DLP.V · 2022-08-12 12:00:00

DLP Resources Announces Proposed Performance Shares

Corporate Updates

Cranbrook, British Columbia, (Newsfile Corp. – August 12, 2022) DLP Resources Inc. (the “Company”)

(TSXV:DLP) (OTCQB:DLPRF) is pleased to announce that, pursuant to a performance shares agreement

dated November 25, 2021 (the “Agreement”) with Ian Gendall, President of the Company and a Non-

Arm’s Length Party (as defined under the policies of the TSX Venture Exchange), the Company has

agreed to issue 300,000 common shares of the Company (the “Performance Shares”) at a deemed

price of $0.20 per share to Mr. Gendall, being equal to the closing price of the common shares of the

Company on the date prior to the date of the Agreement. The total dollar value of the Performance

Shares to be issued is $60,000.

The Performance Shares will be issued outside of the Company’s security-based compensation plan

pursuant to Section 6.1 of Policy 4.4 of the TSX Venture Exchange, and the proposed issuance remains

subject to disinterested shareholder approval and the final approval of the TSX Venture Exchange. The

Performance Shares will be subject to a statutory four-month hold period in accordance with

applicable securities laws.

About DLP Resources Inc.

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

Peru, exploring for 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 web site www.dlpresourcesinc.com for additional

information.

FOR FURTHER INFORMATION PLEASE CONTACT:

DLP RESOURCES INC.

Ian Gendall, CEO & President

Jim Stypula, Executive Chairman

Robin Sudo, Chief Financial Officer and Corporate Secretary

Maxwell Reinhart, Investor Relations

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

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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 issuance of

the Performance Shares pursuant to the Agreement and the receipt of disinterested shareholder

approval and final approval from the TSX Venture Exchange.

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

differ materially from r esults suggested in any forward -looking statements. These risks and

uncertainties include, among other things, delays in obtaining or failure to obtain required disinterested

shareholder or regulatory approvals for the issuance of the Performance Shares.

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

disinterested shareholder and regulatory approvals for the issuance of the Performance Shares.

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 statem ents. 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 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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