ValOre Metals Sets Out Its Plan for a 100,000-Hectare Precious Metals District in Brazil After Key Acquisition

• ValOre Metals is combining 2 neighbouring precious metals projects in Brazil's Ceará State into a single district covering 100,000 hectares
• The deal requires shareholders of the company being acquired, South Atlantic Gold Corporation, to vote in favour at a meeting scheduled for June 13, 2025
• ValOre's team in Brazil has been on the ground for over 5 years & is positioned to begin work on the newly added gold project from day one after closing
• A detailed data review & regional survey programme is planned for the second half of 2025, to be followed by drilling & ground work in 2026
• ValOre has already begun engaging with Brazilian regulators to ensure the transition goes smoothly & exploration can advance without delay

Company Overview

ValOre Metals Corp. (TSX-V: VO, OTCQB: KVLQF, FSE: KEQ0) is a Canadian exploration company that targets projects with a history of significant prior investment, high-value mineralisation at scale, & clear potential to add value through exploration & innovation. The company's primary asset is the Pedra Branca platinum group metals (PGM) project in Ceará State, Brazil, which it has been advancing since 2019. ValOre is in the process of adding a second project in the same state, the Pedra Branca Gold Project, through its proposed acquisition of South Atlantic Gold Corporation. Together, the 2 properties would form a 100,000-hectare precious metals district. Platinum group metals are a collection of rare & valuable metals that includes platinum & palladium, used across industries ranging from jewellery to vehicle manufacturing.

What Is Happening & Why It Matters

ValOre has outlined how it plans to combine 2 separate precious metals projects in Brazil's Ceará State into a single, large exploration district, & what work it will carry out once the deal officially closes.

The Pedra Branca Gold Project, currently held by South Atlantic Gold, already sits directly next to ValOre's existing PGM project. For this deal to go ahead, shareholders of South Atlantic Gold must vote to approve it. That vote is scheduled for June 13, 2025. South Atlantic Gold's board has unanimously recommended that shareholders vote in favour.

Jim Paterson, ValOre's Chairman & Chief Executive Officer (CEO), set the tone for what the company is targeting:

"Brazil is a great place to be advancing mining exploration and development projects today. With our in-country team actively supported by a strong capital markets presence, we are very excited to rapidly advance work at the 100,000-hectare Pedra Branca precious metals district once South Atlantic shareholders approve the transaction with ValOre."

A Team Already in Place

One of the more straightforward arguments ValOre is making to investors is that it is not starting from scratch. The company already has a team based in Brazil that has been working on its existing PGM project for more than 5 years. That team has completed more than 23,000 metres of drilling on top of 30,000 metres of historical drilling, 2,819 metres of trenching, 885 auger holes, & collected 8,048 rock & soil samples. This work contributed to ValOre doubling the historical mineral resource at the PGM project, as reported in the company's news release dated March 24, 2022, which noted an expansion of 106% to 2.2 million ounces at 1.08 grams per tonne (g/t) 2 Palladium Equivalent & Gold (2PGE & Gold).

The company's existing operational base in the nearby town of Capitão Mor, a community of around 950 people, is already positioned to support both projects. ValOre says this means it can share equipment, staff, & logistics across both properties rather than setting up 2 separate operations, which lowers costs from the outset.

Thiago Diniz, ValOre's Vice President (VP) of Exploration, spoke to the team's readiness:

"With years of experience in the region, our team brings valuable local knowledge and technical strength to the Pedra Branca Gold Project. We're ready to hit the ground running and advance the Pedra Branca project immediately following the completion of the ValOre & South Atlantic transaction."

What the Second Half of 2025 Will Look Like

Once the deal closes, ValOre says it will immediately begin a systematic review of all existing data from the gold project. For investors new to mining, this is a standard step when a company acquires a project. It involves going through historical drill samples & records to confirm the data is accurate & usable before committing to any new drilling.

The programme will include re-examining all available drill samples from the gold project & re-testing key intervals to confirm the historical data holds up. ValOre will also reprocess results from a high-resolution aerial magnetic survey, which is a type of scan done by drone that maps what lies beneath the surface, completed by South Atlantic Gold in 2022. The goal is to identify new areas of interest that may not have been fully explored.

The company has also announced a partnership with VRIFY, a technology platform that uses artificial intelligence (AI) to analyse geological datasets. ValOre says it will apply VRIFY's tools to data from both projects to generate new insights & identify exploration targets more efficiently.

Alongside these desk-based studies, the team will carry out a regional survey across a gold-prospective trend stretching more than 50 kilometres, to identify where future drilling should be focused. All of this work in the second half of 2025 is intended to lead into a drilling & ground-based exploration programme in 2026.

Regulatory Groundwork Already Under Way

ValOre has already begun engaging with 2 Brazilian government bodies ahead of the deal closing: SEMACE (Ceará State Environmental Agency) & ANM (National Mining Agency). This early engagement is aimed at making the permitting process run smoothly once work begins, rather than waiting until the deal is done to start those conversations.

On the broader significance of bringing the 2 projects together under a single team, Paterson concluded:

"We look forward to being able to deliver significant exploration results and create value on behalf of all ValOre and South Atlantic stakeholders."

Next Steps

The immediate focus is the South Atlantic Gold shareholder vote, scheduled for June 13, 2025. If shareholders approve the deal, ValOre's team will begin its data compilation & review programme in the second half of 2025. A follow-up exploration programme targeting drilling & ground work is planned for 2026, informed by the analysis carried out in the months immediately after closing.

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