ValOre Metals Corp. Announces Voting Results of AGM

ValOre Metals Corp.

(VO:TSX-V)

(“ValOre” or the “Company”) today announced the Annual General Meeting voting results.

ValOre is pleased to announce the voting results of its recent annual general meeting of shareholders ("AGM"), which was held on June 24, 2020. Shareholders approved the business items of setting the size of the Board of Directors at six, including the election of each director nominee. Detailed voting results are as follows:

Nominee	# Voted For	%Voted For	# Votes Withheld	% Votes Withheld
James Paterson	21,512,318	99.70	65,314	0.30
Dale Wallster	21,486,818	99.58	90,814	0.42
James Malone	21,486,818	99.58	90,814	0.42
Garth Kirkham	21,486,818	99.58	90,814	0.42
Luis Azevedo	21,486,648	99.58	90,984	0.42
Brian McMaster	21,480,762	99.55	96,870	0.45

Shareholders also approved the appointment Davidson & Company LLP, as the auditors of ValOre by 98.30% of votes in favor, while the Stock Option Plan and resolution authorizing the continuation of the Company's Rolling Stock Option Plan was approved with 99.29% in favor.

The composition of the committees of the Board of Directors, all members being independent directors, are as follows:

• Audit: Dale Wallster (Chair), James Malone, Garth Kirkham
• Compensation: Garth Kirkham (Chair), Dale Wallster, James Malone
• Corporate Governance: James Malone (Chair), Dale Wallster, Garth Kirkham

About ValOre Metals Corp.

ValOre Metals Corp. (TSX‐V: VO) is a Canadian company with a portfolio of high‐quality exploration projects. ValOre’s team aims to deploy capital and knowledge on projects which benefit from substantial prior investment by previous owners, existence of high-value mineralization on a large scale, and the possibility of adding tangible value through exploration, process improvement, and innovation.

In May 2019, ValOre announced the acquisition of the Pedra Branca Platinum Group Elements (PGE) property, in Brazil, to bolster its existing Angilak uranium, Genesis/Hatchet uranium and Baffin gold projects in Canada.

The Pedra Branca PGE Project comprises 38 exploration licenses covering a total area of 38,940 hectares (96,223 acres) in northeastern Brazil. At Pedra Branca, 5 distinct PGE+Au deposit areas host, in aggregate, a NI 43-101 Inferred Resource of 1,067,000 ounces 2PGE+Gold (Palladium, Platinum and Gold; Pd, Pt+Au) contained in 27.2 million tonnes (“Mt”) grading 1.22 grams 2PGE+Gold per tonne (“g 2PGE+Au/t”) (see ValOre’s July 23, 2019 news release). PGE mineralization outcrops at surface and all of the inferred resources are potentially open pittable.

Comprehensive exploration programs have demonstrated the "District Scale" potential of ValOre’s 89,852-hectare Angilak Property in Nunavut Territory, Canada that hosts the Lac 50 Trend having a NI 43‐101 Inferred Resource of 2,831,000 tonnes grading 0.69% U3O8, totaling 43.3 million pounds U3O8U3O8. ValOre's. For disclosure related to the inferred resource for the Lac 50 Trend uranium deposits, please refer to ValOre's news release of March 1, 2013.

ValOre’s team has forged strong relationships with sophisticated resource sector investors and partner Nunavut Tunngavik Inc. (NTI) on both the Angilak and Baffin Gold Properties. ValOre was the first company to sign a comprehensive agreement to explore for uranium on Inuit Owned Lands in Nunavut Territory and is committed to building shareholder value while adhering to high levels of environmental and safety standards and proactive local community engagement.

On behalf of the Board of Directors,

"Jim Paterson"

James R. Paterson, Chairman and CEO

ValOre Metals Corp.

For further information about, ValOre Metals Corp. or this news release, please visit our website at www.valoremetals.com or contact Investor Relations toll free at 1.888.331.2269, at 604.646.4527, or by email at [e-mail].

ValOre Metals Corp. is a proud member of Discovery Group. For more information please visit: www.discoverygroup.ca 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.