DLP.V · 2022-11-22 12:00:00

DLP Resources Announces Closing of First Tranche of Private Placement of Units

Financings

Cranbrook, British Columbia, (Newsfile Corp. – November 22, 2022) DLP Resources Inc. (the

“Company”) (TSXV: DLP) (OTCQB: DLPRF) is pleased to announce that it has closed the first tranche

of its previously announced non-brokered private placement (the “First Tranche”), whereby the

Company has completed the issuance of 3,383,200 units (each, a “Unit”) at a price of $0.25 per Unit

for gross proceeds of $845,800.

Each Unit consists of one common share in the capital of the Company (a “Share”) and one common

share purchase warrant of the Company (each whole warrant, a “Warrant”). Each Warrant entitles

the holder to purchase one common share in the capital of the Company (a “Warrant Share”) for a

period of two (2) years from the date of issue at an exercise price of $0.40 per Warrant Share, subject

to acceleration in the event that the trading price of the Shares equals or exceeds $0.50 for a period

of 10 consecutive days.

In connection with the First Tranche, the Company issued 117,824 finder’s warrants (the “Finder’s

Warrants”) and paid commissions of $29,456. Each Finder’s Warrant will entitle the holder, on

exercise thereof, to acquire one additional Share at a price of $0.25 per share for a period of two (2)

years from the date of issuance.

The securities offered in the First Tranche are subject to a four month and a day transfer restriction

from the date of issuance expiring on March 23, 2023, in addition to such other restrictions as may

apply under applicable securities laws of jurisdictions outside Canada.

The Company intends to use the proceeds of the First Tranche for funding the Company’s Peru

projects and general office and administration requirements.

Mr. Gendall President and CEO commented: With the closing of the first tranche of the private

placement we can complete the initial 3000m drill program on the Aurora project which commenced

in late August 2022. To date approximately 1450m have been drilled in three holes. Complete results

for A22-01 and A22-02 are expected to be released in the next 2 weeks.

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 Southern Peru and Southeastern

British Columbia, exploring for Copper, Base Metals and Cobalt. DLP is listed on the TSX-V, trading

symbol DLP and on the OTCQB, trading symbol DLPRF. Please refer to our website

www.dlpresourcesinc.com for additional information.

FOR FURTHER INFORMATION PLEASE CONTACT: DLP Resources Inc.

Ian Gendall, Chief Executive Officer and President

Jim Stypula, Executive Chairman

Robin Sudo, Chief Financial Officer and Corporate Secretary

Maxwell Reinhart, Investor Relations

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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

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 plan s, estimates and

forecasts and statements as to management's expectations and intentions with respect to, among

other things, the use of the proceeds raised under the First Tranche.

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, market uncertainty and that the Company will not use the

proceeds of the First Tranche as currently anticipated.

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

material assumptions, incl uding without limitation, that the Company will use the proceeds of th e

First Tranche 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 information. Readers are cautioned that reliance on such information may not be appropriate

for other purposes. The Company does not un dertake 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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