Capitalizing on a Massive Opportunity: Ownership of an Entire District in Brazil Pedra Branca PGE+Au Project, Northeastern Brazil TSX-V: VO OTC: KVLQF 46 78 45 79 Pd Pt Rh Au FRANKFURT: KEQ0 Palladium Platinum Rhodium Gold www.valoremetals.com 106.42 195.08 102.95 196.97
Forward Looking Statements This presentation contains "forward-looking statements". These forward-looking statements are made as of the date of this presentation and ValOre Metals Corp. does not intend, and does not assume any obligation, to update these forward-looking statements. Forward-looking statements include, but are not limited to, statements with respect to the timing and amount of estimated future exploration, success of exploration activities, expenditures, permitting, and requirements for additional capital and access to data. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related to actual results of current exploration activities; changes in project parameters as plans continue to be refined; the ability to enter into joint ventures or to acquire or dispose of property interests; future prices of mineral resources; accidents, labor disputes and other risks of the mining industry; ability to obtain financing; and delays in obtaining governmental approvals or financing. This presentation does not constitute an offer to sell or solicitation of an offer to buy any securities of ValOre Metals Corp. Susan Lomas, P.Geo., of LGGC is the Qualified Person, as defined in NI 43-101, responsible for the mineral resource estimates as reported herein. The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in NI 43-101 and reviewed and approved by Colin Smith, P.Geo., who oversees New Project Review for ValOre. JUNE 2020 | 2 TSX: VO | OTC: KVLQF | FRANKFURT: KEQ0 | www.valoremetals.com
The Opportunity – Ownership of Entire PGE District in Brazil 46 Pd V AL O RE ’ S PEDRA BRANCA PROJECT OFFERS INVESTORS OWNERSHIP AND CONTROL OF AN ENTIRE PLATINUM GROUP ELEMENTS (PGE) DISTRICT IN CEAR Á STATE , NORTH Palladium 106.42 EASTERN BRAZIL 78 Pt ▪ V EHICLE AND T EAM Platinum 195.08 • TSX-V company; high insider ownership; strong experienced and successful team 45 Rh ▪ S UBSTANTIAL P RIOR I NVESTMENT Rhodium • Excellent access and infrastructure; US$35M spent on exploration by prior groups 102.95 79 Au ▪ H IGH V ALUE , L ARGE S CALE M INERALIZATION Gold • 38,000 hectares with property wide exploration targets 196.97 • >1M oz NI 43-101 with significant expansion potential Palladium ~US$2,000/oz, up >70% since • High grade and near surface targets Jan 1/19 and Platinum >$800/oz ▪ I NNOVATION AND P ROCESS I MPROVEMENT PGE mine production supply faces • Employing new technologies and techniques combined with boots on ground exploration have jurisdictional risk (Russia 40%, South yielded a new perspective and significant upside for shareholders Africa 39%, North Am 14%, Other 7%) Industry consolidation occurring, but very ▪ D ISCOVERY P IPELINE IS FULL few junior explorers/developers with high quality projects JUNE 2020 | 3 TSX: VO | OTC: KVLQF | FRANKFURT: KEQ0 | www.valoremetals.com
2020 Drill Program ▪ Two Fully Permitted Phases ▪ Phase 1 Fully Funded and expected to begin in June ▪ Three Classes of Targets ▪ Resource Expansion ▪ New Discovery ▪ Target Advancement ▪ Significant Resource Expansion and Discovery potential JUNE 2020 | 4 TSX: VO | OTC: KVLQF | FRANKFURT: KEQ0 | www.valoremetals.com
Robust PGE Market ▪ Palladium prices near VO-V vs PGE+Au $2,000 per ounce 500% May 28 Today Change Tech Report 1 VO-V: $0.25 $0.24 -4% Pd: $1,000 ▪ Platinum prices are near 400% Pd: $1,337 $1,827 +37% Pt: $860 $1,000 per ounce Pt: $780 $802 +1% Au: $1,250 300% Rh: $2,840 $8,000 +182% Au: $1,279 $1,743 +36% 182% ▪ PGE mine production 200% from risky jurisdictions 100% 37% 36% ▪ Industry consolidation 0% 1% -4% occurring -100% May 28, 2019: ValOre Metals acquires Pedra VO-V Au Pd Pt Rh Branca PGE project 1. Metal price assumptions used in the Pedra Branca NI 43-101 Technical Report filed on SEDAR with effective date of May 28, 2019 JUNE 2020 | 5 TSX: VO | OTC: KVLQF | FRANKFURT: KEQ0 | www.valoremetals.com
Robust PGE Market – Supply Palladium Market Balance: Platinum Market Balance: Significant Jurisdictional Risk: 8-Year Supply Deficit Strong Investment Demand Palladium Supply by Region* North America South Africa 14% 39% Zimbabwe 5% Other 2% Russia 40% (1) F *Excludes supply from recycling. JUNE 2020 | 6 TSX: VO | OTC: KVLQF | FRANKFURT: KEQ0 | www.valoremetals.com
Robust PGE Market – Demand ▪ Demand Inelastic with Low Substitution Risk Palladium Demand (by Category) * Primarily used for catalytic converters in gasoline & gas- • hybrid automobiles (~85% of palladium demand) Electrical o ~3-7 grams of palladium per automobile 7% Chemical o Converts harmful pollutants to inert gas 4% Dental Strong demand growth with tighter emission requirements • 3% (higher loading of palladium) Other 2% • Substitution risk minimal with palladium catalytic converter Autocatalyst Jewelry efficiency 83% 1% ▪ Strong Demand Outlook From China *Excludes demand from investments, which has been a negative since 2014. • Stricter Chinese emissions legislation expected to trigger a step-change in demand from Chinese automakers o China currently ~30% of global auto-catalyst demand (up from ~20% in 2014) ▪ Long-term Demand Outlook Positive Hybrid vehicles • Fuel cells • JUNE 2020 | 7 TSX: VO | OTC: KVLQF | FRANKFURT: KEQ0 | www.valoremetals.com
Platinum + Palladium – Few Players Top 5 Producers Developers & Explorers Recent Transactions December 2019 ▪ ~85% of Global Pt+Pd Production ▪ Collective Market Cap: <US$200M ▪ Collective Market Cap: ~US$70B $750 Million June 2019 $286 Million May 2017 $2.2 Billion JUNE 2020 | 8 TSX: VO | OTC: KVLQF | FRANKFURT: KEQ0 | www.valoremetals.com
Capital Structure – The Right Vehicle Exchange: Symbols: Share Price: 52 Week High: 52 Week Low: Shares Outstanding: Market Capitalization: Capital: TSX-V VO $0.24 $0.405 $0.135 90.4 (basic) $21.7M $1.3 M OTC KVLQF US$0.17 US$0.30 US$0.06 103.2 (diluted) Frankfurt KEQ0 €0.21 €0.256 €0.0913 TSX-V: VO – 1 Year Price History Insider ownership >20% R ESOURCE , J ANGADA M INING … C LOSE M INES A SSOCIATES R ETAIL , I NSIDERS , O THER A DVISORS JUNE 2020 | 9 TSX: VO | OTC: KVLQF | FRANKFURT: KEQ0 | www.valoremetals.com
Strong Team Directors Management & Advisors Recent Transactions ▪ Proven track record of mineral discovery Jim Paterson Rob Scott Chairman & CEO Chief Financial Officer ▪ Project management and Northern Empire acquired development Dale Wallster Colin Smith for $117M by Coeur Mining Director New Project Review ▪ Physical commodity Jim Malone Thiago Diniz transactions Director Project Geologist 2008 IPO; 2010 Transaction Created a USA ▪ Legal, permitting, and Garth Kirkham Jeff Dare Met Coal Producer valued $250M project financing Director Corporate Secretary Rob Carpenter ▪ Capital markets and Luis Azevedo Corporate and Technical M&A success Director Advisor Acquired for $520M by Goldcorp ▪ Strong relationships and Brian McMaster Rob Brozdowski key connections within Director Technical Advisor Brazil John Robins Alex Heath Acquired for $650M by Special Advisor to the Board Strategic Advisor Rio Tinto JUNE 2020 | 10 TSX: VO | OTC: KVLQF | FRANKFURT: KEQ0 | www.valoremetals.com
Discovery Group Focu cus: s: Au Stage: Expl plor oration on O/ O/S: S: 44. 4.8M 8M Share e Price: e: $0. 0.30 30 Mark rket et Cap: p: $13. 3.4M Focu cus: s: Zn, n, Pb, b, Ag Stage: Re Resou source e Expa pansi sion on Focu cus: s: Au O/S: O/ S: 41. 1.6M Share e Price: e: $0. 0.53 53 Stage: : Adva dvanced ed Expl plora oration on Mark rket et Cap: p: $14. 4.0M 0M O/S: O/ S: 50. 0.5M Share e Price: e: $15. 15.33 Mark rket et Cap: p: $775 75M Focu cus: s: Au Stage: Re Resou source e Expa pansi sion on Focu cus: s: Cu O/S: O/ S: 43. 3.8M 8M Share e Price: e: $0. 0.23 23 Stage: Adva dvanced ed Expl plora oration on Mark rket et Cap: p: $10. 0.1M 1M O/S: O/ S: 36. 6.7M 7M Share e Price: e: $0. 0.53 53 Mark rket et Cap: p: $19. 9.5M Focu cus: s: PGE GE+Au, U Focu cus: s: Au Stage: Re Resou source e Expa pansi sion on Focu cus: s: Au Stage: Expl plor oration on O/S: O/ S: 90. 0.4M Share e Price: e: $0. 0.24 24 Stage: Devel evelop opment nt O/ O/S: S: 63. 3.3M 3M Share e Price: e: $0. 0.11 115 Mark rket et Cap: p: $21. 1.7M 7M O/S: O/ S: 135. 35.6M Share Pri rice: e: $1.85 Mark rket et Cap: p: $7. $7.3M Mark rket et Cap: p: $251 51M PEDRA BRANCA JUNE 2020 | 11 TSX: VO | OTC: KVLQF | FRANKFURT: KEQ0 | www.valoremetals.com
Right Connections Established Established connections with key contacts at a local, state, and federal level Ceará State Government JUNE 2020 | 12 TSX: VO | OTC: KVLQF | FRANKFURT: KEQ0 | www.valoremetals.com
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