(All figures in United States Dollars unless otherwise stated)

The PEA establishes Aurora as a Large-Scale, Long-Life Copper-Molybdenum Asset; Deliberate Phased Development Approach Designed to Maximize Returns on Initial Capital and Preserve Potential Multi-Phase Underground Expansion

Highlights

• Base case after-tax NPV8% of $2,703 M, after-tax IRR of 18.5%, and payback period of 5.2 years from start of production, at long-term commodity price assumptions of $4.90/lb copper, $25.40/lb molybdenum, and $45.30/oz silver.
• At spot prices as of August 26, 2026 ($6.47/lb copper, $33.57/lb molybdenum and $68.50/oz silver), a spot price sensitivity case generates an after-tax NPV8% of $4,812 M, after-tax IRR of 24.9%, and payback period of 3.8 years.
• PEA establishes Aurora as one of the highest-grade molybdenum projects in the world, mining an average molybdenum grade of 0.20% Mo across 15 years of underground mining, peaking at 0.25% in year 10.
• 17.5-year mine-life with 402.9 million tonnes processed at 65,000 tonnes per day with multi-phase expansion potential beyond 17.5 years.
  • a 7-year open pit phase mining 237.3 million tonnes of mineralized material at a 0.95:1 strip ratio
  • a 15-year underground phase mining 165.6 million tonnes of mineralized material, with stockpile processing in parallel.
• Average annual production of 90.5 million pounds payable copper, 37.4 million pounds payable molybdenum and 1.21 million ounces payable silver with peak copper production of 154 million payable pounds in year 3.
• Total payable production of approximately 1,629 million pounds of copper, 673 million pounds of molybdenum and 21.8 million ounces of silver, generating total gross revenue of approximately $26,072 million over the mine life.
• Initial capital cost estimate of $2,377 million, including contingency, with sustaining and underground development capital of approximately $1,160 million and closure costs of approximately $121 million.
• Updated Mineral Resource Estimate contained in PEA establishes a strong foundation, with a combined open pit and out of pit resource:
  • Indicated: 614.84 Mt grading 0.19% Cu, 0.06% Mo, 2.09 g/t Ag (7,497.53 Mlbs Copper Equivalent at 0.55% CuEq)
  • Inferred: 1,118.80 Mt grading 0.18% Cu, 0.07% Mo, 1.95 g/t Ag (14,265.23 Mlbs Copper Equivalent at 0.58% CuEq)

Cranbrook, British Columbia--(Newsfile Corp. - September 1, 2026) - DLP Resources Inc. (TSXV: DLP) (OTCQB: DLPRF) (FSE: J8C) ("DLP" or the "Company") is pleased to announce the results of a Preliminary Economic Assessment ("PEA") for its 100%-owned Aurora Copper-Molybdenum-Silver Project ("Aurora" or the "Project"), located 60 km northeast of Cusco, Peru. The PEA was prepared in accordance with National Instrument 43-101 ("NI 43-101") by Global Resource Engineering Ltd. ("GRE"), Ausenco Engineering Canada ULC ("Ausenco") and SRK Consulting (Canada) Inc. ("SRK"), and incorporates an updated Mineral Resource Estimate ("MRE"). The Company will also be hosting a live webcast regarding the PEA, featuring DLP's CEO Ian Gendall and the Technical Committee on September 1, 2026 at 1:00 pm (Toronto time). Participants can register to attend at the following link:
https://zoom.us/webinar/register/WN_G1PhTuayTEeIomxTV5irOg

"The results of the Aurora PEA confirm what our geological and technical work has long suggested: this is a copper-molybdenum-silver deposit with the scale, grade and production profile to support compelling development pathway. The PEA demonstrates robust cashflows, competitive operating costs, reasonable capital costs and robust financial returns, including an after-tax NPV8% of $2,703 million and an 18.5% IRR with substantial upside leverage to rising copper and molybdenum prices. Importantly, this PEA represents only the first chapter of the Aurora story, reflecting 402.9 million tonnes of mineralized material, or approximately 30% of the MRE, which shows an Indicated resource of 614.84 million tonnes at 0.19% Cu, 0.06% Mo and 2.09 g/t Ag and an Inferred resource of 1,118.80 million tonnes at 0.18% Cu, 0.07% Mo and 1.95 g/t Ag. As such, a significant portion of the MRE has not been included in the PEA, preserving future underground expansion optionality beyond what is contemplated within this initial 17.5-year mine plan. We intend to advance Aurora towards pre-feasibility while simultaneously scoping the underground expansion optionality and look forward to engaging with strategic partners on this multi-phase development program," commented Ian Gendall, CEO of DLP.

Project Overview

The 100%-owned Aurora spans 12,500 hectares in Peru's Cusco province, with easy road access and power infrastructure nearby. On June 22, 2026, DLP announced that the local Parobamba Community, where Aurora is located, approved a six-year extension of the land use and exploration agreement, demonstrating the strong, collaborative relationship DLP has built with the local community and providing the Company with the long-term access and social license to advance the project through its next stages of development.

The PEA represents an initial development case for Aurora, deliberately designed to maximize after-tax returns and capital efficiency on initial invested capital. The PEA mine plan encompasses 402.9 million tonnes of mineralized material, representing approximately 30% of Aurora's MRE, concentrating the initial 17.5-year mine plan on the highest-confidence, highest-value portions of the deposit accessible by open pit and underground mining methods. The resources outside of the mine plan define a clear expansion opportunity. As such, the Company intends to advance an infill and extensional drill program at Aurora to advance resource classification and support incorporation of material outside of the mine plan into subsequent Prefeasibility or Feasibility studies. Management views this PEA as an initial Phase 1, providing a foundation for a long-term, multi-decade mining district, with today's mine plan representing the first of several possible development phases. The PEA establishes Aurora as one of Peru's emerging copper-molybdenum-silver development assets, with a project profile characterized by a long-life, high-value molybdenum production base alongside meaningful copper and silver co-production.

The Company notes the PEA is preliminary in nature and there is no certainty that the PEA will be realized. The PEA includes Inferred Mineral Resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. The Company also notes that a multi-phase underground development scenario has not been evaluated in the current PEA, no economic analysis has been applied to potential additional resources, and there is no certainty that any multi-phase underground expansion would be realized. DLP views the multi-phase underground expansion opportunity as a significant source of longer-term value not captured in the PEA economics and intends to advance dedicated multi-phase underground scoping work as a priority workstream.

Table 1) PEA Economic Summary

Mining Methods

The mine plan consists of two principal mining methods: a conventional truck-and-shovel open pit operation to year 4 of the mine life (including stockpiling mineralized material), followed by underground mining of the higher-grade molybdenum core between years 3 and 17. Underground mineralized material will be processed alongside stockpiled open pit material.

Open Pit Mining (Years -3 to 4)

The open pit mine plan is based on a conventional truck-and-shovel operation producing a total of 237.3 million tonnes of mineralized material at a design throughput of 65,000 tonnes per day. The open pit strip ratio of 0.95:1 (waste:mineralized material) reflects the favorable geometry and continuity of the near-surface mineralized body. The open pit mine plan will see average mined grades of 0.33% copper, 0.01% molybdenum and 3.52 g/t silver.

Underground Mining (Years 3 to 17)

Following completion of open pit mining, operations transition to underground extraction of the higher-grade molybdenum-enriched core of the Aurora deposit. Underground development commences simultaneously with the opening of the open pit mine, using a block cave mining method, with level access established during late open pit years. The underground mine plan will see 165.6 million tonnes mined at an average molybdenum grade of 0.20% Mo, positioning Aurora as a robust, high grade molybdenum project.

Figure 1) Open Pit Mine Production

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Figure 2) Underground Cave Production

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Updated Mineral Resource Estimate

In connection with the PEA, an updated MRE has been completed for the Aurora deposit by Terre Lane of Global Resource Engineering, an independent Qualified Person as defined by NI 43-101. The MRE has an effective date of April 30, 2026. The updated MRE incorporates data from 28 drill holes totaling 22,613.38 metres and reflects revised geological modelling, updated metallurgical recovery assumptions, and the incorporation of recent infill drilling results.

The MRE is classified in accordance with the 2014 CIM Definition Standards on Mineral Resources and Reserves and was estimated in accordance with the CIM 2019 Best Practices Guidelines. The resource has been constrained by an open pit shell (OP domain) or by a conceptual underground extraction envelope (UG domain) demonstrating reasonable prospects for eventual economic extraction.

Table 2) Updated Mineral Resource Estimate (effective April 30, 2026)

QP Disclosure

The geological setting, mineralization, deposit characterization, exploration, drilling, sampling, analytical information, and data verification were prepared under the direction of Hamid Samari, Ph.D., QP, Principal Geologist at GRE. Dr. Samari meets the requirements for a QP as set out in his Certificate of Qualified Person.

Dr. Samari reviewed and verified the data supporting the Mineral Resource Estimate, including the geological and drillhole database, sampling information, analytical data, QA/QC results, and supporting documentation. As part of the data verification, Dr. Samari conducted a site visit to the Aurora Project on June 2-3, 2026, during which he reviewed the project geology, drill core, core logging and sampling procedures, and other relevant geological information. Independent check samples were collected and submitted for laboratory analysis. The copper (Cu), silver (Ag), and molybdenum (Mo) assay results obtained from the independent check samples were compared with the corresponding assay results reported in the project database. The comparison showed reasonable agreement between the two sets of results and provided additional verification of the analytical data supporting the Mineral Resource Estimate. Based on these verification procedures, Dr. Samari considers the data and information used to support the Mineral Resource Estimate to be sufficiently reliable for this purpose. No material limitations on the verification process or material failures to verify the data were identified.

Processing & Metallurgy

The Aurora PEA contemplates a conventional milling and froth flotation process plant designed to treat 65,000 tonnes of mineralized material per day. The process plant is designed to produce a copper concentrate grading approximately 25% Cu and a molybdenum concentrate grading approximately 55% Mo.

Metal recoveries to concentrate average 85.5% for copper, 88.5% for molybdenum, and 74.0% for silver. Silver reports to the copper concentrate as a by-product credit. The recoveries take into account mineralized material from various zones and the blending of various zones to feed the plant. Payable metal assumptions applied in the economic analysis reflect smelter and refinery terms of 96.5% payability for copper and 96.0% payability for molybdenum and silver.

Tailings from the flotation circuit will be filtered and placed in a drystack tailings facility and managed in accordance with applicable Peruvian regulatory requirements, including the standards established under the Environmental Impact Assessment (EIA-d) process overseen by Peru's Ministry of Energy and Mines (MINEM). The Company is evaluating tailings storage facility design options as part of ongoing engineering studies.

Figure 3) Processing Schedule

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Capital & Operating Costs

Initial capital is estimated at $2,377 million over a 3-year construction period, and is based on the costs outlined in Table 3, below:

Table 3) Breakdown of Initial Capital

Sustaining and underground development capital over the life of mine (through year 20) is estimated at $1,160 million, with total closure costs estimated at $121M.

Working capital of $24.7 million in year 1.

Operating costs are estimated at $13.05/t processed based on the costs outlined in Table 4, below.

Table 4) Breakdown of Operating Costs

Life of Mine C1 cash costs are calculated on a co-product basis: $0.90/lb copper; $7.83/lb molybdenum. Stockpiled material costs (during the pre-production period) have been excluded from the C1 cash cost and included in the pre-production capital cost.

Economic Analysis Results

The PEA highlights an after-tax NPV8% of $2,703 million corresponding to an IRR of 18.5% and a 5.2-year payback period. Assumptions, including commodity pricing used as part of the economic analysis is outlined in Table 6 below:

Table 5) Commodity Price Assumptions

Table 6) Sensitivity to Copper and Molybdenum Prices, Capital Cost and Operating Cost

Infrastructure & Site Layout

The site layout incorporates the process plant, tailings and waste management facilities, camp infrastructure, and water management systems within a consolidated footprint designed to support efficiency. Tailings are planned to be managed in a dry stack tailings facility (DSTF) and potential acid generating (PAG) waste rock storage facility (WRSF), utilizing favourable topographic conditions adjacent to the process plant site. The tailings and waste management facilities have been designed and sited with the long-term development potential of the Aurora deposit in mind, and the selected footprint provides a foundation from which future expansion capacity could be developed as the project advances. The Company will continue to refine site layout and infrastructure design as it advances Aurora toward a Pre-Feasibility Study ("PFS").

Figure 4) Site Layout

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Opportunities

The PEA mine plan has been deliberately designed to deliver the optimal after-tax return on initial invested capital. By focusing the first phase of development on the highest-value portions of the Aurora deposit, the Company has structured the mine plan as a compelling, financeable standalone project while simultaneously preserving the potential for future phases to capture the full resource potential of the Aurora deposit.

This disciplined, phased development philosophy is consistent with practices adopted at analogous large-scale porphyry copper-molybdenum development projects. DLP believes this approach at Aurora appropriately sequences capital deployment to maximize shareholder value at each stage of development.

Multi-phase Expansion Potential

Aurora's envisioned mine plan is contemplated as an approximate 30% subset of the Indicated and Inferred MRE. DLP views the resources outside of the mine plan, together with additional exploration targets as the natural foundation for multi-phase underground expansion, which the Company expects to advance through dedicated infill and conversion drilling and scoping studies in parallel with PFS activities. Subject to resource conversion, engineering studies, and regulatory approvals, a multi-phase development scenario has the potential to materially extend Aurora's mine life and increase annual production rates beyond the current Phase 1 PEA.

As illustrated in Figure 5, mineralization at Aurora extends well beyond the boundaries of the Phase 1 mine plan, with the deposit remaining open to the west, east, and at depth. The current MRE boundaries are defined by drilling extent rather than geological limits, and all mineralized zones shown in the section, including lower-grade material at the margins, carry positive economic margins above projected operating costs.

A key feature of Aurora's long-term value proposition is the infrastructure leverage inherent in a phased development approach. The 65,000 tonne-per-day processing facility constructed under the Phase 1 capital program represents the single largest infrastructure investment required to bring the project into production. Advancing a potential Phase 2 underground expansion would require a materially lower incremental capital outlay, concentrated primarily on underground development and a new dry-stack tailings facility, while utilizing the processing infrastructure already in place. DLP intends to advance an infill and extensional drilling program to further define Aurora's resource base and support economic evaluation of a future Phase 2 expansion, with Phase 2 scoping work expected to advance in parallel with ongoing Phase 1 development studies.

Figure 5) Aurora Deposit Cross Section - NSR/tonne ($)

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A NI 43-101 Technical Report will be filed on SEDAR+ within 45 days of this news release.

Next Steps

The positive PEA results provide a strong technical and economic foundation for Aurora's advancement. DLP Resources intends to take the following steps:

• Continue engagement with potential strategic partners, major mining companies, and financial institutions regarding project-level investment and financing structures commensurate with Aurora's scale and economics.
• Initiate PFS planning, including infill and geotechnical drilling, metallurgical testwork, and engineering trade-off studies to advance the project toward a PFS-level cost estimate.
• Advance dedicated multi-phase underground expansion scoping, including infill and conversion drilling on resources currently outside the envisioned mine plan, conceptual underground engineering, and evaluation of development sequencing and capital structuring for a multi-phase program. Further studies for a second dry stack tailings location for Phase 2.
• Advance environmental baseline programs and initiate environmental assessment readiness planning.
• Continue respectful engagement with local communities, governments, and stakeholders as Aurora advances.

Qualified Persons

Mr. Gendall, CEO & President of the company is the qualified person as defined by National Instrument 43-101. Mr. Gendall has reviewed and approved the technical contents of this news release.

The following people are intendent qualified persons for the technical report and have reviewed and verified the disclosure in this news release against the information in the technical report they are responsible for:

• The geological setting, mineralization, deposit characterization, exploration, drilling, sampling, analytical information, and data verification were prepared under the direction of Hamid Samari, Ph.D., QP, Principal Geologist at GRE. Dr. Samari meets the requirements for a QP as set out in his Certificate of Qualified Person.

• The Mineral Resource Estimate, conceptual design of the open pit mine, waste rock storage facility, stockpile, primary crusher and open-pit mine equipment shop and related facilities, and economic modeling were prepared under the direction of Terre Lane, Principal Mine Engineer at GRE. Ms. Lane meets the requirements for a QP as set out in her Certificate of Qualified Person.

• The process testwork results were interpreted and a process design prepared under the direction of Todd Harvey, President and Director of Process Engineering at GRE. Dr. Harvey meets the requirements for a QP as set out in his Certificate of Qualified Person.

• The mine water balance, water treatment plant, remediation, and closure were prepared under the direction of Larry Breckenridge, Principal Environmental Engineer at GRE. Mr. Breckenridge meets the requirements for a QP as set out in his Certificate of Qualified Person.

• The conceptual design of the underground mine, block cave production plan, and estimation of underground mining capital and operating cost were prepared under the direction of Josh Parsons, Senior Consultant at SRK. Mr. Parsons meets the requirement for a QP as set out in his Certificate of Qualified Person.

• The underground geotechnical and block caving assessments were prepared under the direction of Jarek Jakubec, Corporate Consultant at SRK. Mr. Jakubec meets the requirement for a QP as set out in his Certificate of Qualified Person.

• The conceptual underground infrastructure design was prepared under the direction of Carl Kottmeier, Principal Consultant at SRK. Mr. Kottmeier meets the requirement for a QP as set out in his Certificate of Qualified Person.

• The conceptual underground ventilation design was prepared under the direction of Brian Prosser, Principal Consultant at SRK. Mr. Prosser meets the requirement for a QP as set out in his Certificate of Qualified Person.

• The conceptual design of the dry stack tailings facility, filter plant, general site development, access roads and camp were prepared under the direction of Scott Elfen, Global Technical Leader - Mine Waste Solutions at Ausenco. Mr. Elfen meets the requirements for a QP as set out in his Certificate of Qualified Person.

• The conceptual design of the power distribution on site was prepared under the direction of Kevin Murray, Principal Process Engineer at Ausenco. Mr. Murray meets the requirements for a QP as set out in his Certificate of Qualified Person.

Company Conference Call

The Company will host a webinar to discuss the results of the PEA at 1:00 PM ET / 10:00 AM Pacific Time on Tuesday, September 1, 2026. To join the webinar, please register at:
https://zoom.us/webinar/register/WN_G1PhTuayTEeIomxTV5irOg

About DLP Resources Inc.

DLP Resources Inc. is a copper-focused development company advancing two 100%-owned projects in southern Peru: Aurora and Esperanza.

Aurora is a large-scale porphyry copper-molybdenum-silver deposit containing a combined open pit and underground indicated resource of 614.84 million tonnes at 0.19% Cu, 0.06% Mo and 2.09 g/t Ag, and an inferred resource of 1,118.80 million tonnes at 0.18% Cu, 0.07% Mo and 1.95 g/t Ag. An independent Preliminary Economic Assessment completed in September 2026 established an after-tax NPV8% of US$2,703 million and an IRR of 18.5%, based on a 17.5-year mine life utilizing open pit and underground mining methods. Aurora's robust production profile contemplates payable production of 90.5 million pounds per year of copper, 37.4 million pounds per year of molybdenum and 1.21 million ounces per year of silver.

Esperanza is an emerging district-scale copper-gold discovery located 35km from Cerro Verde, one of the world's largest copper mines. A 5.0km × 2.5km magnetic anomaly is supported by high-grade surface and trench sampling results, with a maiden drill programme planned for Q3 2026.

DLP is listed on the TSX-V (DLP), on the OTCQB (DLPRF), and on the FSE (J8C).

FOR FURTHER INFORMATION, PLEASE CONTACT:

Cautionary Note Regarding the PEA and Forward-Looking Information

The results of the PEA are preliminary in nature. The PEA is based on a Mineral Resource Estimate that has not been upgraded to a Mineral Reserve and the economic analysis does not have as high a level of certainty as a Pre-Feasibility Study or Feasibility Study. The PEA includes Inferred Mineral Resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be classified as Mineral Reserves. There is no certainty that the PEA will be realized. Actual capital costs, operating costs, production rates, metallurgical recoveries, and project economics may differ materially from those set out in the PEA. The PEA is subject to various risks and uncertainties, including those related to commodity prices, exchange rates, capital and operating costs, permitting timelines, and the availability of financing.

This news release contains forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, statements regarding the results of the PEA, including projected NPV, IRR, payback period, capital and operating costs, production rates, mine life, grades, metallurgical recoveries, and revenue; the characterisation of the PEA as representing Phase 1 of a long-term, multi-decade mining district with multi-phase underground expansion potential; the Company's intention to advance an infill and extensional drill program to advance resource classification and support incorporation of material outside the mine plan into subsequent studies; the Company's plans to advance Aurora toward a PFS, including infill and geotechnical drilling, metallurgical testwork, and engineering trade-off studies; plans to advance dedicated multi-phase underground expansion scoping, including infill and conversion drilling, conceptual underground engineering, and evaluation of development sequencing; the potential for multi-phase underground expansion to materially extend Aurora's mine life and increase annual production rates beyond the PEA; plans to advance environmental baseline programs and initiate environmental assessment readiness planning; the Company's intention to continue engagement with local communities, governments, and stakeholders; expectations regarding potential strategic partnerships, major mining companies, and financial institutions regarding project-level investment and financing; the Company's plans to continue to refine site layout and infrastructure design as it advances toward a Pre-Feasibility Study; and the timing for filing of the NI 43-101 Technical Report on SEDAR+.

Forward-looking information is based on various assumptions, including the following material assumptions: long-term commodity prices of US$4.90/lb copper, US$25.40/lb molybdenum, and US$45.30/oz silver; achievement of estimated metallurgical recoveries of 85.5% for copper, 88.5% for molybdenum, and 74% for silver; achievement of a sustained processing rate of 65,000 tonnes per day; open pit and underground mine designs, production schedules, and extraction methods as described in the PEA; capital and operating cost estimates being achieved substantially as described; the continued availability of the required workforce, equipment, and services necessary to advance and operate the Project; the ability to obtain all necessary permits and regulatory approvals on a timely basis; the maintenance of political stability and a favourable regulatory and fiscal environment in Peru; the six-year land use and exploration agreement with the Parobamba Community remaining in good standing and being renewed or extended as required; the ability to secure financing for the Project on acceptable terms; the successful conversion of Inferred Mineral Resources to higher-confidence categories through infill drilling; and continued favourable geotechnical conditions supporting the planned block cave mining method.

Forward-looking information is subject to a number of risks and uncertainties, many of which are beyond the Company's control. Actual results, performance, or achievements could differ materially from those projected in the forward-looking information as a result of factors including, but not limited to: changes in copper, molybdenum, and silver prices; foreign exchange fluctuations between the U.S. dollar, Canadian dollar, and Peruvian sol; actual metallurgical performance differing from test results at commercial scale; capital and operating cost overruns; geotechnical and hydrological conditions, including risks related to the block cave mining method and production ramp-up uncertainty; the risk that infill drilling does not support resource conversion from Inferred to Indicated or Measured categories; delays in permitting, environmental assessment, or regulatory approvals; the availability of financing on acceptable terms; labour availability and costs; water treatment and tailings management costs exceeding estimates; the risk that the Parobamba Community agreement is not renewed beyond its current term; and political or regulatory changes in Peru, including changes in mining law, fiscal regime, consulta previa processes, and general political risk.

The Company does not undertake any obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws. Readers are cautioned not to place undue reliance on forward-looking information.

Non-IFRS Measures

This news release refers to certain financial performance measures that are not defined or recognized under International Financial Reporting Standards ("IFRS"), including: after-tax and pre-tax net present value ("NPV") at various discount rates; internal rate of return ("IRR"); payback period from first production; operating costs per tonne milled (including mining, processing, general and administrative, and off-site/refining costs); initial capital cost; sustaining and underground development capital; closure costs; total life-of-mine capital; and total life-of-mine gross revenue. These non-IFRS measures are presented because the Company and its management believe they provide useful information regarding the economic potential of the Aurora Project as contemplated in the PEA and are commonly used by the mining industry and investors to evaluate development-stage projects.

These measures do not have any standardized meaning prescribed under IFRS and may not be comparable to similar measures presented by other companies. They should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. As the Aurora Project is in the development stage, the Company does not currently have IFRS financial measures against which these non-IFRS measures can be reconciled.

For reference, the following definitions apply: NPV is calculated by discounting projected after-tax (or pre-tax, as applicable) free cash flows at the stated discount rate over the life of the mine plan. IRR is the discount rate at which the NPV of the project's after-tax free cash flows equals zero. Payback period is the estimated time to recover the initial capital investment from after-tax operating cash flows. Operating costs per tonne milled represent estimated total operating expenditures divided by total mineralized material tonnes milled over the applicable period or phase. Initial capital cost and sustaining and underground development capital represent the estimated capital expenditures required to construct and operate the project as contemplated in the PEA. Total life-of-mine gross revenue represents the estimated undiscounted gross value of payable metals produced over the Phase 1 mine life, calculated using the commodity price assumptions set out in the PEA, before deduction of smelting, refining, transportation, or royalty costs. All non-IFRS measures presented herein are based on the estimates, assumptions, and inputs described in the PEA and the NI 43-101 Technical Report to be filed on SEDAR+ within 45 days of this news release. Readers are cautioned not to place undue reliance on these measures. See also "Cautionary Note Regarding the PEA and Forward-Looking Information" above.

Additional information relating to the Company can be obtained under the Company's profile on SEDAR+ at www.sedarplus.ca, and on the Company's website at www.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.

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