Mr. Andre Tessier reports

DELTA INTERSECTS 2.25 G/T AU OVER 27.8 METRES AND MULTIPLE NEW HIGH-GRADE GOLD ZONES AT DEPTH, AT DELTA-1 IN THUNDER BAY, ONTARIO

Delta Resources Ltd. has provided additional assay results from its second phase of drilling previously announced on June 6, 2023, at the Delta-1 gold project located 50 kilometres west of Thunder Bay, Ont.

Results of five additional drill holes are provided herein following the release of 28 drill holes on Sept. 12, 2023, and Oct. 5, 2023.

So far in 2023, Delta has completed 60 drill holes (D1-23-26 to D1-23-86) for a total of 19,620 metres. Assay results for 15 drill holes are still pending.

Highlights

Increased gold inventory at Delta-1:

• D1-23-69 intersected 2.25 grams per tonne Au over 27.8 metres;
  • Including a two-metre interval grading 16.16 g/t Au;
  • This intersection extends the Beta zone near surface for 50 metres west of drill holes D1-23-29 and D1-23-30, further extending a zone grading over two g/t Au at surface.
• D1-23-70 extended the mineralized envelope 100 metres west of drill hole D1-23-69;
  • With near-surface gold intercepts grading significantly above what is anticipated as cut-off grades of 0.3 g/t Au for a potential open-pit operation.
• D1-23-67 intersected 0.95 g/t Au over 20.2 metres;
  • Fills a gap in drilling between drill holes D1-23-38 and D1-23-40;
  • Shows the continuity of the gold mineralized zone to the east of the northeast-trending cross-fault responsible for the offset of the mineralized zone.
• Drill hole D1-23-68 intersected 0.54 g/t Au over 64.6 metres;
  • Located 100 metres below drill hole D1-23-40, east of the northeast-trending cross-fault.

New high-grade zones intercepted at depth:

• D1-23-67 intersected 24.4 g/t Au over 1.5 metres;
• D1-23-68 intersected three new zones returning 0.98 g/t Au over 27.3 metres, 12.5 g/t Au over one metre and 11.2 g/t Au over 1.5 metres.

Andre Tessier, president and chief executive officer, commented: "We continue to receive very encouraging drill results at Delta-1 and our level of excitement continues to grow. The new results are actively being integrated into our ongoing geological modelling and target review process. Once this review process has been completed, we look forward to continuing the drill program with the objective of growing the size of this very exciting gold project in this exceptional Canadian location surrounded by tremendous infrastructure."

The complete table of results from this release is shown herein.

Geological discussion

The Delta-1 project is located in the Shebandowan greenstone belt and covers a 19 km strike extent of the Shebandowan structural zone. Gold mineralization at Eureka occurs within a broad corridor of highly altered (ankerite-calcite-silicification and albitization) rocks exhibiting highly anomalous gold values of up to 0.2 g/t gold. Higher-grade mineralization within this corridor is associated with a stockwork of quartz-ankerite-pyrite-gold veinlets, with increased density of these veinlets generally proportional to increased gold grade. The gold mineralized zones have so far been intersected for a strike of approximately 1.8 kilometres, with a higher-grade segment extending for nearly 950 metres. So far, the down-dip length of the mineralized zone is approximately 250 metres (220 metres vertical depth). Mineralization strikes approximately 100 to 120 degrees azimuth, with a dip of 75 to 80 degrees north (shallower dips of 50N are observed in the western portion of the zone). Higher-grade, wide ore shoots are observed and appear to be plunging approximately 40 degrees toward the west, within this structural corridor. Similar ore shoots are often observed in structurally controlled gold deposits and often occur with a certain periodicity. The currently defined ore shoots are open at depth.

The next steps

Delta paused drilling in early October, 2023, to analyze and further interpret the very large amount of geological, structural and geochemical data accumulated since the beginning of this phase of drilling. Assay results for 15 drill holes are still pending. Delta is currently completing a 37-line-kilometre 3-D induced polarization survey to better characterize the known mineralized zone and explore the extensions of the gold-bearing structure. Delta also started probing selected drill holes using a down-hole televiewer instrument which is collecting valuable structural information on possible fault and vein orientations. This multidisciplinary approach will be used to help vector toward new mineralized zones within the gold-bearing structure. Delta will resume its drill campaign shortly after this work is completed.

Analytical protocol and quality assurance/quality control

Chemical analyses reported in this press release were performed at Agat Laboratories. Agat Laboratories is accredited to ISO 17025 by the Standards Council of Canada (SCC). Sample preparation was performed in Thunder Bay, Ont. Sampling and analytical procedures are subject to a comprehensive quality assurance and quality control program that includes duplicate samples, blanks and analytical standards.

The following assaying protocol was adopted at Delta-1 in an attempt to reduce the assay variability due to nugget effect caused by visible gold:

• If visible gold is observed in the sample or within the assumed mineralized zone, the assay is performed by metallic screening whereby the entire sample is crushed, and a one-kilogram portion is pulverized and screened to 106 micrometres and analyzed by 50-gram fire assay with gravimetric finish at the Agat Laboratory in Thunder Bay, Ont.
• If no visible gold is observed or outside of the mineralized zones, an initial assay is performed by 50-gram fire assay with inductively coupled plasma optical emission spectroscopy finish at the Agat Laboratory in Thunder Bay, Ont. If the assay result exceeds two g/t gold, remaining rejects are pulverized and a one-kilogram portion is screened to 106 micrometres and analyzed by 50-gram fire assay with gravimetric finish at the Agat Laboratory in Thunder Bay, Ont.

NQ-size drill core was sawed in half lengthwise and half of the core was sampled and sealed in clean plastic bags before being shipped for assay. The remaining half of the core was replaced in core boxes and is stored at Delta's core storage facilities. Standards and blanks are inserted in the sequence of samples on site as quality assurance and quality control in addition to the regular insertion of blank, duplicate and standard samples accredited by SGS Canada Minerals Laboratories during the analytical process.

Qualified person

Daniel Boudreau, PGeo and manager of exploration at Delta Resources, is the qualified person as defined by National Instrument 43-101. He has supervised the drilling program in the field and reviewed the technical information presented in this press release.

Ontario Junior Exploration Program

Delta Resources would like to acknowledge the financial support provided by the Ontario government via the Ontario Junior Exploration Program (OJEP). Delta will be receiving up to $200,000 upon completion of its exploration program at Delta-1.

About Delta Resources Ltd.

Delta Resources is a Canadian mineral exploration company focused on growing shareholder value through the exploration of two very high-potential gold and base metal projects in Canada.

• Delta-1 is Delta's flagship project, where the company is building gold ounces 50 kilometres west of Thunder Bay, Ont., at surface and adjacent to the Trans-Canada highway. To date, the gold mineralization is defined over 1.8 km from surface to a vertical depth of 250 m. Highlights include drill intercepts such as 5.92 g/t Au over 31 m (including 14.8 g/t Au over 11.9 m), and 1.79 g/t Au over 128.5 m. The property covers 107 square kilometres and Delta has identified a five km long corridor of intense alteration and deformation at the property, on strike with the gold zone, that has yet to be thoroughly explored.
• The Delta-2 property covers 194 square kilometres in the prolific Chibougamau district of Quebec. The property holds excellent potential for gold-rich polymetallic volcanogenic massive sulphide deposits as well as hydrothermal-gold deposits. Delta targets VMS deposits such as the LeMoine past producer where 760,000 tonnes were mined between 1975 and 1983, grading 9.6 per cent zinc, 4.2 per cent copper, 4.5 g/t Au and 84 g/t silver.

We seek Safe Harbor.