Doré Copper Mining Corp.

Presentation Highlights:

• Doré Copper Mining (TSXV: DCMC) is advancing to become Québec’s next copper producer, with significant support from the Québec government and strong brownfield assets in the Tier 1 Chibougamau mining jurisdiction. The company has existing infrastructure, including the Copper Rand Mill and tailings facility, and is positioned as a key player in the prolific Chibougamau mining camp.
• With an experienced team and decades of mining experience, Doré is implementing its profitable hub-and-spoke model, focusing on expanding its project pipeline and feeding the Copper Rand Mill with high-grade yield. Doré is progressing towards a feasibility study and aims to achieve an initial production target of over 50Mlbs of copper equivalent annually.
• Doré’s positive Preliminary Economic Assessment (PEA) highlights a 10.5-year mine life with an average production of 53Mlbs of copper equivalent annually. The PEA shows an after-tax NPV8% of CAD 193 million and an IRR of 22.1%, with low all-in sustaining costs (AISC) of USD 2.24/lb CuEq. These copper and gold assets are among the highest-grade projects in North America.

Release Highlights:

• Doré Copper Mining Corp. is pleased to announce its non-brokered private placement, raising approximately CAD 4.676M through the sale of 20,960,955 common shares and 12.9 million flow-through shares, with the offering being oversubscribed.
• The net proceeds will be used for exploration, development activities, feasibility studies, permitting, working capital, and corporate purposes, with the flow-through share proceeds dedicated to qualifying exploration expenses for projects in Québec.
• Ocean Partners UK Limited and Equinox Partners Investment Management, LLC, both insiders of the Corporation, participated in the offering, and the transaction is subject to final acceptance by the TSX Venture Exchange.

Presentation Highlights:

• Doré Copper Mining is advancing its goal to become one of the leading copper producers in Quebec. Key milestones include the completion of a preliminary economic assessment (PEA) in 2024 and progressing towards a feasibility study in 2025. The company aims to achieve an initial production rate of 1,350 tons per day from its high-grade copper-gold assets, including Corner Bay, Devlin, and Joe Mann.
• The financial outlook for Doré Copper is robust, with an after-tax internal rate of return (IRR) for the PEA of 22.1% under base case conditions and 29.4% in a spot price scenario. Initial capital costs are estimated at CAD 180.6 million, with additional CAD 402.4 million required for sustaining capital over the mine’s life. Operating costs are projected at CAD 186 per tons, underscoring the project’s economic strength.
• Doré Copper has established a significant resource base of 9.15 million tons with average grades of 2.61% copper, 0.59 g/t gold, and 2.98% copper equivalent (CuEq). With its Copper Rand mill ready, the company targets first production in 2027. Environmental permitting and community engagement are also progressing to support a sustainable development approach.

Release Highlights:

• Doré Copper Mining Corp. successfully extended the Southwest Zone of the Cedar Bay copper-gold mine with two new drill holes, revealing significant copper mineralization and alteration indicative of larger mineralized zones.
• Drill results include 1.6 meters of 1.06% copper and 20.7 g/t silver in hole CDR-24-09, and 0.40 meter of 1.70% copper and 2.03 g/t gold in hole CDR-24-10, both intersecting strong alteration in shear zones.
• Doré has received a CAD 182,000 grant from the Government of Québec for the drilling program and plans to conduct downhole geophysics to explore further potential along the structure.

Release Highlights:

• Doré Copper Mining Corp. has entered an agreement with SOQUEM to acquire a 56.41% interest in a group of 17 claims located immediately north and east of its flagship Corner Bay high-grade copper project in Chibougamau, Québec.
• The acquired Claim Group has significant historical exploration data, including several high-grade copper drill intercepts, and presents a potential northern extension of the Corner Bay deposit, which could provide an additional 800 meters along strike for exploration.
• The terms of the agreement include a CAD 20,000 cash payment and CAD 125,000 in common shares to SOQUEM, along with additional payments contingent on future mineral resource estimates and commercial production, subject to the approval of the TSX Venture Exchange.

Release Highlights:

• Doré Copper Mining Corp. announced that all matters presented to shareholders at the Annual and Special Meeting on June 20, 2024, in Thunder Bay, Ontario, were approved, including the election of directors and the reappointment of Ernst & Young LLP as auditors.
• The newly elected board of directors includes Mario Stifano (Chair), Ernest Mast (President and CEO), Frank Balint, Joseph de la Plante, Sara Heston, Martha Manuel, and Brent Omland, along with the approval of the Corporation’s omnibus share incentive plan.
• Doré Copper aims to become a leading copper producer in Québec, targeting over 50 million pounds of copper equivalent annually, with a centralized Copper Rand mill and a large land package in the Lac Doré/Chibougamau and Joe Mann mining camps.

Arrowhead is initiating coverage on Doré Copper (Doré, DCMC, or the Company) with a fair value bracket of CAD 0.61 to CAD 0.95 per share (share price on June 11th, 2024: CAD 0.11) derived using a blend of Relative Valuation (RV) and Discounted Cash Flow (DCF) methodologies.

Report Highlights:

• Doré Copper Mining Corp. (Doré Copper) is a Canadian exploration and development company based in Toronto. The company is focused on copper and gold in the Chibougamau area of Québec. Through its subsidiary CBAY Minerals Inc., it holds a substantial land portfolio of 13 past-producing mines, deposits and potential resource areas spanning 60 kilometers (km) around its Copper Rand mill. This portfolio has yielded 1.6 billion (bn) pounds (lbs) of copper (Cu) and 4.4 mn ounces (oz) of gold (Au).
• Doré Copper is implementing a hub-and-spoke development strategy, with its Copper Rand mill as the central hub. The company aims to reach an initial production goal exceeding 50 mn pounds of copper equivalent (or 100,000 ounces of gold equivalent). To achieve this, it has completed a preliminary economic assessment (PEA) and is now moving forward with a feasibility study.
• Doré Copper’s hub-and-spoke model sequences the development of the Devlin, Corner Bay, and Joe Mann deposits through the central Copper Rand mill, offering lower risk, capital needs, and permitting requirements, plus an integrated project pipeline. The project is in mid-latitude Quebec in an established mining area with excellent infrastructure.
• The company has several high-grade copper and gold exploration targets, including Cedar Bay, Doré Ramp, Gwillim, and Joe Mann. For instance, the most recent drilling campaign at Gwillim intersected shallow mineralization grading up to 16.51 grams per ton (g/t) Au over 2.3 meters.
• In January 2024, DCMC exercised its right to acquire a 65% interest in the SOQUEM Joe Mann joint venture property, comprising 69 claims totaling 3,029.6 hectares, from Ressources Jessie Inc. for CAD 300K and 3.33 mn shares. This provides DCMC with a controlling interest in the area surrounding the former high-grade Joe Mann gold mine, which includes numerous identified gold occurrences and mineralized zones. One of them, the Norhart mineralized zone, consists of five parallel quartz vein structures approximately 1 km from the former Joe Mann mine.
• The company has solid support from its two largest shareholders (owning approximately 54% of the outstanding shares) who are committed to the development of the project.
• The Corner Bay project showcased excellent ore sorting and flotation test results confirming that the copper concentrate product will be very low in impurities.

Presentation Highlights:

• Doré Copper’s wholly owned site is strategically located in the Chibougamau mining camp, a prime mining jurisdiction with strong support from the Quebec government, which includes existing infrastructure such as the Copper Rand Mill, tailings, and mine facilities.
• Preliminary Economic Assessment (PEA) indicates a 10.5-year mine life with a projected average production of 53 million pounds of copper equivalent per year and an all-in sustaining cost (AISC) of USD 2.24 per pound of copper equivalent, along with high-grade copper and gold projects that offer significant exploration potential and low operating costs.
• The project is led by a highly experienced team with decades of mining and operational expertise, supported by an advisory board of industry veterans and strong financial backing from key shareholders, with high insider ownership at 7%.

This is an executive summary on Quebec-based and TSXV-listed copper and gold exploration and development company Doré Copper Mining from President and CEO Ernest Mast, who will run you through Doré’s slide deck.

This is a short executive summary on Quebec-based and TSXV-listed copper and gold exploration and development company Doré Copper Mining from President and CEO Ernest Mast.