ValOre Metals Corp. provided a project update. ValOre continues to prioritize project exploration and advancement efforts on the Pedra Branca PGE deposits that exhibit the potential for the shortest development timeline with the highest operating margin.

Key aspects of focus to achieve these goals, include: grade and metallurgical characteristics of PGE mineralization; depth and orientation of deposits and related strip ratio of the optimized resource pits; proximity of deposits to one another and to the proposed location of future on-site processing facilities; Social Licence, local employment, infrastructure and water availability. The Curiu, Esbarro, Cedro, Cana Brava and Salvador PGE deposits are now ValOre?s top priority areas of focus. Curiu, Esbarro, Cedro and Cana Brava host, in aggregate, a 2022 NI 43-101 inferred mineral resource estimate of 1.031 million ounces (?Moz?) palladium + platinum + gold (?2PGE+Au?) in 27.2 million tonnes (?Mt?); These four deposits are located within a 3-kilometre (?km?) radius; Average resource strip ratio for these 4 deposit areas is approximately 2.1:1 waste to ore; Curiu and Esbarro collectively average a resource strip ratio of approximately 0.7:1 waste to ore; Maximum vertical depth of the mineralization drilled to form resource pits at these 4 deposits is approximately 150 metres; The recently discovered Salvador target is located within 5km from those resource zone and highlights significant potential for high grade PGE shallow resources and improved economics in the surrounding area.

Planned 2024/2025 Tasks/Actions include: Advanced metallurgical studies to define processing flowsheets; Complete a marketability study for Pedra Branca PGE-enriched concentrate; Complete additional exploration and deposit definition drilling at Salvador target; Updated NI 43-101 Technical Report disclosing a mineral resource estimate update, including reclassification of certain zones into the ?indicated category? subject to an increased level of confidence in metallurgical recoveries and drill hole spacing; Complete a preliminary economic assessment (?PEA?) report, including CAPEX and OPEX optimization; Commence permitting processes and environmental impact assessment (?EIA?); Define timeline to production. Exploration Upside: 3 additional resource zones, Trapiá, Massapê and Santo Amaro, host, in aggregate, an inferred mineral resource estimate of 1.167 Moz 2PGE+Au in 36.4 Mt; The recently completed 2023 drill program confirmed the potential for Pedra Branca resource expansion, with PGE mineralization drilled in Galante, Troia, Nambi and Ipueiras (CLICK HERE for news release dated September 21, 2023); Significant additional discovery potential along more than 80 km of Pedra Branca?s prospective, underexplored, property-wide PGE trend.