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DLP Resources Inc. (TSXV: DLP,OTC:DLPRF) (OTCQB: DLPRF) (FSE: J8C) ("DLP" or the "Company") announces the extension of the completion of a Preliminary Economic Assessment (PEA) on the Aurora Copper-Molybdenum-Silver Project to Q2 of 2026. Since the Company's release of a National Instrument 43-101 technical report dated January 31, 2025, the Aurora Project has been evaluated solely using open pit mining methods. Although this method is attractive, the additional drilling and mining review has indicated the possibility of exploiting potential resources at lower project elevations below the currently designed pit limit. The Company believes it is prudent to take the necessary time to fully evaluate the economic option to simultaneously mine using both underground and open pit extraction to maximise the potential value of the Aurora Project. This time extension is required for Global Resource Engineering, who is undertaking the current Preliminary Economic Assessment study, to evaluate and optimize the surface mining-underground mining resource potential. The revised PEA is expected to be completed in Q2 of 2026.
It is important to note that the depth of the pit is constrained by nearby surface water. The open pit shells in comparison to molybdenum grade are shown below, both as a NE-looking section and a SE-looking section (Figures 1 and 2, respectively).
Figure 1: Cross-Section of the Aurora Deposit looking NE with Mo grades shown below proposed pit Limit (Global Resource Engineering generated section).
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Figure 2: Cross-Section of the Aurora Deposit looking SE, with Mo grades shown below proposed pit Limit (Global Resource Engineering generated section).
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Mr. Gendall, President and CEO, commented: "I am excited about the economic potential arising from the possible scenario of mining both the underground and open pit resources simultaneously. The additional drilling of 4309 metres in 2025 is being used to update the Mineral Resource estimate for 2026 and inclusion in the PEA study, as well as for the assessment of the underground mining potential. This additional study would showcase the potential extraction of some of the world's highest grade molybdenum resources in the early years of mine life whist simultaneously mining large-scale open pit copper resources. The Aurora Project has a unique geometry, which potentially has a very low waste to ore ratio and the potential to drift horizontally into large underground resources without the requirement to construct an expensive and time-consuming shaft from the top of the deposit. I believe this extra time of technical study will add value to the Aurora Project."
Aurora Project (Porphyry Cu-Mo-Ag Deposit)
On February 27, 2025, DLP reported the results of a National Instrument 43‐101 Technical Report on the maiden Mineral Resources for the Aurora Project. The Mineral Resources are effective January 31, 2025 and were prepared by independent AMC Consultants Pty Ltd. ("AMC"). The report can be found under the Company's profile on SEDAR+ at www.sedarplus.ca and on the Company's website.
Highlights of the Aurora Maiden Mineral Resource included:
Greater than 1 billion tonne Inferred Resource.
The Mineral Resource contains 4,650 million pounds of copper, 1,110 million pounds of molybdenum and 80 million ounces of silver.
A pit-constrained Inferred Resource of 1,050 Mt grading 0.20% copper, 0.05% molybdenum and 2.4 g/t silver (0.44% CuEq).
The mineral resource is divided into a copper-rich zone and a molybdenum-rich zone with consistent distribution of mineralisation. Initial studies indicate these zones are laterally continuous within the modelled domains.
The mineralisation remains open in many directions for further expansion of mineral resources.
Table 1. Aurora Project - Mineral Resources and metal content for copper, molybdenum and silver as of January 31, 2025
| Cut-off (NSR) | Resource Category | Tonnage (Mt) | CuEq (%) | Cu (%) | Mo (%) | Ag (g/t) | Cu metal (Mlb) | Mo metal (Mlb) | Ag metal (Moz) |
| $5.75 | Inferred | 1,050 | 0.44 | 0.20 | 0.05 | 2.4 | 4,650 | 1,110 | 80 |
Notes:
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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 Mineral Resource estimates for the Aurora Project were carried out by AMC under the supervision of AMC's Principal Geologist, Chris Harman, MAIG. Mr. Harman is a Qualified Person and takes responsibility for these estimates. The Qualified Person has reviewed and consented to this news release as it fairly and accurately represents the information in the Technical Report that supports the disclosure.
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, on the OTCQB, trading symbol DLPRF, and on the FSE, trading symbol J8C. Please refer to our web site www.dlpresourcesinc.com for additional information.
FOR FURTHER INFORMATION PLEASE CONTACT:
For further information please contact:
DLP Resources Inc.
Ian Gendall, President and Chief Executive Officer
Bill Bennett, Chairman
Jim Stypula, Lead Director
Robin Sudo, Corporate Secretary and Land Manager
Email: iangendall@dlpresourcesinc.com
Email: billbennett@dlpresourcesinc.com
Email: jimstypula@dlpresourcesinc.com
Email: robinsudo@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 the expected timing of completion of an updated Mineral Resource estimate and PEA, the possibility of exploiting potential resources at lower project elevations below the currently designed pit limit, the potential for an economic option to simultaneously mine using both underground and open pit extraction, the potential extraction of some of the world's highest grade molybdenum resources in the early years of mine life whist simultaneously mining large-scale open pit copper resources, the Company's belief that the Aurora Project has a very low waste to ore ratio and the potential to drift horizontally into large underground resources without the requirement to construct an expensive and time-consuming shaft from the top of the deposit, and the Company's belief that the additional time required to complete the PEA will add value to the Aurora Project.
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, the risk that the PEA will not be completed in Q2 2026 or at all, the risk that it may not be possible to exploit potential resources at lower project elevations below the currently designed pit limit or to simultaneously mine using both underground and open pit extraction, the risk that the PEA, if completed, will not support the potential extraction of some of the world's highest grade molybdenum resources in the early years of mine life whist simultaneously mining large-scale open pit copper resources, the risk that Aurora Project does not have a very low waste to ore ratio or the potential to drift horizontally into large underground resources.
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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