Slide 1: Preliminary Economic Assessment Aurora Cu-Mo-Ag Project – Phase 1
Cusco AURORA Arequipa PRELIMINARY ECONOMIC ASSESSMENT ESPERANZA AURORA CU-MO-AG PROJECT – PHASE 1 IAN GENDALL, CEO & PRESIDENT GAUTAM IYER, VP CORPORATE DEVELOPMENT & IR TECHNICAL COMMITTEE DEREK WHITE RICK ZIMMER JOE PHILLIPS INVESTOR WEBCAST: SEPTEMBER 1, 2026 DLP: TSXV | DLPRF: OTCQB | J8C: FSE D
Slide 2: Forward Looking Statements
Forward Looking Statements Cautionary Note Regarding Technical Information Preliminary Economic Assessment The Preliminary Economic Assessment ("PEA") described in this presentation is preliminary in nature. The PEA includes inferred mineral resources that are considered too speculative geologically
Slide 3: Forward Looking Statements
Forward Looking Statements Forward-looking information is subject to a number of risks and uncertainties, many of which are beyond the Company's control. Actual results, performance, or achievements could differ materially from those projected in the forward-looking information as a result of factor
Slide 4: Aurora: Investment Highlights
Aurora: Investment Highlights PEA designed to maximize after-tax economics and capital efficiency on initial invested capital 1› Initial scale and mine-life Phase 1 mineralized material mined: 402.9 Mt or ~30% of known resources providing an initial mine life of 17.5 years and significant opportunit
Slide 5: PEA at a Glance
PEA at a Glance 100%-owned, Tier 1 and district-scale (12,500 Ha) in a proven mining district. N PEA After-Tax Economics Aurora deposit NPV8% IRR Payback $2,703 18.5% 5.2 Million Dollars Years PEA Operational Highlights Mine Life Initial CAPEX Throughput 17.5 $2,377 65,000 Years USD M Tonnes per day
Slide 6: Location & Infrastructure
Location & Infrastructure Ideally located with easy road and rail access N Infrastructure options Peru Aurora Aurora › Aurora to Huacapuy: 124km paved Lima Urubamba & unpaved road Esperanza Huacapuy Las Bambas › Huacapuy Train Terminal to Los Chancas Matarani port by rail – 689km Constancia › Aurora
Slide 7: A Deliberate, Phased Development Approach
A Deliberate, Phased Development Approach Designed to maximize after-tax economics and capital efficiency on initial invested capital 1 High-Value 2 Financeable 3 Expandable Focus the initial 17.5-year Structure a compelling, Preserve a clearly defined mine plan on the highest- financeable standalon
Slide 8: Updated Mineral Resource Estimate
Updated Mineral Resource Estimate Substantially increased resource estimate with increased confidence Tonnes Cu Mo Ag CuEq CuEq Classification (Mt) (%) (%) (g/t) (%) (Mlbs) Open Pit — NSR cut-off US$6.9/t milled Indicated 382.58 0.24 0.020 2.46 0.37 3,118.21 Inferred 537.86 0.25 0.023 2.96 0.40 4,73
Slide 9: Mining Overview
Mining Overview Two principal mining methods feeding a 65,000 tpd process plant. Open Pit: Copper Dominant Years -3 to 5.5 Stockpiled Underground: Molybdenum Dominant Mineralized Material Years 3 to 17.5 (ramps up in year 8) *Stockpile is mined to the end of year 4, and provides feed until year 17.5
Slide 10: Processing Overview
Processing Overview 3-year plant construction (65,000 tpd) for a robust copper and molybdenum production profile Plant Construction (Yr -3 to -1) Processing -3 Yr 1 Yr 4 Yr 8 Yr 12 Yr 17.5 Molybdenum Production @ 0.14% Mo 1 Copper grade 2 Molybdenum grade 3 Annual Production 0.22% over the LOM 0.09%
Slide 11: Metallurgy
Metallurgy Recoveries are based on blended feeds and rock types from Open Pit, Underground & Stockpile Copper Moly Concentrate Concentrate Metal recoveries (%) Grade Grade 100.00% 25% 55% 80.00% 60.00% 40.00% Copper Moly + Silver 20.00% Payability Payability 0.00% Copper Molybdenum Silver 96.5% 96%
Slide 12: Capital Costs
Capital Costs Initial capital estimated at $2,377 million over three-year construction period LOM Sustaining + UG Development Capital Initial Capital Expenditure Cost ($ USD M) Mine (OP) 530.9 $1,160 USD M Mine (UG) 202.4 Plant 502.1 Tailings 332.1 Closure Costs Infrastructure 219.1 Indirects 137.6
Slide 13: Operating & Cash Costs
Operating & Cash Costs Operating costs estimated at US $13.05/t processed Operating Cost Cost (US $/t mined)1 Cost (US $/t milled)2 Cash Costs (Co-Product) US $/lb Mining (OP) 1.72 1.08 C1 Copper Cash Cost $0.90 Mining (UG) 6.90 2.35 C1 Molybdenum Cash Cost $7.83 Processing 5.19 * Stockpiled materia
Slide 14: Economic Analysis Results
Economic Analysis Results Robust copper and molybdenum production profile with upside intact NPV8% IRR Payback Base Case: $2,703 5.2 USD M 18.5% Years Copper Price Sensitivity Molybdenum Price Sensitivity -25% Base +25% -25% Base +25% After-Tax NPV8% $2,101 $2,703 $3,286 $1,745 $2,703 $3,656 IRR 16.
Slide 15: Economic Analysis Results
Economic Analysis Results Biggest contributor to revenue is molybdenum LOM Revenue Split Silver, Copper 3.80% Metric Amount Metal Production Copper, Payable Copper (LOM) 1,629 Mlbs 30.60% Payable Molybdenum (LOM) 673 Mlbs Payable Silver (LOM) 21.8 Moz LOM Mineralized Material 402.9 Mt OP Mineralized
Slide 16: Infrastructure & Site Layout
Infrastructure & Site Layout A highly economic copper and molybdenum production profile with upside intact 1 Consolidated Footprint Efficient placement of process plant, tailings and waste, camp and water management. 2 Tailings Design Dry stack tailings facility and potential acid generating waste r
Slide 17: Multi-Phase Expansion Optionality
Multi-Phase Expansion Optionality PEA is a natural foundation for multi-phase underground expansion optionality. 1 NSR blocks > Cutoff Indicated & Inferred Based on LOM $/t milled at 13.05 Resources Outside of Mine and adjusting for UG Plan development, all the known blocks are above NSR cutoff. PEA
Slide 18: Next Steps
Next Steps Positive PEA results provide a strong technical and economic foundation for Aurora’s advancement 1› Strategic Engagement Continue engagement with potential strategic partners, major mining companies and financial institutions regarding project- level investment and financing structures. 2
Slide 19: Upcoming Corporate Milestones
Upcoming Corporate Milestones Multiple exploration and development catalysts 2026 2027 2028 Aurora Development Plan PEA Prefeasibility Study – Strategic Partner Geophysics Infill drilling Environmental Studies Esperanza Exploration Plan Drilling – 3,000m Geophysics + Grid Sampling DLP: TSXV | DLPRF:
Slide 20: Benchmarking on a P/NAV Basis
BENCHMARKING ON A P/NAV BASIS Severely undervalued based on P/NAV → Significant Rerating Potential Base Metal Developers: P/NAV 1.20 1.00 0.80 P/NAV 0.60 0.40 Average P/NAV: 0.35 0.20 0.02 - Source: Company Reports, Analyst Estimates; US$ converted to C$ based on a 0.73 USD to 1.00 CAD basis. Based
Slide 21: Management & Board
Management & Board Proven track record across major mining jurisdictions – Peru, Canada, Chile, South Africa and Australia LEADERSHIP TEAM IG Ian Gendall W William Bennett SD Scott Davis GI Gautam Iyer RS Robin Sudo B President & CEO Chairman CFO / CPA, CGA VP CD & IR Office & Land Mgr / Corporate S
Slide 22: Corporate Snapshot
Corporate Snapshot Corporate Structure Shareholding Breakdown Working Capital (C$M) $2 Insiders (13%) Shares (issued) 177,902,596 Warrants 68,130,589 Options 5,206,941 RSUs 2,972,173 Retail PSUs 314,000 (37%) DSUs 4,385,586 Shares (FD) 258,911,885 Long-term Share Price (C$/sh) $0.425 holders Market
Slide 23: Community First
Community First Parobamba Community Agreement › Land use & exploration agreement to 2032 Parobamba Community, Yanatile District › Since 2022, invested >US$1 million in community employment, projects and initiatives › Up to 26 individuals employed on a rotation basis › >210 individuals for the 2025 d
Slide 24: Contact Us
ADVANCING A DUAL-ASSET COPPER STRATEGY IN PERU Cusco AURORA CONTACT US IAN GENDALL CEO & President Arequipa iangendall@dlpresourcesinc.com ESPERANZA GAUTAM IYER VP Corporate Development & IR gautamiyer@dlpresourcesinc.com DLP: TSXV | DLPRF: OTCQB | J8C: FSE DLP: TSXV | DLPRF: OTCQB | J8C: FSE | dlpr