ValOre Reminds Shareholders of Proxy Cutoff in Connection with the Annual and Special Meeting to Approve the Sale of the Angilak Property to Labrador Uranium

VANCOUVER, British Columbia, May 09, 2023 (GLOBE NEWSWIRE) -- ValOre Metals Corp. TSX?V: VO; OTCQB: KVLQF; Frankfurt: KEQ0, ("ValOre" or the "Company"). Further to ValOre's news release on March 14, 2023, ValOre reminds its shareholders to deposit their proxies and/or voting instruction forms in connection with the upcoming annual and special meeting of ValOre shareholders (the "Meeting") scheduled to take place on May 12, 2023 to approve, inter alia, the proposed plan of arrangement under the provisions of the Business Corporations Act (British Columbia) whereby ValOre will sell its interest in the Angilak Property uranium project in Nunavut Territory to Labrador Uranium Inc. (the "Transaction"). In order for ValOre shareholder votes to be counted, proxies submitted must be received by 10:00 am, Pacific Time, on Wednesday, May 10, 2023. Additional information regarding the matters to be considered at the Meeting and the Transaction are described in the notice of annual and special meeting and management information circular in respect of the Meeting, each dated April 13, 2023 (the "Information Circular") that was mailed to shareholders of record as of April 10, 2023 and available under ValOre's profile at www.sedar.com. 

The Company also announced that in connection with the financial advisory services provided to the Company by Canaccord Genuity Corp. ("Canaccord") in connection with the Transaction, the Company has agreed, subject to the approval of the TSX Venture Exchange, to settle a portion of the fees payable to Canaccord by issuance of 1,793,900 shares of the Company at a price of $0.2231 per Company share. Shares issued to Canaccord are subject to a hold period of four months plus one day from the date of issuance. Further details of Canaccord's engagement can be found in the Information Circular.

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 at 604-653-9464, or by email at [email protected].

ValOre Metals Corp. is a proud member of Discovery Group. For more information please visit: http://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.

Forward Looking Information

Certain statements and information herein contain forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Such forward-looking statements include but are not limited to statements or information with respect to: the proposed Transaction.

Although management of the Company believe that the assumptions made and the expectations represented by such forward-looking statements are reasonable, there can be no assurance that forward-looking statements will prove to be accurate. Forward-looking statements by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to: the Transaction may not close on the terms currently contemplated, or at all; risks relating to the receipt of all requisite approvals for the proposed Transaction; changes in general economic conditions or conditions in the financial markets; and risks related to general economic conditions.

The Company does not undertake to update any forward-looking information, except in accordance with applicable laws.