ValOre Metals Corp. provided an update on the previously announced transaction whereby ValOre has agreed to acquire the Pedra Branca Project in Brazil from Jangada Mines PLC. Upon closing of the Acquisition, Jangada will have the right to appoint up to two members to ValOre's Board of Directors for a two year term. The two directors chosen by Jangada to join ValOre's board of directors are both seasoned industry professionals: Mr. Brian McMaster, Jangada's Executive Chairman, and Mr. Luis Azevedo, Jangada director and a Brazilian national. The term may be extended if mutually agreed in writing by ValOre, Jangada and each of the nominee board members.