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Delta Drills 15.94 g/t over 10 metres at Delta-1, in Thunder Bay, Ontario

The objective of this drill campaign is twofold:

1. To fill in gaps from Delta's previous drilling within a mineral envelope already identified within a 2km strike and 250 metre vertical depth to further increase the overall mineral inventory and,
2. Exploration drill holes to the east, west and further depths to demonstrate the potential of significantly expanding the mineral envelope.

Highlights:

• Drill Hole D1-24-90 intersected 15.94 g/t gold over 10.0 metres,

• Drill Hole D1-24-87 intersected 1.66 g/t over 10.5 metres,

• Drill Hole D1-24-88 intersected 1.05 g/t over 12.2 metres,

• Drill Hole D1-24-89 intersected 1.03 g/t over 16.1 metres,

• Drill Hole D1-24-34ext intersected 1.09 g/t over 21.0 metres.

André Tessier, President, and CEO commented: "We are extremely pleased with these initial results from our 2024 drill campaign at the Delta 1 Gold deposit in Thunder Bay, Ontario. These results are a great way to start the year at Delta. Once more, the gold zones continue to show continuity and homogeneity. Drill hole D1-24-90 was especially excellent with high grades that are sure to help the economics of the deposit. We look forward to additional results from the current ongoing campaign."

Complete results from the first four (4) drill holes and one (1) drill hole extension are provided in Table 1 below. The 2024 drill campaign is ongoing with final assay results still pending.

TABLE 1: Table of new drilling results at the Delta-1 Project; February 29, 2024.

Figure 1: Map showing the location of the drill holes reported in this release.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8482/200024_f9e7566464e2ba41_002full.jpg

Detailed Results:

• Drill Hole D1-24-90 (figure 2) was designed to intersect the gold zone 50 metres up-dip from the intercept of drill hole D1-23-67 which previously assayed 0.66 g/t Au over 40.20 metres including 0.95 g/t Au over 20.2 metres. The hole intersected several gold zones including a high-grade zone grading 15.94 g/t gold over 10.0 metres including 57.80 g/t Au over 1.0 m. and 99.4 g/t Au over 0.90 metres.

It appears the gold zone is dipping shallowly towards the south, at this section, in contrast to the steep north dip in sections to the west. The current interpretation is that the gold zone may have been rotated along NE-trending structures. If the zone continues eastward with this dip, it is possible the drill holes completed in the "deep blue" low magnetic anomaly in 2023 may have been drilled down-dip, therefore missing the zone.

• Drill Hole D1-24-87 (figure 3) was designed to intersect the gold zone 50 metres up-dip from the intercept of drill hole D1-23-33 which previously assayed 1.15 g/t Au over 89.70 metres. The hole intersected multiple gold zones starting at 30 metres vertical depth with intercepts of 1.66 g/t Au over 10.5 metres and 1.23 g/t Au over 5.4 metres. Drill Hole D1-24-87 also intersected the Gamma Zone at 70 metres vertical depth with 18.5 metres grading 1.23 g/t gold. Drill hole D1-24-87 also intercepted a narrow but high-grade zone of 22.30 g/t Au over 0.8 metres at a vertical depth of approximately 130 metres.

• Drill Hole D1-24-88 (figure 4) was designed to intersect the gold zone 60 metres up-dip from the intercept of drill hole D1-23-65 which previously assayed 1.39 g/t Au over 35.50 metres. The drill hole appears to have overshot the Beta Gold Zone but successfully intersected the Gamma Zone starting at 85 metres vertical depth with an intercept of 1.05 g/t Au over 12.20 metres, including 7.24 g/t Au over 0.90 metres.

• Drill hole D1-24-34 Extension (figure 3) deepened drill hole D1-23-34, which previously assayed 109.0 metres grading 0.86 g/t Au, was extended by 206.7 metres to test the extent of the Beta gold zone at depth. The extension, drill hole D1-24-34 Extension, successfully extended the Beta Zone with an intercept 51.7 metres grading 0.69 g/t gold including a 21.0 metre section grading 1.09 g/t gold. Drill hole D1-24-34 Extension also successfully intersected the Gamma Zone at a 200 metres vertical depth with an intercept of 7.1 metres grading 1.17 g/t gold. Combined, the intercepts of D1-23-34 and D1-24-34 Extension amount to 0.76 g/t gold over 163.0 metres from 30 metres vertical depth, including sections of 1.31 g/t over 42.5 metres, 1.11 g/t gold over 26.5 metres and 1.09 g/t gold over 21.0 metres.

• Drill hole D1-24-89 (figure 5) was designed to test the Gold Zone 130 metres below the intercepts of drill hole D1-23-39 and 180 metres below drill hole D1-23-38. The section is complex, with the mineralized zone being partially diked-out. Nonetheless, the hole successfully extended the zone to a vertical depth of 210 metres below the dike, with intercepts of 0.42 g/t gold over 19.0 metres and 1.05 g/t gold over 6.0 metres.

Geological Discussion

The Delta-1 project is located in the Shebandowan Greenstone Belt and covers a 19 km strike extent of the Shebandowan Structural Zone. Gold mineralization at Eureka, occurs within a broad corridor of highly altered (ankerite-calcite-silicification and albitization) rocks exhibiting highly anomalous gold values of up to 0.2 g/t gold. Higher-grade mineralization within this corridor is associated with a stockwork of quartz-ankerite-pyrite-gold veinlets, with increased density of these veinlets generally proportional to increased gold grade. The gold mineralized zones have so far been intersected for a strike of approximately 2.3 kilometres, with a higher-grade segment extending for nearly 950 metres. So far, the mineralized zone extends from surface to a vertical depth of approximately 250 metres. Mineralization strikes approximately 100 to 120 degrees azimuth, with a dip of 75-80 degrees north (shallower dips of 50N are observed in the western portion of the zone). Higher-grade, wide ore shoots are observed and appear to be plunging approximately 40 degrees towards the west, within this structural corridor. Similar ore shoots are often observed in structurally controlled gold deposits and often occur with a certain periodicity. The currently defined ore shoots are open at depth.

Analytical Protocol and QA/QC

Chemical analyses reported in this press release were performed at AGAT Laboratories. AGAT Laboratories is accredited to ISO 17025 by the Standards Council of Canada (SCC). Sample preparation was performed in Thunder Bay, Ontario. Sampling and analytical procedures are subject to a comprehensive Quality Assurance and Quality Control program that includes duplicate samples, blanks, and analytical standards.

The following assaying protocol was adopted at Delta-1 to reduce the assay variability due to nugget effect caused by visible gold:

• If visible gold is observed in the sample or within the assumed mineralized zone, the assay is performed by Metallic Screening whereby the entire sample is crushed, a 1 kg portion is pulverized and screened to 106µm and analyzed by 50 g fire assay with gravimetric finish at the AGAT Laboratory in Thunder Bay, Ontario.
• If no visible gold is observed or outside of the mineralized zones, an initial assay is performed by 50 g Fire Assay with ICP-OES finish at the AGAT Laboratory in Thunder Bay, Ontario. If the assay result exceeds 2.0 g/t gold, remaining rejects are pulverized, a 1 kg portion is screened to 106µm and analyzed by 50 g fire assay with gravimetric finish at the AGAT Laboratory in Thunder Bay, Ontario.

NQ-size drill core was sawed in half lengthwise and half of the core was sampled and sealed in clean plastic bags before being shipped for assay. The remaining half of the core was replaced in core boxes and is stored at Delta's core storage facilities. Standards and blanks are inserted in the sequence of samples on site as quality assurance and quality control in addition to the regular insertion of blank, duplicate, and standard samples accredited by SGS Canada Minerals Laboratories during the analytical process.

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.

Ontario Junior Exploration Program

Delta Resources would like to acknowledge the financial support provided by the Ontario Government via the Ontario Junior Exploration Program ("OJEP"). Delta will be receiving up to $200,000 upon completion of its exploration program at Delta-1.

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 gold ounces 50 kilometres west of Thunder Bay, Ontario, at surface and adjacent to the Trans-Canada highway. To date, the gold mineralization is defined over 1.8 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 107 square kilometres and Delta has identified a 5 km long corridor of intense alteration and deformation at the property, on strike with the gold zone, that has yet to be thoroughly explored.

The DELTA-2 property covers 194 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.

Figure 2 Vertical section looking east, showing the intercept of drill hole D1-24-90.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8482/200024_f9e7566464e2ba41_003full.jpg

Figure 3 Vertical section looking east, showing the intercepts of drill holes D1-24-34Ext and D1-24-87.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8482/200024_f9e7566464e2ba41_004full.jpg

Figure 4 Vertical section looking east, showing the intercept of drill hole D1-24-88.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8482/200024_f9e7566464e2ba41_005full.jpg

Figure 5: Vertical section looking east, showing the intercept of drill hole D1-24-89.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8482/200024_f9e7566464e2ba41_006full.jpg

ON BEHALF OF THE BOARD OF DELTA RESOURCES LIMITED.

Andre C. Tessier
President, CEO and Director
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.

For Further Information:

Contact Delta Resources Limited

Frank Candido, Chairman
Tel: 514-969-5530
fcandido@deltaresources.ca
or
Andre Tessier, President and CEO
Tel: 613-328-1581
atessier@deltaresources.ca

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/200024