Mr. Ernest Mast reports

DORE COPPER ANNOUNCES UPDATE ON THE JOE MANN OPTION AGREEMENT

Dore Copper Mining Corp. entered into an agreement on Oct. 28, 2022, to amend the earn-in option agreement dated Jan. 2, 2020, between the company and Ressources Jessie Inc. pursuant to which the company has an option to acquire the Joe Mann property from Ressources Jessie, as previously announced on Jan. 2, 2020. The Joe Mann mine, located 60 kilometres south of Chibougamau, Que., produced 1.12 million ounces of gold at an average grade of 8.26 grams per tonne from the 1950s to 2007. The deposit has an inferred resource of 680,000 tonnes grading 6.78 g/t Au and 0.24 per cent copper, which was included in the company's preliminary economic assessment (PEA) of its hub-and-spoke operation announced on May 10, 2022.

Pursuant to the terms of the amending agreement, the company has agreed to accelerate the final scheduled cash and share payments under the option agreement. The company has made the final scheduled cash payment of $1.5-million to Ressources Jessie (thus fulfilling the scheduled cash payment obligations), and will issue 3,333,333 common shares in the capital of the company to Legault Metals Inc. at a deemed price of 30 cents per common share for an aggregate value of $1-million upon acceptance of the TSX Venture Exchange (thus fulfilling all scheduled share payment obligations). The deadline for the company to incur the remaining exploration expenditures on the property, totalling approximately $830,000, has also been extended to Feb. 28, 2023.

Following the fulfilment of the scheduled cash and share payment obligations, Ressources Jessie will commence the transfer of the property to the company. Upon exercise of the option, the company is required to grant to Ressources Jessie a 2-per-cent net smelter return (NSR) royalty on the mine production from the property. The company will be entitled to buy back 1-per-cent NSR in consideration for a payment to Ressources Jessie of $2-million and to buy back an additional 0.5-per-cent NSR in consideration for a payment to Ressources Jessie of $4-million.

Pursuant to the original terms of the option agreement, upon the commencement of commercial production at the property, Dore Copper will make an additional $1-million cash payment to Ressources Jessie and issue $1.5-million in common shares to Legault.

The company is currently drilling a hole on the eastern side of the Joe Mann mine, below the deepest mined level, to test the down-plunge extension of a historical underground hole that returned 9.33 g/t Au over 2.4 metres (U-9161_D). In early 2023, the company plans to test a geophysical anomaly located approximately 500 metres south of the mine.

Sylvain Lepine, MSc, PGeo, vice-president, exploration, of the company and a qualified person within the meaning of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.

About Dore Copper Mining Corp.

Dore Copper Mining aims to be the next copper producer in Quebec with an initial production target of over 50 million pounds of copper equivalent annually by implementing a hub-and-spoke operation model with multiple high-grade copper-gold assets feeding its centralized Copper Rand mill. The company delivered its PEA in May, 2022, and is proceeding with a feasibility study.

The company has consolidated a large land package in the prolific Lac Dore/Chibougamau and Joe Mann mining camps that has historically produced 1.6 billion pounds of copper and 4.4 million ounces of gold. The land package includes 13 former-producing mines, deposits and resource target areas within a 60-kilometre radius of the company's Copper Rand mill.

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