Doré Copper Mining Corp.

Release Highlights:

• Doré Copper Mining Corp. (TSXV: DCMC; OTCQB: DRCMF; FRA: DCM) is pleased to announce that its shareholders overwhelmingly approved the plan of arrangement with Cygnus Metals Limited, enabling Cygnus to acquire all outstanding Doré Copper shares through its subsidiary. Shareholders will receive 1.8297 Cygnus shares for each Doré Copper share, with the transaction expected to close by December 31, 2024, pending final court and regulatory approvals.
• The Arrangement Resolution received approximately 100% approval from both general and minority shareholders, with 71.50% of issued and outstanding shares voted. Key votes from certain insiders were excluded as per regulatory requirements under Multilateral Instrument 61-101.
• Doré Copper is advancing its goal to become a major copper producer in Québec with plans to produce over 50 million pounds of copper equivalent annually. The company has consolidated significant land holdings in historic mining regions and is developing its hub-and-spoke model centered on the Copper Rand Mill.

Presentation Highlights:

• Doré Copper Mining (TSXV: DCMC) has entered a transformative merger with Cygnus Gold, expanding an existing portfolio of high-grade copper and gold assets with lithium assets and better scale and financing capacities. Doré’s production pipeline and exploration potential now spans both mine-friendly Quebec and a new tier-one jurisdiction in Western Australia.
• The Preliminary Economic Assessment (PEA) showcases a 10.5-year mine life with annual production of 53MM lb of Copper Equivalent (CuEq) concentrate. Supported by a robust 2.98% CuEq grade, the project includes an after-tax NPV of CAD 193MM and a 22.1% IRR, with a payback period of just 4.2 years. At current spot prices, these economics are poised to climb.
• Strategically, the historic Copper Rand mill is poised to process 1,350 tons per day utilizing a profitable hub-and-spoke operation within centralized mills and integrating feed from three high-grade deposits: Corner Bay, Devlin, and Joe Mann. With substantial inferred resources still to be tapped and the addition of Cygnus’ assets in Western Australia, the company is positioned for value creation.

Arrowhead is updating its coverage on Doré Copper Mining Corp. (“Doré Copper” or “DCMC”) with a fair value bracket of CAD 0.46 to CAD 0.62 (Share Price on November 20, 2024 – CAD 0.135) based on a Net Present Value methodology and Comparable Company Analysis.

Report Highlights:

• Doré Copper Mining Corp is an exploration and development company focused on copper and gold in Québec’s Chibougamau region. The company is headquartered in Toronto, Canada.
• The key properties in its portfolio include the Copper Rand property (with the Cedar Bay deposit, Copper Rand mill and tailings facility), the Corner Bay-Devlin property, and the Joe Mann property.
• Doré Copper is implementing a hub-and-spoke development strategy, with its Copper Rand mill as the central hub of operations. The model commences with the underground development of the Devlin and Corner Bay (the primary asset) deposits through existing ramps.
• The Corner Bay project showcased excellent ore sorting and flotation test results confirming that the copper concentrate product will be very low in impurities.
• On October 14, 2024, Doré Copper and Cygnus Metals Limited (ASX:CY5), a lithium-focused exploration company, entered into a merger agreement in which Cygnus Metals will acquire all issued and outstanding Doré Copper shares.
• The merger will enable the combined entity to have a diversified asset portfolio, consisting of both copper and lithium assets, eliminating over-reliance on one commodity. This merger will also result in logistical synergies as Cygnus’ lithium assets are in proximity to Doré Copper’s assets. Additionally, the merger will bring together management with strong capital markets experience, mine-building and operational expertise, and a proven track record of project development and exploration success.
• In July 2024, the company further expanded its asset holdings by acquiring a 56.41% interest in a group of contiguous mining claims located next to its flagship Corner Bay deposit, from SOQUEM JV Property for a cash payment of CAD 20k and CAD 125k worth of shares of DCMC.

Release Highlights:

• Doré Copper Mining Corp. (TSXV: DCMC) has announces the filing and mailing of its management information circular and related materials for the upcoming special meeting of shareholders on December 16, 2024, where shareholders will vote on a statutory plan of arrangement under which Cygnus Metals Limited will acquire all outstanding Doré Copper shares in exchange for 1.8297 Cygnus shares per Doré Copper share, as detailed in the circular.
• The Doré Copper Board and Special Committee have unanimously recommended that shareholders vote in favor of the arrangement, which they believe is in the best interests of Doré Copper and its shareholders, citing a thorough review and advice from financial and legal advisors. Shareholders are encouraged to access meeting materials electronically and vote their shares online, to ensure timely processing.
• Under the proposed arrangement, Cygnus will acquire all issued and outstanding Doré Copper shares, with shareholders receiving 1.8297 fully paid Cygnus ordinary shares for each Doré Copper share, subject to approval conditions, including Cygnus listing its shares on the TSX Venture Exchange. Cygnus Metals has applied for conditional listing approval of its shares on the TSX Venture Exchange, with the transaction expected to create a diversified resource portfolio, combining Doré Copper’s high-grade copper-gold assets in Québec with Cygnus’ lithium and rare earth projects in Canada and Australia.

Release Highlights:

• Doré Copper Mining Corp. (TSXV: DCMC; OTCQB: DRCMF; FRA: DCM) is pleased to announce, further to its news release dated October 15, 2024, an update on the definitive arrangement agreement with Cygnus Metals Limited (ASX: CY5) pursuant to which Cygnus has agreed to acquire 100% of the issued and outstanding common shares of Doré Copper by way of a court approved plan of arrangement under the Canada Business Corporation Act.
• A key obligation in the Agreement has been met with Cygnus having successfully raised a minimum of AUD 5.0M as part of a first tranche (see ASX Announcement dated October 17, 2024).
• Cygnus Metals announced that it has received commitments from institutional and sophisticated investors to raise AUD 11.0M (before costs) through the issue of 152,777,778 fully paid ordinary shares in the Company at an issue price of AUD 0.072 per Share (“Placement”). The Placement was extremely well supported and oversubscribed.

Release Highlights:

• Doré Copper Mining Corp. (TSXV: DCMC; OTCQB: DRCMF; FRA: DCM) is pleased to announce that it has entered into a definitive arrangement agreement on October 14, 2024 with Cygnus Metals Limited (ASX: CY5) to combine their respective businesses in a merger of equals transaction, pursuant to which Cygnus has agreed to acquire 100% of the issued and outstanding common shares of Doré Copper by way of a court approved plan of arrangement under the Canada Business Corporation Act.
• This merger will create a Québec-focused critical minerals explorer and developer with high-grade copper and lithium resources. The merger of equals will bring together proven members of management with strong capital markets experience, project development, mine building and operational expertise and a proven track record of mineral discoveries.
• Cygnus and Doré Copper have agreed to a merger where Doré Copper shareholders will receive 1.8297 Cygnus shares per Doré Copper share, giving Doré Copper an implied equity value of CAD 24 million, with Cygnus raising up to AUD 11 million to advance projects, and the combined company benefitting from geographic synergies, a strong management team, and a dual ASX and TSXV listing.