ValOre Launches Strategic Review of Asset Portfolio
ValOre Launches Strategic Review of Asset Portfolio
Vancouver, B.C. ValOre Metals Corp. (“ValOre”; TSX ‐V: VO; OTC: KVLQF; Frankfurt: KEQ0 , “the
Company”) today initiated a process to evaluate potential strategic alternatives (the “Strategic Review”) to
maximize the value of the Company’s primary project holdings, including ValOre’s 100% owned Angilak
Property Uranium Project (“Angilak”), located in Nunavut Territory, Canada, and the 100%-owned Pedra
Branca Platinum Group Elements (“PGE”, “2PGE+Au”) Project (“Pedra Branca”) in northeastern Brazil.
ValOre’s board of directors has formed a special committee to lead the Strategic Review and has engaged
Canaccord Genuity Corp. as ValOre's exclusive financial advisor to evaluate a range of alternatives, which
could include the sale of part or all of the Company or its assets; a merger or other business combination
with another party; the forming of a separate company to hold Pedra Branca or other strategic initiatives.
“The timing to launch this process is very exciting, with interest levels in both our uranium and
palladium/platinum assets at decade highs based on the global geopolitical landscape and associated
commodity supply chain crunch,” stated Jim Paterson, Chairman & CEO of ValOre. “We will work closely
with our advisor Canaccord, our major shareholders and the broader mining investment community to
maximize value for all ValOre shareholders.”
ValOre’s Diversified Core Asset Portfolio
Angilak Property Uranium Project (Nunavut Territory, Canada)
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 its acquisition,
ValOre has invested over CAD$55 million on resource delineation and exploration drilling (89,572 metres
in 589 drill holes), metallurgy, geophysics, geochemistry, and logistics. This work supported the
development of the significant Lac 50 Trend NI 43-101 inferred 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. Lac 50 highlights include:
• 43.3 million pounds (“ Mlbs”) U 3O8 contained in 2,831,000 tonnes grading 0.69% U 3O8 ( 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”);
• Uranium mineralization starts at surface, and has been drilled to 380 m vertical depth;
• 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;
ValOre has commenced a board approved and fully funded CAD$11 million 2022 exploration program at
Angilak, as announced on April 7, 2022 (CLICK HERE for news release). A total of 300 holes were drilled
in areas outside Lac 50 resource, with anomalous radioactivity encountered in 230 holes (77%) evidenced
by counts per second values >200, and 170 holes (57%) returned counts per second values >1000.
Angilak is located 200 km south of the Kiggavik uranium deposit (133 Mlbs U3O8 grading 0.47% U3O8), 240
km southwest of producing Meadowbank gold mine (2.888 Moz Au) and 330 km west of producing
Meliadine gold mine (4.025 Moz Au), all located in Nunavut Territory.
Pedra Branca Palladium-Platinum-Gold (Ceará State, Brazil)
The Pedra Branca platinum group elements project comprises 52 exploration licences covering a total area
of 56,852 hectares (140,484 acres) in northeastern Brazil. At Pedra Branca, seven distinct PGE+Au deposit
areas host, in aggregate, a 2022 NI 43-101 inferred resource of 2,198,000 ounces 2PGE+Au contained in
63.6 million tonnes grading 1.08 g/t 2PGE+Au (CLICK HERE for news release). All currently known Pedra
Branca inferred resource zones are near surface and thus potentially open pittable. Highlights, as reported
on March 24, 2022:
• 2,198,000 ounces 2PGE+Au in 63.6 million tonnes grading 1.08 g/t 2PGE+Au (1,862,000 ounces
PdEq grading 0.91 g/t PdEq);
• 106% increase to 2019 inferred mineral resource;
• CAD$6.1M spent on exploration and development since 2019 resource, equating to CAD$5.40
per ounce 2PGE+Au added;
• 17,434 m have been drilled since the 2019 resource, with approximately 11,500 m allocated to
resource expansion;
• 2021 infill resource and metallurgy hole from Esbarro: 77 m grading 2.95 g/t 2PGE+Au from
surface, including 6.4 m at 16.92 g/t 2PGE+Au and 0.52 g/t Rh from 30 m;
• M etallurgical recoveries of 82.9% for platinum, 71% for palladium and 85.2 % for gold were
achieved by the first locked cycle flotation test on a fresh, unweathered 30-kilogram sample
composited from Curiu PGE deposit drill core.
Extensive resource growth potential remains at Massapê, Santo Amaro, Trapia and Cedro, in addition to
advanced exploration targets property-wide. Regional exploration by Trado® and trenching continues to
advance new prospects to RC or core drill targets. An excellent example of this is the recently announced
Ipueiras trench results, including 64 m grading 2.68 g/t 2PGE+Au, including 25 m grading 4.65 g/t
2PGE+Au. CLICK HERE for news release dated April 5, 2022, for more information on the Ipueiras
target.
ValOre has not made any decisions related to any specific strategic alternatives at this time and there can
be no assurance that the Strategic Review will result in any transaction. The Company does not intend to
provide announcements or updates unless, or until, it determines that further disclosure is appropriate or
necessary.
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 in this presentation 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.
Independent consultants, Fábio Valério (P.Geo.) and Porfirio Cabaleiro (P.Eng.), of GE21 were
commissioned to complete the mineral resource estimate and the technical report on behalf of ValOre, and
Chris Kaye of Mine and Quarry Engineering Services Inc., was commissioned to review the metallurgical
information and contribute to the NI 43-101 technical report.
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% U3O8, 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 In vestor 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.