Doré Copper Reports More High-Grade Copper Results From Expansion Drilling at Its Corner Bay Copper-Gold Project

TORONTO, Feb. 08, 2023 (GLOBE NEWSWIRE) — Doré Copper Mining Corp. (the “Corporation” or “Doré Copper“) (TSXV: DCMC; OTCQX: DRCMF; FRA: DCM) is pleased to announce additional high-grade copper results from its completed 2023 drilling campaign at its flagship Corner Bay property, located in the Chibougamau mining camp, approximately 40 kilometers by road from Chibougamau, Québec.

The 2023 drilling program totaled 41,063 meters in 43 holes (including wedge holes). Doré Copper is reporting today the results from five holes. The Corporation expects to receive assays for the remaining six holes of the program towards the end of February.

The drill results reported today have successfully expanded the copper-gold mineralization at Corner Bay in two areas of the deposit and will be incorporated, along with the results released on January 19, 2023 and the other pending results, into an updated Mineral Resource estimate for Corner Bay for the preliminary economic assessment (“PEA”) anticipated at the end of the first quarter of 2023.

High-Grade Drilling Highlights

Main Vein above dyke (Figure 1)

• 3.9 meters of 8.03% Cu, 0.86 g/t Au, 42.1 g/t Ag, and 1,109 ppm Mo (hole CB-21-55)
• 4.2 meters of 6.18% Cu, 0.12 g/t Au, and 26.6 g/t Ag (hole CB-21-57) – extends mineralization 250 meters downdip from intercept 3.7 meters of 9.41% Cu, 2.84 g/t Au, 36.5 g/t Ag, and 890 ppm Mo in hole CB-21-52 (previously reported)
• Results pending from three other mineralized holes that will further expand the Main Vein above dyke along strike and at depth

Ernest Mast, President and CEO of Doré Copper, commented, “With these impressive high-grade copper intercepts, which are much higher than the approximate 3% average copper grade of the deposit, we have now defined a very high-grade zone of approximately 150 meters in length by 250 meters vertical within a key area of the deposit. The addition of this zone and the recently announced zone connecting the Main Vein below the dyke to the Lower Deep Lens is expected to add at least 1 million tonne to the current high-grade mineral resources and enhance our hub and spoke operation model with Corner Bay as its main mine. Our 2023 drilling program, already underway, includes approximately 45,000 meters of infill drilling at Corner Bay to upgrade the Inferred Resource to Indicated Resource for the feasibility study that will commence after the completion of the PEA at the end of Q1 2023.”

Corner Bay Drilling Program

In the Main Vein above the dyke, today’s results from holes CB-21-53 (2.0 meters of 3.34% Cu and 15.6 g/t Ag), CB-21-55 (3.9 meters of 8.03% Cu, 0.86 g/t Au, 42.1 g/t Ag, and 1,109 ppm Mo), CB-21-57 (4.2 meters of 6.18% Cu, 0.12 g/t Au, and 26.6 g/t Ag) in combination with hole CB-21-52 (previously announced, 3.7 meters of 9.41% Cu, 2.84 g/t Au, 36.5 g/t Ag, and 890 ppm Mo) have defined a very high-grade copper zone of approximately 150 meters of strike length by 250 meters of vertical depth (Figure 1 and Table 1). This high-grade zone overlaps with the upper part of the Main Vein below the dyke and is still open down plunge.

In addition, holes CB-21-54 and CB-21-56 further confirmed that the mineralized area between the Main Vein below the dyke and the Deep Main Lens is continuous (Figure 2 and Table 1). This is another new area of 200 meters of strike length and approximately 300 meters of vertical extension that will be included the Mineral Resource update for the PEA.

The 2023 drilling program has successfully continued to expand the copper-gold mineralization at Corner Bay in three areas of the deposit (Figure 3), bringing the total strike length to over 1,100 metres.

Table 1. Corner Bay Drill Assays Highlights from the 2023 Drill Program

1. The true width of the structures intersected is estimated at approximately 60-75% of the downhole width.

Corner Bay Deposit

In the Mineral Resource estimate of October 6, 2023, the Corner Bay deposit contains an Indicated Resource of 2.66 Mt at 2.68% Cu and 0.26 g/t Au containing 157 million pounds of copper and 22,000 ounces of gold and an Inferred Resource of 4.54 Mt at 3.20% Cu and 0.27 g/t Au containing 320 million pounds of copper and 39,000 ounces of gold, based on a cut-off grade of 1.3% Cu and a copper price of US$3.75 per pound (refer to Technical Report dated November 10, 2023)².
The Corner Bay deposit is hosted by the intrusive Lac Doré Complex on the southern flank of the Chibougamau anticline. A regional north-northeastern diorite dyke also cuts the area. Several significant shear zones oriented north-south and northwest-southeast have been identified in the area. The Corner Bay area is characterized by copper porphyry style mineralization and by copper mineralization in shear zones commonly associated with dykes related to the Chibougamau Pluton.

Drilling and Quality Control

The Company is using Miikan Drilling as the drilling contractor. Miikan is a joint venture between Chibougamau Diamond Drilling Ltd., the First Nations community of Ouje-Bougoumou and the First Nations community of Mistissini both located in the Eeyou Istchee territory.

Sample preparation was done at SGS Canada Inc. in Val-d’Or, Québec, and fire assay and ICP analysis was done at SGS Canada Inc. in Burnaby, B.C. Samples were weighed, dried, crushed to 75% passing 2 mm, split to 250 g, and pulverized to 85% passing 75 microns. Samples were then fire assayed for Au (50 g) and sodium peroxide fusion ICP-MS finish for 34 elements.

QA/QC is done in house by Doré Copper Geologists with oversight from the Exploration Manager. The check samples (blanks and standards – 4% of total samples with another 2% of core duplicates) that were inserted into the sample batches are verified against their certified values and are deemed a pass if they are within 3 standard deviations of the certified value. The duplicates are evaluated against each other to determine mineralization distribution (nugget). If there are large discrepancies in the check samples, then the entire batch is requested to be re-assayed.

Andrey Rinta, P.Geo., the Exploration Manager of the Corporation and a “Qualified Person” within the meaning of National Instrument 43-101, has reviewed and approved the technical information contained in this news release.

About Doré Copper Mining Corp.

Doré Copper Mining Corp. aims to be the next copper producer in Québec with a production target of +50 Mlbs of copper equivalent annually by implementing a hub-and spoke operation model with multiple high-grade copper-gold assets feeding its centralized 2,700 tonnes per day mill. The Corporation is expected to deliver a PEA at the end of the first quarter of 2023 and then initiate a feasibility study and permit applications.

The Corporation has consolidated a large land package in the prolific Lac Doré/Chibougamau and Joe Mann mining camps that has produced 1.6 billion pounds of copper and 4.4 million ounces of gold¹. The land package includes 13 former producing mines, deposits and resource target areas within a 60-kilometre radius of the Corporation’s Copper Rand Mill.

For further information, please contact:

For more information, please visit: www.dorecopper.com

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LinkedIn: Doré Copper Mining Corp.
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1. Sources for historic production figures: 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 mining camp) and NI 43-101 Technical Report on the Joe Mann Property dated January 11, 2016 by Geologica Groupe-Conseil Inc. for Jessie Ressources Inc. (Joe Mann mine).
2. The Technical Report on the Corner Bay-Devlin Property, Northwest Québec, Canada dated November 10, 2023 was prepared by Luke Evans, M.Sc., P.Eng. and Marie-Christine Gosselin, B.Sc., P.Geo., of SLR Consulting (Canada) Ltd., both “Independent Qualified Persons” as defined by NI 43-101.

Cautionary Note Regarding Forward-Looking Statements
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “forecast”, “expect”, “potential”, “project”, “target”, “schedule”, “budget” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions and includes the negatives thereof. Specific forward-looking statements in this press release include, but are not limited to, expecting to receive assays for the remaining six holes of the program towards the end of February; adding at least 1 million tonne to the current high-grade mineral resources;2023 drilling plans include approximately 45,000 meters of infill drilling at Corner Bay; PEA at the end of Q1 2023; implementing a hub-and spoke operation model; and initiating a feasibility study and permit applications after the PEA.

All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the timing and ability of the Corporation to receive necessary regulatory approvals, and the plans, operations and prospects of the Corporation and its properties are forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to, actual exploration results, changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or inability to receive required regulatory approvals, health emergencies, pandemics and other exploration or other risks detailed herein and from time to time in the filings made by the Corporation with securities regulators. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. 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. The Corporation disclaims 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 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 news release.

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