Doré Copper Increases Size of its Joe Mann Property by Acquiring a 65% Interest in 3,030 Hectares

TORONTO, Jan. 22, 2024 (GLOBE NEWSWIRE) -- Doré Copper Mining Corp. (the "Company" or "Doré Copper") (TSXV: DCMC; OTCQX: DRCMF; FRA: DCM) is pleased to announce that it has exercised its right to acquire a 65% interest in certain claims subject to a joint venture with SOQUEM (the "SOQUEM JV Property"), which surround and are adjacent to the Company's 100% owned Joe Mann Property, pursuant to an earn-in option agreement (the "Option Agreement") dated January 2, 2020, as amended October 28, 2022, between the Company and Ressources Jessie Inc. ("Ressources Jessie"). SOQUEM holds the remaining 35% interest in the SOQUEM JV Property.

In accordance with the terms of the Option Agreement, Ressources Jessie will transfer its 65% interest in the SOQUEM JV Property, comprising 69 claims totaling 3,029.6 ha, to the Company for $300,000 in cash and 3,333,333 common shares of the Company at a deemed price of $0.12 per common share, representing $400,000 in common shares. Following this acquisition, the Company has a controlling interest in a contiguous group of claims totaling 6,209.2 ha surrounding the former high-grade Joe Mann gold mine (Figure 1) and part of the southern Chibougamau Camp where Northern Superior Resources Inc. and IAMGOLD Corporation have significant gold mineral resources (Figure 2).

The acquisition is subject to the acceptance of the TSX Venture Exchange. The common shares issued in connection with the acquisition are subject to a four month hold period under applicable Canadian securities laws which will expire on May 23, 2024.

Ernest Mast, President and CEO of Doré Copper, commented, “With this transaction, we have consolidated a large contiguous group of claims around the former Joe Mann mine in the prolific southern Chibougamau camp. Most of the SOQUEM JV block has not been explored since the late 1990s and numerous gold targets remain to be evaluated on the property. We are looking forward to work with SOQUEM and we plan to commence a detailed review of the historical work and use new geological interpretations to generate high quality exploration targets.”

Exploration Potential on the SOQUEM JV Property

The Company’s contiguous group of claims (Figure 1) is located in the eastern part of the Abitibi Greenstone belt within the upper part of the Obatogamau Formation, within a major deformation corridor known as the Opawica-Guercheville shear zone. The Company has a 100% interest in the former Joe Mann mine, which produced 1.12 million ounces of gold at an average grade of 8.26 g/t from the 1950s to 2007.¹ The deposit has an inferred mineral resource of 680,000 tonnes grading 6.78 g/t Au and 0.24% Cu, which was included in the Company's Preliminary Economic Assessment (PEA) of its hub-and-spoke operation announced on May 10, 2022.²