DLP.V · 2023-03-24 12:00:00

DLP Resources Announces Upsizing of Private Placement

Financings

Cranbrook, British Columbia, (Newsfile Corp. – March 24 , 2023) – DLP Resources Inc. (the

“Company”) (TSXV: DLP) (OTCQB: DLPRF) is pleased to announce that it intends to increase the size

of its previously announced non-brokered private placement (the “ Private Placement”) to up to

4,281,250 flow-through common shares (each, a “ FT Share”) at a price of $0.40 per FT Share for

gross proceeds of up to $1,712,500.

The Private Placement will be 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 of

National Instrument 45 -106 Prospectus Exemptions . The Private Placement will also be made

available to existing shareholders of the Company who, as of the close of business on March 22,

2023, held Shares (and who continue to hold such Shares as of the closing date), pursuant to the

existing shareholder exemption set out in BC Instrument 45 -534 Exemption From Prospectus

Requirement for Certain Trades to Existing Security Holders (the “ Existing Securityholder

Exemption”). The Existing Securityholder Exemption limits a shareholder to a maximum investment

of CAD$15,000 in a 12 -month period unless the shareholder has obtained advice regarding the

suitability of the investment and, if the shareholder is resident in a jurisdiction of Canada, that

advice h as been obtained from a person that is registered as an investment dealer in the

jurisdiction. If the Company receives subscriptions from investors relying on the Existing

Shareholder Exemption exceeding the maximum amount of the Private Placement, the Com pany

intends to adjust the subscriptions received on a pro-rata basis.

The proceeds of the Private Placement will be used for drilling on its Copper Creek Project, follow -

up sampling, prospecting and evaluation of the Hungry Creek and Redburn projects and drilling on

the Moby Dick and NZOU projects. There may be circumstances, however, where, for sound

business reasons, a reallocation of funds may be necessary.

The Private Placement is subject to all necessary regulatory approvals including acceptance from

the TSX Venture Exchange. All securities issued in connection with the Private Placement will be

subject to a four -month hold period from the closing date under applicable Canadian securities

laws, in addition to such other restrictions as may apply under applicable securities laws of

jurisdictions outside Canada.

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 Briti sh 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 and President

Jim Stypula, Executive Chairman

Robin Sudo, Chief Financial Officer and Corporate Secretary

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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 st atements 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 manageme nt 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 cert ain 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 witho ut 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 and the use of any proceeds raised under 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 unc ertainties 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 and TSX Venture

Exchange approvals for the Private Place ment; 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 fa ctors 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 ass urance 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 undertake to update any forward -looking statement,

forward-looking information or financial out -look that are incorpor ated by reference herein, except in accordance

with applicable securities laws. We seek safe harbor.

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