Doré Copper Announces Closing of $2.8 Million Non-Brokered Private Placement of Common Shares and Flow-Through Shares - Seite 2

The net proceeds from the sale of the Offered 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).

Mario Stifano, the Executive Chairman of the Corporation, Ernest Mast, the President and Chief Executive Officer and a director of the Corporation, 1974899 Ontario Ltd. ("1974899"), a corporation wholly-owned by Gavin Nelson, the Chief Financial Officer of the Corporation, and funds managed by Equinox Partners Investment Management, LLC ("Equinox Partners"), an insider of the Corporation, subscribed for 125,000 Offered Common Shares, 208,334 Traditional Flow-Through Shares, 100,000 Offered Common Shares and 500,000 Offered Common Shares, respectively, under the Offering on the same terms as arm's length investors. Additionally, the Corporation understands that funds managed by Equinox Partners were party to an arrangement with the initial subscribers of the Charitable Flow-Through Shares or donees thereof, pursuant to which funds managed by Equinox Partners purchased 2,875,000 common shares in the capital of the Corporation. The participation of Messrs. Stifano and Mast, 1974899 and Equinox Partners in the Offering constitutes a "related party transaction" for the purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Corporation is exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the Offering in reliance on sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101, as neither the fair market value of the securities issued to the related parties nor the fair market value of the consideration for the securities issued to the related parties exceeds 25% of the Corporation's market capitalization as calculated in accordance with MI 61-101. The Corporation did not file a material change report more than 21 days before the expected closing date of the Offering as the aforementioned insider participation had not been confirmed at that time and the Corporation wished to close the Offering as expeditiously as possible.