Mr. Ernest Mast reports

DORE COPPER ANNOUNCES CLOSING OF RIGHTS OFFERING

On Dec. 29, 2023, Dore Copper Mining Corp. closed its previously announced rights offering to the holders of common shares in the capital of the corporation at the close of business (Toronto time) on Nov. 28, 2023. The rights offering expired at 5 p.m. (Toronto time) on Dec. 22, 2023. The corporation issued 33 million common shares at a subscription price of 12 cents per common share for aggregate gross proceeds of $3.96-million. The net proceeds of the rights offering will be used for exploration and development activities and for working capital and general corporate purposes.

The corporation issued a total of 11,463,135 common shares under the basic subscription privilege and 3,440,126 common shares under the additional subscription privilege. Ocean Partners U.K. Ltd., together with its affiliate, Ocean Partners USA Inc., acquired a total of 6,472,931 common shares under its basic subscription privilege and nil common shares under its additional subscription privilege. Funds managed by Equinox Partners Investment Management LLC (together with Ocean Partners, the standby purchasers) acquired a total of 3,202,719 common shares under its basic subscription privilege and 3,331,018 common shares under its additional subscription privilege in lieu of common shares available to a certain fund managed by Equinox under its basic subscription privilege. The standby purchasers collectively subscribed for an additional 18,096,739 common shares pursuant to their standby commitment agreements, with each standby purchaser acquiring 50 per cent of such common shares.

To the knowledge of the corporation, after reasonable inquiry, no person that was not an insider of Dore Copper before the distribution under the rights offering became an insider as a result of the distribution under the rights offering. To the knowledge of the corporation, after reasonable inquiry, directors, officers and other insiders of the corporation before the distribution under the rights offering, which includes the standby purchasers, as a group, acquired 10,110,832 common shares under the basic subscription privilege and 3,331,018 common shares under the additional subscription privilege for an aggregate of 13,441,850 common shares acquired under the rights offering, representing total subscription proceeds of $1,613,022.

Other persons, as a group, acquired 1,352,303 common shares under the basic subscription privilege and 109,108 common shares under the additional subscription privilege for an aggregate of 1,461,411 common shares acquired under the rights offering, representing total subscription proceeds of $175,369.32.

As of the closing date of the rights offering, there are 130,874,099 common shares issued and outstanding.

No fees or commissions were paid in connection with the solicitation of the exercise of rights under the rights offering.

The participation in the rights offering by certain related parties of the corporation, namely, directors, senior officers, and persons that have beneficial ownership of, or control or direction over, directly or indirectly, more than 10 per cent of the issued and outstanding common shares, constitutes a related party transaction under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The rights offering is not subject to the related party transaction rules under MI 61-101 based on a prescribed exception related to rights offerings.

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 preliminary economic assessment 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 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 corporation's Copper Rand mill.

We seek Safe Harbor.