Doré Copper Announces Up to $3 Million Non-brokered Private Placement of Common Shares and Flow-through Shares

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TORONTO, May 08, 2023 (GLOBE NEWSWIRE) -- Doré Copper Mining Corp. (the "Corporation" or "Doré Copper") (TSX-V:DCMC; OTCQB:DRCMF; FRA:DCM) is pleased to announce a non-brokered private placement of: (i) up to 8,050,000 common shares in the capital of the Corporation (the "Common Shares") at a price of $0.20 per Common Share for gross proceeds of up to $1,610,000; (ii) up to 833,336 common shares in the capital of the Corporation that will qualify as "flow-through shares" within the meaning of subsection 66(15) of the Income Tax Act (Canada) and section 359.1 of the Taxation Act (Québec) (the "Traditional Flow-Through Shares") at a price of $0.24 per Traditional Flow-Through Share for gross proceeds of up to $200,000.64; and (iii) up to 2,875,000 common shares in the capital of the Corporation that will qualify as "flow-through shares" within the meaning of subsection 66(15) of the Income Tax Act (Canada) and section 359.1 of the Taxation Act (Québec) (the "Charitable Flow-Through Shares" and together with the Traditional Flow-Through Shares, the "Flow-Through Shares") at a price of $0.415 per Charitable Flow-Through Share for gross proceeds of up to $1,193,125, for aggregate gross proceeds to the Corporation of up to $3,003,125.64 (collectively, the "Offering").

The net proceeds from the sale of the Common Shares will be used for exploration and development activities and for working capital and general corporate purposes. The Corporation will use an amount equal to the gross proceeds received by the Corporation from the sale of the Flow-Through Shares, pursuant to the provisions in the Income Tax Act (Canada), to incur, directly or indirectly, expenses ("Qualifying Expenditures") related to the Corporation's projects in Québec, on or before December 31, 2024, that are eligible "Canadian exploration expenses" (as defined in the Income Tax Act (Canada)), which, in the case of the Traditional Flow-Through Shares, will qualify as "flow-through mining expenditures" (as defined in the Income Tax Act (Canada)), and, in the case of the Charitable Flow-Through Shares, will qualify as "flow-through critical mineral mining expenditures" (as defined in the Income Tax Act (Canada)), and renounce all the Qualifying Expenditures in favour of the applicable subscribers of the Flow-Through Shares effective December 31, 2023. In addition, with respect to Québec resident subscribers who are eligible individuals under the Taxation Act (Québec), the Canadian exploration expenses will also qualify for inclusion in the "exploration base relating to certain Québec exploration expenses" within the meaning of section 726.4.10 of the Taxation Act (Québec) and for inclusion in the "exploration base relating to certain Québec surface mining expenses or oil and gas exploration expenses" within the meaning of section 726.4.17.2 of the Taxation Act (Québec).