Montreal, Quebec, February 4, 2021 – VIOR INC. (“Vior” or the “Corporation”) (TSX-V: VIO, FRANKFURT: VL51) is pleased to announce the signing of an option agreement for the acquisition of 100% of the mining titles of the former high-grade Belleterre gold mine, as well as the significant addition of an exploration land package extending over a strike length of 37 kilometers in the Belleterre area, located 95 kilometers south of Rouyn-Noranda, Quebec.

The Corporation has acquired a 100% interest in 340 new claims in addition to signing an option agreement for the acquisition of 9 claims and 2 mining concessions hosting the former Belleterre mine, which produced more than 750,000 oz. @ 10.73 g/t gold and 95,000 oz @ 1.37 g/t silver, between 1936 and 1959 (source: Sigeom MERN). This new land package is in addition to the strategic project acquisition announced by the Corporation on January 28, 2021, now bringing a total of 394 high-potential gold claims in the Belleterre volcanic band, covering 21,888 hectares.

“The acquisition of the old high grade mine area along with the new land packages now ensures Vior a prominent place as a player in the volcano-sedimentary belt of Belleterre. The sector has been under-explored for the past 50 years and has never been the subject of any significant consolidation by previous holders. We now believe that our current land position will allow us to work with a more global and systematic vision thereby optimizing the potential for a new discovery. In addition, the presence of Osisko Mining Inc. in the sector should have the effect of boosting exploration activities at Belleterre”, stated Marc L’Heureux, Vice President of Exploration at Vior.

Historically at the Belleterre project and in its immediate vicinity, gold was predominantly the only commodity of economic value to be explored. It was usually associated with sulphides or occasionally in native form in quartz veins and fractures, or in a state of substitution. Most of the veins that have been mined or worked in the area are located within a 5 km radius of the old Belleterre mine. However, several gold showings and prospects have been found in the surrounding area, such as the Conway, Paquin, Audrey and Blondeau veins as well as the Aubelle deposit. The Belleterre Mine gold deposit is the only one to have been in active production. At closure in 1959, total production from the Belleterre mine was 2.18 million metric tonnes at an average grade of 10.73 g/t Au and 1.37 g/t Ag with approximately 95% of the ore mined coming from Vein No 12.

Vior’s exploration team is currently fine tuning their geological model (to be released in the coming weeks) that will be the basis for its exploration program for the Belleterre Project beginning in Spring 2021. The Corporation intends to carry out systematic prospecting and sampling surveys which will be supported by the development of a new metallogenic model and geophysical targets.

Claims agreements and acquisitions 

A block of 18 claims covering 1,021 hectares (identified in medium green in the figure above) was purchased by the Corporation from Sphinx Resources Ltd. for the sum of $10,000 and the issuance of 100,000 shares of the Corporation. A 1% Net Smelter Royalty (“NSR”) is granted to the seller and may be repurchased for $1M.

Vior also acquired from a syndicate of two independent prospectors a 100% interest in a group of 21 claims covering 1,222 hectares (partially identified in light blue in the figure above) in return for a payment of $10,000 and the issue of 90,000 Corporation shares. A 1% NSR royalty is granted to sellers and may be repurchased for $1M.

Vior bought from Exploration Sagidor inc. a group of 24 claims totaling 1,398 hectares (identified in light green in the figure above) in consideration for a payment of $20,000 and the issue of 250,000 shares of the Corporation. A 1% NSR royalty is granted to the seller and may be repurchased for $1M.

The Corporation acquired from another syndicate of two independent prospectors a 100% interest in a group of 29 claims covering 1,689 hectares (partially identified in light blue in the figure above) for a payment of $10,000 and the issue of 250,000 shares of the Corporation. A 1% NSR royalty is granted to sellers and may be repurchased for $1M.

Vior has acquired Globex Mining Enterprises Inc. a 100% interest in 6 claims covering 349 hectares (identified in dark green in the figure above) in consideration for the issuance of 150,000 shares of the Corporation. A 2% gross metal royalty (“GMR”) is granted to the seller, half of which may be repurchased for $1M.

The Corporation has signed a purchase option agreement with 9293-0122 Québec inc., which is the holder of 9 claims and 2 mining concessions, including the site of the former Belleterre Mine. The seller has submitted a request for the abandonment of the mining concessions to the Ministry of Energy and Natural Resources (in accordance with Article 122 of the Mining Law) for conversion of the concessions into mining claims. Vior can earn a 100% interest in the 11 mining titles by making the following cash payments and issuance of Corporation shares:

*Share issuance is at the discretion of the Corporation and shares can be issued at a price equal to the 10 day VWAP at the time of issuance.

All of the above share issuance transactions will be subject to approval by the TSX Venture Exchange at the time of the issuance.

In addition, the Corporation has also map-designated as part of the Belleterre project a total of 242 claims covering an area of 14,086 hectares, which it already holds a 100% interest in.