DLP.V · 2021-12-03 12:00:00

DLP Announces Update on Proposed Flow-Through Private Placement

Financings

Cranbrook, British Columbia, (Newsfile Corp. – December 3, 2021) DLP Resources Inc. (the “Company”)

(TSXV: DLP) (OTCQB:DLPRF) announces, further to its news release dated November 9, 2021, the

Company now intends to complete an offering (the “Private Placement”) of up to 2,000,000 flow-through

units (each, a “FT Unit”) at a price of $0.25 per FT Unit for gross proceeds of $500,000. Each FT Unit will

be comprised of one flow -through share and one-half of one non-transferable common share purchase

warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one additional common share of

the Company at an exercise price of $0.40 per share for a period of 2 years from the date of issuance.

The Company intends to pay finder’s fees in connection with the Private Placement to certain eligible

finders in the form of: (i) a cash commission of 7% of the gross proceeds raised under the Pr ivate

Placement from investors introduced to the Company by the finder; and (ii) the issuance of such number

of non-transferable common share purchase warrants of the Company (the “ Finder’s Warrants”) equal

to 7% of the FT Units issued under the Private Pl acement from investors introduced to the Company by

the finder. Each Finder’s Warrant will entitle the holder thereof to acquire one common share of the

Company for an exercise price of $0.25 per share for a period of 2 years from closing of the Private

Placement.

The Company intends to use the proceeds from the Private Placement for drilling on its Moby Dick and

NZOU projects.

The Private Placement will b e made available to subscribers pursuant to the accredited investor and

friends, family and business associate exemptions provided under sections 2.3(1) and 2.5(1) of National

Instrument 45-106 Prospectus Exemptions.

Not for distribution to U.S. news wire services or dissemination in the United States.

About DLP Resources Inc.

DLP Resources Inc. is a mineral exploration company operating in Southeastern British Columbia,

exploring for Base Metals and Cobalt. DLP is listed on the TSX -V, trading symbol DLP. Please refer to our

web site www.dlpresourcesinc.com for additional information.

FOR FURTHER INFORMATION PLEASE CONTACT: DLP Resources Inc.

Ian Gendall, President

Jim Stypula, Chief Executive Officer

Robin Sudo, Chief Financial Officer and Corporate Secretary

Telephone: 250-426-7808

Email: [email protected]

Neither the 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 release.

Cautionary Note Regarding Forward-Looking Information

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This release includes certain statements and information that may constitute forward-looking information

within the meaning of applicable Canadian securities laws. Forward -looking statements relate to future

events or future performance and reflect the expectations or beliefs of management of the Company

regarding future events. Generally, forward-looking statements and information can be identified by the

use of forward -looking terminology such as “intends” or “anticipates”, or variations of such words and

phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”.

This information and these statements, referred to herein as "forward‐looking statements", are not

historical facts, are made as of the date of this news release and include without limitation, statements

regarding discussions of future plans, estimates and forecasts and statements as to management's

expectations and intentions with respect to, among other things , the anticipated proceeds to be raised

under the Private Placement; the us e of any proceeds raised under the Private Placement; and finder’s

fees to be paid in connection with the Private Placement.

These forward‐looking statements involve numerous risks and uncertainties and actual results might differ

materially from results suggested in any forward -looking statements. These risks and uncertainties

include, among other things, delays in obtaining or failure to obtain required regulatory approvals for the

Private Placement; market uncertainty; and the inability of the Company to raise the anticipated proceeds

under the Private Placement.

In making the forward looking statements in this news release, the Company has applied several material

assumptions, including without limitation, that the Company will obtain the required regulatory approvals

for the Private Placement; the Company will be able to raise the anticipated proceeds under the Private

Placement; and the Company will use the proceeds of the Private Placement as currently anticipated.

Although management of the Company has attempted to identify important factors that could cause

actual results to differ materially from those contained in forward-looking statements or forward-looking

information, there may be other factors that cause results not to be as anticipated, estimated or intended.

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 and forward -looking i nformation. Readers are

cautioned that reliance on such information may not be appropriate for other purposes. The Company

does not undertake to update any forward -looking statement, forward -looking information or financial

out-look that are incorporated by reference herein, except in accordance with applicable securities laws.

We seek safe harbor.

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