Mr. Ian Gendall reports

DLP RESOURCES ANNOUNCES PRIVATE PLACEMENT OF UNITS

DLP Resources Inc. has arranged a non-brokered private placement of up to six million units at a price of 50 cents per unit for gross proceeds of up to $3-million.

Each unit consists of one common share in the capital of the company and one common share purchase warrant of the company. Each warrant entitles the holder to purchase one common share in the capital of the company for a period of 24 months from the date of issue at an exercise price of 80 cents per warrant share, subject to an acceleration clause in the event the trading price of the shares equals or exceeds $1.10 for a period of 20 consecutive days.

The private placement will be made available to subscribers pursuant to the accredited investor and friends, family and business associate exemptions provided under sections 2.3(1) and 2.5 of National Instrument 45-106 Prospectus Exemptions.

The private placement will also be made available to existing shareholders of the company who, as of the close of business on Aug. 21, 2023, held shares (and who continue to hold such shares as of the closing date), pursuant to the existing shareholder exemption set out in B.C. Instrument 45-534 Exemption From Prospectus Requirement for Certain Trades to Existing Security Holders. The existing securityholder exemption limits a shareholder to a maximum investment of $15,000 in a 12-month period unless the shareholder has obtained advice regarding the suitability of the investment and, if the shareholder is resident in a jurisdiction of Canada, that advice has been obtained from a person that is registered as an investment dealer in the jurisdiction. If the company receives subscriptions from investors relying on the existing shareholder exemption exceeding the maximum amount of the private placement, the company intends to adjust the subscriptions received on a pro rata basis.

The company expects to pay finder's fees in connection with the private placement to certain eligible finders in the form of: (i) a cash commission of 7 per cent of the gross proceeds raised under the private placement from investors introduced to the company by the finder; and (ii) the issuance of such number of non-transferable common share purchase warrants of the company equal to 7 per cent of the units issued under the private placement from investors introduced to the company by the finder.

The company intends to use the proceeds from the private placement for financing the Peruvian projects and for general office and administration requirements. There may be circumstances, however, where, for sound business reasons, a reallocation of funds may be necessary.

Drilling at the Aurora copper-molybdenum project is continuing and drill hole 11 (A23-011), located 275 metres southwest of A23-010, is currently in progress to a planned depth of 1,000 metres. Assay results for A23-010, which was completed on Aug. 12, are expected to be released in mid- to late September.

The private placement is subject to all necessary regulatory approvals including acceptance from the TSX Venture Exchange. All securities issued in connection with the private placement will be subject to a four-month hold period from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.

About DLP Resources Inc.

DLP Resources is a mineral exploration company operating in Peru and southeastern British Columbia, exploring for copper, zinc and cobalt.

We seek Safe Harbor.