VANCOUVER, British Columbia, Nov. 13, 2020 (GLOBE NEWSWIRE) -- ValOre Metals Corp. (“ValOre”; the “Company”; TSX‐V: VO; OTC: KVLQF; FRANKFURT: KEQ0) today provided a summary of 2020 accomplishments and next steps to advance ValOre’s 100%-owned Pedra Branca Platinum Group Element (“PGE”) Project in northeastern Brazil.

“So far in 2020, our team has successfully advanced exploration efforts at the Pedra Branca PGE project on multiple fronts. We have completed 80% of the 6,000 metre two phase drill program, focusing on our goals of resource expansion, target advancement and discovery drilling,” stated Jim Paterson, ValOre’s Chairman and CEO. Assay results are pending from drilling completed at Trapia 1 and Trapia 2; with both drill rigs now positioned to start drilling at the Santo Amaro area this week. Our work related to mineralogy, processing and metallurgy has provided very positive initial results and some additional options which warrant immediate follow up.”

Pedra Branca 2020 Drill Program

Resource Expansion – The bulk of the 6,000 proposed metres to be drilled as part of both the Phase 1 and 2 programs, were aimed at expanding specific zones which form part of the Pedra Branca inferred resource, namely Trapia (Trapia 1 and Trapia 2) and Santo Amaro:

Target Advancement – 565 metres in 8 holes, were drilled in previously tested target zones, with highly encouraging results coming from Cana Brava, where shallow mineralization was extended with PGE intercepts in three of the drill holes (Oct 27 release)

Discovery Drilling – 750 metres in 8 holes tested new targets, with a highlight being a new PGE discovery at the previously undrilled C-04 WorldView-magnetic anomaly target, with 2PGE+Au mineralization encountered in all three drill holes (Oct 27 release). These results are significant, as they validate ValOre's exploration methodology described in the Dec 4, 2019 news release.

Metallurgical Work

For a synopsis of ValOre Nov 2 and Nov 9 releases, please click this LINK to a video presentation by ValOre’s Colin Smith (New Project Review) and Dustin Zinger (Investor Relations).

Next Steps

As we continue with a property-wide exploration program at Pedra Branca, there will be a t steady news flow in Q4 2020 and Q1 2021, to include results from:

ValOre’s advancement of the Pedra Branca PGE project has been greatly assisted by the support of the local communities surrounding Pedra Branca, in particular the wonderful people of Capitão Mor. Our highest priority is to operate safely and make a positive impact on the local community. Over the past year, we have grown a first-class team, which includes incredibly hard working and competent professionals in Brazil, Canada, USA and UK.

We thank our shareholders for their patience as we advance this emerging PGE district – we feel the potential prize is most certainly worth the wait.

On behalf of the Board of Directors,

“Jim Paterson”

James R. Paterson, Chairman and CEO

ValOre Metals Corp.

AUGUST 6, 2020 ValOre Provides Update on Pedra Branca Activities

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, who oversees New Project Review for ValOre.

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 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+ Au contained in 27.2 million tonnes grading 1.22 g/t 2PGE+Au (see ValOre’s July 23, 2019 news release). PGE mineralization outcrops at surface and all of the currently known inferred 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 NI 43‐101 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 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 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 toll free at 1.888.331.2269, at 604.646.4527, or by email at contact@valoremetals.com.

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 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.