Valore Metals

Overview

Sprott Asset Management CEO John Ciampaglia has called 2022 a “Dawn of a New Nuclear Renaissance” as governments worldwide strive to reduce emissions and realize they won’t likely meet their targets with wind and solar power alone. Nuclear energy currently supplies 10 percent of the world’s electricity, and as more nuclear power plants remain in operation and new ones come online, demand for uranium, a crucial element used to produce nuclear energy, will continue to rise.

In fact, in Q3 2022, uranium price reached a yearly high of US$52.27, a US$10 increase from January 2022. Based on the projected demand increase and a dwindling supply, some analysts anticipate the spot price for uranium to double to US107.70 by 2030. Investors can capitalize on this potential growth through commodity investing, energy ETFs or stocks of miners targeting uranium. When investing in a miner, investors benefit from both market trends and the company’s growth and successes.

ValOre is a member of the Discovery Group, an alliance of nine publicly traded companies with a track record of successfully increasing shareholder value, often through tactful exits via mergers and acquisitions. An experienced management team leads the company toward its goal of improving shareholder value at every opportunity.

ValOre’s Angilak project has significant upside potential due to its land area and deposits. The area represents Canada’s highest grade uranium resource outside Saskatchewan and one of the highest grade uranium resources on a global basis, according to ValOre VP of exploration Colin Smith.

ValOre Metals is also exploring its Pedra Branca PGE project in northeastern Brazil. As another district-scale mining project, the asset covers 56,852 hectares with multiple PGE and gold deposits. Ownership of the asset gives ValOre control of an entire PGE belt. The company has three additional projects for future exploration: Hatchet Lake, Baffin Gold and Genesis.

An experienced management team leads ValOre towards creating shareholder value as it continues to explore its significant assets. The team’s expertise includes mineral exploration, corporate administration, and international finance. Combined with added support from the Discovery Group, ValOre is poised to continually increase shareholder value through the exploration of its district-scale assets.

Company Highlights

• ValOre Metals is a Canadian exploration mining company focusing on district-scale, high-grade assets with uranium, PGE and gold deposits.
• The company is a member of the Discovery Group, an alliance of publicly traded companies striving to improve shareholder value through mergers and acquisitions.
• The Discovery Group has a track record of successful mergers and acquisitions that directly increase shareholder value. ValOre’s management team was involved in many of the Discovery Group’s notable transactions.
• The Angilak uranium project in Canada includes one of the highest-grade uranium deposits on a global scale. In addition, the project includes multiple notable uranium deposits, many of which reach the surface for straightforward extraction.
• ValOre’s Pedra Branca PGE-gold project in Brazil represents another district-scale opportunity and gives the company complete control over an entire PGE belt.
• An experienced management team with expertise in all aspects of the mining industry leads the company toward its goal of improving shareholder value.

Key Projects

Angilak Uranium Project

The Angilak project covers 59,583 hectares within Canada’s Nunavut Territory. The project contains the highest-grade uranium resource of scale outside of the Athabasca Basin. ValOre recently commenced an C$11 million exploration campaign throughout the project focusing on high-priority targets.

Project Highlights:

• NI 43-101 Inferred Resource Estimate: Completed drilling and sampling programs have resulted in a NI 43-101 inferred resource estimate of 43.3 million lbs of 43.3 Mlbs U3O8 (triuranium octoxide) grading 0.69 percent in 2.8 million tonnes. Additionally, known deposits contain 1.88 million ounce (Moz) silver grading 20.6 g/t, 10.4 million lbs of molybdenum grading 1.67 percent and 15.6 million lbs of copper grading 0.25 percent.
• High-Grade Uranium Deposits: The grade of uranium influences the cost-effectiveness of metallurgy processes and overall recovery. The uranium at the Angilak project is amenable to alkaline leaching and LAC 50 beneficiation, allowing for up to 96.7 percent recovery with low reagent consumption.
• Encouraging Results from Completed Drill Program: The 2022 RC drilling program drilled 27 holes, 22 intersecting near-surface radioactivity — a strong indication of uranium.

Pedra Branca PGE-Gold Project

The Pedra Branca project in northeast Brazil covers 56,852 hectares, including over 70 kilometers of a prospective Archean mafic-ultramafic “Troia Unit.” The district-scale asset gives ValOre complete control of the entire PGE belt. ValOre is presently compiling and reviewing historical data, conducting geological mapping, and conducting Trado auger drilling/trenching.

Project Highlights:

• Close Proximity to Transportation and Cities: The Pedra Branca project is close to the central city of Fortaleza, the city of Capitao Mor, Fortaleza International Airport and the Fortaleza Deep Water Port. The result is straightforward access to a skilled workforce and international transportation during future development.
• Major Historical Exploration Investment: The project has already received US$35 million in exploration funding from previous ownership and an additional CAD$6.1 million from ValOre in 2020 and 2021.
• Significant NI 43-101 Inferred Resources: The Pedra Branca asset has an inferred resource estimate of 2.2 Moz of palladium, platinum and near-surface gold. Grades reach up to 4.65 g/t PGE and gold.

Additional Projects

In addition to the Angilak and Pedra Branca projects, ValOre also owns three additional projects with tremendous potential for future exploration.

Project Highlights:

• Hatchet Lake: The company has 100 percent ownership of the Hatchet Lake uranium property, subject to a 2 percent net smelter return. The asset covers 13,711 hectares comprising six claims adjacent to the Athabasca Basin.
• Baffin Gold: The district-scale gold belt in South Dakota is 100 percent owned by ValOre. The asset contains a gold belt with geological similarities to multi-million-ounce deposits such as Meadowbank and Lupin.
• Genesis: ValOre holds a 50 percent interest in the 131,412-hectare Genesis property northeast of Saskatchewan’s prolific Athabasca Basin. Roughrider Exploration Limited is currently funding the exploration of the highly prospective asset.

Management Team

Jim Paterson - Chairman and CEO

Jim Patterson is a principal of Discovery Group and has been actively involved in marketing and corporate development activities for the group of companies since 2002. Paterson has 23 years of industry experience, including capital raises, acquisitions, joint-ventures, spin-outs, RTOs, and IPOs. He is the chairman and CEO of Valore Metals Corp. and was a driving force behind more than $60 million in equity financings for ValOre that lead to multiple discoveries and a 200 percent increase in mineral resources at ValOre’s Angilak uranium project.

Paterson was a long-standing and active director of Kaminak Gold Corp. (acquired by Goldcorp.) and founding director of Northern Empire Resources Corp. (acquired by Coeur Mining). In 2007, He founded Corsa Capital Ltd. Corsa’s 2008 IPO led to a 2010 transaction which created a leading U.S. metallurgical coal producer with a C$250 million market capitalization.

Paterson is a director of Great Bear Royalties Corp., and Strategic Advisor to Great Bear Resources Ltd., Genesis Metals Corp., Kodiak Copper Corp., and Ethos Gold Corp.

Dale Wallster - Director

Dale Wallster is a geologist and a prospector with over 40 years experience, focused on targeting and discovery of unconformity-related uranium, structurally-controlled gold, and VMS deposits.

He was president and founder of Roughrider Uranium Corp., a company acquired by Hathor Exploration Limited. Wallster and his team are widely credited in the mineral exploration sector for the discovery of Hathor's Roughrider deposit. In January 2012, Hathor became a wholly owned subsidiary of Rio Tinto as part of a C$650 million acquisition.

Jim Malone - Director

Jim Malone was chairman of the WNA's Fuel Technology Working Group, widely recognized as a nuclear industry and nuclear fuel expert, with more than 50 years of experience in the downstream business. He was the chairman of Hathor Exploration at the time of Rio Tinto’s acquisition for $650 million, and senior vice-president at Lightbridge Corporation.

Garth Kirkham - Director

Garth Kirkham has over 30 years of experience in 3D geoscience computer modeling. He is currently heading Kirkham Geosystems Ltd., which provides consulting services to the environmental, mining, geotech and oil & gas industries.

He obtained a bachelor's degree in science from the University of Alberta in 1983, completing his degree with majors in geophysics, geology and mathematics, and is a registered professional geoscientist in Alberta, Northwest Territories, BC, Ontario and Manitoba.

Darren Klinck - Director

Darren Klinck is an accomplished mining executive with a wide range of management experience working throughout Australasia & The Americas. He was president & CEO of Bluestone Resources following the acquisition of the Cerro Blanco gold project in Guatemala in 2017, where he led the team that financed and advanced the project through resource expansion, feasibility and engineering phases of the project development. Prior to that, he spent more than ten years with OceanaGold as a member of the executive committee that achieved significant growth and business expansion to become a multi-mine, international gold mining company growing from a sub-C$100 million market capitalization to greater than C$3 billion market capitalization.

Over the past 20 years, Klinck has been instrumental in negotiating both equity and debt financing packages totaling more than $800 million and has significant experience leading teams in emerging markets with a strong focus on corporate social responsibility and community engagement programs, as well as extensive government relations activities.

Robert J. Scott - CFO

Robert Scott, CPA, CA, CFA brings more than 20 years of professional experience in accounting, corporate finance, and merchant and commercial banking and has served on the management teams and boards of a number of Canadian publicly traded companies. He is a founder and president of Corex Management Inc., a private company providing accounting, administration and corporate compliance services to privately held and publicly traded companies. Scott currently holds senior management and board positions with a number of TSX Venture Exchange issuers including Riverside Resources Inc., Great Bear Resources Ltd. and Northern Empire Resources Corp.

Colin Smith - VP of Exploration

Colin Smith is a registered professional geologist (P.Geo.) in British Columbia, Saskatchewan, Nunavut and the Northwest Territories with over 16 years experience developing, executing and managing exploration campaigns in North and South America, ranging from early-stage project generation to near-mine resource delineation. Smith’s passion for exploration and discovery has garnered him technical expertise with structurally hosted gold, ultramafic-associated PGEs, porphyry copper-gold, diamonds, unconformity-related uranium and coal. Smith started with ValOre in August 2018, overseeing new project review for the company. This followed his role as senior exploration geologist with SSR Mining Inc. at the Seabee Gold Operation in northern Saskatchewan, where he designed and implemented all Seabee-based exploration activities, resulting in multiple auriferous discoveries and resource delineation. Smith holds a B.Sc. in geology from the University of British Columbia (2007), and an M.Sc. in economic geology from the University of Victoria (2012).

Thiago Diniz - Exploration Manager

Thiago Diniz is an exploration geologist with over eight years of experience working on early- to advanced-stage fertilizer, base and precious metals projects, both in Brazil and Canada, including three world-class mineral deposits (Troilus Au-Cu, in Quebec, Canada; and Belo Sun – Au, and Brazil Potash, in Brazil). He is experienced in the development and management of large-scale drilling, field mapping and metallurgical programs. Diniz is a registered P.Geo. in Ontario and Quebec (Géo) and holds a B.Sc. in geology from Universidade Federal de Minas Gerais (2013) and a M.Sc. in economic geology from Queen’s University, Kingston (2019).

Jeffrey Dare - Corporate Secretary

Jeff Dare has over ten years of professional experience managing external reporting and corporate compliance for TSX Venture Exchange and CSE listed issuers. He currently serves as the corporate secretary and advisor of a number of listed issuers, and works closely with external partners and service providers in the areas of legal, compliance, transfer agency, audit, banking and insurance. He obtained his BA from Simon Fraser University.