Mr. Ernest Mast reports

DORE COPPER REPORTS REMAINING RESULTS FROM ITS 2022 INFILL DRILLING PROGRAM AT FLAGSHIP CORNER BAY PROJECT

Dore Copper Mining Corp. has released the final results from its 2022 drilling program on its flagship Corner Bay property, located in the Chibougamau mining camp, approximately 40 kilometres by road from Chibougamau, Que. In 2022, Dore Copper has completed 44 holes totalling 38,405 metres and is releasing today the assay results from the last 12 holes.

This drilling program is part of the feasibility study work to upgrade the inferred mineral resource to the indicated category. Another infill drilling program of approximately 2,000 metres is planned at Devlin for the first quarter of 2023.

Drilling highlights

Main vein below dike:

• CB-22-86: 5.1 metres of 5.68 per cent copper, 0.32 gram per tonne gold, 18.3 g/t silver and 510 parts per million molybdenum;
• CB-22-83: 2.6 metres of 3.69 per cent Cu, 10.3 g/t Ag and 414 ppm Mo.

Main vein above dike:

• CB-22-96: 3.3 metres of 2.53 per cent Cu, 0.40 g/t Au, and 2.1 metres of 4.73 per cent Cu, 0.23 g/t Au, 45.5 g/t Ag and 401 ppm Mo.

Ernest Mast, president and chief executive officer of Dore Copper, commented: "We have completed nearly 40,000 metres of drilling at Corner Bay in 2022, mostly infill drilling required for the feasibility study. Over all, the results confirm the continuity of the copper mineralization in the deposit. We have also identified a number of holes from 2004 with high-grade copper mineralization in the upper portion of the deposit that were not incorporated in the mineral resource. It is our intention to continue the Corner Bay infill drilling program in 2023 following the exploration drilling at the Dore Ramp and Joe Mann as detailed in the Sept. 12, 2022, news release. Subject to improved market conditions and additional funding, we now expect to complete the feasibility study in 2024."

Corner Bay drilling program

The drilling program which started in early 2022 is designed to infill the Corner Bay deposit at a 50-to-60-metre spacing from surface to a depth of 1,000 metres. From today's results, nine holes intersected the Main vein above the dike and the remaining three holes intersected the Main vein below the dike. The results are continuing to confirm the continuity of the copper mineralization for the Main vein above and below the dike.

The results today have defined the presence and continuity of a second vein located 50 metres east of the Main vein above the dike. This second vein has been intersected by six drill holes to date (CB-21-53, 58, 60, and CB-22-96, 97 and 98) and remains open up dip. Mineralization in this area appears to be parallel and controlled by mafic dikes, interpreted as originating from the Chibougamau pluton. Hole CB-21-53 intersected two metres of 3.34 per cent Cu, 0.56 g/t Au and 15.6 g/t Ag (Feb. 8, 2022, news release), hole CB-21-58 intersected 0.6 metre of 0.9 per cent Cu, and hole CB-21-60 intersected 1.6 metres of 1.27 per cent Cu.

Following a review of the required drilling for the feasibility study, the company has identified nine holes from 2004 that were excluded from the current mineral resource estimate. All holes intersected copper mineralization at a shallow depth in the two subparallel veins (Main veins) above the dike. Significant high-grade intercepts included:

• CB-04-13: 7.07 metres of 10.09 per cent Cu, 0.61 g/t Au;
• CB-04-15: 13 metres of 3.23 per cent Cu, 0.38 g/t Au;
• CB-04-17: 13.25 metres of 8.52 per cent Cu, 0.51 g/t Au.

Corner Bay deposit

In the preliminary economic assessment announced on May 10, 2022, the mineral resource estimate (MRE) for Corner Bay contains an indicated resource of 2.68 million tonnes at 2.66 per cent Cu and 0.26 g/t Au containing 157 million pounds of copper and 22,000 ounces of gold and an inferred resource of 5.86 Mt at 3.43 per cent Cu and 0.27 g/t Au containing 443 million pounds of copper and 51,000 ounces of gold, based on a cut-off grade of 1.3 per cent Cu and a copper price of $3.75 (U.S.) per pound (refer to technical report dated June 15, 2022). The Corner Bay deposit contains significant silver and molybdenum which have not been included in the prior MREs. The feasibility study will include the addition of silver and molybdenum as byproducts.

The Corner Bay deposit is hosted by the intrusive Lac Dore complex on the southern flank of the Chibougamau anticline. A regional north-northeastern diorite dike also cuts the area. Several significant shear zones oriented north-south and northwest-southeast have been identified in the area. The Corner Bay area is characterized by copper porphyry-style mineralization and by copper mineralization in shear zones commonly associated with dikes related to the Chibougamau pluton.

Drilling and quality control

The company is using Miikan Drilling as the drilling contractor. Miikan is a joint venture between Chibougamau Diamond Drilling Ltd., the first nations community of Ouje-Bougoumou and the first nations community of Mistissini, both located in the Eeyou Istchee territory.

Sample preparation and analysis within the mineralized zones are completed at Agat Laboratories in Mississauga, Ont. For Agat, samples are weighed, dried, crushed to 75 per cent passing two millimetres, split to 250 grams and pulverized to 85 per cent passing 75 microns. Samples are then fire assayed for Au (50 grams) and four-acid digest inductively coupled plasma optical emission spectroscopy finish for 43 elements. Outside the mineralized zones, sample preparation is completed at SGS Canada Inc. in Val d'Or, Que., and analysis (fire assay and ICP analysis) is completed at SGS Canada in Burnaby, B.C. Samples are weighed, dried, crushed to 75 per cent passing two mm, split to 250 grams and pulverized to 85 per cent passing 75 microns. Samples are then fire assayed for Au (50 grams) and sodium peroxide fusion inductively coupled plasma mass spectrometry finish for 34 elements.

Quality assurance/quality control is done in house by Dore Copper geologists with oversight from the vice-president, exploration. The check samples (blanks and standards -- 4 per cent of total samples with another 2 per cent of core duplicates) that were inserted into the sample batches are verified against their certified values and are deemed a pass if they are within three standard deviations of the certified value. The duplicates are evaluated against each other to determine mineralization distribution (nugget). If there are large discrepancies in the check samples, then the entire batch is requested to be reassayed.

Sylvain Lepine, MSc, PGeo, vice-president, exploration, of the corporation and a qualified person within the meaning of National Instrument 43-101, has reviewed and approved the 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 corporation delivered its PEA in May, 2022, and is proceeding with a feasibility study.

The corporation has consolidated a large land package in the prolific Lac Dore/Chibougamau and Joe Mann mining camps that have 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 corporation's Copper Rand mill.

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