ValOre Metals Corp. reported assay results from the Trapia 1 deposit ("Trapia 1") area as part of the 2023 Phase 1 drill program at ValOre's 100%-owned Pedra Branca Platinum Group Elements ("PGE", "2PGE+Au") Project ("Pedra Branca") in northeastern Brazil. The 2023 core drilling program at Trapia 1 has successfully demonstrated resource expansion potential, extending known PGE mineralization 400 metres outside of the existing Trapia 1 resource boundary, including high-grade palladium-platinum mineralization within broad intersections of PGE-mineralized ultramafic rocks, and high-grade magmatic nickel sulfide mineralization.

The 2023 results build on the 31 previously drilled core holes at Trapia 1 to extend known PGE mineralization to almost 1 kilometre in strike length and down to 300 metres vertical depth, in a deposit that is already the largest resource zone at Pedra Branca. A total of 1,326 metres ("m") were drilled in 4 step-out drill holes, with PGEs intersected in all 4 holes, extending mineralization 400 m outside of the 2022 NI 43-101 optimized resource pit; New assays from three of the four holes include: 13.55 m at 0.10 grams per tonne palladium + platinum + gold ("g/t 2PGE+Au"), 0.32% nickel ("Ni"), 0.06% copper ("Cu") starting from 283.2 m, and including 3.10 m at 0.22 g/t 2PGE+ Au, 0.95% Ni, 0.21% Cu from 283.7 m and 1.4 m at 0.15 g/t 2PGE +Au, 0.52% Ni, 0.05% Cu from 294.5 m in drill hole DD23TU32; 88.25 m at 0.42 g/t 2PGE&Au from 241.2 m in drill hole DD23 TU35; 3Determination of Ni and Cu sulfides by atomic absorption spectrometry (AAS), except drill holes DD23TU34 and TU35. 2023 Pedra Branca Drill Program Summary: 6,152 m drilled in 49 core holes distributed along 8 separate exploration target and resource zones.

The 2022 Technical Report is entitled "Independent Technical Report -Mineral Resource Update on the Pedra Branca PGE Project, Ceara State, Brazil" was prepared as a National Instrument 43-101 Technical Report on behalf of ValOre Metals Corp. with an effective date of March 08, 2022. The 2022 Technical Report by Independent qualified persons, Fabio Valerio (P.Geo.) and Porfirio Cabaleiro (P.Eng.), of GE21, commissioned to complete the mineral resource estimate while Chris Kaye of Mine and Quarry Engineering Services Inc. (MQes), was commission commission commission for the 2023 core holes.