DLP releases positive PEA for Aurora copper-molybdenum project

( All figures in United States Dollars unless otherwise stated)

The PEA establishes Aurora as a Large-Scale, Long-Life Copper-Molybdenum Asset; Deliberate Phased Development Approach Designed to Maximize Returns on Initial Capital and Preserve Potential Multi-Phase Underground Expansion

Highlights

Base case after-tax NPV8% of $2,703 M, after-tax IRR of 18.5%, and payback period of 5.2 years from start of production, at long-term commodity price assumptions of $4.90/lb copper, $25.40/lb molybdenum, and $45.30/oz silver.

At spot prices as of August 26, 2026 ($6.47/lb copper, $33.57/lb molybdenum and $68.50/oz silver), a spot price sensitivity case generates an after-tax NPV8% of $4,812 M, after-tax IRR of 24.9%, and payback period of 3.8 years.

PEA establishes Aurora as one of the highest-grade molybdenum projects in the world, mining an average molybdenum grade of 0.20% Mo across 15 years of underground mining, peaking at 0.25% in year 10.

17.5-year mine-life with 402.9 million tonnes processed at 65,000 tonnes per day with multi-phase expansion potential beyond 17.5 years. a 7-year open pit phase mining 237.3 million tonnes of mineralized material at a 0.95:1 strip ratio

a 15-year underground phase mining 165.6 million tonnes of mineralized material, with stockpile processing in parallel.

Average annual production of 90.5 million pounds payable copper, 37.4 million pounds payable molybdenum and 1.21 million ounces payable silver with peak copper production of 154 million payable pounds in year 3.

Total payable production of approximately 1,629 million pounds of copper, 673 million pounds of molybdenum and 21.8 million ounces of silver, generating total gross revenue of approximately $26,072 million over the mine life.

Initial capital cost estimate of $2,377 million, including contingency, with su