DLP Resources Expands Copper and Molybdenum zone on the 100 % Owned Esperanza Project with an Additional 53 Rock Samples Returning up to 3.46 % Cu, 130.5ppm Mo, 7930ppm Zn and 245ppm Co

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.

SAMPLE	Northing	Easting	Elev.	Cu	Mo	Zn	Co	Description
No	m	m	m	%	ppm	ppm	ppm	Rock Chip Samples 2x2m Sampling Area
1201	8134576	243185	1711	<0.01	15.3	33	0.7	Qtz-Tourmaline breccia
1202	8134575	243085	1721	<0.01	22.5	67	0.8	Intensely fractured diorite with FeOx boxworks
1203	8134566	243075	1707	<0.01	23.2	69	0.9	Diorite with SS clasts and Fe-oxides + Tourmaline
1204	8134585	243094	1710	<0.01	41.2	98	5.1	Sandstone with Fe-oxides + Quartz-sericite
1205	8134584	243102	1721	<0.01	20.5	63	9.9	Diorite with argillic alteration + intense veining of Fe oxides
1206	8134570	243107	1712	0.01	35.3	20	1.7	Diorite + Veining with FeOx + Mn + Neo + Tm
1207	8134507	243151	1714	0.02	37.8	107	58.5	Diorite + Veining with FeOx + Tm
1208	8134485	243190	1729	0.69	130.5	7930	42.3	Diorite, Arg, with SS and Qtz vlts and FeOx boxworks +Tm
1209	8134293	243141	1716	0.01	11.05	146	13.8	Diorite, Arg with SS and Qtz vlts and FeOx boxworks +Tm
1210	8134454	243330	1729	0.04	37.3	45	4.8	Diorite, Arg altered, qtz-FeOx + Tm + fine alunite? in matrix.
1211	8134676	242844	1728	0.02	34	138	10.9	Diorite Sil, Qtz vlts, Mn-Tm, intense angular fractures.
1214	8134817	242754	1729	0.01	17.35	23	9.3	Diorite, Arg Alteration, Vlts of Qz, FeOx, Mn +Tm
1215	8134846	242718	1728	0.01	20.2	33	33.7	Polymictic Bx frag of SS with FeOx veins + Mn
1217	8134918	242865	1718	0.01	7.48	22	11.7	Diorite QSP with Qtz vlts and FeOx-Mn
1218	8134971	242872	1711	0.01	7.37	23	11.6	Diorite QS with FeOx, Mn veins + intense fractures.
1226	8136321	244504	1886	1.84	1.38	1115	42.5	Polymictic Bx, pseudostratified with presence of malachite
1227	8136164	244682	1852	1.71	5.56	2490	176.5	Polymictic Bx, pseudostratification + malachite and Mn
1229	8136181	244817	1852	3.46	16.15	1480	185	Polymictic Bx?, with malachite and Mn in matrix
1230	8136224	244609	1887	0.46	5.73	373	11.8	Polymictic Bx?, with malachite and Mn in matrix
1231	8136198	244557	1589	1.26	2.43	1050	39.6	Polymictic Bx?, with malachite and Mn in matrix
1232	8136152	244500	1884	0.7	3.75	487	22.5	Subhorizontal polymictic Bx with malachite and Mn in matrix
1234	8136108	244494	1876	0.41	4.77	553	54	Polymictic Bx with malachite and Mn in subhorizontal horizons
1235	8136033	244518	1878	0.44	5.02	547	24.1	Polymictic Bx with malachite and Mn in subhorizontal horizons
1236	8136080	244564	1853	0.76	7.91	1270	245	Polymictic Bx with malachite and Mn in subhorizontal horizons
1237	8135958	244587	1856	1.54	6.34	774	57.2	Polymictic Bx with malachite, atacamite and Mn
1239	8135880	244513	1863	0.25	4.36	379	20.6	Polymictic Bx with malachite in a subhorizontal horizon
1240	8135792	244510	1861	0.82	4.1	410	17.1	Polymictic Bx with malachite in a subhorizontal horizon
1241	8135679	244568	1852	0.38	6.14	506	26.5	Polymictic Bx with malachite in a subhorizontal horizon
1242	8135353	244010	1789	0.12	3.2	2100	146	Polymictic Bx with malachite in a subhorizontal horizon
1244	8135443	244065	1792	0.32	4.38	1500	115	Polymictic Bx with malachite in a subhorizontal horizon
1245	8134403	242718	1674	0.01	14	31	8.9	Diorite, Arg., with Mn in irregular veins
1246	8134540	242985	1691	0.01	51	241	34.4	Diorite, Arg., with Mn in irregular veins
1247	8134364	242830	1667	<0.01	23	55	3.5	Diorite, Qtz, Tm, FeOx in boxworks + intense fracturing + veins
1249	8134200	242674	1645	<0.01	5.79	49	6.3	Quartzite/SS with FeOx in veinlets/fractures and presence of Tm
1250	8134158	242640	1637	<0.01	17.05	11	1.6	Quartzite/SS with FeOx in veinlets/fractures and presence of Ser
1751	8134093	242562	1628	<0.01	26.9	48	19.7	Bx of quartzite/SS with FeOx boxworks + FeOx in fractures
1752	8134627	242082	1626	<0.01	12.2	84	18.1	Diorite, Arg, FeOx + quartzite/SS with FeOx boxworks
1754	8134434	242254	1645	0.02	59.5	89	1.7	Vein?, QSP, malachite and OxFe in fractures and boxworks
1755	8134249	242291	1634	<0.01	12.3	7	1.1	Bx, QSP +FeOx boxworks +quartz
1756	8134244	242276	1643	<0.01	4.87	27	3.6	Bx, QSP, presence of FeOx boxworks + quartz
1757	8134220	242248	1651	<0.01	10.25	139	29.4	Bx, subangular fragments, Qtz-Tm?
1759	8134070	242351	1607	<0.01	10.05	29	2.8	Diorite, QSP, FeMo in fractures, FeOx +intense fracturing
1760	8134168	242265	1644	<0.01	13.8	121	18.7	Bx, quartz veins with FeOx, Mn and Tm in fractures
Notes: Bx-Breccia, Qtz-Quartz, Tm-Tourmaline, Vlts-veinlets, FeOx-Iron Oxides, FeMo-ferrimolybdenite, Mt-magnetite, SS-sandstone, Py-Pyrite, Ep-Epidote, Chl-Chlorite, Arg-Argillic, QSP-Quartz-sericite-pyrite, Ser-Sericite, Sil-Silicified, Lim-Limonite, Neo-Neotocite, Mn-Manganese, Qtz-Quartz, V-Very, Frac-Fractured

 

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

SAMPLE	Northing	Easting	Elev.	Cu	Mo	Zn	Co	Description
No	m	m	m	%	ppm	ppm	ppm	Rock Chip Samples 2x2m Sampling Area
1153	8136819	244380	1953	0.44	0.77	2010	79.9	Quartz Diorite, FeOx + Malachite + Mn + Tm?
1159	8136708	244451	1940	0.01	6.31	59	7.6	Quartz Diorite, Qtz Veinlets + FeOx + Calcite
1160	8136536	244530	1929	0.01	6.84	71	4.2	Aplite Dyke, FeOx + Neotocite
1161	8136324	244719	1959	3.88	1.47	3540	281	Polymictic Bx, Qtz + Tm + Ox Cu + Mn
1162	8136329	244714	1959	2.84	1.75	2510	237	Polymictic Bx, Qtz + Tm + Ox Cu + Mn
1163	8136311	244723	1955	3.34	1.39	1905	238	Polymictic Bx, Qtz + Tm + Ox Cu + Mn
1164	8136313	244674	1853	3.85	1.46	1885	323	Polymictic Bx, Qtz + Tm + Ox Cu + Mn
1165	8136818	244384	1954	3.17	1.26	1600	210	Quartz Diorite, FeOx, CuOx, Malachite + Mn + Tm?
1166	8136818	244384	1954	0.22	0.54	1490	68.3	Quartz Diorite, FeOx, CuOx, Malachite + Mn + Tm?
1167	8136818	244384	1953	1.10	1.49	2030	155.0	Quartz Diorite, FeOx, CuOx, Malachite + Mn + Tm?
1168	8136818	244384	1953	0.07	0.34	361	23.20	Quartz Diorite, FeOx, CuOx, Malachite + Mn + Tm?
1169	8136818	244384	1953	0.42	0.89	3270	136.5	Quartz Diorite, FeOx, CuOx, Malachite + Mn + Tm?
1171	8136739	244409	1930	4.67	1.76	3060	209	Quartz Diorite, Arg Alteration, Qtz Vlts, FeOx, + Vlts Calc
1172	8136324	244719	1932	4.71	1.63	2030	383	Polymictic Bx, Qtz + Tm + Ox Cu + Mn
1173	8136329	244714	1853	1.15	1.32	2730	286	Polymictic Bx, Qtz + Tm + Ox Cu + Mn
1174	8136311	244723	1853	1.45	1.28	1155	26.4	Polymictic Bx, Qtz + Tm + Ox Cu + Mn
1188	8134456	241824	1917	0.01	14.8	65	30.9	Breccia, FeOx, Lim boxworks
1189	8134615	241913	1922	0.01	28.8	24	4.70	Polymictic Bx, FeOx in fractures
1191	8135447	242573	1930	0.02	10.2	82	17.20	Quartz vein, Strong Fracturing with FeOx + Mn
1192	8134631	243258	1926	0.02	6.54	98	5.80	Andesite fragment, FeOX, Intense Fracturing
1193	8134646	243282	1929	0.01	2.46	27	2.20	Quartz Diorite, QS Alteration, Very Fractured
1194	8134745	243125	1929	0.01	2.95	48	2.60	Quartz Diorite, FeOx, Turgite,
1195	8134797	243341	1925	<0.01	3.08	77	0.80	Quartz Diorite, FeOx, Turgite, Intense Fractures
1196	8134471	243472	1924	<0.01	14.8	42	4.00	Quartz Diorite, Quartz Vlts, FeOx boxworks, Intense Frac.
1197	8134164	243266	1917	<0.01	3.76	95	3.60	Diorite with Qtz Vlts, Leached - FeOx + Qtz Tm vlts
Notes: Bx-Breccia, Qtz-Quartz, Tm-Tourmaline, Vlts-veinlets, FeOx-Iron Oxides, Mt-magnetite, Py-Pyrite, Ep-Epidote, Chl-Chlorite, Lim-Limonite, Neo-Neotocite, Mn-Manganese, Calc-Calcite, V-Very, Frac-Fractured

 

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: 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 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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