DLP.V · 2023-10-11 12:00:00

DLP Resources intersects 365.7m of 0.81 % CuEq* within a 970.7m interval of 0.53% CuEq* on the Aurora Project in Southern Peru

Drill Results

DLP Resources intersects 365.7m of 0.81 % CuEq* within a 970.7m interval of 0.53% CuEq* on the

Aurora Project in Southern Peru

Cranbrook, British Columbia, (Newsfile Corp. – October 11, 2023) DLP Resources Inc. (“DLP” or the “ Company”)

(TSXV:DLP) (OTCQB:DLPRF) announces receipt of complete drill results for drillhole, A23-011 on the Aurora porphyry

copper-molybdenum project in southern Peru (Figure 1).

Results for the first ten drillholes, A22-001, A22-002, A22-003, A23-004, A23-005, A23-006, A23-007, A23-008, A23-

009 and A23 -010 were released on September 05, 2023 (see DLP Resources Inc. , news releases of September 05,

2023 for results for A23-001 to A23-010 and Table 3 below).

Highlights

Drillhole A23-011 was drilled approximately 268m southwest of drillhole A23-010 and intersected significant copper

and molybdenum mineralization throughout the hole to a depth of 1081.70m. A23 -011 ended in molybdenum

mineralization and the most significant mineralized intervals included:

• 0.53% CuEq* over 970.70m (0.17% Cu, 0.0667% Mo and 1.81g/t Ag) from 111m to 1081.70m.

• 0.54% CuEq* over 32.00m (0.44% Cu, 0.0125% Mo and 3.69g/t Ag) from 183.00m to 215.00m.

• 0.66% CuEq* over 557.70m (0.09% Cu, 0.1078% Mo and 1.38g/t Ag) from 524.00m to 1081.70m.

• 0.81% CuEq* over 365.70m (0.07% Cu, 0.1403% Mo and 0.66g/t Ag) from 716.00m to 1081.70m.

The complete set of results for A23-011 are summarized in Table 1 below.

Mr. Gendall, President and CEO commented: “ A23-011 was drilled on a step -out of 268m to the SW of A23 -010 to

define the western edge of the hornfels-porphyry contact on the southeast side of Aurora. This hole now confirms

a copper-molybdenum mineralized trend of at least 980m which is still open to the southeast and west. This hole

ended in molybdenum mineralization at a depth of 1081.70m. Drilling is ongoing on the southeast side and A23-012

is being drilled on a step out of approximately 140m west of A23 -011 to a depth of 1000m . We continue to be

encouraged with the results of the first 11 drillholes and look forward to receiving results for A23 -012 in early

November.”

Aurora Cu-Mo Project – Summary of Drill Results for A23-011

Drillhole A23-011 (Figures 2,3 and 4) commenced on August 16, 2023 and was completed on September 16, 2023 at

a depth of 1081.70m. The drillhole was drilled on an azimuth of 025 degrees with a dip of -70 degrees. Coordinates

are 8,565,440mN and 189,970mE at an elevation of 2760m.

o 0 – 3.10m: Overburden, no core recovered.

o 3.10 – 192.15m: Hornfels with minor chalcopyrite with molybdenite . Upper 110m is

partially leached.

o 192.15 – 297.70m: Quartz-eye-feldspar-biotite porphyry (QEFBP) with moderate to

strong intermediate argillic alteration and quartz-sericite alteration overprint of weak

secondary biotite alteration. Mineralization includes minor amounts of disseminated

chalcopyrite with trace chalcocite and covellite, moderate amounts of pyrite and trace

molybdenite. Fault zone on lower contact.

o 297.70 – 524.00m: QEFBP with moderate secondary biotite alteration and minor fluorite

with moderate chalcopyrite-pyrite mineralization and minor molybdenite.

o 524.00 – 704.70: QEFBP with moderate quartz-sericite alteration overprint on potassically

altered porphyry. Minor chalcopyrite-pyrite mineralization with moderate molybdenite

mineralization.

o 704.70 – 1081.70m: QEFBP and quartz-feldspar porphyry (QFP) with moderate to strong

coarse graine muscovite and K -feldspar alteration and weak intermediate argillic

overprint. Mineralization includes moderate disseminated pyrite, minor chalcopyrite with

intense molybdenite both disseminated and in quartz veinlets . The hole ended in

molybdenite mineralization.

Table 1. Summary of Drill Results for Diamond Drillhole A23-011. All grades are length-weighted averages of samples

within the interval reported.

Hole From To Interval1 Description

(total) Mo Ag Cueq*

ID m m m % % g/t %

A23-011 3.10 1081.70 1078.60

Leached+Mixed & Primary

Mineralization/Hornfels+Porphyry 0.16 0.0606 1.69 0.49

Includes 111.00 1081.70 970.70

Mixed & Primary

Mineralization/Hornfels+Porphyry 0.17 0.0667 1.81 0.53

Includes 111.00 524.00 413.00

Mixed & Primary

Mineralization/Hornfels+Porphyry 0.28 0.0112 2.40 0.36

183.00 464.00 281.00

Mixed & Primary

Mineraliztion/Hornfels+Porphyry 0.31 0.0043 2.40 0.35

Includes 183.00 215.00 32.00

Mixed & Primary

Mineralization/Hornfels+Porphyry 0.44 0.0125 3.69 0.54

524.00 1081.70 557.70 Primary Mineralization/Porphyry 0.09 0.1078 1.38 0.66

Includes 716.00 1081.70 365.70 Primary Mineralization/Porphyry 0.07 0.1403 0.66 0.81

Note: *Copper equivalent grades (CuEq) are for comparative purposes only. Mo, Cu and Ag values are uncut and recovery

is assumed to be 100% for the entire drilled length of A23-011. The project is at an early stage of exploration and

conceptual recoveries of Cu 85%, Mo 82%, and Ag 75% are assigned to the CuEq calculations. Conversion of metals to an

equivalent copper grade based on these metal prices is relative to the copper price per unit mass factored by conceptual

recoveries for those metals normalized to the conceptualized copper recovery. The metal equivalencies for each metal

are added to the copper grade. The formula for this is: CuEq % = Cu% + (Mo% * (Mo recovery / Cu recovery) * (Mo $ per

lb / Cu $ per lb) + (Ag g/t * (Ag recovery / Cu recovery) * (Ag $ per oz/ 31.1034768) / (Cu $ per lb* 22.04623)).

*Copper equivalent calculations use metal prices of Cu - US$3.34/lb, Mo - US$18/lb and Ag - US$21.87/oz.

1 Intervals are downhole drilled core lengths. Drilling data to date is insufficient to determine true width of

mineralization. Mo, Cu and Ag values are uncut.

Table 2: A23-011 Diamond drillhole location, depth, orientation and inclination.

Hole Easting Northing Elevation Length Azimuth Inclination

ID M m m Degrees Degrees

A23-011 189,970 8,565,440 2760 1081.70 025 -70

Co-ordinates are in WGS84 Zone 19S

Table 3. Summary of significant drill results for diamond drillholes A23-01 to A23-010. All grades are length-weighted

averages of samples within the interval reported.

Hole From To Interval1 Description

(total) Mo Ag Cueq*

ID m m m % % g/t %

A23-001 22.45 145.80 123.35 Oxidized/Mixed 0.49 0.0036 4.20 0.51

Includes 100.35 145.80 45.45 Enriched 0.64 0.0017 3.40 0.65

100.35 124.30 23.95 Enriched 0.87 0.0024 3.43 0.88

108.65 124.30 15.65 Enriched 1.09 0.0033 3.00 1.11

A23-002 208.00 422.40 214.40 Oxidized/Mixed/Primary 0.35 0.0114 3.95 0.41

Includes 244.00 296.00 52.00 Primary 0.52 0.0131 4.53 0.59

A23-003 38.00 702.30 664.30

Partially leached

/Mixed/Enriched/Primary 0.33 0.0483 3.23 0.58

Includes 132.00 350.00 218.00 Mixed sulphides/Enrichment 0.69 0.0162 5.65 0.77

206.00 350.00 144.00 Enriched 0.75 0.0097 5.87 0.80

258.00 350.00 92.00 Enriched 0.83 0.0071 6.81 0.87

522.00 702.30 180.30 Primary (Moly rich) 0.07 0.1284 0.73 0.74

A23-004 0.00 700.90 700.90 Leached/Mixed/Enriched/Primary 0.18 0.142 2.47 0.92

Includes 110.90 333.00 222.10 Mixed/Enriched/Primary 0.46 0.056 5.88 0.75

110.90 264.00 153.10 Mixed/Enriched 0.53 0.058 7.07 0.83

333.00 421.00 88.00 Primary (Molybdenum rich) 0.05 0.149 0.78 0.83

421.00 502.00 81.00 Primary (Molybdenum rich) 0.12 0.152 0.84 0.91

502.00 700.90 198.90 Primary (Molybdenum rich) 0.02 0.273 0.17 1.44

A23-005 130.00 188.00 58.00 Mixed/Enriched 0.43 0.054 3.38 0.71

188.00 302.00 114.00 Primary 0.14 0.076 1.38 0.54

302.00 472.00 170.00 Primary (Molybdenum rich) 0.1 0.11 1.05 0.67

472.00 693.40 221.40 Primary (Molybdenum rich) 0.03 0.259 0.95 1.38

Table 3 cont. Summary of significant drill results for diamond drillholes A23-01 to A23-010. All grades are length-

weighted averages of samples within the interval reported.

Hole From To Interval1 Description

(total) Mo Ag Cueq*

ID m m m % % g/t %

A23-006 91.00 708.50 617.50 Mixed/Enriched/Primary 0.17 0.148 1.82 0.94

Includes 91.00 127.00 36.00 Mixed/Enriched 0.62 0.031 9.10 0.78

321.00 708.55 387.55 Primary (Molybdenum rich) 0.07 0.205 0.74 1.14

A23-007 0.00 708.25 708.25 Partially Leached/Primary/Hornfels 0.25 0.0137 3.07 0.32

Includes 206.00 406.00 200.00 Primary/Hornfels 0.37 0.003 3.83 0.39

206.00 254.00 48.00 Primary/Hornfels 0.57 0.002 5.33 0.58

272.00 306.00 34.00 Primary/Hornfels 0.48 0.003 6.33 0.50

A23-008 3.10 703.65 700.55 Primary/Hornfels+Porphyry 0.10 0.0852 1.18 0.54

Includes 402.00 703.65 301.65 Primary/Porphyry 0.03 0.1548 0.26 0.84

A23-009 0.40 790.55 790.15 Primary/Hornfels+Breccia+Porphyry 0.27 0.0095 2.39 0.32

Includes 303.00 617.00 314.00 Primary/Hornfels+Breccia+Porphyry 0.37 0.0144 2.86 0.45

561.00 617.00 56.00 Primary/Porphyry + Breccia 0.52 0.0144 3.46 0.60

A23-010 0 1002.55 1002.55 Leached/Mixed/Enriched/Primary 0.20 0.0838 2.19 0.66

Includes 190.00 218.00 28.00 Mixed/Enriched 0.86 0.0015 8.41 0.94

190.00 315.00 125.00 Mixed/Enriched/Primary 0.43 0.0082 4.65 0.51

543.00 625.00 82.00 Primary - Breccia zone 0.37 0.0618 3.51 0.72

543.00 1002.55 459.55 Primary 0.09 0.1754 0.9 1.01

Note: *Copper equivalent grades (CuEq) are for comparative purposes only. Mo, Cu and Ag values are uncut and recovery

is assumed to be 100% for the entire drilled lengths of A23-01 to A23-010. The project is at an early stage of exploration

and conceptual recoveries of Cu 85%, Mo 82%, and Ag 75% are assigned to the CuEq calculations. Conversion of metals

to an equivalent copper grade based on these metal prices is relative to the copper price per unit mass factored by

conceptual recoveries for those metals normalized to the conceptualized copper recovery. The metal equivalencies for

each metal are added to the copper grade. The formula for this is: CuEq % = Cu% + (Mo% * (Mo recovery / Cu recovery) *

(Mo $ per lb / Cu $ per lb) + (Ag g/t * (Ag recovery / Cu recovery) * (Ag $ per oz/ 31.1034768) / (Cu $ per lb* 22.04623)).

*Copper equivalent calculations use metal prices of Cu - US$3.34/lb, Mo - US$18/lb and Ag - US$21.87/oz.

1 Intervals are downhole drilled core lengths. Drilling data to date is insufficient to determine true width of

mineralization. Mo, Cu and Ag values are uncut.

Quality Control and Quality Assurance

DLP Resources Peru S.A.C, a subsidiary of DLP Resources Inc., supervises drilling and carries out sampling of HTW and NTW

core. Logging and sampling are completed at a secured Company facility situated on the project site. Sample intervals are

nominally 1.5 to 2.7m in length. Drill core is cut in half using a rotary diamond blade saw and samples are sealed on site

before transportation to the ALS Peru S.A.C. sample preparation facility in Arequipa by Compan y vehicles and staff.

Prepared samples are sent to Lima by ALS Peru S.A.C. for analysis. ALS Peru S.A.C. is an independent laboratory. Samples

are analyzed for 48 elements using a four -acid digestion and ICP-MS analysis (ME-MS61). In addition, sequential c opper

analyses are done where secondary copper mineralization is observed and reports, soluble copper using sulphuric acid

leach, soluble copper in cyanide leach, residual copper and total copper. ALS meets all requirements of International

Standards ISO/IEC 17025:2005 and ISO 9001:2015 for analytical procedures.

DLP Resources independently monitors quality control and quality assurance (“QA/QC”) through a program that includes

the insertion of blind certified reference materials (standards), blanks and pu lp duplicate samples. The company is not

aware of any drilling, sampling, recovery or other factors that could materially affect the accuracy or reliability of the data

reported from 3.1m to 1081.70m in A23-011.

Aurora Project

Aurora Project is an advanced stage porphyry copper-molybdenum exploration project in the Province of Calca, SE Peru

(Figure 1). The Aurora Project was previously permitted for drilling in 2015 but was never executed. Thirteen historical

drillholes, drilled in 2001 and 2005 totaling 3,900m were drilled over an area of approximately 1000m by 800m, cut

significant intervals of copper and molybdenum mineralization. From logging of the only three remaining holes DDA-01,

DDA-3A and DDA-3 and data now available, it appears that only three of the thirteen holes tested the enriched copper

zone and only one hole drilled deep enough to test the primary copper and molybdenum zone (see DLP Resources Inc.

news release of May 18, 2021).

Salient historic drillhole data of the Aurora Project are:

• 190m @ 0.57% Cu, 0.008% Mo in DDA-1 with a high-grade intercept of 20m @ 1.01% Cu related to a supergene

enrichment zone of secondary chalcocite;

• 142m @ 0.5% Cu, 0.004% Mo in DDA-3;

• 71.7m @ 0.7% Cu, 0.007% Mo in DDA-3A (see historical Focus Ventures Ltd. news release July 11, 2012); and

• One of the historical holes ABC-6 drilled on the edge of the system intersected 78m @ 0.45% Cu and 0.107% Mo

(Figure 2).

A review of the historical drilling indicates that the majority of the thirteen holes were drilled in the leached and partially

leached zones of the porphyry system. Ten of the thirteen holes never fully tested the oxide and secondary enrichment

zone and/or the primary copper zone at depth encountered in DDA-01. Copper-molybdenum mineralization is hosted by

quartz-feldspar porphyries intruded into slates-hornfels and pelitic sandstones belonging to the Ordovician (439 - 463

ma) Sandia Formation.

Figure 1: DLP Project areas in Peru with Aurora Project Shown.

Figure 2: Aurora Project – Simplified geology showing historic drilling and drilling by DLP in 2022-2023 with A23-011 and

A23-012 (in progress) highlighted in red numbering.

Figure 3: Aurora Project – Simplified NW-SE geological section showing DLP drillholes A23-001 to A23-012. Downhole

values for copper and molybdenum are shown as bar graphs for assigned intervals with Cu % on right and Mo ppm on

left of drillhole.

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