Doré Copper Announces Closing of C$14.6 Million Bought Deal Private Placement of Common Shares and Flow-Through Shares Including Full Exercise of Underwriters' Option

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TORONTO, June 11, 2021 (GLOBE NEWSWIRE) -- Doré Copper Mining Corp. (the "Corporation" or "Doré Copper") (TSXV:DCMC; OTCQX:DRCMF; FRA:DCM) is pleased to announce that it has closed its previously announced "bought deal" private placement (the "Offering"), pursuant to which the Corporation sold an aggregate of (i) 9,636,050 common shares in the capital of the Corporation (the "Offered Common Shares") at a price of $1.00 per Offered Common Share for gross proceeds of $9,636,050 and (ii) 2,907,000 common shares in the capital of the Corporation that will qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada) and section 359.1 of the Taxation Act (Québec)) (the "Flow-Through Shares") at a price of $1.72 per Flow-Through Share for gross proceeds of $5,000,040, for aggregate gross proceeds to the Corporation of $14,636,090, including the full exercise of the underwriters' option.

Cormark Securities Inc. and Paradigm Capital Inc. acted as underwriters (the "Underwriters") in connection with the Offering pursuant to the terms of an underwriting agreement dated June 11, 2021. In consideration for their services in connection with the Offering, the Corporation paid the Underwriters a cash commission equal to $824,165.40, being 6% of the aggregate gross proceeds from the sale of Offered Common Shares and Flow-Through Shares, and a reduced cash commission equal to 3% of the aggregate gross proceeds from the sale of Offered Common Shares to certain subscribers on the President's List. In addition, the Corporation also paid administrative fees in the amount of $80,000 in respect of three subscriptions under the Offering.

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 eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" as both terms are defined in the Income Tax Act (Canada) (the "Qualifying Expenditures") related to the Corporation's projects in Québec, on or before December 31, 2022, and will renounce all of the Qualifying Expenditures in favour of the subscribers of the Flow-Through Shares effective December 31, 2021. 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).

The Offering was made by way of private placement in each of the provinces of Canada pursuant to applicable exemptions from the prospectus requirements and, in the case of the Offered Common Shares, in certain other jurisdictions, in each case in accordance with all applicable laws. The securities issued under the Offering are subject to a four month hold period under applicable Canadian securities laws which will expire on October 12, 2021. The Offering is subject to final acceptance of the TSX Venture Exchange.

The securities offered 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 Mining Corp.

Doré Copper Mining Corp. is a copper-gold explorer and developer in the Chibougamau area of Québec, Canada. The Corporation is focussed on implementing its hub-and-spoke development strategy by advancing its key high-grade copper-gold brownfield projects towards a restart of operations.

The Corporation has consolidated a large land package in the prolific Lac Dore/Chibougamau and Joe Mann mining camps that has produced 1.6 B lbs of copper and 4.4 M oz of gold. The land package includes 13 former producing mines, deposits and resource target areas within a 60-kilometre radius of the Corporation’s 2,700 tpd mill (Copper Rand Mill).

Doré Copper plans to deliver a preliminary economic assessment (PEA) of its hub-and-spoke model in late 2021. Currently, the Corporation is completing a 16,500-metre drilling program at its Corner Bay (Cu-Au) project which will lead to an updated mineral resource estimate in early Q3 2021. In addition, Doré Copper is expected to have a maiden mineral resource estimate for the former producing Joe Mann mine (Au-Cu) by end of June 2021.

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

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 use of proceeds of the Offering, the timing and ability of the Corporation to receive necessary regulatory approvals, including the final acceptance of the Offering from the TSX Venture Exchange, the renunciation to the purchasers of the Flow-Through Shares and timing thereof, the tax treatment of the Flow-Through Shares, 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.