. ValOre, as part of Discovery Group, has great access to capital and
strong support from insiders and major shareholders.
Figure 1: Summary of Mendes North Exploration Targets, with comparison to the NI 43-101 2PGE+Au
Esbarro Deposit
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., who oversees
New Project Review for ValOre.
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.
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 B ranca PGE Project comprises 38 exploration licenses covering a total area of 38,940
hectares (96,223 acres) in northeastern Brazil. At Pedra Branca, 5 distinct PGE+Au deposit areas host, in
aggregate, a NI 43- 101 Inferred Resource of 1,067,000 ounces 2PGE+ Gold (Palladium, Platinum and
Gold; Pd, Pt+Au) contained in 27.2 million tonnes (“Mt”) grading 1.22 grams 2PGE+Gold per tonne (“g
2PGE+Au/t”) (see ValOre’s July 23, 2019 news release). PGE mineralization outcrops at surface and all
of the inferred resources are potentially open pittable.
Comprehensive exploration programs have demonstrated the "District Scale" potential of ValOre’s
89,852-hectare Angilak Property in Nunavut Territory, Canada that hosts the Lac 50 Trend having a NI
43‐101 Inferred Resource of 2,831,000 tonnes grading 0.69% U 3O8, totaling 43.3 million pounds U 3O8.
For disclosure related to the inferred resource for the Lac 50 Trend uranium deposits, please refer to
ValOre's news release of 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 Nunav ut
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 toll free at 1.888.331.2269, at 604.646.4527, or by
email at [email protected].
ValOre Metals Corp. is a proud member of Discovery Group. For more information please visit:
www.discoverygroup.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is def ined 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 availabl e 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 the Company 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.