Announcement • Jun 24
DLP Resources Inc. Achieves 100% Ownership Of Aurora Project And Provides Update On Preliminary Economic Assessment DLP Resources Inc. has successfully fulfilled all commitments under the SMRL Parobamba II option agreement, exercising its option to earn 100% of the Aurora project. This milestone eliminates any remaining interest dilution and positions DLP as the sole owner of the +10-billion-pound copper equivalent inferred resource base at Aurora. In February 2025, DLP announced a 1.05 billion-tonne inferred maiden resource grading 0.44% CuEq (0.20% Cu, 0.05% Mo, 2.4 g/t Ag) prepared by AMC Consultants Pty Ltd. Aurora’s Preliminary Economic Assessment, being conducted by three Engineering firms including Global Resource Engineering, SRK and Ausenco, is expected to be completed in the Third Quarter 2026. The scope of the study involves evaluating combined open pit and underground mining scenarios alongside optimal infrastructure layouts, with the objective of identifying the best long-term economic outcome. Aurora's unique geometry presents the potential to access high-grade molybdenum resources in the early years of production alongside large-scale open pit copper. New Risk • May 27
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 40% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 26% per year over the past 5 years. Shareholders have been substantially diluted in the past year (40% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$32.0m market cap, or US$23.2m). Announcement • May 23
DLP Resources Inc. announced that it has received CAD 5 million in funding On May 21, 2026, DLP Resources Inc. closed the transaction. The company issued a total of 24,000,000 units at a price of CAD 0.25 per Unit for gross proceeds of CAD 6,000,000 that includes 20,000,000 units for gross proceeds of CAD 5,000,000 as part of the offering and 4,000,000 units for gross proceeds of CAD 1,000,000 as part of exercised overallotment option. Each Unit consists of one common share of the Company and one common share purchase warrant. Each Warrant entitles the holder thereof to purchase one Common Share at a price of CAD 0.35 at any time from July 21, 2026 to May 21, 2029. As consideration for their services, Red Cloud received a cash fee of CAD 345,000 and were issued 1,380,000 non-transferable common share purchase warrants (the “Broker Warrants”). Each Broker Warrant is exercisable into one Common Share at the Offering Price at any time on or before May 21, 2029. Additionally, the Company paid aggregate cash fees of CAD 20,635 and issued an aggregate of 82,540 broker warrants on the same terms as the Broker Warrants (the “Finder Warrants”) to certain qualified finders in connection with the Offering. The Broker Warrants and the Finder Warrants, and any Common Shares issuable upon any future exercise thereof, will be subject to a hold period in Canada in accordance with applicable Canadian securities law, expiring on September 22, 2026. The closing of the Offering remains subject to the final approval of the TSX Venture Exchange. 
