Dore Copper Announces Exercise of Joe MANN Option FOR 100% Interest IN the Property
PRESS RELEASE
DORE COPPER ANNOUNCES EXERCISE OF JOE MANN OPTION FOR 100%
INTEREST IN THE PROPERTY
Toronto, Ontario – February 21, 2023 – Doré Copper Mining Corp. (the " Company" or "Doré Copper")
(TSXV: DCMC; OTCQ X: DRCMF; FRA: DCM) is pleased to announce that, further to its news releases
dated January 2, 2020 and November 18, 2022, it has exercised the option to acquire a 100% interest in
the Joe Mann Option Property (the "Option Property"), which covers the former Joe Mann mine, pursuant
to an earn-in option agreement (the "Option Agreement") dated January 2, 2020 , as amended October
28, 2022, between the Company and Ressources Jessie Inc. ("Ressources Jessie"). The Joe Mann mine,
located 60 kilometers south of Chibougamau, Quebec, produced 1.12 million ounces of gold at an average
grade of 8.26 g/t from the 1950s to 2007.1 The deposit has an inferred mineral resource of 680,000 tonnes
grading 6.78 g/t Au and 0.24% Cu , which was included in the Co mpany's Preliminary Economic
Assessment (PEA) of its hub-and-spoke operation announced on May 10, 2022.2
In accordance with the terms of the Option Agreement, Ressources Jessie has transferred the Option
Property (1,965 ha) to the Company and the Company has granted to Ressources Jessie a 2% net smelter
return ("NSR") royalty on the mine production from the Option Property. The Company will be entitled to
buy back 1% NSR in consideration for a payment to Ressources Jessie of $2,000,000 and to buy back an
additional 0.5% NSR in consideration for a payment to Ressources Jessie of $4,000,000.
Pursuant to the terms of the Option Agreement, upon the commencement of commercial production at the
Option Property, Doré Copper will make an additional $1,000,000 cash payment to Ressources Jessie and
issue $1,500,000 in common shares in the capital of the Company to Legault Metals Inc.
With the exercise of the Option Property, Doré Copper has a 100% interest in the Joe Mann Property which
totals 2,732 ha in four groups of non -contiguous mineral titles, including 74 claims and two mining
concessions (Figure 1).
Sylvain Lépine, M.Sc., P.Geo., Vice President Exploration of the Company and a "Qualified Person" within
the meaning of National Instrument 43 -101 – Standards of Disclosure for Mineral Projects , has reviewed
and approved the scientific and technical information contained in this news release.
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 Mlbs of copper equivalent annually by implementing a hub-and-spoke operation model with multiple
high-grade copper-gold assets feeding its centralized Copper Rand mill .2 The Company has delivered its
PEA in May 2022 and is proceeding with a feasibility study.
The Company 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 gold .1
The land package includes 13 former producing mines, deposits and resource target areas within a 60 -
kilometre radius of the Company's Copper Rand Mill.
2
Figure 1. Joe Mann Property - Land Tenure Map
For further information, please 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]
Visit: www.dorecopper.com
Facebook: Doré Copper Mining
LinkedIn: Doré Copper Mining Corp.
Twitter: @DoreCopper
Instagram: @DoreCopperMining
1. Sources for historic production figures: Economic Geology, v. 107, pp. 963 –989 - Structural and Stratigraphic Contr ols 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 d ated January 11, 2016 by Geologica Groupe -Conseil Inc. for Jessie Ressources Inc. (Joe Mann mine). Doré
Ramp November 1992 Summary, internal Westminer Report.
2. 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. The Technical
Report was prepared by BBA Inc. with several consulting firms contributing to sections o f the study, including SLR Consulting
(Canada) Ltd., SRK Consulting (Canada) Inc. and WSP Inc.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain "forward -looking statements" under applicable Canadian securities legislation.
Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by
the use of words such a s "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project",
3
"target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or
"might" occur or be achieved and oth er similar expressions and includes the negatives thereof. All statements other
than statements of historical fact included in this news release, including, without limitation, statements with respect to
the timing and ability of the Company to receive necessary regulatory approvals , the Company's ability to meet its
production target, the commencement, timing and completion of a feasibility study, and the plans, operations and
prospects of the Company and its properties are forward -looking statements. Forward -looking statements are
necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to
known and unknown risks, uncertainties and other factors which ma y cause 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, actual exploration results, changes in project parameters as plans continue to b e refined, future metal prices,
availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured
risks, regulatory changes, delays or inability to receive required regulatory approvals, health emergencies, pandemics
and other exploration or other risks detailed herein and from time to time in the filings made by the Company with
securities regulators. Although the Company has attempted to identify important factors that could cause actual actions,
events or results to differ from those described in forward -looking statements, there may be other factors that cause
such actions, events or results to differ materially from those anticipated. There can be no assurance that such
statements will prove to be accurate, as actual results and future events could differ materially from those anticipated
in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company
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 that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
news release.