ValOre Files Technical Report for the Angilak Property, Nunavut Territory, Canada and Applies for Option and Warrant Repricing
ValOre Files Technical Report for the Angilak Property, Nunavut Territory, Canada and Applies for
Option and Warrant Repricing
Vancouver, B.C. ValOre Metals Corp. (“ValOre”; TSX‐V: VO; OTCQB: KVLQF; Frankfurt: KEQ0, “the
Company”) today announced the filing a technical report, in accordance with National Instrument 43- 101
– S tandards of Disclosure for Mineral Projects ("NI 43-101"), for the Company's Angilak Property
(“Angilak”), titled "NI 43-101 Technical Report for the Angilak Property, Kivalliq Region, Nunavut, Canada"
(the "Technical Report") and dated March 31, 2023 (with an effective date of March 1, 2023).
The Technical Report was prepared and compiled for ValOre Metals Corp. and Labrador Uranium by
independent representatives of APEX Geoscience Ltd., Michael B. Dufresne, and Philo Schoeman, each
of whom is a "qualified person" (within the meaning of NI 43- 101). The Technical Report supersedes the
prior technical report on the Project dated March 1, 20 13, and was completed as a part of the March 14,
2023 Definitive Agreement to sell 100% interest in Angilak to Labrador Uranium. CLICK HERE for ValOre’s
news release dated March 14, 2023.
The Technical Report can be found on SEDAR (www.sedar.com).
Option and Warrant Repricing
ValOre has submitted an application for TSX Venture Exchange approval for the repricing of 11,550,000
options and 11,700,000 warrants granted and up to 8,750,000 warrants to be issued upon closing of the
current ValOre private placement. S ee schedule of the proposed number of options and warrants and
respective exercise prices and expiration dates below.
Options proposed for repricing
Number of Options Current Exercise Price Expiry Date
3,525,000 $0.25 September 6, 2024
1,425,000 $0.30 August 10, 2023
6,600,000 $0.45 December 9, 2024
Warrants proposed for repricing
Number of Warrants Current Exercise Price Expiry Date
3,525,000 $0.25 September 6, 2024
1,575,000 $0.30 August 10, 2023
6,600,000 $0.45 December 9, 2024
8,750,000 $0.30 Will be dated upon close of
current private placement
The repricing of the options and warrants would only be completed subsequent to the closing of ValOre’s
previously announced disposition of the Angilak Property to Labrador Uranium Inc. (CSE: LUR) . In order
to reflect the new value of ValOre’s equity after completion of the transaction, the Company intends to re-
price the exercise price of the options and warrants to equal the ten (10) day volume -weighted average
price of the Company’s common shares on the TSX-V commencing on the first full trading day after the
closing of the disposition of Angilak.
The Company intends to seek the requisite disinterested shareholder approval for the option and warrant
repricing required under Exchange policies at its upcoming shareholder meeting to be held on May 12,
2023. There is no assurance that ValOre will receive Exchange and / or disinterested shareholder approval
to reprice the options and warrants. Certain options and warrants are held by insiders and related parties,
and as such, would constitute a related party transaction as defined under Multilateral Instrument 61- 101,
Protection of Minority Security Holders in Special Transactions. However, such actions are exempt from
the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market
value of the options and / or warrants, exceeds 25 per cent of the company's market capitalization.
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.
The Pedra Branca Platinum Group Elements ( 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.
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 avai lable 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 coul d 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.