DLP Resources commences first drill program at Esperanza copper-gold project

Highlights

Drilling has commenced - the first hole of DLP's maiden diamond drill program at the 100%-owned Esperanza copper-gold-molybdenum project in southern Peru was collared on September 20, 2026, on schedule.

The first metres ever drilled at Esperanza - 22,500 hectares, a 5.0 km x 2.5 km magnetic anomaly and 503 surface rock chip samples, and until this now not a single metre of drilling. Seven holes totalling approximately 3,000 metres are now being drilled into that target.

Shallow copper oxide holes turning first - the four shallow holes testing the 300 m x 700 m near-surface copper oxide zone are being drilled first, to a maximum of 150 metres each.

Deep porphyry holes to follow - three holes of 800 metres each will then test the interpreted porphyry copper-gold-molybdenum core beneath the 5.0 km x 2.5 km magnetic anomaly.

Cranbrook, British Columbia--(Newsfile Corp. - September 21, 2026) - DLP Resources Inc. (TSXV: DLP) (OTCQB: DLPRF) (FSE: J8C) ("DLP" or the "Company") is pleased to announce that diamond drilling has commenced at its 100%-owned Esperanza copper-gold-molybdenum project ("Esperanza" or the "Project") in southern Peru. The first hole was collared on September 20, 2026, following receipt of all necessary permits and the mobilization of drill rigs and supporting equipment to site (see news release dated September 10, 2026 ), marking the first drilling ever undertaken at Esperanza.

The maiden program comprises approximately 3,000 metres of diamond drilling in seven holes and tests two distinct and complementary targets within the same system in a single campaign: the near-surface copper oxide zone defined by high-grade trenching from surface, and the main porphyry copper-gold-molybdenum target interpreted at depth beneath the 5.0 km x 2.5 km magnetic anomaly. Drilling is being carried out sequentially, with the four shallow oxide holes being completed first and the three 800-metre porphyry holes to follow.

Ian Gendall, President and CEO of DLP, commented: "The rig is turning at Esperanza. After the work our team has put into this project, including the mapping, the trenching, the geochemistry, the geophysics and the permitting, we are finally putting a drill bit into a 22,500-hectare land package that has never been drilled. We are testing the shallow copper oxide zone first and then we move the program to depth and drill the porphyry target itself. Assays will be released as they come in from the laboratory"

Drilling Underway

Drill rigs and supporting equipment were mobilized to site following receipt of all necessary permits and authorizations. Site preparation, drill platforms and access were completed in advance of mobilization, and the program is now operating continuously.

Esperanza benefits from established regional infrastructure, road access, power and a skilled labour pool across the Arequipa and Moquegua regions, the same infrastructure that supports the district's producing mines, which allowed the Company to mobilize quickly and supports continuous operation of the program.

The first results are expected to come from the four shallow copper oxide holes, with results from the three deep porphyry holes to follow. Laboratory turnaround times are outside the Company's control and can vary with laboratory capacity and sample volumes; accordingly, the Company is not providing a specific date for the receipt or release of assay results and will report them as they become available. The Company will also provide updates on drilling progress as the program advances.

Drill Program Design - Two Targets, One Program

The maiden program has been designed to test both the shallow, potentially near-term copper oxide mineralisation and the large-scale porphyry system interpreted at depth. All hole locations are directly informed by the coincident geophysical, geochemical and alteration datasets that converge on the Esperanza target area (Figure 1).

Target 1 - Near-Surface Copper Oxide Zone (Four Holes, Maximum 150 Metres Each)

Four shallow holes, each to a maximum depth of 150 metres, will test the near-surface copper oxide zone. This zone extends over an area of approximately 300 metres by 700 metres and has been defined by systematic trenching and channel sampling, which returned broad, continuous intervals of copper oxide mineralisation from surface, including:

54 m of 1.53% Cu, including 10 m of 2.29% Cu (see news releases dated March 9, 2026 and March 16, 2026 );

86 m of 0.73% Cu, including 48 m of 1.03% Cu;

96 m of 0.54% Cu, including 58 m of 0.75% Cu;

66 m of 0.66% Cu, including 18 m of 0.98% Cu; and

82 m of 0.62% Cu, including 28 m of 1.33% Cu.

These trench intervals begin at surface and remain open at depth. The four shallow holes are designed to confirm the vertical continuity, thickness and grade of the copper oxide mineralisation below the trenched exposures, and to provide the first material for metallurgical characterisation of the oxide zone. No metallurgical test work has been completed to date, and no assumption should be made regarding the metallurgical response or economic potential of the copper oxide mineralisation.

Target 2 - Main Porphyry Copper-Gold-Molybdenum Target (Three Holes, 800 Metres Each)

Three deep holes, each to a planned depth of 800 metres, will test the main porphyry copper-gold-molybdenum target along the flanks of, and at depth beneath, the 5.0 km x 2.5 km magnetic anomaly, an area of approximately 12.5 square kilometres and one of the largest untested copper-gold footprints in southern Peru.

The porphyry target is supported by an extensive surface geochemical dataset comprising 503 rock chip samples collected systematically across the Project, including:

550 g/t Ag with 4.548% Cu and 141.43 ppm Mo from a single polymetallic vein - the highest-grade silver result returned at Esperanza to date;

7.795 g/t Au with 27.7 g/t Ag and 0.780% Cu from a vein sample, together with 2.353 g/t Au and 2.099 g/t Au;

Copper values of up to 4.558% Cu, with 21 of 55 select samples exceeding 1% Cu and 12 exceeding 2% Cu; and

Molybdenum values of up to 151.97 ppm Mo.

See news releases dated June 25, 2026 and July 28, 2026 for detailed results related to the above.

Figure 1) Drill Collar Locations

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/6456/315119_1f875603648799dd_001full.jpg

A Strategic Position in a Multi-Billion-Tonne Copper District

Esperanza is strategically located within one of the most productive copper belts in Southern Peru, an area that hosts several multi-billion-tonne copper deposits (Figure 2). The Project lies approximately 35 km southwest of Freeport-McMoRan's Cerro Verde mine, one of the largest copper deposits in the world, and immediately south of the Chapi copper mine. The broader southern Peru belt also hosts Anglo American's Quellaveco, Southern Copper's Cuajone and Toquepala mines and the Los Calatos project. Esperanza's proximity to these major copper mines and development projects, combined with its own coincident geochemical and geophysical anomalies, and surface veining and brecciation characteristic of porphyry copper and epithermal gold-silver systems, makes a compelling case for this maiden drill program.

Note: Mineral resources and reserves from nearby properties are not necessarily indicative of the mineralization on the Esperanza property.

Figure 2) Esperanza Property Location

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/6456/315119_1f875603648799dd_002full.jpg

Note: Mineral resources and reserves from nearby properties are not necessarily indicative of the mineralization on the Esperanza property. Sources: 1 2025 Annual Report (10K) - Freeport McMoRan; 2 ASX Announcement - September 24 2015 - Presentation - Los Calatos High Grade Development Option; 3 2025 Ore Reserve and Mineral Resources Report - Anglo American; 4 2025 Annual Report (10K) - Southern Copper; 5 2025 Annual Report (10K) - Southern Copper.

Qualified Person

Mr. Gendall, CEO & President of the Company is the qualified person as defined by National Instrument 43-101. Mr. Gendall has reviewed and approved the technical contents of this news release.

About DLP Resources Inc.

DLP Resources Inc. is a copper-focused development company advancing two 100%-owned projects in southern Peru: Aurora and Esperanza.

Aurora is a large-scale porphyry copper-molybdenum-silver deposit containing a combined open pit and underground indicated resource of 614.84 million tonnes at 0.19% Cu, 0.06% Mo and 2.09 g/t Ag, and an inferred resource of 1,118.80 million tonnes at 0.18% Cu, 0.07% Mo and 1.95 g/t Ag. An independent Preliminary Economic Assessment completed in September 2026 established an after-tax NPV8% of US$2,703 million and an IRR of 18.5%, based on a 17.5-year mine life utilizing open pit and underground mining methods. Aurora's robust production profile contemplates payable production of 90.5 million pounds per year of copper, 37.4 million pounds per year of molybdenum and 1.21 million ounces per year of silver.

Esperanza is an emerging district-scale copper-gold discovery located 35km from Cerro Verde, one of the world's largest copper mines. A 5.0km × 2.5km magnetic anomaly is supported by high-grade surface and trench sampling results, with a maiden drill program commencing on September 20, 2026.

DLP is listed on the TSXV (DLP), on the OTCQB (DLPRF), and on the FSE (J8C).

FOR FURTHER INFORMATION, PLEASE CONTACT:

DLP RESOURCES INC.

Ian Gendall, President and Chief Executive Officer iangendall@dlpresourcesinc.com

Gautam Iyer, VP Corporate Development & Investor Relations gautamiyer@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 the timing of mobilization and commencement of drilling, the planned number, depth and orientation of drill holes, the total metreage of the maiden drill program, the timing of receipt and disclosure of assay results, and the further 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, delays in the mobilization of drill rigs and equipment, weather, ground conditions, drill and laboratory availability, delays in receipt of assay results, changes to the planned scope of the drill program, community and permitting matters, and drill results expected from the Esperanza Project in Peru.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: the permits received remain in good standing; drill rigs, equipment and personnel will be available as scheduled; and the Company will maintain the community and regulatory support required to complete the maiden drill program at Esperanza.

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.

Non-IFRS Measures

This news release refers to certain financial performance measures that are not defined or recognized under International Financial Reporting Standards ("IFRS"), including: after-tax and pre-tax net present value ("NPV") at various discount rates; internal rate of return ("IRR"); payback period from first production; operating costs per tonne milled (including mining, processing, general and administrative, and off-site/refining costs); initial capital cost; sustaining and underground development capital; closure costs; total life-of-mine capital; and total life-of-mine gross revenue. These non-IFRS measures are presented because the Company and its management believe they provide useful information regarding the economic potential of the Aurora Project as contemplated in the PEA and are commonly used by the mining industry and investors to evaluate development-stage projects.

These measures do not have any standardized meaning prescribed under IFRS and may not be comparable to similar measures presented by other companies. They should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. As the Aurora Project is in the development stage, the Company does not currently have IFRS financial measures against which these non-IFRS measures can be reconciled.

For reference, the following definitions apply: NPV is calculated by discounting projected after-tax (or pre-tax, as applicable) free cash flows at the stated discount rate over the life of the mine plan. IRR is the discount rate at which the NPV of the project's after-tax free cash flows equals zero. Payback period is the estimated time to recover the initial capital investment from after-tax operating cash flows. Operating costs per tonne milled represent estimated total operating expenditures divided by total mineralized material tonnes milled over the applicable period or phase. Initial capital cost and sustaining and underground development capital represent the estimated capital expenditures required to construct and operate the project as contemplated in the PEA. Total life-of-mine gross revenue represents the estimated undiscounted gross value of payable metals produced over the Phase 1 mine life, calculated using the commodity price assumptions set out in the PEA, before deduction of smelting, refining, transportation, or royalty costs. All non-IFRS measures presented herein are based on the estimates, assumptions, and inputs described in the PEA and the NI 43-101 Technical Report to be filed on SEDAR+ within 45 days of this news release. Readers are cautioned not to place undue reliance on these measures. See also "Cautionary Note Regarding the PEA and Forward-Looking Information" above.

Additional information relating to the Company can be obtained under the Company's profile on SEDAR+ at www.sedarplus.ca , and on the Company's website at www.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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/315119

TMX Newsfile

September 21, 2026 - 3:00 AM PDT

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