ValOre Metals Corp. announced a fully funded Phase 1 core drilling program at ValOre's 100%-owned Pedra Branca Platinum Group Elements Project in northeastern Brazil. 2023 Drill Program Highlights: Fully funded and permitted two-rig 5,000-metre Phase 1 core drilling program to commence in early June; Program to test four high priority pipeline targets which were advanced through 2022 exploration but not included in the 2022 NI 43-101 Resource Estimate: Galante, Troia, Nambi and Ipueiras; Resource expansion potential will also be tested along strike and at depth at the Massape PGE Deposit (2022 NI 43-101 Inferred Resource of 129,000 oz 2PGE+Au contained in 3.3 Mt grading 1.21 g/t 2PGE+Au), which remains wide open in all directions; and Goal of program is to add new zones and expand existing deposits which form part of the March 24, 2022 NI 43-101 inferred resource at Pedra Branca of 2.198 Moz 2PGE+Au contain in 63.6 Mt grading 1.08 g/t 2PGE&Au;.

Brazilian drilling company DrillGeo Geologia e Sondagem, which drilled 9,300 m during the 2021 drill program, has been engaged by ValOre for Phase 1. Phase 1 Drill Program Targets. Drilling will commence in early June at the Galante target area, which represents the longest and most prospective undrilled trend at Pedra Branca, as evidenced by the 3-kilometre-long cumulative palladium-platinum soil anomaly, multiple high-grade Trado®? auger holes and rock assays, in addition to 7 mineralized trenches excavated throughout the trend.

Ipueiras, Troia and Nambi also represent drill-ready pipeline targets developed in 2022 to be tested in the Phase 1 drill program. Phase 1 Drill Program targets at Pedra Branca. ValOre's team continues to advance the pipeline targets at the Pedra Branca project.

Exploration is ongoing at several additional targets along the prospective mafic-ultramafic Troia Unit belt, including Synform, Pitombeiras and Talhado.