Doré Copper Announces Mineral Resource Update FOR Devlin ̶ Preliminary Economic Assessment Underway
PRESS RELEASE
DORÉ COPPER ANNOUNCES MINERAL RESOURCE UPDATE FOR DEVLIN ̶
PRELIMINARY ECONOMIC ASSESSMENT UNDERWAY
Toronto, Ontario – October 14, 2021 – Doré Copper Mining Corp. (the "Corporation" or "Doré Copper")
(TSXV: DCMC; OTCQ X: DRCMF; FRA: DCM) is pleased to announce an updated mineral resource
estimate (“MRE”) for its Devlin copper project. The Devlin deposit is easily accessible, partially developed
and located approximately 10 kilometers west of the Corporation’s flagship Corner Bay project and
approximately 35 kilometers by road from the Corporation’s Copper Rand mill, near Chibougamau, Québec.
The preliminary economic assessment (“PEA”) for the hub-and-spoke operation model, which includes the
Corner Bay deposit as the main feed to the mill along with the Devlin deposit and the former Joe Mann
mine as secondary feed sources, is expected to be completed by January 2022.
Highlights of the Devlin Updated MRE
• Measured and Indicated Resource of 775,000 tonnes @ 2. 17% Cu and Inferred Resource of
484,000 tonnes @ 1.79% Cu
• Contains 37 million pounds of copper in the Measured and Indicated categories and 19 million
pounds of copper in the Inferred category
• Flat-lying deposit less than 100 meters from surface
• Infrastructure in place:
o 305-meter decline access to a vertical depth of 55 meters
o Within trucking distance (35 kilometres) of the Corporation’s 2,700 tpd mill
• Development plan contiguous with Corner Bay benefiting from operational synergies
• Included in the PEA anticipated in January 2022
Ernest Mast, President and CEO of Doré Copper , stated: “Our re-development plan for a hub-and-spoke
operation model in the PEA includes our significant high-grade Corner Bay copper-gold project as the main
feed to our centralized 2,700 tpd mill, supplemented by the Devlin and Joe Mann deposits. We plan to
develop Devlin at the same time as our flagship Corner Bay deposit, which we believe will bring additional
tonnes early in the mine life and have operational synergies with Corner Bay .”
The PEA will be using the MRE issued today for Devlin, the October 6, 2021 MRE for Corner Bay (refer to
news release October 6, 202 1) and the July 28, 2021 MRE for Joe Mann (Technical Report filed on
September 10, 2021). A NI 43 -101 technical report supporting the MREs for the Corner Bay and Devlin
projects will be filed on SEDAR (www.sedar.com) prior to November 20, 2021.
Mineral Resource Estimate for Devlin
The MRE for the Devlin deposit was completed by SLR Consulting (Canada) Ltd. (“SLR”) and is shown in
Table 1.
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Table 1. Devlin Mineral Resource Estimate (Effective date of October 7, 2021)
Classification Tonnage
(k t)
Cu Grade
(%)
Au Grade
(g/t)
Cu Contained
(M lbs)
Au Contained
(k oz)
Measured 121 2.74 0.29 7.3 1.1
Indicated 654 2.06 0.19 29.7 4.0
M+I 775 2.17 0.20 37.0 5.1
Inferred 484 1.79 0.17 19.2 2.7
Notes:
1. The stated Mineral Resources comply with the disclosure requirements of National Instrument 43-101 – Standards
of Disclosure for Mineral Projects ("NI 43 -101") and are classified in accordance with the Canadian Institute of
Mining, Metallurgy and Petroleum's "CIM Definition Standards – For Mineral Resources and Mineral Reserves" (the
“CIM Definition Standards”).
2. Mineral Resources are estimated at a cut-off grade of 1.2% Cu.
3. Mineral Resources are estimated using a long -term copper price of US$3.75 per pound, metallurgical copper
recovery of 95%, and a US$/C$ exchange rate of 0.75.
4. A minimum mining height of 1.8 meters was used.
5. Bulk density of 2.90 g/cm3 was used for the Lower Zone and 2.85 g/cm3 for the Upper Zone.
6. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
7. Numbers may not add due to rounding.
The MRE utilized a combination of historic holes drilled from 1974 to 1982 and more recent drilling by
Nuinsco (CBay Minerals Inc.) from 2013-14. A total of 140 drill holes (out of 174) were used for this MRE
with an aggregated length of 14,924 m eters. No additional drilling was completed at Devlin since 20 14
except for a few holes for metallurgical testing by Doré Copper during summer 2021.
Mineral Resource Estimation Methodology
SLR’s mineral resource update is based on the previous MRE, dated June 30, 2015, that was prepared by
Pierre Desautels, P.Geo., of AGP Mining Consultants Inc. ( “AGP”) using Gemcom GEMS Version 6.5
software. A block model was built by AGP based on 140 diamond drill holes that intersect the Lower Zone
and Upper Zone wireframes (Figure 1). The mineralization wireframes were built by AGP based on a 1.8
meters minimum mining height. Assays were capped to 15% Cu and 2.5 g/t Au in the Lower Zone and were
capped to 10% Cu and 1.5 g/t Au in the Upper Zone. Full intersect copper and gold composites were
interpolated into 10 meters by 10 meters by 2.5 meters high partial blocks using a three p ass, inverse
distance squared (ID2) estimation approach. AGP reported the resources base on a 1.6% Cu cut -off
grade. SLR reviewed and adopted the AGP block model after making modifications to the classification
model whereby the Measured blocks were pres erved and a portion of the Inferred blocks were upgraded
to Indicated. SLR’s MRE dated October 7, 2021 is based on a 1.2% Cu cut-off grade.
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Figure 1. Isometric View of Devlin Showing the Upper and Lower Zones (Looking Northeast)
Devlin Copper Deposit
The Devlin deposit is a flat -lying (horizontal) magmatic massive sulphide deposit which is less than 100
meters from surface. The deposit is mainly hosted by a hydrothermal breccia. It is composed of a massive
chalcopyrite-pyrite-quartz +/- carbonate vein which pinches and swells. Minor gold is present within the ore
body with values typically less than 0.34 g/t. High grade intersections usually consist of one or several
parallel quartz veins varying from a few centimet ers to 1 meter in thickness, in which the occurrence of
chalcopyrite may vary from occasional blebby specks to massive bands. As the mineralogy is very similar
to the Corner Bay deposit, the Corporation expects no issues in comingling material from both projects.
The Devlin deposit was drilled by Riocanex (1974-78) and Camchib Resources Inc. (1979-82). In 1981, a
305-meter access decline of 11 ft. x 15 ft. was driven at -15% to a vertical depth of 70 meters, intersecting
mineralization at approximately 55 meters below surface. An additional 305 meters of exploration drifting
was completed along the vein confirming the continuity and grade of the copper zone. A bulk sample totaling
2,744 short tons of development muck was processed at the Principale mill (dismantled). From an average
head grade of 1.26% Cu, a copper concentrate grading 17.79% Cu was ob tained with an overall copper
recovery of 96.9%. In 1995, Holmer Gold (55% owner of the property) retains Watts Griffis and McOuat
Limited (“WGM”) to prepare a technical review of the project. WGM developed a mine plan suggesting a
room and pillar approach with a mining rate of 200 tons per day for a total annual production of 50,000 short
tons over a mine life of four years. In 2004, Lake Shore Gold acquired Holmer Gold and the Devlin property.
The Devlin property was acquired by CBay Minerals Inc. in 2013. CBay Minerals completed 1,749 meters
of drilling in 17 holes from 2013-14. In 2015, CBay Minerals reported a NI 43-101 MRE and filed a Technical
Report for the Devlin project.
Qualified Persons
The MRE for Devlin was prepared by Luke Evans, M.Sc., P.Eng., ing, and Marie-Christine Gosselin, B.Sc.,
P.Geo., of SLR, both “Independent Qualified Persons” as defined by NI 43-101. The Qualified Persons are
not aware of any environmental, permitting, legal, title, taxation, socio -economic, marketing, political, or
other relevant factors that could materially affect the MREs.
Andrey Rinta, P.Geo., the Exploration Manager of the Corporation and a "Qualified Person" within the
meaning of National Instrument 43-101, has reviewed and approved the technical information contained in
this news release.
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About Doré Copper Mining Corp.
Doré Copper Mining Corp. is a copper -gold explorer and developer in the Chibougamau area of Québec,
Canada. The Corporation is focussed on implementing its hub -and-spoke development strategy by
advancing its key high -grade copper-gold brownfield projects towar ds a restart of operations. Our goal is
to achieve an annual production of 60 Mlbs of copper equivalent (or 100,000 oz gold equivalent).
The Corporation has consolidated a large land package in the prolific Lac Doré/Chibougamau and Joe
Mann mining camps t hat has produced 1.6 billion pounds of copper and 4.4 million ounces of gold1. The
land package includes 13 former producing mines, deposits and resource target areas within a 60-kilometre
radius of the Company’s 2,700 tpd mill (Copper Rand Mill).
Doré Copper plans to deliver a PEA of its hub -and-spoke model in January 2022. The Corporation is
completing its 2021 drilling program of 50,000 meters on its properties in the Lac Doré and Chibougamau
area of Québec.
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: emast@Dorécopper.com Email: lgaborit@Dorécopper.com
For more information, please 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 Abitibi, Canada by
François Leclerc et al. (Lac Doré/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).
Information Concerning Estimates of Mineral Reserves and Resources
The Mineral Reserve and Mineral Resource estimates in this press release have been disclosed in accordance with NI
43-101, which differs significantly from the requirements of the U.S. Securities and Exchange Commission (the “SEC”),
and information with respect to mineralization and Mineral Reserves and Mineral Resources contained herein may not
be comparable to similar information disclosed by U.S. companies. The requirements of NI 43 -101 for identification of
‘‘reserves’’ are not the same as those of the SEC, and reserves reported by the Company in compliance with NI 43 -
101 may not qualify as ‘‘reserves’’ under SEC standards. Under U.S. standards, mineralization may not be classified
as a ‘‘reserve’’ unless the determination has been made that the minerali zation could be economically and legally
produced or extracted at the time the reserve determination is made. In addition, and without limiting the generality of
the foregoing, this press release uses the terms ‘‘Measured Resources’’, ‘‘Indicated Resources ’’ and ‘‘Inferred
Resources’’. U.S. investors are advised that, while such terms are recognized and required by Canadian securities
laws, the SEC has not recognized them in the past. U.S. investors are cautioned not to assume that any part of a
‘‘Measured Resource’’ or ‘‘Indicated Resource’’ will ever be converted into a ‘‘reserve’’. U.S. investors should also
understand that ‘‘Inferred Resources’’ have a great amount of uncertainty as to their existence and as to their economic
and legal feasibility. It cannot be assumed that all or any part of ‘‘Inferred Resources’’ exist, are economically or legally
mineable or will ever be upgraded to a higher category. Under Canadian securities laws, ‘‘Inferred Resources’’ may not
form the basis of feasibility or pre -feasibility studies except in certain cases. Disclosure of ‘‘contained ounces’’ in a
Mineral Resource is a permitted disclosure under Canadian securities laws, however, the SEC normally only permits
issuers to report mineralization that does not constitute ‘ ‘reserves’’ by SEC standards as in place tonnage and grade,
without reference to unit measures. Accordingly, information concerning mineral deposits set forth in this press release
may not be comparable with information made public by companies that report in accordance with U.S. standards.
The SEC has adopted amendments to its disclosure rules to modernize the mineral property disclosure requirements
under the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”). These amendments became
effective February 25, 2019 (the “SEC Modernization Rules”) with compliance required for the first fiscal year beginning
on or after January 1, 2021. Under the SEC Modernization Rules, the historical property disclosure requirements for
mining registrants included in Industry Guide 7 under the U.S. Securities Act of 1933, as amended, will be rescinded
and replaced with disclosure requirements in subpart 1300 of SEC Regulation S -K. As a result of the adoption of the
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SEC Modernization Rules, the SEC now recog nizes estimates of “Measured Mineral Resources”, “Indicated Mineral
Resources” and “Inferred Mineral Resources.” In addition, the SEC has amended its definitions of “Proven Mineral
Reserves” and “Probable Mineral Reserves” to be “substantially similar” to the corresponding standards under NI 43 -
101. While the SEC will now recognize “Measured Mineral Resources”, “Indicated Mineral Resources” and “Inferred
Mineral Resources”, U.S. investors should not assume that any part or all of the mineralization in these categories will
ever be converted into a higher category of Mineral Resources or into Mineral Reserves. Mineralization described using
these terms has a greater amount of uncertainty as to its existence and feasibility than mineralization that has been
characterized as reserves. Accordingly, U.S. investors are cautioned not to assume that any Measured Mineral
Resources, Indicated Mineral Resources, or Inferred Mineral Resources that the Company reports are or will be
economically or legally mineable. Further, “Inferred Mineral Resources” have a greater amount of uncertainty as to their
existence and as to whether they can be mined legally or economically. Therefore, U.S. investors are also cautioned
not to assume that all or any part of the “Inferred Minera l Resources” exist. There is no assurance that any Mineral
Reserves or Mineral Resources that the Company may report as “Proven Mineral Reserves”, “Probable Mineral
Reserves”, “Measured Mineral Resources”, “Indicated Mineral Resources” and “Inferred Minera l Resources” under NI
43-101 would be the same had the Company prepared the reserve or resource estimates under the standards adopted
under the SEC Modernization Rules.
Mineral Resources are not Mineral Reserves, and do not have demonstrated economic viability, but do have reasonable
prospects for economic extraction. Measured and Indicated Mineral Resources are sufficiently well defined to allow
geological and grade continuity to be reasonably assumed and permit the application of technical and economic
parameters in assessing the economic viability of the Mineral Resource. Inferred Mineral Resources are estimated on
limited information not sufficient to verify geological and grade continuity or to allow technical and economic parameters
to be applied. Inferred Mineral Resources are too speculative geologically to have economic considerations applied to
them to enable them to be categorized as Mineral Reserves. There is no certainty that Mineral Resources of any
classification can be upgraded to Mineral Reserves through continued exploration.
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 tha t an event or result "may", "will", "should", "could" or
"might" occur or be achieved and other similar expressions and includes the negatives thereof. Specific forward-looking
statements in this press release include, but are not limited to , PEA expected in January 2022; development plan for
Devlin to be contiguous with Corner Bay, which the Corporation believes will bring additional tonnes early in the mine
life and have operational synergies with Corner Bay ; implementing a hub-and-spoke developm ent strategy by
advancing the Corporation’s key high-grade copper-gold brownfield projects towards a restart of operations ; and the
Corporation’s goal of achieving an annual production of 60 M lbs of copper equivalent (or 100,000 oz gold equivalent).
All statements other than statements of historical fact included in this release, including, without limitation, statements
regarding the timing and ability of the Corporation to receive necessary regulatory approvals, and the plans, operations
and prospects of the Corporation 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 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 detailed herein and from time to time in the filings made by the Corporation with
securities regulators. Although the Corporat ion 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 for ward-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 n or 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.