2022-07-11 | TSXV:DLP | Press release

Cranbrook, British Columbia–(Newsfile Corp. – July 11, 2022) – DLP Resources Inc. (TSXV: DLP) (OTCQB: DLPRF) (“DLP“or the”Company“)Announces Receipt of Drill Permit for Hungry Creek, 711 Target Area and Appoints Allan Frame to Advisory Board. Drilling of 1800m from six drill rigs on the 711 target area is expected to begin within the next two weeks.

Hungry Creek – Target Area 711

The Hungry Creek property consists of 74 claims (Figure 1). The mining claims cover just over 38,852.92 hectares. Geologically, the property is hosted in the Mesoproterozoic Belt-Purcell Basin and is targeted for stratabound Cu-Co-Ag analogous to other Belt-Purcell hosted deposits such as Sheep Creek, Spar Lake, Rock Creek, Montanore (Montana), and the Blackbird District (Idaho) – Figure 2.

The 711 Target zone at Hungry Creek will be the center of the first six holes where very encouraging copper mineralization has been reported from seven grab samples and two float samples (see DLP press release dated November 30, 2021). Copper up to 1.15% and abnormal silver up to 3.51 ppm as well as abnormal cobalt (up to 117.6 ppm) and barium (up to 4274 ppm) have also been detected. reported (Figure 3).

Appointment of Allan Frame to the advisory board

Al Frame has worked in capital markets, in a variety of roles including corporate finance, investment advisor and partner in securities firms for 47 years. Additionally, Al has been the lead underwriter in several junior resource company IPOs and subsequent financings. Al brings considerable capital market knowledge and contacts and served and chaired several Alberta Stock Exchange committees in the 1980s and 1990s.

Ian Gendall, President and CEO of DLP, said: “We are very pleased to have Al Frame accept the position on our advisory board. Al brings enormous value to the company through his extensive experience raising millions of dollars for exploration companies during his 47 years in the Financial Services and Securities business.”

Figure 1: DLP Project areas with the Hungry Creek and Copper Creek properties shown.

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Figure 2: Hungry Creek and Copper Creek claims presented in outcrops of the Belt Purcell Supergroup and comparative stratigraphy for sediment-hosted copper deposits in northwestern Montana and northern Idaho.

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Figure 3: Target area 711 at Hungry Creek.

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Qualified person

David L. Pighin, Consulting Geologist and Co-Founder of DLP Resources, is the Company’s Qualified Person as defined by National Instrument 43-101. Mr. Pighin has reviewed and approved the technical content of this press release.

About DLP Resources Inc.

DLP Resources Inc. is a mining exploration company operating in southeastern British Columbia and Peru, exploring for base metals and cobalt. DLP is listed on the TSX Venture Exchange, symbol DLP and on the OTCQB, symbol DLPRF. Please see our website www.dlpresourcesinc.com for more information.

FOR MORE INFORMATION, PLEASE CONTACT:

DLP RESOURCES INC.

Ian Gendall, CEO and President

Jim Stylula, Executive Chairman

Robin Sudo, Chief Financial Officer and Corporate Secretary

Maxwell Reinhart, Investor Relations

Phone: 250-426-7808

E-mail:
[email protected]

E-mail:
[email protected]

E-mail:
[email protected]

E-mail:
[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.

Caution Regarding Forward-Looking Information

This release contains 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 the Company’s management 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 “would”. Such information and statements, referred to herein as “forward-looking statements”, are not historical facts, are made as of the date of this press release, and include, without limitation, statements regarding discussions of plans, estimates and future forecasts and statements such as management’s expectations and intentions regarding drilling on the Hungry Creek-Copper Creek properties in southwestern British Columbia.

These forward-looking statements involve numerous risks and uncertainties, and actual results may differ materially from the results suggested in the forward-looking statements. These risks and uncertainties include, among others, expected drilling results from the Hungry Creek-Copper Creek properties in southwestern British Columbia.

Although the Company’s management has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking statements or information, there may be other factors that cause the results are not those 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 this information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statements, forward-looking information or financial outlook which are incorporated by reference herein, except in accordance with applicable securities laws. We seek refuge.

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