Dore Copper Announces Joe Mann Option Deal Update, The Canadian Business Journal

TORONTO, November 18, 2022 (GLOBE NEWSWIRE) — Dore Copper Mining Corp.Company” Also “Dre Copper“) (TSXV: DCMC; OTCQX: DRCMF; FRA: DCM) announces that it has signed an agreement (“Contract amendment”) on October 28, 2022, the Earn-In Option Agreement (“Option contract“) Effective January 2, 2020, the Company and Ressources Jessie Inc. (“resource jessie”) This gives us the option to acquire Joe Mann’s property (“property“) From Ressources Jessie, as previously announced on January 2, 2020. Joe Mann Mine, located 60 kilometers south of Sibgamau, Quebec, produced 112 quarts at an average grade of 8.26 g/t from the 1950s to 2007. Produced 10,000 ounces of gold.¹The deposit has an Inferred Resource of 680,000 tonnes of 6.78 g/t Au and 0.24% Cu, which was included in the Preliminary Economic Assessment (PEA) of the Hub and Spoke Project announced on May 10, 2022. I have.².

Pursuant to the terms of the Amended Agreement, the Company has agreed to accelerate the final scheduled cash and stock payments under the Option Agreement. We have made the final scheduled cash payment to Jesse of the resource of $1,500,000 (thus fulfilling his scheduled cash payment obligation) and in our capital he has issued 3,333,333 shares of common stock. increase(“common stock”) Legault Metals Inc. (”legal“) Upon acceptance of the TSX Venture Exchange, at a deemed value of $0.30 per share of common stock for an aggregate aggregate value of $1,000,000 (thus meeting all scheduled equity payment obligations). The deadline to cover the costs has also been extended to February 28, 2023, totaling approximately $830,000.

Following the fulfillment of the scheduled cash and stock payment obligations, Ressources Jessie will commence the transfer of the Property to us. Upon exercising this option, the company must grant Ressources Jessie 2% of his net smelter earnings (“NSR“) Royalties on mine production from the property. The company has the right to repurchase 1% of NSR in consideration of a $2,000,000 payment to Ressources Jessie and an additional 0.5% in consideration of a $4,000,000 payment to Ressources Jessie. We reserve the right to buy back NSR.

Under the original terms of the option agreement, upon commencement of commercial production on the property, Doré Copper will make an additional $1,000,000 cash payment to Ressources Jessie and issue $1,500,000 of common stock to Legault.

The company is currently drilling a hole below the deepest mining level, east of the Jorman Mine, to test the down-plunge extension of a historic underground hole that returned 9.33 g/t Au at 2.4 meters (U-9161_D). is drilling. In early 2023, the company plans to test a geophysical anomaly located about 500 meters south of the mine.

Sylvain Lépine, M.Sc., P.Geo., Vice President Exploration of the Company and a “Qualified Person” in a National Instrument 43-101 – Mineral Project Disclosure Standardshas reviewed and approved the scientific and technical information contained in this news release.

The map below shows the land ownership of the Joe Mann property.

About Dre Copper Mining Corporation

Dore Copper Mining Corp. aims to become Quebec’s next copper producer, with an initial production target of +50 Mlbs of copper equivalent per year, and several high-grade copper and gold mines. We have introduced a hub-and-spoke operating model using assets to supply centralized copper.land mill²The company submitted a PEA in May 2022 and is proceeding with a feasibility study.

The Company has integrated a large land package into the prolific Lac Doré/Chibgamau and Jorman mining camps which have historically produced 1.6 billion pounds of copper and 4.4 million ounces of gold.¹This land package includes 13 former production mines, deposits and resource target areas within a 60km radius of our Copper Lands plant.

For more information, please contact:

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

1. Historical production source: Economic Geology, v. 107, pp. 963–989 – Structural and Stratigraphic Controls on Magmatic, Volcanogenic, and Shear Zone-Hosted Mineralization in the Chapais-Chibougamau Mining Camp, Northeastern Abitibi, Canada by François Leclerc et al. (Lac Dore/Chibougamau Mine Camp) and NI 43-101 Technical Report on the Joe Mann Property, dated January 11, 2016, for Geologica Groupe-Conseil Inc., Jessie Ressources Inc. (Joe Mann Mine). Dore Ramp November 1992 Overview, Westminer Internal Report.
2. Technical Report entitled “Preliminary Economic Assessment of Tibugamau Hub and Spoke Complex, Quebec, Canada” dated 15 June 2022 pursuant to National Instrument 43-101 – Mineral Project Disclosure StandardsThe technical report was prepared by BBA Inc., with several consulting firms contributing to sections of the study, including SLR Consulting (Canada) Ltd., SRK Consulting (Canada) Inc. and WSP Inc.

Cautionary Note Regarding Forward-Looking Statements
This news release contains certain “forward-looking statements” under applicable Canadian securities laws. Forward-looking statements include projections, projections, projections and often, but not always, “seek,” “forecast,” “believe,” “plan,” “estimate,” ” Identified using words such as “predict”. ‘expect’, ‘likely’, ‘project’, ‘goal’, ‘schedule’, ‘budget’, ‘intent’, and event or outcome ‘could’, ‘could’, ‘could’ “should”, “could”, or “could” or “could be achieved” and other similar expressions, including the negation thereof. All statements other than statements of historical fact contained in this news release are statements regarding the timing and ability of the company to obtain necessary regulatory approvals, the ability of the company to meet its production targets, commencement, timing and feasibility. The completion of research and the plans, operations and prospects of the company and its assets are forward-looking statements. Forward-looking statements, while believed to be reasonable, are subject to known and unknown risks, uncertainties and causes that actual results or future events may differ materially from those expressed or implied by them. are necessarily based on numerous estimates and assumptions that may be subject to other factors. Forward-Looking Statements. Such factors include actual exploration results, changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, and general economic , market or business conditions, uninsured risks, regulations and regulations. Changes, delays, or inability to obtain required regulatory approvals, health emergencies, pandemics, and other investigations or other risks are subject to this document and any documents we may file with securities regulators from time to time. It is listed. Although we have attempted to identify important factors that could cause our actual actions, events or results to differ from those set forth in the forward-looking statements, such actions, events or results may not be anticipated. There may be other factors that cause it to differ significantly from There can be no assurance that such statements will prove to be accurate, as actual results or future events could differ materially from those projected in such statements. You should not place undue reliance on forward-looking statements. We disclaim 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 regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this news release.

A map accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0560320c-a5b0-4183-a686-4e69f134279a.

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