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Doré Copper Announces up to C$5 Million Non-Brokered Private Placement

Not for distribution to United States news wire services or for dissemination in the United States

TORONTO, Dec. 09, 2020 (GLOBE NEWSWIRE) -- Doré Copper Mining Corp. (the "Corporation" or "Doré Copper") (TSXV: DCMC, OTCQB: DRCMF) is pleased to announce a non-brokered private placement of up to 7,353,000 common shares in the capital of the Corporation (the "Offered Shares") at a price of C$0.68 per Offered Share, which is an 8% discount to the 5-day volume weighted average price, for aggregate gross proceeds of up to C$5,000,040 (the "Offering").

The Corporation intends to use the net proceeds from the Offering to fund project milestone payments, exploration and development activities, and general working capital expenses.

In connection with the Offering, certain arm's-length parties may receive a cash finder's fee payment equal to up to 6% of the gross proceeds of the Offered Shares that are sold to subscribers introduced by such parties, and warrants (the "Finder's Warrants") to purchase that number of common shares in the capital of the Corporation (the "Finder's Warrant Shares") equal to up to 6% of the Offered Shares that are sold to subscribers introduced by such parties, with each Finder's Warrant being exercisable for one Finder's Warrant Share at a price of C$0.68 per Finder's Warrant Share for a period of two years from the date of the closing of the Offering. The finder's fee payment and the Finder's Warrants are subject to the approval of, and will be issued in accordance with the rules of, the TSX Venture Exchange (the "Exchange").

The Offering may be completed in multiple tranches, with the closing of the final tranche expected to occur on or before January 15, 2021. Completion of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the acceptance of the Exchange. The securities issued pursuant to the Offering will be subject to a four month hold period from the date of issuance in accordance with applicable Canadian securities laws.

The Offered Shares have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities law, and may not be offered, sold or delivered, directly or indirectly, within the United States, or to or for the account or benefit of U.S. persons, absent registration or an exemption from such registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful.

About Doré Copper

Doré Copper Mining Corp. is a copper-gold explorer and developer in the Chibougamau area of Québec, Canada. Doré Copper has consolidated a large land package in the prolific Lac Doré/Chibougamau mining camp that has historically produced 1.6 B lbs of copper and 3.2 M oz of gold. In addition, the Company has optioned the high-grade Joe Mann gold mine (historical production 1.17 M oz at 8.26 g/t Au). The land package includes 12 former producing mines, deposits and resource target areas within a 60-kilometre radius of the Company’s 2,700 tpd mill (Copper Rand Mill).

The Company’s objective is to create a profitable hub-and-spoke operation with its high-grade copper-gold assets. The Company’s current focus is to grow mineral resources and sequentially re-develop the high-grade Corner Bay (Cu-Au), Cedar Bay (Au-Cu), Joe Mann (Au), and Copper Rand (Au-Cu) deposits. The Company’s ongoing fully-funded 35,000-metre drilling program for 2020 and early 2021 is expected to lead to an updated mineral resource estimate and a Preliminary Economic Assessment (PEA) in 2021.

For further information regarding Doré Copper, please visit the Company's website at www.dorecopper.com or refer to Doré Copper's SEDAR filings at www.sedar.com.

For further information, please contact:

Laurie Gaborit
VP Investor Relations
Phone: (416) 219-2049
Email: [email protected]

Cautionary Note Regarding Forward-Looking Statements
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the terms of the Offering, the use of proceeds of the Offering, the timing and ability of the Corporation to close the Offering, the timing and ability of the Corporation to receive necessary regulatory approvals, and the plans, operations and prospects of the Corporation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive regulatory approvals; the price of gold and copper; and the results of current exploration. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.


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