Mr. Ian Gendall reports

DLP RESOURCES INTERSECTS 459.55M OF 1.01% CUEQ WITHIN A 1002.55M INTERVAL OF 0.66% CUEQ ON THE AURORA PROJECT IN SOUTHERN PERU

DLP Resources Inc. has received complete drill results for drill hole A23-010 on the Aurora porphyry copper-molybdenum project in southern Peru.

Results for the first nine drill holes, A22-001, A22-002, A22-003, A23-004, A23-005, A23-006, A23-007, A23-008 and A23-009, were released on July 24, 2023, and Aug. 10, 2023 (see DLP Resources' news releases dated July 24 and Aug. 10).

Highlights

Drill hole A23-010 was drilled approximately 55 metres east of drill hole A23-009 and intersected significant copper and molybdenum mineralization throughout the hole to a depth of 1,002.55 m. A23-010 ended in molybdenum mineralization, and the most significant mineralized intervals included:

• 0.66 per cent copper equivalent over 1,002.55 m (0.20 per cent copper, 0.0838 per cent molybdenum and 2.19 grams per tonne silver) from surface to 1,002.55 m;
• 0.94 per cent CuEq over 28 m (0.86 per cent Cu, 0.0015 per cent Mo and 8.41 g/t Ag) from 190 m to 218 m;
• 0.72 per cent CuEq over 82 m (0.37 per cent Cu, 0.0618 per cent Mo and 3.51 g/t Ag) from 543 m to 625 m;
• 1.01 per cent CuEq over 459.55 m (0.09 per cent Cu, 0.1754 per cent Mo and 0.90 g/t Ag) from 543 m to 1,002.55 m.

The complete set of results for A23-010 are summarized in an attached table.

Ian Gendall, president and chief executive officer, commented: "A23-010 is the second hole drilled by DLP on the southeastern side of the Aurora project and is our best mineralized intersection to date. This hole now confirms extension of the molybdenum-copper mineralization over approximately 800 m from northwest to southeast, and the mineralization is still open in all directions and at depth. Drilling is ongoing on this southeast side and A23-011, drilled on a stepout of approximately 290 m southwest of A23-010, is currently in progress to a depth of 1,000 m."

Aurora Cu-Mo project -- summary of drill results for A23-010

Drill hole A23-010 commenced on July 16, 2023, and was completed on Aug. 13, 2023, at a depth of 1,002.55 m:

• Surface to 41.25 m -- hornfels with minor chalcopyrite and quartz veinlets with molybdenite with trace chalcocite on chalcopyrite.
• 41.25 m to 190 m -- quartz-eye-feldspar-biotite porphyry (QEFBP) with strong quartz-sericite alteration, minor amounts of disseminated chalcopyrite with trace chalcocite and covellite, moderate amounts of pyrite and trace molybdenite. Partial leached zone.
• 190 m to 218 m -- QEFBP with moderate quartz-sericite alteration with moderate chalcopyrite-pyrite mineralization with coatings of chalcocite and covellite. Trace molybdenite.
• 218 m to 245 m -- QEFBP with large feldspar megacrysts up to three centimetres in length with moderate sericite alteration and strong silicification. Minor chalcopyrite-pyrrhotite mineralization with weak chalcocite-covellite coatings. Weak molybdenite mineralization.
• 245 m to 510 m -- QEFBP with moderate-to-strong quartz-sericite alteration and weak intermediate argillic overprint. Mineralization includes moderate disseminated pyrite, minor pyrrhotite and chalcopyrite with minor molybdenite both disseminated and in quartz veinlets.
• 510 m to 623.40 m -- intrusive breccia with subangular hornfels clasts and QEFBP matrix infill plus larger intervals of hornfels from 573.5 m to 603 m. Strong silicification with moderate sericite alteration is observed in this interval. Minor-to-moderate amounts of disseminated pyrite and chalcopyrite with increasing amounts of quartz veinlets with molybdenite is logged toward the lower 30 m of this interval.
• 623.40 m to 791.60 m -- QEFBP with strong quartz-sericite alteration overprinted on secondary biotite alteration with weak intermediate argillic alteration and abundant quartz veinlets with molybdenite. Pyrite predominates with minor chalcopyrite mineralization. Minor amounts of fluorite in veins are observed in this interval.
• 791.60 m to 1,002.55 m -- QEFBP with moderate quartz-sericite alteration overprinted on secondary biotite and potassium feldspar (potassic) alteration and with weak intermediate argillic alteration overprint. Potassium feldspar alteration increases from 940 m to end of hole at 1,002.55 m. Abundant quartz veinlets with molybdenite are logged throughout this interval with moderate pyrite, minor magnetite and chalcopyrite mineralization. Minor-to-moderate amounts of fluorite in veins are observed in this interval. The hole ended in very good molybdenite mineralization.

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 1,002.55 m in A23-010.

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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