Mr. Ian Gendall reports

DLP RESOURCES INTERSECTS 208.55M OF 1.01% CUEQ* WITHIN A 617.55M INTERVAL OF 0.72% CUEQ* ON THE AURORA PROJECT IN SOUTHERN PERU

DLP Resources Inc. has received complete drill results for the sixth hole, A23-006, on the Aurora porphyry copper-molybdenum project in southern Peru.

Results for the first five drill holes, A22-001, A22-002, A22-003, A23-004 and A23-005, were released on Dec. 5, 2022, Jan. 5, 2023, May 2, 2023, and June 1, 2023 (see DLP Resources news releases).

Highlights

Drill hole A23-006 intersected significant molybdenum-copper mineralization throughout the hole to a depth of 708.55 metres where it ended in very good molybdenum mineralization. The most significant mineralized intervals included:

• 0.72 per cent copper equivalent* (CuEq) over 617.55 m (0.17 per cent Cu, 0.148 per cent Mo and 1.82 grams per tonne silver) from 91 m to 708.55 m;
• 0.82 per cent CuEq* over 36 m (0.62 per cent Cu, 0.031 per cent Mo and 9.10 g/t Ag) from 91 m to 127 m;
• 0.80 per cent CuEq* over 387.55 m (0.07 per cent Cu, 0.205 per cent Mo and 0.74 g/t Ag) from 321 m to 708.55 m;
• 1.01 per cent CuEq* over 208.55 m (0.08 per cent Cu, 0.260 per cent Mo and 0.86 g/t Ag) from 500 m to 708.55 m.

Results from drill hole A23-006, which was drilled approximately 448 m west-southwest of A22-003, confirm extensive copper-molybdenum mineralization across the northwestern extent of the Aurora project. Once again, the hole ended in very good molybdenum mineralization.

Ian Gendall, president and chief executive officer, commented: "We continue to intersect very encouraging copper-molybdenum mineralization at Aurora and the down-dip extension is open in all directions. Drilling is ongoing to the south of A23-006 and we are currently drilling A23-008. Assay results are awaited for A23-007."

Aurora Cu-Mo project -- summary of drill results for A23-006

A23-006

Hole A23-006 was drilled at an angle of minus 70 degrees toward an azimuth of 140 degrees. The logged geology is summarized as follows:

• Zero m to 14.70 m: No core recovery -- overburden;
• 14.70 m to 91 m: Partially leached zone of quartz-eye feldspar porphyry with limonite and trace chalcopyrite, molybdenite and covellite;
• 91 m to 127 m: Early quartz-eye feldspar porphyry with sericite and argillic alteration. Mineralization is a mixed zone of chalcocite, covellite, chalcopyrite and molybdenite;
• 127 m to 321 m: Early and intermineral quartz eye porphyry with moderate quartz-sericite and argillic alteration and good molybdenite and chalcopyrite mineralization;
• 321 m to 500 m: Early quartz-eye feldspar porphyry with moderate quartz-sericite alteration, trace biotite alteration with fluorite. Very good disseminated and veined molybdenum mineralization with chalcopyrite mineralization;
• 500 m to 708.55 m: Quartz-feldspar porphyry and quartz-eye feldspar-biotite porphyry with moderate to strong potassic alteration and very good molybdenum mineralization with low percentage of chalcopyrite mineralization. Extensive molybdenite quartz veinlets (B-type) occur within in this interval.

Quality assurance/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 to two m 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 inductively coupled plasma mass specrometry 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 quality assurance and quality control 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 m to 708.55 m in A23-006.

Aurora project

The Aurora project is an advanced-stage porphyry copper-molybdenum exploration project in the province of Calca, southeastern 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 m, were drilled over an area of approximately 1,000 m by 800 m and 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 m at 0.57 per cent Cu, 0.008 per cent Mo in DDA-1 with a high-grade intercept of 20 m at 1.01 per cent Cu related to a supergene enrichment zone of secondary chalcocite;
• 142 m at 0.5 per cent Cu, 0.004 per cent Mo in DDA-3;
• 71.7 m at 0.7 per cent Cu, 0.007 per cent Mo in DDA-3A (see historical Focus Ventures Ltd. news release July 11, 2012);
• One of the historical holes ABC-6 drilled on the edge of the system intersected 78 m at 0.45 per cent Cu and 0.107 per cent Mo.

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 to 463 million years) 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, trading symbol DLP, and on the OTCQB, trading symbol DLPRF.

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