Cranbrook, British Columbia--(Newsfile Corp. - April 25, 2024) - DLP Resources Inc. (TSXV: DLP) (OTCQB: DLPRF) ("DLP" or the "Company") announces receipt of the second phase of rock sampling results from the Esperanza porphyry copper-molybdenum project immediately south of the Chapi Mine in Southern Peru (Figure 1).

Results for the additional 53 rock samples taken in the initial reconnaissance sampling and mapping of the northwestern part of the project have returned highly anomalous copper, molybdenum, cobalt and zinc in mapped intrusive stocks and polymictic breccias within the overlying volcanics (Figures 2, 3, 4, 5 and 6).

Highlights

1. Fifteen of the fifty-three rock chip samples returned values between 0.3% Cu and 3.46% Cu (Table 1 and Figure 2). These samples were taken from outcropping quartz diorite and polymictic breccias with visible copper-oxides, iron oxides and tourmaline in fractures.

2. Rock chip samples with high copper grades included:

   • Sample 1208 - 0.69% Cu, 130.50ppm Mo, 7930ppm Zn and 42.30ppm Co.

   • Sample 1226 - 1.84% Cu, 1.38ppm Mo, 1115ppm Zn and 42.50ppm Co.

   • Sample 1227 - 1.71% Cu, 5.56ppm Mo, 2490ppm Zn and 176.50ppm Co.

   • Sample 1229 - 3.46% Cu, 16.15ppm Mo, 1480ppm Zn and 185ppm Co.

   • Sample 1231 - 1.26% Cu, 2.43ppm Mo, 1050ppm Zn and 39.60ppm Co.

   • Sample 1232 - 0.70% Cu, 3.75ppm Mo, 487ppm Zn and 22.50ppm Co.

   • Sample 1237 - 1.54% Cu, 6.34ppm Mo, 774ppm Zn and 57.20ppm Co.

   • Sample 1240 - 0.82%Cu, 4.10ppm Mo, 410ppm Zn and 17.10ppm Co.

See Table 1 for the anomalous set of results for the second phase of rock chip samples and Table 2 for the first phase of anomalous results reported on March 13, 2024 (see DLP Resources Inc., news release of March 13, 2024).

Mr. Gendall, President and CEO commented: "With two phases of rock sampling and mapping completed on the Esperanza project, an area of 3.5km x 1.5km has now been identified with anomalous copper and molybdenum in rock samples. These anomalous copper-molybdenum values coupled with other porphyry copper indicators are very encouraging for locating a mineralized system at depth in this porphyry copper belt immediately south of the Chapi copper mine."

Table 1. Summary of Select Rock Chip Results for the Esperanza Porphyry Cu-Mo Project - Phase 2.

Table 2. Summary of Select Rock Chip Results for the Esperanza Porphyry Cu-Mo Project - Phase 1.

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 Esperanza project. Rock chip sampling was done within a maximum area of 2m x 2m 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 48 elements using a four-acid digestion and ICP-MS analysis (ME-MS61). Overlimit samples for copper and silver were re-analysed by four-acid digestion and ICP-AES (ME-OG62). In addition, sequential copper analyses are done 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 certified reference materials.

Esperanza Project

The Esperanza Cu-Mo Project is an early-stage exploration project in Southern Peru consisting of 4,600 Ha of claims which are 100% owned by DLP. Esperanza is located ~35 km SW of the Cerro Verde Mine in Arequipa and immediately south of the Chapi Copper Mine.

Copper-molybdenum mineralization was initially observed in an early reconnaissance program undertaken in 2022. Subsequently we have completed a satellite alteration mapping program over the project and identified alteration consistent with porphyry copper-molybdenum systems. Follow-up of alteration and subsequent sampling and mapping commenced in early 2024.

Figure 1: Esperanza Project Location

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Figure 2: Esperanza Project -Anomalous copper, molybdenum, zinc and cobalt in rock samples.

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Figure 3: Esperanza Project - Simplified geology with anomalous copper in rock samples.

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Figure 4: Esperanza Project - Simplified geology with anomalous molybdenum in rock samples.

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Figure 5: Esperanza Project - Simplified geology with anomalous zinc in rock samples.

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Figure 6: Esperanza Project - Simplified geology with anomalous cobalt in rock samples.

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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: [email protected]
Email: [email protected]
Email: [email protected]
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 plans, estimates and forecasts and statements as to management's expectations and intentions with respect to further sampling, mapping and advancement of the Esperanza 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 rock chip results expected from the Esperanza 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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