Dore Copper Announces Update ON the Joe MANN Option Agreement
PRESS RELEASE
DORE COPPER ANNOUNCES UPDATE ON THE JOE MANN OPTION AGREEMENT
Toronto, Ontario – November 18, 2022 – Doré Copper Mining Corp. (the "Company" or "Doré Copper")
(TSXV: DCMC; OTCQX: DRCMF; FRA: DCM) is pleased to announce that it has entered into an agreement
(the "Amending Agreement") on October 28, 2022 to amend the earn -in option agreement (the "Option
Agreement") dated January 2, 2020 between the Company and Ressources Jessie Inc. (" Ressources
Jessie") pursuant to which the Company has an option to acquire the Joe Mann Property (the "Property")
from Ressources Jessie , as previously announced on January 2 , 2020. 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 20071. The deposit has an inferred 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, 20222.
Pursuant to the terms of the Amending Agreement, t he Company has agreed to accelerate the final
scheduled cash and share payments under the Option Agreement. The Company has made the final
scheduled cash payment of $1,500,000 to Ressources Jessie (thus fulfilling the scheduled cash payment
obligations), and will issue 3,333,333 common shares in the capital of the Company ("Common Shares")
to Legault Metals Inc. (" Legault") at a deemed price of $0.30 per Common Share for an aggregate value
of $1,000,000 upon acceptance of the TSX Venture Exchange (thus fulfilling all scheduled share payment
obligations). The deadline for the Company to incur the remaining exploration expenditures on the Property,
totaling approximately $830,000, has also been extended to February 28, 2023.
Following the fulfillment of the scheduled cash and share payment obligations , Ressources Jessie will
commence the transfer of the Property to the Company. Upon exercise of the option, the Company is
required to grant to Ressources Jessie a 2% net smelter return ("NSR") royalty on the mine production from
the 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 original terms of the Option Agreement, upon the commencement of commercial production
at the Property, Doré Copper will make an additional $1,000,000 cash payment to Ressources Jessie and
issue $1,500,000 in Common Shares to Legault.
The Company is currently drilling a hole on the eastern side of the Joe Mann mine, below the deepest
mined level, to test the down plunge extension of a historical underground hole that returned 9.33 g/t Au
over 2.4 meters (U -9161_D). In early 2023, the Company plans to test a geophysical anomaly located
approximately 500 metres south of the mine.
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.
The map below shows the land tenure of the Joe Mann Property.
2
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 centraliz ed 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.
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 Controls on
Magmatic, Volcanogenic, and Shear Zone -Hosted Mineralization in the Chapais -Chibougamau Mining Camp, Northeastern
3
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 Geolo gica 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 of 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 as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project",
"target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or
"might" occur or be achieved and other 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 neces sary 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. Forwar d-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 may 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 be 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 detai led 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 res ult 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.