Mr. Ian Gendall reports

DLP RESOURCES INTERSECTS 301.65M OF 0.56 % CUEQ* WITHIN A 700.55M INTERVAL OF 0.40% CUEQ* ON THE AURORA PROJECT IN SOUTHERN PERU

DLP Resources Inc. has received complete drill results for drill holes A23-007 and A23-008 on the Aurora porphyry copper-molybdenum project in southern Peru.

Results for the first six drill holes, A22-001, A22-002, A22-003, A23-004, A23-005 and A23-006, were released on Dec. 5, 2022, Jan. 5, 2023, May 2, 2023, June 1, 2023, and June 12, 2023 (see DLP Resources news releases and attached tables).

Highlights

Drill hole A23-008 was drilled approximately 300 m southeast of drill hole A23-007. A23-007 intersected significant molybdenum-copper mineralization throughout the hole to a depth of 703.65 m where it ended in very good molybdenum mineralization. The most significant mineralized intervals included:

• 0.40 per cent copper equivalent* over 700.55 m (0.10 per cent Cu, 0.0852 per cent molybdenum and 1.18 per cent silver) from 3.1 m to 703.65 m;
• 0.56 per cent CuEq* over 301.65 m (0.03 per cent Cu, 0.1548 per cent Mo and 0.26 grams per tonne Ag) from 402 m to 703.65 m.

The complete set of results for A23-008 is summarized in the attached table.

Drill hole A23-007 was drilled approximately 237 m west of drill hole A23-006 on the contact of the hornfels with the intrusive porphyry. A23-007 intersected significant molybdenum-copper mineralization throughout the hole to a depth of 708.25 m. This drill hole also ended in very good molybdenum mineralization and the most significant intervals included:

• 0.33 per cent CuEq* over 708.25 m (0.25 per cent Cu, 0.0137 per cent Mo and 3.07 g/t Ag) from zero m to 708.25 m;
• 0.61 per cent CuEq* over 48.00 m (0.57 per cent Cu, 0.0020 per cent Mo and 5.33 g/t Ag) from 206 m to 254 m.

The complete set of results for A23-007 is summarized in the attached table.

Results from drill hole A23-007 confirm extensive copper-molybdenum mineralization across approximately 685 m of the northwestern extent of the Aurora project.

Ian Gendall, president and chief executive officer, commented: "A23-007 was drilled on a stepout of 237 m from A23-006 to define the western boundary of the porphyry Cu-Mo mineralization. This hole has now confirmed we have an east-west molybdenum-copper-silver mineralized zone of at least 685 m. The eastern limit is still open. We continue to intersect very encouraging copper-molybdenum mineralization at Aurora and the downdip extension is open, as are the northern, southern and eastern extents. Drilling of A23-009 is now ongoing on a large stepout of approximately 868 m to the southeast of A23-007 and we have, as expected, cut a mineralized porphyry, in A23-009 at 12.90 m. Assay results for A23-009 which ended at 790.55 m are awaited and we are very encouraged with early mineralized porphyry intersections observed in A23-009."

Aurora Cu-Mo project -- summary of drill results for A23-007 and A23-008

A23-007

Hole A23-007 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 99.00 m: partially leached hornfels with minor amounts of chalcopyrite, pyrrhotite, pyrite and trace molybdenite;
• 99.00 m to 206.00 m: leached zone with trace chalcopyrite, molybdenite, and minor amounts of pyrrhotite and pyrite;
• 206.00 m to 406.00 m: hornfels with a mixed zone of pyrrhotite, chalcopyrite, pyrite and trace molybdenite;
• 406.00 m to 639.50 m: late intermineral quartz-eye-feldspar-biotite porphyry with moderate quartz-sericite and intermediate argillic alteration overprint. Mineralization includes chalcopyrite and trace molybdenite;
• 639.50 to 708.25 m: hornfels with chalcopyrite, molybdenite, pyrrhotite and pyrite.

A23-008

Hole A23-008 was drilled at an angle of minus 70 degrees toward an azimuth of 120 degrees. The logged geology is summarized as follows:

• Zero m to 3.10 m: no core recovered;
• 3.10 m to 188.55 m: slates and hornfels with chalcopyrite, molybdenite and moderate amounts of pyrrhotite and pyrite;
• 188.55 m to 404.00 m: intermineral quartz-eye-feldspar-biotite porphyry with moderate quartz-sericite alteration and weak intermediate argillic overprint. Mineralization includes moderate amounts of molybdenite and chalcopyrite;
• 404.00 m to 703.65 m: intermineral quartz-eye-feldspar-biotite porphyry with moderate quartz-sericite, weak potassic and intermediate argillic alteration overprint plus fluorite in veins. Mineralization includes high amounts of molybdenite and moderate chalcopyrite.

Quality control and quality assurance

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 SAC for analysis. ALS Peru SAC is an independent laboratory. Samples are analyzed for 48 elements using a four-acid digestion and inductively coupled plasma-mass spectrometry 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 International Organization for Standardization/International Electrotechnical Commission 17025:2005 and ISO 9001:2015 for analytical procedures.

DLP Resources independently monitors quality control and quality assurance (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 m to 708.25 m in A23-007 and 3.1 m to 703.65 m in A23-008.

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, 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 annum) 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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