Mr. Ian Gendall reports

DLP RESOURCES INTERSECTS 221.4M OF 0.95% CUEQ* WITHIN A 693.4M INTERVAL OF 0.64% CUEQ* ON THE AURORA PROJECT IN SOUTHERN PERU

DLP Resources Inc. has received complete drill results for the fifth hole, A23-005, on the Aurora porphyry copper-molybdenum project in southern Peru.

Results for the first four drill holes, A22-001, A22-002, A22-003 and A23-004, were released on Dec. 5, 2022, Jan. 5, 2023, and May 2, 2023 (see DLP Resources' news releases).

Highlights

Drill hole A23-005 intersected significant molybdenum-copper mineralization throughout the hole to a depth of 693.4 metres, where it ended in very good molybdenum mineralization. The most significant mineralized intervals included:

• 0.64 per cent copper equivalent over 693.40 metres (0.11 per cent copper, 0.144 per cent molybdenum and 1.95 grams per tonne silver) from zero metre to 693.4 metres;
• 0.66 per cent copper equivalent over 58.00 metres (0.43per cent copper, 0.054 per cent molybdenum and 3.38 grams per tonne silver) from 130.00 metres to 188.00 metres;
• 0.95 per cent copper equivalent over 221.40 metres (0.03 per cent copper, 0.259 per cent molybdenum and 0.41 gram per tonne silver) from 472.00 metres to 693.40 metres.

The complete set of results for A23-005 are summarized in the attached table.

Results from drill hole A23-005, which was drilled approximately 317 metres west-southwest of A22-003, continue to confirm Aurora is a robust porphyry copper-molybdenum system with mineralization extending from 2,628-metre elevation at surface to an elevation of approximately 2,000 metres downhole. Once again, this drill hole ended in very good molybdenum mineralization.

Ian Gendall, president and chief executive officer, commented: "We've had another very encouraging copper-molybdenum intersection in drill hole A23-005. We have now stepped out 317 metres from A22-003, which was drilled on the eastern edge of the porphyry and we continue to expand the mineralized footprint to the west and at depth. Drilling is ongoing to the west of A23-005, and we have completed another two holes, A23-006 and A23-007. Assay results are awaited for both holes."

Aurora copper-molybdenum project -- summary of drill results for A23-005

A23-005

Hole A23-005, like A23-004, was drilled in an area of well exposed quartz-molybdenite veining at an angle of minus-70 degrees toward an azimuth of 140 degrees. The logged geology is summarized as follows:

• Leached quartz-eye feldspar porphyry (QEFP) from zero metre to 20 metres;
• Partially leached QEFP from 20 metres to 130 metres;
• Mixed limonitic zone of chalcopyrite and pyrite with secondary enrichment of covellite and chalcocite on fractures within the QEFP from 130 metres to 188 metres with quartz-sericite alteration;
• Primary mineralization of chalcopyrite, molybdenite and pyrite within an intermineral quartz-feldspar porphyry from 188 metres to 302 metres with quartz-sericite alteration;
• Molybdenite in quartz veins (B-type) and weakly disseminated chalcopyrite mineralization occur within a quartz-sericite altered quartz-feldspar porphyry and quartz-eye-feldspar-biotite porphyry from 302 metres to 472 metres;
• Potassic altered quartz-feldspar porphyry and quartz-eye-feldspar-biotite porphyry with disseminated pyrite and weak chalcopyrite mineralization and well-developed molybdenite quartz veinlets (B-type) occur from 472 metres to 693.4 metres; strong potassic alteration is logged in this interval.

Quality assurance and quality control

DLP Resources Peru SAC, a subsidiary of DLP Resources, supervises drilling and carries out sampling of HTW and NTW core. Logging and sampling are completed at a secured company facility situated on the project site. Sample intervals are nominally 1.5 metres to two metres in length. Drill core is cut in half using a rotary diamond blade saw and samples are sealed on site before transportation to the ALS Peru SAC sample preparation facility in Arequipa by company vehicles and staff. Prepared samples are sent to Lima by ALS Peru for analysis. ALS Peru is an independent laboratory. Samples are analyzed for 48 elements using a four-acid digestion and ICP-MS analysis (ME-MS61). In addition, sequential copper analyses are done and report soluble copper using sulphuric acid leach, soluble copper in cyanide leach, residual copper and total copper. ALS meets all requirements of international standards ISO/IEC 17025:2005 and ISO 9001:2015 for analytical procedures.

DLP Resources independently monitors QA/QC through a program that includes the insertion of blind certified reference materials (standards), blanks and pulp duplicate samples. The company is not aware of any drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the data reported from zero metre to 693.40 metres in A23-005.

Aurora project

The Aurora project as an advanced-stage porphyry copper-molybdenum exploration project in the province of Calca, southeast Peru. The Aurora project was previously permitted for drilling in 2015 but was never executed. Thirteen historical drill holes, drilled in 2001 and 2005, totalling 3,900 metres were drilled over an area of approximately 1,000 metres by 800 metres, cut significant intervals of copper and molybdenum mineralization. From logging of the only three remaining holes, DDA-01, DDA-3A and DDA-3, and data now available, it appears that only three of the 13 holes tested the enriched copper zone and only one hole drilled deep enough to test the primary copper and molybdenum zone (see DLP Resources' news release of May 18, 2021).

Salient historic drill hole data of the Aurora project are:

• 190 metres of 0.57 per cent copper and 0.008 per cent molybdenum in DDA-1 with a high-grade intercept of 20 metres of 1.01 per cent copper related to a supergene enrichment zone of secondary chalcocite;
• 142 metres of 0.5 per cent copper and 0.004 per cent molybdenum in DDA-3;
• 71.7 metres of 0.7 per cent copper and 0.007 per cent molybdenum in DDA-3A (see historical Focus Ventures Ltd. news release dated July 11, 2012);
• One of the historical holes ABC-6 drilled on the edge of the system intersected 78 metres of 0.45 per cent copper and 0.107 per cent molybdenum.

A review of the historical drilling indicates that the majority of the 13 holes were drilled in the leached and partially leached zones of the porphyry system. Ten of the 13 holes never fully tested the oxide and secondary enrichment zone and/or the primary copper zone at depth encountered in DDA-01. Copper-molybdenum mineralization is hosted by quartz-feldspar porphyries intruded into slates-hornfels and pelitic sandstones belonging to the Ordovician (439 million years old to 463 million years old) Sandia formation.

Qualified person

David L. Pighin, consulting geologist and co-founder of DLP Resources, is the qualified person of the company as defined by National Instrument 43-101. Mr. Pighin has reviewed and approved the technical contents of this news release.

About DLP Resources Inc.

DLP Resources is a mineral exploration company operating in southeastern British Columbia and Peru, exploring for base metals and cobalt. DLP is listed on the TSX Venture Exchange under the trading symbol DLP and on the OTCQB under the trading symbol DLPRF.

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