ValOre Metals Corp. (“ValOre”; the “Company”; TSX‐V: VO; OTC: KVLQF
July 13, 2021
Vancouver, B.C. ValOre Metals Corp. (“ValOre”; the “Company”; TSX‐V: VO; OTC: KVLQF;
FRANKFURT: KEQ0) today provided an update from Chairman & CEO, Jim Paterson, on first half year
(“H1”) 2021 goals and accomplishments related to advancing ValOre’s 100%-owned Pedra Branca
Platinum Group Element (“PGE”) Project in northeastern Brazil.
2021 Focus
ValOre issued over 20 news releases documenting accomplishments in calendar 2020, and with our
dramatically increased exploration activities at Pedra Branca, we have already issued 20 news releases
in the first half of this year alone, including the following areas of focus:
⋅ Team building continues with the addition of highly experienced directors, advisors, technical experts
and Pedra Branca project staff;
⋅ Successful fundraising efforts have enabled an expanded and more productive exploration program .
ValOre’s ability to increase Community Engagement levels has been aided by a more solid financial
footing;
⋅ Resource expansion drilling has been very successful at Trapia (Trapia 1 and Trapia 2) , with Santo
Amaro drilling to commence this month;
⋅ Target advancement drilling has defined near -surface PGE mineralization at Esbarro NW and Cana
Brava, with all assays pending for Santo Amaro South (5 of 5 drill holes have intercepted the target
ultramafic rocks);
⋅ Discovery drilling generated positive assay results in all three holes at Trapia South;
⋅ Over 2,700 metres (“m”) remain in the core program, including all drilling at the C-04 and Santo Amaro
targets, and on-going follow-up drilling at Trapia 1;
⋅ ValOre’s exploration methodology has generated new targets and PGE discoveries;
⋅ Work related to mineralogy, mineral processing and metallurgy continues to provide options for Pedra
Branca future development;
⋅ A comprehensive mineralogical characterization study was completed in H1 2021, and a multi-faceted
follow-up metallurgical testwork program has commenced, including: reverse floatation, hot cyanide
leach, hot ferricyanide leach, and bottle roll tests.
Team Built - In 2020, ValOre added considerable depth and technical talent to the team. This trend
continued in H1 2021, with announcements (March 26 and June 1) detailing appointments of Darren
Klinck as Director, Ian Pritchard and Luis Azevedo as Advisors, Colin Smith as V.P. Exploration, Thiago
Diniz as Exploration Manager, and Marina Carvalho as Lead Administrator.
Successful Fundraising - On February 17, the Company announced the closing of a private placement
of gross proceeds of CAD$8.33 million which enabled the Company to fully extinguish the outstanding
operating line of credit and attracted some very strong and long-term shareholders, including 20%
participation by company insiders.
Community Engagement - We strive to have a positive impact on the communities surrounding Pedra
Branca, and in particular, the wonderful people of Capitão Mor. Our efforts in 2020 and 2021 remain
focused on supporting the local medical clinic and schools with donations of supplies when called for, and
as the project activity level scales up, we have been able to increase the hiring levels and business
partnerships with local residents.
Exploration Success - In H1 2021, ValOre’s team successfully advanced the Pedra Branca PGE project
on multiple fronts. We have drilled 3,263 of the planned 6,000 metres diamond drill (“DDH”) program
comprised of resource expansion, target advancement and discovery drilling. Samples from 11 diamond
drill holes have been sent for assays, with assays pending for 4 holes from Trapia 2. Follow-up drilling at
Trapia 1 is on-going, drilling at the C-04 target has commenced, and drilling at Santo Amaro will be
initiated this month.
A highlight from resource expansion drilling at Trapia 1 in H1 2021 was drill hole DD21TU21, which
returned 71.90 m grading 1.29 grams per tonne palladium + platinum + gold (“g/t 2PGE+Au”) from 134.95
m, including 1.55 m grading 10.82 g/t 2PGE+Au from 167.75 m (June 30 release).
On July 12, we announced highlights from discovery drilling activities at Pedra Branca which included a
PGE discovery at Trapia South, and near surface zones of mineralization in areas proximal to existing 43-
101 inferred resources, such as Esbarro NW target. In addition, compelling exploration potential is being
established at the underexplored Massape target, which hosts PGE mineralization in 3 of 5 historical drill
holes. ValOre has conducted extensive 2021 geological mapping, prospecting, Trado® auger drilling and
trenching, as we work to advance the target towards a drill-ready stage (assays pending for Trado® and
trench samples).
In H1 2021, a total of 38 reverse circulation (“RC”) drill holes in 1,828 m have been drilled, with assay results
received for 22 holes, and a total of 113 Trado® auger holes have been drilled, with assay results received
for 92 holes.
ValOre received encouraging assay results and reports from targeted exploration programs across the
property, including geological mapping and prospecting, 157 rock samples (February 24), 417 soil
samples (February 24), 6 trenches (March 23), and rhodium assays from resampled historical and 2020
ValOre drill core (March 2 and May 6).
Project Advancement - Our work related to mineralogy, processing and metallurgy has provided positive
initial results which gives us the encouragement and impetus to commence additional testing. (January
13). A comprehensive mineralogical characterization study was completed in H1 2021, and a multi-
faceted follow-up metallurgical testwork program has commenced which includes: reverse floatation, hot
cyanide leach, hot ferricyanide leach, and bottle roll tests.
On July 6, ValOre announced the increase to the Pedra Branca land holdings by 29% through the
acquisition of 16,000 hectares.
Thank you! In what has already been a productive and successful H1 2021, I would like to thank our
shareholders, team members, service providers and the people in the communities surrounding Pedra
Branca for their support. We look to continue the momentum for the balance of 2021!
On behalf of the Board of Directors,
“Jim Paterson”
James R. Paterson, Chairman and CEO
ValOre Metals Corp.
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.
Quality Control/Quality Assurance (“QA/QC”) and Grade Interval Reporting
CLICK HERE for a summary of ValOre’s policies and procedures related to QA/QC and grade interval
reporting.
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 51 exploration licenses covering a total area of 55,984 hectares
(138,339 acres) in northeastern Brazil. At Pedra Branca, 5 distinct PGE+Au deposit areas host, in
aggregate, a current Inferred Resource of 1,067,000 ounces 2PGE+Au contained in 27.2 million tonnes
grading 1.22 g/t 2PGE+Au (CLICK HERE for ValOre’s July 23, 2019 news release). 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 U 3O8. For disclosure related to the
inferred resource for the Lac 50 Trend uranium deposits, pleas e CLICK HERE for ValOre's news release
dated March 1, 2013.
ValOre’s team has forged strong relationships with sophisticated resource sector investors and par tner
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.
For further information about ValOre Metals Corp., or this news release, please visit our website at
valoremetals.com or contact Investor Relations at 604.653.9464, or by email at [email protected].
ValOre Metals Corp. is a proud member of Discovery Group. For more information please visit:
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 fact ors 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 for ward-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.