Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector: Mining

17 February 2021

 Jangada Mines plc ('Jangada' or the 'Company')

ValOre Announcement

Jangada Mines plc, a natural resources company, is pleased to note the announcement released on 16 February 2021 by TSX-V listed ValOre Metals Corp. ('ValOre'), in which Jangada holds a 18.03 per cent interest.

The announcement has been reproduced exactly as reported below and can be viewed in full on ValOre's website using the following link: http://valoremetals.com/news-media/news-releases/2021/valore-announces-upsize-of-non-brokered-private-placement-to-8-point-33-million

ValOre Announces Upsize of Non-Brokered Private Placement to $8.33 Million

Not for distribution to United States newswire services or for dissemination in the United States.

Vancouver, British Columbia, February 16, 2021 - ValOre Metals Corporation. ("ValOre") (TSX-V: VO) today announced the intent to increase the size of the previously announced non-brokered private placement on January 29, 2021 from C$3,600,000 to C$8,330,000. The Company will issue up to 27,766,666 units for total gross proceeds of up to C$8,330,000 ("Private Placement").

Each unit will be issued at a price of C$0.30 and will consist of one common share of ValOre and one half of one common share purchase warrant (each, a "Unit"). Each whole warrant will be exercisable to acquire one common share of ValOre at an exercise price of C$0.45 for 24 months from the date of the closing of the Private Placement.

The closing of the Private Placement is subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. All securities issued pursuant to the Private Placement will be subject to a four-month hold period in accordance with applicable Canadian securities laws. There is no material fact or material change regarding ValOre that has not been generally disclosed.

ValOre has agreed to pay a finder's fee by way of cash to 6% and 6% in warrants based on the aggregate Units subscribed for pursuant to the subscriptions arranged by such finders.

About ValOre

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.

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 604.653.9464, or by email at contact@valoremetals.com.

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

Cautionary Statement Regarding Forward-Looking Information

This news release contains "forward-looking statements" within the meaning of applicable securities laws. Although ValOre believes that the expectations reflected in its forward-looking statements are reasonable, such statements have been based on factors and assumptions concerning future events that may prove to be inaccurate. These factors and assumptions are based upon currently available information to ValOre. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. A number of important factors including those set forth in other public filings could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the future operations of ValOre and economic factors. Readers are cautioned to not place undue reliance on forward-looking statements. The statements in this press release are made as of the date of this release and, except as required by applicable law, ValOre does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. ValOre undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of ValOre, or its financial or operating results or (as applicable), their securities.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

ValOre Metals Corp.

Suite 1020

800 West Pender St

Vancouver, BC | V6C 2V6

contact@valoremetals.com

valoremetals.com

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

ENDS

For further information please visit www.jangadamines.com or contact: