Mr. Ian Gendall reports

DLP RESOURCES ANNOUNCES CLOSING OF $6.4 MILLION BROKERED AND NON-BROKERED PRIVATE PLACEMENT

DLP Resources Inc. has closed its previously announced private placement offering, composed of a brokered offering for gross proceeds of $4,822,682 and a non-brokered offering for $1,601,000 in gross proceeds, for aggregate gross proceeds to the company of $6,423,682. The brokered offering was led by Paradigm Capital Inc., as the lead agent and sole book runner, on behalf of a syndicate of agents, including Canaccord Genuity Corp.

Pursuant to the offering, the company issued an aggregate of 16,059,205 units of the company at an issue price of 40 cents per unit, composed of 12,056,705 units issued under the brokered offering and 4,002,500 units issued under the non-brokered offering. Each unit is composed of one common share of the company and one common share purchase warrant. Each warrant shall entitle the holder thereof to purchase one common share at an exercise price of 54 cents per warrant share for a period of 36 months from the closing of the offering.

The gross proceeds of the offering will be used for exploration and development, and general working capital purposes.

In connection with the brokered offering, the agents received an aggregate cash fee of $287,680.46. In addition, the company granted the agents 719,201 non-transferable compensation warrants. Each compensation warrant will entitle the holder thereof to purchase one common share at the offering price for a period of 24 months following the closing of the offering. In addition, the company paid an aggregate cash fee of $112,070 and granted 280,175 finder's warrants to certain eligible finders in connection with the non-brokered offering. Each finder's warrant will entitle the holder thereof to purchase one common share at the offering price for a period of 24 months following the closing of the offering.

All securities issued pursuant to and in connection with the offering will have a hold period of four months and one day from the closing date of the offering.

Certain related parties of the company subscribed for an aggregate of 112,500 units in the brokered offering. The issuance of units to these related parties is considered to be a related-party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101. The company has relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 (and Policy 5.9), as the fair market value of the units issued to such person does not exceed 25 per cent of the company's market capitalization.

About DLP Resources Inc.

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

We seek Safe Harbor.