DLP Resources Confirms Extension of Copper, Silver and Molybdenum Mineralization to NE of Aurora Drilling with Values of up to 2.25% Cu and 195g/t Ag and 182ppm Mo in Rock Samples

Cranbrook, British Columbia--(Newsfile Corp. - February 8, 2024) - DLP Resources Inc. (TSXV: DLP) (OTCQB: DLPRF) ("DLP" or the "Company") announces receipt of complete rock sampling results for the area immediately NE of the current drilling at the Aurora porphyry copper-molybdenum project in southern Peru (Figure 1).

Results for 40 rock samples taken to the NE of the DLP drilling identified an area of anomalous Cu, Mo and Ag extending over approximately 700m x 500m (See Figures 2, 3 and 4). This area also overlies a similar magnetic anomaly that underlies the main porphyry area.

Highlights

1. Rock chip sample 1062 returned 2.25% Cu and 195g/t Ag. This sample was taken from a moderately silicified and brecciated hornfels with mineralization consisting of pyrite-chalcopyrite-covellite-chalcocite and copper oxides. Sampling was done over a surface area of 10m x 10m.

2. Further rock chip samples with highly anomalous Cu, Ag and/or Mo results included:

   • Sample 1084 - 1.5150% Cu, 5.53g/t Ag and 1.01ppm Mo

   • Sample 1060 - 0.2680% Cu, 2.09g/t Ag and 74.3ppm Mo

   • Sample 1065 - 0.0527% Cu, 2.28g/t Ag and 137ppm Mo

   • Sample 1067 - 0.0095% Cu, 0.79g/t Ag and 53.1ppm Mo

   • Sample 1074 - 0.3440% Cu, 5.56g/t Ag and 1.78ppm Mo

   • Sample 1075 - 0.1300% Cu, 0.13g/t Ag and 4.86ppm Mo

   • Sample 1078 - 0.1880% Cu, 4.77g/t Ag and 5.59ppm Mo

   • Sample 1086 - 0.1205% Cu, 4.61g/t Ag and 1.23ppm Mo

   • Sample 1099 - 0.0077% Cu, 0.29g/t Ag and 182ppm Mo

See Table 1 for the full set of results for the rock chip samples.

Mr. Gendall, President and CEO, commented: "We are very encouraged with the results from rock sampling to the NE of the current drilling of 2023. Anomalous Cu, Mo and Ag in rocks has identified an extension of at least 700m x 500m to the NE and SE which we will expand drilling into in 2024."

Table 1. Summary of Rock Chip Results for the NE Extension of the Aurora Project.

Quality Control and Quality Assurance

DLP Resources Peru S.A.C, a subsidiary of DLP Resources Inc., supervises sampling and carries out surface sampling and mapping of outcrop at the Aurora project. Rock chip sampling was done within a maximum area of 25m x 25m and descriptions were carried out by a geologist. Samples are bagged and sealed on site before transportation to the ALS Peru S.A.C. sample preparation facility in Arequipa by Company vehicles and staff. Rocks are crushed with 70% passing <2mm. Sample is split with riffle splitter and 250g pulverized to 85% less than 75um. 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 51 elements using aqua regia digestion and analyzed by ICP-MS + ICPAES analysis (ME-MS41). Overlimit samples for copper and silver were re-analysed by four-acid digestion and ICP-AES (ME-OG62). 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 pulp duplicate samples.

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.

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https://images.newsfilecorp.com/files/6456/197211_06d3dfc5e4f409f0_001full.jpg

Figure 2: Aurora Project - Magnetic analytic signal data with drillholes shown and anomalous copper in rock samples in NE sector.

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https://images.newsfilecorp.com/files/6456/197211_06d3dfc5e4f409f0_002full.jpg

Figure 3: Aurora Project - Magnetic analytic signal data with drillholes shown and anomalous molybdenum in rock samples in NE sector.

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https://images.newsfilecorp.com/files/6456/197211_06d3dfc5e4f409f0_003full.jpg

Figure 4: Aurora Project - Magnetic analytic signal data with drillholes shown and anomalous silver in rock samples in NE sector.

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https://images.newsfilecorp.com/files/6456/197211_06d3dfc5e4f409f0_004full.jpg

Qualified Person

David L. Pighin, consulting geologist and co-founder of DLP Resources, is the qualified person of the Company as defined by National Instrument 43-101. Mr. Pighin has reviewed and approved the technical contents of this news release.

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, Office & Land Manager/Corporate Secretary
Maxwell Reinhart, Investor Relations
Telephone: 250-426-7808
Email: iangendall@dlpresourcesinc.com
Email: jimstypula@dlpresourcesinc.com
Email: robinsudo@dlpresourcesinc.com
Email: maxreinhart@dlpresourcesinc.com

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 plans, estimates and forecasts and statements as to management's expectations and intentions with respect to drilling on the Aurora Project in Peru.

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 drill results expected from the Aurora Project in Peru.

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 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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