Awalé Announces New Gold Discovery on the Odienné Project

Awalé Announces New Gold Discovery on the Odienné Project

Awalé Resources Limited (TSXV: ARIC) ("Awalé" or the "Company") is pleased to announce a new gold-copper discovery at the BBM Target within the Odienné Project in Côte d'Ivoire. BBM is a significant new greenfield discovery for the Company and has excellent scope for rapid expansion. In addition to the new discovery, further significant results with visible gold have been returned for the Charger Target and new mineralization from the first two scout holes at the Lando Target, which lies 10km NW of the new BBM discovery and is associated with the same mineralized corridor (Figures 1 and 2).

BBM Discovery Highlights

  • Hole OEDD-59: 44m at 1.1 g/t Au and 0.2% Cu
    • Including 32m @ 1.5 g/t Au, 0.3 % Cu and 1.1 g/t Ag (2.12 g/t Au Equivalent) from 68m
    • Including 3m @ 5.2 g/t Au, 0.3% Cu and 1.5 g/t Ag from 77m
  • Hole OEDD-61: 51.9m @ 0.5 g/t Au, 0.27% Cu and 1.5 g/t Ag (0.9 g/t Au Equivalent) from 25m
  • Hole OEDD-62 (50m step back from OEDD-59): 18.25m at 1.8 g/t Au, 0.3% Cu and 1.4 g/t Ag (2.4 g/t Au Equivalent) from 156m
    • Including 2m at 5.8 g/t Au, 0.5% Cu and 2.3 g/t Ag.

Four holes for 644m were drilled at BBM on three sections covering a 910m strike of one of the higher tenor Au/Cu geochemical anomalies within an open 8km long geochemical +20ppb gold in termitaria trend. All holes intercepted mineralization (Figures 3 and 4). The broad gold and copper mineralization and alteration are controlled by a shear zone that is proximal to an intrusive/sedimentary contact that can be followed along strike for rapid expansion in future drilling.

Charger Highlights

  • Hole OEDD-53 (50m step back from previously reported OEDD-45): 32m @ 1.5g/t Au and 1.5 g/t Ag from 215m downhole
    • Including 3m @ 5.2g/t Au from 77m
  • Hole OEDD-52: 4m at 1.1g/t Au from 39m and 4m at 1.1 g/t Au from 72m

The final six holes for 940m at Charger (Figures 5 and 6) were drilled to follow up on previously reported mineralization and to identify and validate a remodeled structural framework for gold mineralization at this target. This new model opens volume potential at Charger. Hole OEDD-53 confirmed the down dip continuity of breccia mineralization, while the mineralization reported for OEDD-52 is significant as it proves the presence of NE trending mineralization independent of the previously targeted NW orientations. This NE trend as a significant fluid pathway opens the scope for more high-grade mineralization at Charger. Newly planned drilling now underway will test this revised framework.

LINK TO FIGURES

Andrew Chubb, CEO of Awale Resources commented today:

"The BBM discovery is a significant milestone for Awalé - BBM is a blind greenfield discovery with no previous exploration and has been developed by Awalé from start to finish, and is a credit to the team and the exploration methods we have developed for the project. We see huge potential to rapidly advance this target with its 8km of current strike potential. Now that we have clearly delineated this major domain boundary, we can potentially find new targets between BBM and Lando while we continue to develop these targets. Initial drilling at Lando is encouraging and warrants further systematic drilling at this target. Further to this, the final holes drilled at Charger have opened a new mineralized orientation now being targeted in the current drill program, launched just before Christmas.

These results cap off a year of significant milestone achievements for Awalé where we have now made 3 significant discoveries on the Odienné project in 2023 - bringing us to 4 discoveries in total, a massive achievement for the Awalé team. Beyond this, we have also made important changes at the board and management level and brought a significant recapitalization of the company through Orecap taking a 15% stake and Newmont recent increasing theirs to 15.45% , all setting the company on a strong path for growth in 2024."

Geological Background

Lando - Shallow mineralization intercepted in the first two scout holes at Lando is highly encouraging. Lando is 10km NW of BBM, and near surface Cu-Au-Ag mineralization of a similar style was intercepted along the same structural corridor (Figure 2). Table 2 below shows the significant intercepts from these two drill holes. Further drilling is planned at Lando as the initial program here was cut short by the 2023 wet season.

The two maiden drill holes were completed for 249m, targeting a significant NNW trending 4km long by 1.5km wide gold and copper soil geochemical footprint with point highs of 921ppb Au and 0.2% Cu, which aligned with coincident Induced Polarization anomalies (see Company news releases dated August 23 2022 and November 28 2022). These holes targeted surface rock chip sampling and artisanal gold workings consisting of quartz breccias with iron oxide fill (rock chip samples up to 4.8 g/t Au)*. Host rocks are basalts exhibiting high strain and altered to chlorite, silica, epidote with disseminated sulphide and stringer veining up to 3.0 g/t Au*. Drilling intercepted significant sulphide mineralization with pyrite, chalcopyrite and molybdenite, the quartz breccias seen in surface artisanal workings were not intercepted (Figure 5). Significant Cu +/- Au mineralization was intercepted.

Table 2: Lando Significant Intercepts

Hole IDFrom (m)To (m)Length (m)Hole Depth (m)Au (g/t)Ag (g/t)Cu %Mo (ppm)EastingNorthingRLAzimuth
OEDD004621.84725.21300.1671.4060.1363648,7251,052,48955740
OEDD0047066661190.1292.1760.25113648717105258454050

 

* Rock chip sampling is selective and not necessarily representative of the overall grade of mineralization for these prospects. Significant intercepts for Lando were calculated using a 500ppm Cu trigger value.

BBM - The BBM target is on a secondary structure parallel to a major domain boundary or 'belt basin margin' (Figure 2). Silica alteration and sulphide mineralization were observed in all holes within a significant shear zone at an intrusive/sedimentary contact. The shear occurs at a contact between intrusive and sedimentary rocks, with granodiorite in the hanging wall and siltstones and mudstones in the footwall, strain intensity increases significantly as the drill holes progressed toward this targeted contact. Sulphides observed include pyrite, pyrrhotite, chalcopyrite and molybdenite. Pyrrhotite development appears to be dominantly manifest in the hanging wall and footwall of the main mineralized zones. Further to this infill and extension, geochemistry was completed at BBM and extended the >22ppb Au in termitaria footprint to 8km. Hematite alteration of K feldspar has also been observed in potassic alteration zones, consistent with other mineralization at Odienné. The strong silica alteration appears to overprint this phase in these initial holes. True widths of mineralization are at least 30m in hole OEDD-59. Future drilling is designed to delineate the higher-grade shoots that are expected to occur within this structurally controlled mineralization.

Table 1: Significant intercepts for all drilling at BBM

Hole IDFrom (m)To (m)Length (m)Hole Depth (m)Au (g/t)Ag (g/t)Cu %Mo (ppm)Au Eq.*EastingNorthingRLAzimuth
OEDD00595910344.01791.20.90.212321.7656,0991,047,97145436
  Including59.0064.005.010.10.0222.21.0
  Including68.00100.0032.01.51.10.31297.02.1
  Including77.0080.003.05.21.50.34395.96.0
OEDD006058.2162.854.61220.50.60.17130.80.9656,3701,047,68346445
OEDD00611.503.001.51550.72.90.036.40.7655,6301,048,20645525
OEDD006125.0075.9050.90.51.50.2716.20.9
OEDD0061116.00117.101.120.70.041.72.0
OEDD0062134.70152.9018.21880.60.60.17193.91.0656,0751,047,93845337
OEDD0062156.75175.0018.21.81.30.31214.82.4
  Including168.75170.752.05.82.30.48334.36.7

 

* Au Equivalent g/t calculated using following prices: Au of US$1,810/oz, Cu of US$3.53/lb, Ag of US$20.1/oz and Mo of US$40,000/t (average closing price since 2019). Using the following formula: Au+0.000134Cu+0.011Ag+0.0008Mo. Significant intercepts in the table above are calculated with a 0.5 g/t Au trigger and included 3m of internal waste - with the exception of the broader 44m interval reported for OEDD-59 which uses a 0.2 g/t trigger but carries >0.5 g/t as an included interval with 3m waste. Au and Ag rounded to two significant figures, copper to three.

Charger Target

Results have been returned for all 11 drill holes at Charger for 1715.5m of drilling. Drilling was planned as follow-up to previously reported drill holes, OERC-89 and OERC-132. Previous announcements discussed two particular follow-up holes (see Company news release dated 21 August 2023) OEDD-44 and OEDD-45, which intercepted visible gold and hole OEDD-45 returned 65m of downhole mineralization, which included 12m at 4.9 g/t Au, 12m at 1.3 g/t Au and 21m at 1.3 g/t Au. Hole OEDD-53 reported in this release has intercepted visible gold and 32m at 1.5 g/t gold, the same breccias as OEDD-45, confirming down dip continuity of this mineralization. The previous drilling has targeted intrusive-hosted sulphide mineralization underlying gossans and new artisanal workings - this mineralization has now been confirmed in two lodes. Importantly this phase of drilling began to target a new potentially mineralized orientation oblique to the WNW trends. OEDD-52 targeted one of the larger interpreted structures with this orientation and intercepted a mineralized sheared diorite at the contact with overlying volcanics - this hole has returned 4m at 1.1 g/t Au and is particularly significant showing that this NE orientation is mineralized. This new orientation and the potential of confluence between the NE and WNW trends are being tested in the current drilling (see Company news release dated 27 December 2023). A full table of significant intercepts is included below.

Hole IDFrom (m)To (m)Length (m)Hole Depth (m)Au (g/t)Ag (g/t)Cu (ppm)Mo (ppm)EastingNorthingRLAzi.
OEDD003850.0054.004.00571.120.48173.85.4647790.91032306468292
OEDD004040.0041.001.001350.810.000.00.0647754.9103224947218
OEDD00440.008.008.002330.40.52083.3647620.6103208147313
OEDD0044103.00104.001.001.670.69145.51.4
OEDD0044109.00110.001.000.650.77129.81.4
OEDD0044170.00176.006.000.521.01186.61.4
OEDD0044183.00187.354.352.150.6092.11.6
OEDD0044194.00195.001.000.940.3745.84.5
OEDD0044205.00207.002.002.030.4774.91.8
OEDD004589.00101.0012.002124.930.3661.21.7647686.2103218347613
  Including89.0097.508.505.500.3058.61.5
  and99.00100.001.006.020.6058.91.9
OEDD0045116.00127.0011.001.500.83388.41.5
OEDD0045133.00154.0021.001.321.13427.91.4
OEDD0045211.00212.001.000.920.1169.12.9
OEDD004862.0063.001.00980.750.2381.21.4647630.8103224747713
OEDD004957.0059.002.00801.980.35213.52.5647551.7103220447817
OEDD0050212.29215.503.212330.561.92988.51.4647529.9103212647616
OEDD005113.0014.001.00950.670.59196.74.5647828103225547013
OEDD005123.7526.002.250.560.67310.652.1
OEDD005239.0043.124.121521.100.7483.41.0647677.81032407479155
OEDD005272.0076.004.001.070.2384.21.4
OEDD0053136.50137.501.002780.520.2788.42.2647641.6103213947513
OEDD0053168.50173.505.000.880.55212.51.5
OEDD0053188.50189.501.002.180.3094.61.3
OEDD0053215.50252.5037.001.420.55167.31.3
  Including244.50248.504.005.140.61116.51.4
OEDD0053266.50267.501.000.750.49318.41.3
OERC008124.0025.001.00640.560.000.00.0647755.21032147471292
OERC008131.0032.001.000.520.000.00.0
OERC008215.0018.003.00720.530.000.00.0647726.91032158472292
OERC008269.0072.003.000.520.000.00.0
OERC00830.001.001.00560.580.000.00.0647694.81032172473293
OERC008426.0027.001.00720.820.000.00.0647666.81032183474293
OERC008439.0041.002.000.750.000.00.0
OERC008461.0062.001.000.830.000.00.0
OERC00866.007.001.00601.570.000.00.0647607.31032208476293
OERC008733.0037.004.00600.630.000.00.0647579.11032219477293
OERC008745.0047.002.001.300.000.00.0
OERC008753.0054.001.000.720.000.00.0
OERC008842.0043.001.00662.460.000.00.0647732.31032329471292
OERC00892.003.001.00601.120.000.00.0647789.51032304468292
OERC008914.0034.0020.002.7317.61767.24.3
  Including14.0018.004.005.898.00560.71.9
  and28.0033.005.005.5359.332358.96.1
OERC008938.0039.001.000.930.000.00.0
OERC008950.0051.001.002.280.000.00.0
OERC00914.0018.0014.001200.830.000.00.0647844.61032281467292
OERC009263.0064.001.00750.610.000.00.0647667.31032357476112
OERC00940.002.002.00600.660.000.00.0647526.11032069473292
OERC00950.004.004.00700.610.000.00.0647554.31032058472292
OERC00960.004.004.00690.580.000.00.0647582.21032047472292
OERC009617.0018.001.002.070.000.00.0
OERC00970.003.003.00700.610.000.00.0647610.11032036471292
OERC00980.001.001.00610.670.000.00.0647637.91032025470292
OERC011622.0023.001.00800.520.000.00.0647851.51032401474180
OERC011647.0048.001.002.350.000.00.0
OERC01233.004.001.00840.690.000.00.0647881.51032266466292
OERC012363.0065.002.000.950.000.00.0
OERC012451.0054.003.001000.590.000.00.0647780.91032340469198
OERC01313.0012.009.00620.831.79480.61.2647705.5103225947315
OERC013118.0021.003.000.6811.592603.22.2
OERC013123.0025.002.000.563.49636.81.8
OERC013131.0034.003.000.8113.05196.72.2
OERC013136.0043.007.000.518.88215.51.9
OERC013144.0049.005.000.525.58154.52.2
OERC013265.0066.001.001380.880.2569.32.0647695.7103222147315
OERC013274.00106.0032.002.956.601714.62.5
  Including74.0083.009.006.5517.404000.63.4
OERC0132114.00115.001.001.620.1496.86.2
OERC014368.0071.003.001122.990.69129.45.2647640.5103214047515
  Including69.0070.001.008.181.18191.53.8
OERC014380.0083.003.000.970.44194.33.5
OERC0144*8.0012.004.001020.570.78151.00.4647626103208047315
OERC014499.00101.002.000.551.00105.613.3
OERC01450.001.001.001201.170.28181.96.4647748.5103219647315

 

* Hole not drilled to depth, redrilled from surface with OEDD-44

The Awalé-Newmont JV - 'Odienné Project JV'

The Odienné Project JV covers one permit and one application within the greater Odienné Copper-Gold Project in the Northwest of Côte d'Ivoire, and is subject to an earn-in agreement with Newmont Ventures Limited ("Newmont"); see company news release dated May 31 2022 through which Newmont retains the option to earn-in to a minimum of 65% interest, from Awalé, in the Odienné Project JV in return for USD 15 million of exploration expenditures. Newmont is funding the exploration program and Awalé is managing the Odienné Project JV in the initial three-year phase.

About Awalé Resources

Awalé is a diligent and systematic mineral exploration company focused on discovering large high-grade gold and copper-gold deposits. The Company currently undertakes exploration activities in the underexplored parts of Côte d'Ivoire. Awalé's exploration success to date has culminated in a fully funded earn-in Joint Venture with Newmont covering one permit and one application (the "Odienné Project JV") within the greater Odienné Copper-Gold Project in the Northwest of Côte d'Ivoire, where three significant gold and gold-copper-silver-molybdenum discoveries have been made. The Sceptre East and Charger discoveries have significant scope for growth with future discovery and resource development drilling. The project has multiple pipeline prospects with similar geochemical fingerprints to Iron Oxide Copper Gold ("IOCG") and intrusive related mineral systems. The 400km2 of granted tenure and 400km2 under application remain underexplored and offer significant upside potential. The Odienné Project JV forms a solid foundation for the Company to continue exploring in a pro-mining jurisdiction that provides significant potential for district-scale discoveries.

Quality Control and Assurance

Analytical work for drill samples is being carried out at the independent Intertek Laboratories in Ghana and Australia, an ISO 17025 (2017) Certified Laboratory. Samples are stored at the Company's field camps and put into sealed bags until collected by Intertek from the Company's secure Odienné office and transported by Intertek to their preparation laboratory in Yamoussoukro, Cote d'Ivoire, for preparation. Samples are logged in the tracking system, weighed, dried, and pulverized to greater than 85%, passing a 75-micron screen. Two pulps are prepared from each sample with one stream to Intertek Ghana for fire assay and a second to Australia where the sample is analysed by 52 element ICP/MS with an Aqua Regia digest. Blanks, duplicates, and certified reference material (standards) are being used to monitor laboratory performance during the analysis.

Mineralized Interval Calculations

Significant intervals reported in this news release are calculated downhole length weighted intercepts. For Charger and BBM target initial intervals are calculated at a 0.3 g/t trigger and include 3m of internal waste but carry 0.5 g/t in included intervals. Included intervals are at 0.5, 1g/t and 5g/t trigger values.

Abbreviations Used in This Release

AgSilver
AuGold
Au Eq.Gold Equivalent
CuCopper
Cu Eq.   Copper Equivalent
g/tgrams per tonne
kmKilometres
mMetres

 

Qualified Person

The technical and scientific information contained in this news release has been reviewed and approved for release by Andrew Chubb, the Company's Qualified Person as defined by National Instrument 43-101. Mr Chubb is the Company's Chief Executive Officer and holds an Economic Geology degree, is a Member of the Australian Institute of Geoscientists (AIG) and is a Member of the Society of Economic Geologists (SEG). Mr Chubb has over 18 years of experience in international mineral exploration and mining project evaluation.

ON BEHALF OF THE BOARD

Awale Resources Limited

"Andrew Chubb"

Andrew Chubb, CEO

For additional information, you are invited to visit the Awalé Resources Limited website at www.awaleresources.com, or contact Andrew Chubb CEO (+356) 99139117, a.chubb@awaleresources.com.

Forward-Looking Information

This press release contains forward-looking information within the meaning of Canadian securities laws (collectively "forward-looking statements"). Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, plans, postulate and similar expressions, or are those, which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements in this press release include but are not limited to statements regarding, the Company's presence in Cote d'Ivoire and ability to achieve results, creation of value for Company shareholders, achievements under the Newmont JV, works on other properties, planned drilling, commencement of operations. Although the Company believes any forward-looking statements in this press release are reasonable, it can give no assurance that the expectations and assumptions in such statements will prove to be correct. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company's management's discussion and analysis as filed under the Company's profile at www.sedar.com. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/193883

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In accordance with the interim order granted by the Ontario Superior Court of Justice (Commercial List) on November 12, 2024, providing for the calling and holding of the Meeting and other procedural matters relating to the Arrangement, the Arrangement can only proceed if, among other conditions, it receives the approval of not less than two-thirds (66⅔%) of the votes cast on the Arrangement Resolution by Doré Copper Shareholders in person or by proxy at the Meeting and not less than a majority (50% + 1) of the votes cast on the Arrangement Resolution by Doré Copper Shareholders in person or by proxy at the Meeting excluding the votes cast by certain interested or related parties or joint actors of Doré Copper in accordance with the minority approval requirements of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions .

Under the Arrangement Agreement, the parties have agreed to effect the Arrangement, pursuant to which Cygnus will indirectly acquire all of the issued and outstanding common shares in the capital of Doré Copper (" Doré Copper Shares "), and Doré Copper Shareholders will be entitled to receive, for each Doré Copper Share held immediately prior to the effective time of the Arrangement (the " Effective Time "), 1.8297 fully paid ordinary shares (the " Consideration ") in the capital of Cygnus (each one whole share, a " Cygnus Share ").

As a result of, and immediately following the completion of, the Arrangement, Doré Copper will be an indirect wholly-owned subsidiary of Cygnus and the former Doré Copper Shareholders will be entitled to receive the Consideration for each Doré Copper Share previously held by them immediately prior to the Effective Time (subject to rounding, as provided for in the Plan of Arrangement).

Cygnus has applied for its Cygnus Shares to be listed on the TSX Venture Exchange (the " TSXV "). It is a condition of closing that Cygnus shall have received conditional listing approval from the TSXV to list the Cygnus Shares on the TSXV. Listing of the Cygnus Shares on the TSXV will be subject to Cygnus receiving approval from, and fulfilling all of the minimum listing requirements of, the TSXV.

Meeting and Circular

The Meeting of the Doré Copper Shareholders will be held at the offices of Bennett Jones LLP located at One First Canadian Place, 100 King Street West, Suite 3400, Toronto, Ontario, M5X 1A4 on December 16, 2024 at 12:00 p.m. (Toronto time). Doré Copper Shareholders of record as of the close of business on November 13, 2024 are entitled to receive notice of and to vote at the Meeting. Doré Copper Shareholders are urged to vote before the proxy deadline of 12:00 p.m. (Toronto time) on December 12, 2024.

The Circular provides important information on the Arrangement and related matters, including the background of the Arrangement, the rationale for the recommendations made by the Special Committee and the Doré Copper Board, and voting procedures. Doré Copper Shareholders are urged to read the Circular and its appendices carefully and in their entirety. The Circular is being mailed to Doré Copper Shareholders in compliance with applicable Canadian securities laws. The Circular is available under Doré Copper's profile on SEDAR+ at www.sedarplus.ca and on Doré Copper's website at www.dorecopper.com .

Impact of Canada Post Labour Strike

Due to the ongoing Canada Post labour strike, it is possible that Doré Copper Shareholders may experience a delay in receiving the Circular and related materials in respect of the Meeting. Doré Copper Shareholders are encouraged to access the Circular and related materials electronically as noted above. Registered holders of Doré Copper Shares experiencing a delay in receiving the Circular and related materials may contact Computershare Investor Services Inc. at 1-800-564-6253 to obtain their individual control numbers in order to vote their Doré Copper Shares. Registered holders of Doré Copper Shares are encouraged to vote their Doré Copper Shares via the internet at www.investorvote.com or via telephone at 1-866-732-VOTE (8683). Registered holders of Doré Copper Shares are also encouraged to complete and return letters of transmittal by hand or by courier to ensure the appropriate documents are received in a timely manner. Beneficial holders of Doré Copper Shares experiencing a delay in receiving the Circular and related materials should contact their broker or other intermediary for assistance in obtaining their individual control numbers in order to vote their Doré Copper Shares. Beneficial holders of Doré Copper Shares are encouraged to vote their Doré Copper Shares via the internet at www.proxyvote.com or via telephone at 1-800-474-7493 (English) or 1-800-474-7501 (French). It is recommended that any physical forms of proxy or voting instruction forms be delivered via courier to ensure that they are received in a timely manner.

Registered holders of Doré Copper Shares who wish to exercise their dissent rights in connection with the Arrangement are also cautioned to deliver their written objection to Doré Copper by mail using a method other than Canada Post or by facsimile transmission in accordance with the instructions set forth in the Circular to ensure that they are received in a timely manner.

Other Matters

Agreement with SOQUEM

Further to its news release dated July 3, 2024, on July 2, 2024, Doré Copper issued 1,190,476 Doré Copper Shares to SOQUEM at a deemed price of $0.105 per Doré Copper Share in connection with its acquisition of a 56.41% interest in a group of contiguous claims located immediately north and east of its flagship high-grade Corner Bay copper project in the Chibougamau mining camp.

About Doré Copper Mining Corp.

Doré Copper Mining Corp. aims to be the next copper producer in Québec with an initial production target of +50 million pounds of copper equivalent annually by implementing a hub-and-spoke operation model with multiple high-grade copper-gold assets feeding its centralized Copper Rand mill 1 . Doré Copper has delivered its PEA in May 2022 and is proceeding with a feasibility study. Doré Copper has consolidated a large land package in the prolific Lac Doré/Chibougamau and Joe Mann mining camps that has historically produced 1.6 billion pounds of copper and 4.4 million ounces of gold. 2 The land package includes 13 former producing mines, deposits and resource target areas within a 60-kilometer radius of Doré Copper's Copper Rand Mill.

About Cygnus Metals

Cygnus Metals Limited (ASX: CY5) is an emerging exploration company focused on advancing the Pontax Lithium Project (earning up to 70%), the Auclair Lithium Project and the Sakami Lithium Project in the world class James Bay lithium district in Québec, Canada. In addition, Cygnus has REE and base metal projects at Bencubbin and Snake Rock in Western Australia. The Cygnus Board of Directors and Technical Management team have a proven track record of substantial exploration success and creating wealth for shareholders and all stakeholders in recent years. Cygnus' tenements range from early-stage exploration areas through to advanced drill-ready targets.

For further information about Doré Copper, please contact:

Ernest Mast Laurie Gaborit
President and Chief Executive Officer Vice President, Investor Relations
Phone: (416) 792-2229 Phone: (416) 219-2049
Email: ernest.mast@dorecopper.com Email: laurie.gaborit@dorecopper.com

Visit: www.dorecopper.com
Facebook: Doré Copper Mining
LinkedIn: Doré Copper Mining Corp.
Twitter: @DoreCopper
Instagram: @DoreCopperMining

Cautionary Note Regarding Forward-Looking Statements
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this news release, including, without limitation, statements with respect to the proposed Arrangement and the terms thereof, the completion of the Arrangement, including receipt of all necessary court, shareholder and regulatory approvals and timing thereof, the listing of the Cygnus Shares on the TSXV, and the plans, operations and prospects of Doré Copper and its properties are forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the ability to obtain approvals in respect of the Arrangement and to consummate the Arrangement, the ability to obtain approvals for the listing of the Cygnus Shares on the TSXV, integration risks, actual results of current and future exploration activities, benefit of certain technology usage, the ability of prior successes and track record to determine future results, changes in project parameters and/or economic assessments, availability of capital and financing on acceptable terms, general economic, market or business conditions, future prices of metals, uninsured risks, risks relating to estimated costs, regulatory changes, delays or inability to receive required regulatory approvals, health emergencies, pandemics and other exploration or other risks detailed herein and from time to time in the filings made by Doré Copper with securities regulators. Although Doré Copper has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. 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. Doré Copper disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Neither 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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