Doré Copper Announces up to $3 Million Non-Brokered Private Placement of Common Shares and Flow-Through Shares
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PRESS RELEASE
DORÉ COPPER ANNOUNCES UP TO $3 MILLION NON-BROKERED PRIVATE
PLACEMENT OF COMMON SHARES AND FLOW-THROUGH SHARES
Not for distribution to United States news wire services or for dissemination in the United States
Toronto, Ontario – May 8, 2023 – Doré Copper Mining Corp. (the "Corporation" or "Doré Copper") (TSX-
V:DCMC; OTCQB:DRCMF; FRA:DRM) is pleased to announce a non-brokered private placement of: (i) up
to 8,050,000 common shares in the capital of the Corporation (the "Common Shares") at a price of $0.20
per Common Share for gross proceeds of up to $1,610,000; (ii) up to 833,336 common shares in the capital
of the Corporation that will qualify as "flow-through shares" within the meaning of subsection 66(15) of the
Income Tax Act (Canada) and section 359.1 of the Taxation Act (Québec) (the "Traditional Flow-Through
Shares") at a price of $0.24 per Traditional Flow-Through Share for gross proceeds of up to $200,000.64;
and (iii) up to 2,875,000 common shares in the capital of the Corporation that will qualify as "flow -through
shares" within the meaning of subsection 66(15) of the Income Tax Act (Canada) and section 359.1 of the
Taxation Act (Québec) (the "Charitable Flow-Through Shares" and together with the Traditional Flow-
Through Shares, the "Flow-Through Shares") at a price of $0.415 per Charitable Flow-Through Share for
gross proceeds of up to $1,193,125, for aggregate gross proceeds to the Corporation of up to
$3,003,125.64 (collectively, the "Offering").
The net proceeds from the sale of the Common Shares will be used for exploration and development
activities and for working capital and general corporate purposes. The Corporation will use an amount equal
to the gross proceeds received by the Corporation from the sale of the Flow -Through Shares, pursuant to
the provisions in the Income Tax Act (Canada), to incur , directly or indirectly, expenses (" Qualifying
Expenditures") related to the Corporation's projects in Québec, on or before December 31, 2024, that are
eligible "Canadian exploration expenses" (as defined in the Income Tax Act (Canada)), which, in the case
of the Traditional Flow -Through Shares, will qualify as "flow -through mining expenditures" (as defined in
the Income Tax Act (Canada)), and, in the case of the Charitable Flow-Through Shares, will qualify as "flow-
through critical mineral mining expenditures" (as defined in the Income Tax Act (Canada)), and renounce
all the Qualifying Expenditures in favour of the applicable subscribers of the Flow-Through Shares effective
December 31, 2023. In addition, with respect to Québec resident subscribers who are eligible individuals
under the Taxation Act (Québec), the Canadian exploration expenses will also qualify for inclusion in th e
"exploration base relating to certain Québec exploration expenses" within the meaning of section 726.4.10
of the Taxation Act (Québec) and for inclusion in the "exploration base relating to certain Québec surface
mining expenses or oil and gas exploratio n expenses" within the meaning of section 726.4.17.2 of the
Taxation Act (Québec).
In connection with the Offering, certain arm's-length parties may receive a cash finder's fee payment and/or
warrants to purchase common shares in the capital of the Corporation in consideration of securities that
are sold to subscribers introduced by such parties. Any cash finder's fee payment and/or warrants will be
subject to the approval of, and will be issued in accordance with the rules of, the TSX Venture Exchange.
The Offering is expected to close on or about June 1, 2023, or such other date as the Corporation may
determine and is subject to certain conditions including, but not limited to, the receipt of all necessary
regulatory and other approvals including the acceptance of the TSX Venture Exchange
The Offering will be made by way of private placement in each of the provinces of Canada pursuant to
applicable exemptions from the prospectus requirements and, in the case of the Common Shares, such
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other jurisdictions, in each case in accordance with all applicable laws, provided that no p rospectus,
registration statement or other similar document is required to be filed in such jurisdiction. The securities
issued under the Offering will be subject to a four -month hold period under applicable Canadian securities
laws.
The securities offered have not been, nor will they be, registered under the United States Securities Act
of 1933, as amended, or any state securities law, and may not be offered, sold or delivered, directly or
indirectly, within the United States, or to or for the account or benefit of U.S. persons, absent registration
or an exemption from such registration requirements. This news release does not constitute an offer to sell
or the solicitation of an offer to buy nor shall there be any sale of securities in any state in the United
States in which such offer, solicitation or sale would be unlawful.
About Doré Copper Mining Corp.
Doré Copper Mining Corp. aims to be the next copper producer in Québec with an initial production target
of +50 million pounds of copper equivalent annually by implementing a hub -and-spoke operation model
with multiple high-grade copper-gold assets feeding its centralized Copper Rand mill1. The Corporation has
delivered its PEA in May 2022 and is proceeding with a feasibility study.
The Corporation has consolidated a large land package in the prolific Lac Doré/Chibougamau and Joe
Mann mining camps that has historically produced 1.6 billion pounds of copper and 4.4 million ounces of
gold2. The land package includes 13 former producing mines, deposits and resource target areas within a
60-kilometer radius of the Corporation's Copper Rand Mill.
For further information, please visit the Corporation's website at www.dorecopper.com or refer to Doré
Copper's SEDAR filings at www.sedar.com or contact:
Ernest Mast Laurie Gaborit
President and Chief Executive Officer Vice President, Investor Relations
Phone: (416) 792-2229 Phone: (416) 219-2049
Email: [email protected] Email: [email protected]
1. Technical report titled "Preliminary Economic Assessment for the Chibougamau Hub -and-Spoke Complex, Québec, Canada"
dated June 15, 2022, in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”).
The Technical Report was prepared by BBA Inc. with several consulting firms contributing to sections of the study, including SLR
Consulting (Canada) Ltd., SRK Consulting (Canada) Inc. and WSP Inc.
2. Sources for historic production figures: Economic Geology, v. 107, pp. 963 –989 - Structural and Stratigraphic Controls on
Magmatic, Volcanogenic, and Shear Zone -Hosted Mineralization in the Chapais -Chibougamau Mining Camp, Northeastern
Abitibi, Canada by François Leclerc et al. (Lac Dore/Chibougamau mining camp) and NI 43 -101 Technical Report on the Joe
Mann Property dated January 11, 2016 by Geologica Groupe-Conseil Inc. for Jessie Ressources Inc. (Joe Mann mine).
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain "forward -looking statements" under applicable Canadian securities
legislation. Forward-looking statements include, but are not limited to, statements with respect to the terms
of the Offering, the use of proceeds of the O ffering, the timing and ability of the Corporation to close the
Offering, the timing and ability of the Corporation to receive necessary regulatory approvals, including the
acceptance of the Offering from the TSX Venture Exchange, the renunciation to the purchasers of the Flow-
Through Shares and timing thereof, the tax treatment of the Flow -Through Shares, and the plans,
operations and prospects of the Corporation. Forward -looking statements are necessarily based upon a
number of estimates and assumptions t hat, while considered reasonable, are subject to known and
unknown risks, uncertainties and other factors which may cause the actual results and future events to
differ materially from those expressed or implied by such forward-looking statements. Such factors include,
but are not limited to: general business, economic, competitive, political and social uncertainties; delay or
failure to receive regulatory approvals; the price of gold and copper; and the results of current exploration.
There can be no assur ance that such statements will prove to be accurate, as actual results and future
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events could differ materially from those anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements. The Corporation disclaims any intention or obligation
to update or revise any forward -looking statements, whether as a result of new information, future events
or otherwise, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as t hat term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
news release.