Mr. Andre Tessier reports

DELTA DRILLS 15.94 G/T OVER 10 METRES AT DELTA-1, IN THUNDER BAY, ONTARIO

Delta Resources Ltd. has provided final assay results for the first four drill holes, and one drill hole extension, from its initial 2024 drill campaign at its 100-per-cent-owned Delta-1 gold project. The holes reported a total of 1,371 metres of a 5,000-metre drill campaign previously announced on Jan. 16, 2024, at the Delta-1 gold project located 50 kilometres west of Thunder Bay, Ont.

The objective of this drill campaign is two-fold:

1. To fill in gaps from Delta's previous drilling within a mineral envelope already identified within a two km strike and 250-metre vertical depth to further increase the overall mineral inventory;
2. Exploration drill holes to the east, west and further depths to demonstrate the potential of significantly expanding the mineral envelope.

Highlights:

• Drill hole D1-24-90 intersected 15.94 grams per tonne (g/t) gold (Au) over 10 metres;
• Drill hole D1-24-87 intersected 1.66 g/t over 10.5 metres;
• Drill hole D1-24-88 intersected 1.05 g/t over 12.2 metres;
• Drill hole D1-24-89 intersected 1.03 g/t over 16.1 metres;
• Drill hole D1-24-34ext intersected 1.09 g/t over 21 metres.

Andre Tessier, president and chief executive officer, commented: "We are extremely pleased with these initial results from our 2024 drill campaign at the Delta 1 gold deposit in Thunder Bay, Ont. These results are a great way to start the year at Delta. Once more, the gold zones continue to show continuity and homogeneity. Drill hole D1-24-90 was especially excellent, with high grades that are sure to help the economics of the deposit. We look forward to additional results from the current ongoing campaign."

Complete results from the first four drill holes and one drill hole extension are provided in the table entitled "Table of new drilling results at the Delta-1 project; Feb. 29, 2024." The 2024 drill campaign is continuing, with final assay results still pending.

Detailed results:

• Drill hole D1-24-90 was designed to intersect the gold zone 50 metres up-dip from the intercept of drill hole D1-23-67, which previously assayed 0.66 g/t Au over 40.20 metres, including 0.95 g/t Au over 20.2 metres. The hole intersected several gold zones, including a high-grade zone grading 15.94 g/t gold over 10 metres, including 57.80 g/t Au over one m and 99.4 g/t Au over 0.90 metre.
  • It appears the gold zone is dipping shallowly toward the south at this section, in contrast to the steep north dip in sections to the west. The current interpretation is that the gold zone may have been rotated along northeast-trending structures. If the zone continues eastward with this dip, it is possible the drill holes completed in the low magnetic anomaly in 2023 may have been drilled down dip, therefore missing the zone.
• Drill hole D1-24-87 was designed to intersect the gold zone 50 metres up dip from the intercept of drill hole D1-23-33, which previously assayed 1.15 g/t Au over 89.70 metres. The hole intersected multiple gold zones starting at 30 metres vertical depth with intercepts of 1.66 g/t Au over 10.5 metres and 1.23 g/t Au over 5.4 metres. Drill hole D1-24-87 also intersected the Gamma zone at 70 metres vertical depth with 18.5 metres grading 1.23 g/t gold. Drill hole D1-24-87 also intercepted a narrow but high-grade zone of 22.30 g/t Au over 0.8 metre at a vertical depth of approximately 130 metres.
• Drill hole D1-24-88 was designed to intersect the gold zone 60 metres up dip from the intercept of drill hole D1-23-65, which previously assayed 1.39 g/t Au over 35.50 metres. The drill hole appears to have overshot the Beta gold zone, but successfully intersected the Gamma zone starting at 85 metres vertical depth with an intercept of 1.05 g/t Au over 12.20 metres, including 7.24 g/t Au over 0.90 metre.
• Drill hole D1-24-34 extension deepened drill hole D1-23-34, which previously assayed 109 metres grading 0.86 g/t Au, was extended by 206.7 metres to test the extent of the Beta gold zone at depth. The extension, drill hole D1-24-34 extension, successfully extended the Beta zone with an intercept 51.7 metres grading 0.69 g/t gold, including a 21-metre section grading 1.09 g/t gold. Drill hole D1-24-34 extension also successfully intersected the Gamma zone at 200 metres vertical depth with an intercept of 7.1 metres grading 1.17 g/t gold. Combined, the intercepts of D1-23-34 and D1-24-34 extension amount to 0.76 g/t gold over 163 metres from 30 metres vertical depth, including sections of 1.31 g/t over 42.5 metres, 1.11 g/t gold over 26.5 metres and 1.09 g/t gold over 21 metres.
• Drill hole D1-24-89 was designed to test the Gold zone 130 metres below the intercepts of drill hole D1-23-39 and 180 metres below drill hole D1-23-38. The section is complex, with the mineralized zone being partially diked out. Nonetheless, the hole successfully extended the zone to a vertical depth of 210 metres below the dike, with intercepts of 0.42 g/t gold over 19 metres and 1.05 g/t gold over six metres.

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 2.3 kilometres, with a higher-grade segment extending for nearly 950 metres. So far, the mineralized zone extends from surface to a vertical depth of approximately 250 metres. Mineralization strikes approximately 100 degrees to 120 degrees azimuth, with a dip of 75 degrees to 80 degrees north (shallower dips of 50 degrees north are observed in the western portion of the zone). Higher-grade, wide oreshoots are observed and appear to be plunging approximately 40 degrees toward the west, within this structural corridor. Similar oreshoots are often observed in structurally controlled gold deposits and often occur with a certain periodicity. The currently defined oreshoots are open at depth.

Analytical protocol and quality assurance/quality control (QA/QC)

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 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, a one-kilogram (kg) 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 g fire assay with ICP-OES (inductively coupled plasma optical emission spectrometry) finish at the AGAT Laboratory in Thunder Bay, Ont. If the assay result exceeds two g/t gold, remaining rejects are pulverized, a one kg portion is screened to 106 micrometres and analyzed by 50 g 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, 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 kilometres from surface to a vertical depth of 250 metres. Highlights include drill intercepts such as 5.92 grams per tonne gold 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 gold and 84 g/t silver.

We seek Safe Harbor.