Mr. Ian Gendall reports

DLP RESOURCES INTERSECTS 138M OF 0.68 % CUEQ* WITHIN AN 881.95M INTERVAL OF 0.46% CUEQ* ON THE AURORA PROJECT IN SOUTHERN PERU AND DISCOVERS NEW COPPER OXIDE ZONE TO THE EAST OF THE CURRENT DRILLING

DLP Resources Inc. has received complete drill results for drill hole A23-012 on the Aurora porphyry copper-molybdenum project in southern Peru.

Results for the first 11 drill holes, A22-001, A22-002, A22-003, A23-004, A23-005, A23-006, A23-007, A23-008, A23-009, A23-010 and A23-011, were last released on Oct. 11, 2023 (see DLP Resources news release of Oct. 11, 2023, for results for A23-001 to A23-011).

Highlights

Drill hole A23-012 was drilled approximately 130 metres east of drill hole A23-011 and intersected significant copper and molybdenum mineralization throughout the hole to a depth of 887.60 m. A23-012 ended in molybdenum mineralization and the most significant mineralized intervals included:

• 0.46 per cent copper equivalent* over 881.95 m (0.18 per cent copper, 0.0514 per cent molybdenum and 1.68 grams per tonne silver) from 5.65 m to 887.60 m;
• 0.80 per cent CuEq* over 16.35 m (0.49 per cent Cu, 0.0499 per cent Mo and 6.53 g/t Ag) from 5.65 m to 22 m;
• 0.50 per cent CuEq* over 186.35 m (0.15 per cent Cu, 0.0643 per cent Mo and 1.74 g/t Ag) from 5.65 m to 192 m;
• 0.68 per cent CuEq* over 138 m (0.45 per cent Cu, 0.0390 per cent Mo and 3.08 g/t Ag) from 406 m to 544 m;
• 0.62 per cent CuEq* over 195 m (0.06 per cent Cu, 0.1083 per cent Mo and 0.37 g/t Ag) from 692 m to 887.60 m;
• 0.72 per cent CuEq* over 116 m (0.07 per cent Cu, 0.1253 per cent Mo and 0.43 g/t Ag) from 692 m to 808 m.

Ian Gendall, president and chief executive officer, commented: "A23-012 was drilled on a stepout of 130 m to the east of A23-011. We continue to encounter copper-molybdenum mineralization on the southeast side of the project. Mineralization is still open to depth and to the east and southeast. Drilling is ongoing and drill hole A23-013 is being drilled higher on the ridge to 1,000 m depth and is planned to intersect the zone of enriched copper mineralization in the upper elevations. We look forward to receiving results for A23-013 in later December. In addition, we are encouraged with the discovery of copper oxides approximately 500 m east of the current drilling and will be completing a geochemical sampling program over this area in November and early December."

Aurora Cu-Mo project -- summary of drill results for A23-012:

• Drill hole A23-012 commenced on Sept. 19 and was completed on Oct. 17 at a depth of 887.60 m. Co-ordinates are 8,565,427 m north and 190,100 m east at an elevation of 2,728 m. A23-012 was drilled at minus 70 degrees toward 020 degrees (northeast).
  • This hole was drilled approximately 130 m east of A23-011:
    • Zero to 5.65 m: Overburden;
    • 5.56 m to 22 m: Breccia with moderate chalcopyrite and minor chalcocite in matrix;
    • 22 m to 195.92 m: Hornfels with moderate chalcopyrite-pyrite mineralization and moderate molybdenite;
    • 195.92 m to 279.80 m: Quartz-eye-feldspar-biotite porphyry (QEFBP -- intermineral phase) with potassic alteration and overprint of weak chlorite and intermediate argillic alteration and pyrrhotite. Moderate veining with chalcopyrite disseminated and in microfractures with moderate molybdenite. Faulted contact;
    • 279.80 m to 326.80 m: QEFBP with predominantly intermediate argillic alteration on secondary biotite and weak chlorite alteration. Weak quartz veining and minor chalcopyrite and molybdenite mineralization. Faulted contact;
    • 326.80 m to 631 m: QEFBP (intermineral phase) with moderate intermediate argillic alteration on quartz-sericite alteration. Weak chalcopyrite mineralization and moderate molybdenite;
    • 631 m to 700 m: QEFBP with moderate quartz-sericite alteration on K-feldspar alteration and moderate quartz veining. Weak chalcopyrite and molybdenite mineralization;
    • 700 m to 815 m: QEFBP (early porphyry phase) with abundant quartz veining and moderate to strong molybdenite and minor chalcopyrite. Moderate quartz-sericite plus green sericite alteration with magnetite;
    • 815 m to 875.85 m: QEFBP (intermineral phase) with weak quartz veining and moderate chlorite overprint on potassic alteration (secondary biotite). Strong molybdenite mineralization;
    • 875.85 m to 887.60 m: FBP (feldspar-biotite porphyry -- intermineral phase) with weak quartz veining and weak chalcopyrite and strong molybdenite mineralization.

Quality assurance and 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 2.7 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 spectrometry analysis (ME-MS61). In addition, sequential copper analyses are done where secondary copper mineralization is observed and reports 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 (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 5.65 m to 887.60 m in A23-012.

New breccia zone and copper oxide showings -- east of current drilling

During the past two months, while preparing an access road to the northeast and southeast side of the project for further drilling, a zone of approximately 500 m by 500 m was discovered with breccias in the hornfels and copper-oxides on road-cut surfaces. This is extremely encouraging for the extension of copper-molybdenum mineralization for at least another 500 m farther to the southeast and northeast of the current planned drilling. This area also overlies a similar magnetic anomaly that underlies the main porphyry area.

Currently a rock sample program is under way to define additional copper-molybdenum targets for drilling. Sample results are expected later in December.

Metallurgical study under way

Plenge laboratory in Lima, Peru, has been contracted to do a metallurgical study on three composite samples from the Aurora project. Results from this study are expected in February/March, 2024.

Aurora project

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.

We seek Safe Harbor.