Mr. Ian Gendall reports

DLP RESOURCES INTERSECTS 56M OF 0.59% CUEQ WITHIN A 790.15M INTERVAL OF 0.32% CUEQ ON THE AURORA PROJECT IN SOUTHERN PERU

DLP Resources Inc. has received complete drill results for drill hole A23-009 on the Aurora porphyry copper-molybdenum project in southern Peru.

Results for the first eight drill holes, A22-001, A22-002, A22-003, A23-004, A23-005, A23-006, A23-007 and A23-008, were released on July 24, 2023 (see DLP Resources' news release dated July 24, 2023, and refer to attached tables).

Highlights

Drill hole A23-009 was drilled approximately 868 m southeast of drill hole A23-007. A23-009 intersected significant copper mineralization throughout the hole to a depth of 709.55 m, where it ended in copper and molybdenum mineralization. The most significant mineralized intervals included:

• 0.32 per cent copper equivalent over 790.15 metres (0.27 per cent copper, 0.0095 per cent molybdenum and 2.39 grams per tonne silver) from 0.40 m to 790.15 m;
• 0.44 per cent CuEq over 314.00 m (0.37 per cent Cu, 0.0144 per cent Mo and 2.86 g/t Ag) from 303.00 m to 617.00 m;
• 0.59 per cent CuEq over 56.00 m (0.52 per cent Cu, 0.0144 per cent Mo and 3.46 g/t Ag) from 561.00 m to 617.00 m.

The complete results for A23-009 are summarized in an attached table.

Ian Gendall, president and chief executive officer, commented: "A23-009 was drilled on a stepout of 868 m to the southeast of A23-007. This is the first hole drilled by DLP on the southeast side of the Aurora project. We are extremely encouraged with the intersection of copper mineralization in A23-009 on this southeast side, and we will continue to drill on this side during the next six months. A23-010 is currently in progress to a depth of 1,000 m. The early mineralized porphyry intersections observed in A23-010 to a current depth of 800 m are very encouraging. Results are expected in late August."

Aurora Cu-Mo project -- summary of drill results for A23-009

Drill hole A23-009 commenced on June 28 and was completed on July 14 at 790.55 m. The drill hole was drilled on an azimuth of 340 degrees with a dip of minus-70 degrees.

Highlights:

• Surface to 0.4 m -- overburden.
• 0.4 m to 4.35 m -- hornfels.
• 4.35 m to 212 m -- intrusive breccia with QEFP (quartz-eye-feldspar porphyry) and QEFBP (quartz-eye-feldspar-biotite porphyry) with moderate chalcopyrite mineralization and weak molybdenite mineralization. Alteration is predominantly sericite with intermediate argillic overprint.
• 212 m to 350 m -- QEFP with moderate chalcopyrite mineralization and weak molybdenite mineralization. Alteration is predominantly moderate-to-strong quartz-sericite alteration with pyrrhotite.
• 350 m to 392 m -- intrusive breccia of QEFP with hornfels clasts. Fine sulphide stringers with chalcopyrite, pyrite and pyrrhotite occur throughout. Alteration is predominantly quartz-sericite.
• 392 m to 577.3 m -- QEFP with moderate chalcopyrite mineralization and associated pyrrhotite and trace molybdenite. Alteration is predominantly quartz-sericite.
• 577.3 m to 624 m -- intrusive polymictic breccia with QEFP and hornfels clasts. Moderate chalcopyrite mineralization with pyrite and trace Mo. Alteration is predominantly quartz-sericite.
• 624 m to 790.55 m -- silicified hornfels with microveinlets of sulphides consisting of pyrite and chalcopyrite with disseminated pyrrhotite. Fluorite veinlets are observed in this interval.

Quality assurance/quality control

DLP Resources Peru SAC, a subsidiary of the company, 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 m 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 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 quality assurance/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 surface to 790.55 m in A23-009.

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.

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