ValOre Metals Positions Pedra Branca as Foundation for Broader Brazilian Platform

• ValOre Metals Corp. owns the Pedra Branca project in Ceara State, Brazil, estimated to contain 2.2 million ounces of combined platinum, palladium and gold.
• The company is pursuing acquisitions and partnerships in Brazil, aiming to build a broader precious metals platform beyond a single project.
• An economic study for Pedra Branca is underway and expected to be completed by late 2026, with permitting and environmental review to follow in early 2027.
• ValOre's shares are trading well below their 52-week high, giving the company a market value of roughly $26 million, smaller than most of its listed peers.
• Rising platinum, palladium and gold prices, driven partly by a global supply shortage, form the backdrop for ValOre's growth strategy.

ValOre Metals (TSX-V: VO | OTCQB: KVLQF | FSE: KEQ0) has outlined plans to grow beyond its single project in Brazil, according to a corporate presentation dated June 2026. The company owns the Pedra Branca project in Ceara State, Brazil, which contains platinum, palladium and gold. Rather than focusing only on developing this one project, ValOre says it wants to acquire or partner on other precious metals projects in Brazil, positioning itself as a builder of a broader Brazilian mining business rather than a single-project company.

About the Pedra Branca Project

Pedra Branca contains an estimated 2.2 million ounces of combined platinum, palladium and gold, based on an independent study completed in 2022. The project covers a large area of land and includes several separate zones where mineralization has been found close to the surface, which can make future mining less costly to access.

Four of these zones each contain more than 1 million ounces of metal, and two more zones to the south are similarly sized. The company also drilled several new zones in 2023 that are not yet included in these resource totals, including a new discovery area. Management describes an emerging trend connecting these zones that could point to further growth in the overall size of the project.

ValOre is also testing different methods of processing the ore, working with a university partner, to help determine how efficiently the metals can be recovered.

Development Timeline

ValOre states it has invested meaningfully in exploration drilling at Pedra Branca in recent years, work that the company says helped roughly double the size of the estimated resource. In late 2025, the company hired an engineering firm to begin work on an economic study, a report that will estimate the cost of building a mine and what the project could be worth. That study is expected to be completed by late 2026, with permitting and environmental review work to follow in early 2027.

It's worth noting that, because this economic study has not yet been completed, ValOre has not disclosed how much it would cost to build a mine, how profitable the project might be, or how much metal it could produce each year. These are the kinds of numbers investors typically wait for before assessing a project's real-world value.

Acquisition Strategy

Beyond Pedra Branca, ValOre says it is looking to acquire other advanced gold projects in northeast Brazil, particularly ones that already have significant work and investment behind them. The company points to its access to funding through its stock market listings, along with an experienced Brazil-based team, as reasons it believes it can execute this strategy.

The company's board members have a history of involvement in other mining deals that were later bought by larger companies, including transactions with Rio Tinto, Coeur Mining, Royal Gold and Goldcorp. Chairman Jim Paterson has led fundraising and acquisitions in the mining sector for nearly three decades. Chief Executive Officer Nick Smart previously worked for over 20 years at major mining companies Anglo American and De Beers. Vice President of Exploration Thiago Diniz is a geologist with over 15 years of experience working on fertilizer, base metal and precious metals projects in Brazil and Canada.

Market Backdrop

ValOre's strategy comes at a time of rising prices for the metals it produces. Platinum, palladium and gold have all reached new highs over the past year, with platinum and gold posting particularly large year-over-year gains. The company points to a global shortage of platinum and palladium, driven by strong demand from the auto industry, jewelry makers and investors, alongside a lack of new mine supply. This shortage, if it continues, could support higher prices for producers like ValOre in the future.

Company Snapshot

As of early June 2026, ValOre's shares were trading at $0.10, well below the $0.16 high they reached over the past year. The company has a modest amount of cash on hand and a total market value of roughly $26 million, small even by the standards of early-stage mining companies. Company insiders and their close associates own about 30% of the shares, while investment funds focused on mining hold about a quarter, and the remainder is held by retail investors and other shareholders.

How ValOre Compares to Similar Companies

ValOre is one of several small companies working on platinum and palladium projects around the world, but it is currently valued lower than most of its peers, some of which are worth several times as much. As of an earlier date this year, ValOre's market value was estimated at roughly $27 million, similarly small compared to those peers. Part of this gap may reflect the fact that some of those peer projects are more advanced, with completed economic studies, while ValOre's own study is still underway. The company's 2026 timeline of milestones, including the upcoming economic study and its acquisition plans, suggests a path toward narrowing this valuation gap, though this has not been stated as an explicit company target.

It is worth noting that resource and grade figures across these companies come from each company's own separate technical reports and are not always directly comparable, a caveat the company itself acknowledges in its materials.

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