CEO.CA Chairman's Briefing

• Delta has now outlined the Eureka Gold Deposit to a strike length of over 2.5 Kilometres and to a vertical depth of 300 Metres.

• The Eureka Gold Deposit remains open along strike and to depth.

• An 11 meter section of the Eureka Gold Deposit was exposed at surface through mechanical trenching assaying 1.23 g/t Gold over the whole section.

• Delta has Expanded its land position in the Eastern Shebandowan Greenstone Belt to a commanding 30,600 hectares or 306 Sq. kilometres.

• Newly expanded property contains multiple gold-endowed deformation zones spanning a cumulative strike length of over 30 kilometers.

• Planned next drill campaign to include continued expansion of the Eureka Gold Deposit and testing of new gold targets throughout the property.

Kingston, Ontario--(Newsfile Corp. - September 25, 2024) - Delta Resources Limited (TSXV: DLTA) (OTCBB: DTARF) (FSE: 6G01) ("Delta" or "The Company") is pleased to provide a corporate update as it begins its next phase of exploration at the newly expanded Delta-1 Project in Thunder Bay, Ontario.

In October 2022, Delta released the results of its discovery drill hole at the Eureka Gold Deposit (see Press release October 31, 2022) at its wholly owned Delta-1 project (drill hole D1-22-18: 5.92 g/t gold over 31.0 metres, including 14.80 g/t gold over 11.9 metres). The deposit is located approximately 50 kilometres west of the port city of Thunder Bay, Ontario, within close proximity of the Trans-Canada Highway, where abundant infrastructure already exists including power lines, railway tracks and easy year-round road access. Since that time Delta carried out an aggressive drilling program and has now completed 115 drill holes totalling 35,575 metres, including the initial seventeen (17) exploration drill holes before the discovery hole was reported.

Since the discovery hole, the objective of every follow-up drill campaign has been to expand the deposit size to the east, west and at depth, and therefore with the objective of increasing Delta's gold inventory at Eureka, while gaining valuable insight on the controls of the gold mineralization. Delta has now extended the deposit to a strike length of over 2.5 kilometres and a vertical extent from surface to a vertical depth of 300 metres.

Although the Eureka Gold deposit remains at a very early exploration stage, its geological setting, mineralization style and alteration are all reminiscent of the near-surface expression of the Canadian Malartic Deposit located west of Val D'Or, Quebec.

Figure 1: Isometric view of the 3D Block Model looking down and towards the NNE. Since the 2023 Block Model, nearly 10,000 metres of additional drilling has expanded the deposit to a depth of 300 metres and 2.5 kilometres of strike length. 

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Drill Highlights

To access all the drill intercepts for the entire drilling since 2019 at the Eureka Gold Deposit, please consult the Delta website at www.deltaresources.ca with the following link https://www.deltaresources.ca/delta-1-gold-project/.

Figure 2: Map view of the Eureka Gold Deposit showing the position of drill holes and traces, the gold mineralization projected to surface and the alteration corridor of the Shebandowan Structural Zone which hosts the gold deposit.

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The technical team at Delta has integrated all the latest drill data from the first half of 2024 to the current geological 3D model. The team also began a property-scale exploration program to identify new targets on the newly expanded property that now covers a commanding 306 square kilometres of the eastern and central portion of the Shebandowan Greenstone Belt and approximately 35 kilometres of strike length.

Eureka Zone Exposed at Surface

Over the course of the 2024 summer exploration program, Delta was able to expose an eleven (11) metre section of the Eureka Gold Deposit at surface through mechanical trenching (Photo 1).

The exposed section is located above the trace of drill holes D1-23-60 (1.79 g/t Au over 128.5 m), where overburden thickness was estimated to be manageable for excavators. The overburden thickness varied between 2.5 and 3.0 metres and the trench was halted when the thickness exceeded 3.0 metres. In all, the trench exposed a total of 11 metres of the zone across strike. A channel 4 cm wide was cut with a rock saw, averaging 8 cm deep for sampling. The zone was divided in 11 equal samples of 1 metre in length and sent to assay. The complete eleven metres of channel samples returned an average grade of 1.23 g/t Au.

Although the drilling data already clearly indicated that the mineralization is present at surface, this new trench provides Delta's geologists with enhanced geological and structural information.

Photo 1: View of the exposed zone during channel sampling. Looking SW.

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A Commanding Land Position with Potential for Multiple Deposits

Since July 2023, Delta has acquired the exclusive rights to several important and strategic exploration properties adjacent and contiguous to the Eureka Gold deposit with the aim of having a commanding land position in the eastern portion of the Shebandowan greenstone belt. Delta now controls an area covering over 30,600 hectares. The Delta team believes that these acquisitions hold excellent potential for additional gold deposits within proximity to each other. There are no work commitments on any of the properties acquired by Delta allowing the geological team to plan and prioritize its exploration campaign from technical driven data exclusively.

Band-Ore Property

Examples of some of the properties which Delta has acquired include the Band-Ore property which is located approximately twenty (20) kilometres northwest of the Eureka Gold Deposit. The Property hosts two historical high-grade gold resources that are not considered National Instrument 43-101 compliant¹.

Multiple Deformation Zones within the Delta Property Package

Delta acquired properties where it identified areas within the Shebandowan Greenstone Belt with similar geological setting as the Eureka Gold Deposit. These areas consist of fault bounded basins where shear zones unconformably juxtapose Temiskaming-Type sedimentary rocks of the Shebandowan Formation and volcanic rocks of the Greenwater Formation. These shear zones include (amongst others) the Gold Creek and Crayfish deformation zones which are gold-endowed crustal-scale structures that include the newly acquired I-Zone and South Zone, and the Kukkee, AA, T1 and Moose Calf gold occurrences.

An interactive map which can be found at the link below on the Delta website at www.deltaresources.ca provides additional information about all the newly added properties acquired by Delta as well as selected gold occurrences.

Figure 2: Geological map of the Shebandowan Belt showing Delta's newly acquired property package covering 30,600 hectares. Temiskaming-type sediments are shown in yellow and prospective faults are shown as dotted black lines.

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History of the Shebandowan Greenstone Belt (The Inco Mines contribution)

The past-producing Inco Shebandowan Cu-Ni-PGE mine is located immediately north of the Delta-1 Project area. Between 1972 and 1998, Inco mined 9.29 million tonnes at an average grade of 1.75% Ni, 0.88% Cu and 1.83 g/t PGE and during that period, Inco had a stronghold on the belt. The Shebandowan Belt had a reputation as a Copper-Nickel Belt with little attention paid to Gold exploration.

Between late-1987 and 1990, Inco Gold, a subsidiary of Inco, carried-out limited grassroots gold exploration in the Shebandowan Belt and tested a number of areas with shallow drilling, including the I Zone, the South Zone and the Kukkee occurrence. Those gold occurrences were all abandoned by Inco when the Inco Gold Division was merged with Consolidated TVX.

Selected Gold Occurences²

The I-Zone

Between 1988 and 1989, Inco Gold reported a drill intercept of 3.28 g/t Au over 14.6 metres at the I-Zone. Inco Gold also tested gold recoveries during that period with bulk cyanide tests yielding 96.2%.

From 1995 to 1997, Landore Resources followed Inco Gold's exploration at the I-Zone and reported drill intercepts that included the following:

• 4.32 g/t Au over 41m.,

• 4.53 g/t Au over 14.4m.; and

• 4.36 g/t Au over 20.4m.

In 2008, Mengold Resources collected a 1000 kg mini bulk sample which yielded an average grade of 9.9 g/t Au.

The South Zone

Between 1988 and 1989, Inco Gold also drill tested the South Zone where it intersected the following results:

• 0.7 g/t over Au over 39m.,

• 1.63 g/t Au 7.5m.; and

• 3.02 g/t Au over 2.43m (in a chanel sample).

Also at the South Zone, in 2008, Mengold Resources reported a grab sample yielding 293.2 g/t Au, 1090 g/t Ag, 0.81% Pb and 0.07% Cu suggesting the potential for a Polymetallic Gold-Rich mineralization.

The Kukkee Occurrence

Inco Gold also drill tested the Kukkee Zone which included a drill intercept of 1.15 g/t over 15.47 m. and a grab sample of up to 44.5 g/t Au.

These structures are gold endowed and span an area of over a 20 km. Much of the area remains unexplored and untested.

Extensive Till Sampling at Eureka

On July 9, 2024, Delta announced the completion of the field portion of an extensive till sampling program at Delta-1.

The survey consisted of a series of sampling fences spaced at every 1-1.2 km, oriented orthogonal to the dominant local ice-flow direction (here E-W to WNW-ESE). Samples within each fence were spaced by approximately 300 metres. The survey covered the properties held by Delta at the time; an area of roughly 80 km² and consisted of 224 sample sites.

The goal of the 2024 sampling program is to complement and expand on a previous survey carried out in 2020 (see press release August 12, 2020). The 2020 till survey was highlighted by anomalous gold-grain counts that helped define the footprint of the Eureka zone prior to Delta's 2021 and 2022 drilling programs and helped in the discovery of the Delta-1 Gold deposit.

Results of the 2024 survey are still pending.

Metallurgy at the Eureka Zone

Delta is currently carrying out metallurgical work at the Eureka Gold Deposit and results are pending.

Looking Ahead

The Delta technical team is currently compiling all available historical data at the property-scale to delineate initial areas of interest for future exploration.

Once the compilation of historical exploration work is completed and final till results are received, Delta will be field proofing on-site, verifying the accuracy of the compiled data and conducting important and essential field work in advance of its next drill campaign.

Delta is applying for exploration permits where they have not yet been granted on the newly acquired properties. Permits may take up to three months to be issued from the date of application.

Once the field work has been completed, Delta will plan and announce its next drill campaign. Delta's objective will be twofold:

• to increase its current gold inventory at Eureka Gold Deposit which remains open on strike and at depth, and

• to test new drill targets at the property-scale to demonstrate the potential for multiple gold deposits along this already proven and gold endowed greenstone belt.

Qualified Persons

Daniel Boudreau, P.Geo. and Manager of Exploration at Delta Resources Limited, is the Qualified Persons as defined by NI-43-101. He has supervised the drilling program in the field and reviewed the technical information presented in this press release.

About Delta Resources Limited

Delta Resources Limited is a Canadian mineral exploration company focused on growing shareholder value through the exploration of two very high-potential gold and base-metal projects in Canada.

DELTA-1 is Delta's flagship project, where the company is building on a large gold inventory 50 kilometres west of Thunder Bay, Ontario, at surface and adjacent to the Trans-Canada highway. To date, the gold mineralization is defined over a strike length of 2.0 km, from surface to a vertical depth of 250 m. Highlights include drill intercepts such as 5.92 g/t Au over 31 m (incl. 14.8 g/t Au over 11.9 m), and 1.79 g/t Au over 128.5 m. The property covers 306 square kilometres where Delta has identified multiple corridors of intense alteration and deformation, on strike with, and to the south of the Eureka gold zone and that has yet to be thoroughly explored.

The DELTA-2 property covers 205 square kilometres in the prolific Chibougamau District of Quebec. The property holds excellent potential for gold-rich polymetallic VMS deposits as well as hydrothermal-gold deposits. Delta targets VMS deposits such as the LeMoine past producer where 0.76 Mt were mined between 1975 and 1983, grading 9.6% Zn, 4.2% Cu, 4.5 g/t Au and 84 g/t Ag.

Note 1: The Band-Ore mineral resource estimates are considered to be 'historical' in nature and are not compliant with National Instrument 43-101. Neither Golden Share nor Delta have done sufficient work to classify the historical estimates as current mineral resources or mineral reserves in accordance with NI 43-101, however the data is relevant as it is indicative of potential mineralization on the Property. The Band-Ore Main Zone historical resource comes from the Report on Shebandowan Property Conacher Township Thunder Bay Mining Division Ontario for Band-Ore Resources Ltd., effective date February 15, 2006 with lead author David Gunning, which references the following reports: Report on Property of Band-Ore Gold Mines Ltd., Thunder Bay, Ontario, with lead author J.S. Crosscombe, Mining Engineer, effective date May 15, 1947. The Band-Ore No. 4 Zone historical resource comes from 1982 Diamond Drilling Report and Pre-Evaluation Study on the Band-Ore Option Conacher Township Ontario for Mattagami Lake Exploration Ltd. with lead author Karl J. Huska, December 1982.

Note 2: All information from Ontario Assessment files.

ON BEHALF OF THE BOARD OF DELTA RESOURCES LIMITED.

Andre Tessier
President and CEO
www.deltaresources.ca

We seek safe harbor. 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 release. The TSX Venture Exchange has not approved nor disapproved of the information contained herein.

Cautionary Note Regarding Forward Looking Information

Some statements contained in this news release are "forward looking information" within the meaning of Canadian securities laws. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes" or variations of such words and phrases (including negative or grammatical variations) or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof. Investors are cautioned that forward-looking information is inherently uncertain and involves risks, assumptions and uncertainties that could cause actual facts to differ materially. There can be no assurance that future developments affecting the Company will be those anticipated by management. The forward-looking information contained in this press release constitutes management's current estimates, as of the date of this press release, with respect to the matters covered thereby. We expect that these estimates will change as new information is received. While we may elect to update these estimates at any time, we do not undertake to update any estimate at any particular time or in response to any particular event.

DELTA RESOURCES LIMITED
DELTA-1 PROPERTY, THUNDER BAY ONTARIO
TABLE OF HIGHLIGHT RESULTS 2022-2024

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