Delta Resources Limited (TSX-V: DLTA) (OTC Pink: DTARF) (FSE: 6G01) is pleased to provide results from its 2022 drilling program at the Eureka Gold Deposit, 50 kilometres west of Thunder Bay, Ontario. A total of 2,719 metres were completed in nine drill holes during this program.

All nine drill holes of the 2022 program intersected the gold-bearing zone with the easternmost drill hole of the program returning assays of:

• 5.92 g/t gold over 31.0 metres
  • Including 14.80 g/t Au over 11.9 metres
    • Including 72.95 g/t Au over 2.2 metres

The mineralized zone has now been intercepted over a strike length of 850 m with the best grades increasing towards the east.

Figure 1: Plan view map showing locations of the drill holes. (Note: The geology has been projected up-dip to the surface).

Figure 2: Vertical Longitudinal Section showing grade x thickness.

André Tessier, President and CEO commented: “These first high-grade results at Delta-1 are very encouraging and could indicate a significant and higher-grade area at Eureka. In addition to seeing very wide intercepts of low-grade gold, we are now seeing the potential for high-grade zones, particularly towards the east where the zone has never been tested. Based on the visual identification of significant native gold alone, Delta mobilized a drill to complete two additional holes in the eastern extension of the zone and the team is eagerly awaiting the results from these holes.”

The mineralized zone trends roughly 100° azimuth, dips 50° towards the north, and has now been intersected over a strike length of approximately 850 m and a vertical depth exceeding 200 m.

The gold mineralization is hosted within a sandstone, near its contact with ultramafic volcanic flows to the south. Kilometre-scale, texture destructive alteration consists of intense ankeritization, sericitization and silicification. There appears to be a spatial association between gold mineralization and amphibole-feldspar-phyric intermediate dikes that are also affected by alteration. Gold mineralization consists of a network of multiple generations of quartz-ankerite-pyrite veinlets locally with disseminated grains of visible gold.

The Delta-1 project is located in the Shebandowan Greenstone Belt and covers a 17 km strike extent of the Shebandowan Structural Zone which also hosts the low-grade – high-tonnage Moss Lake gold deposit (Goldshore Resources), 50 km to the west.

More information about this release is posted in English at https://www.youtube.com/watch?v=89D5OXwOeSs and in French https://www.youtube.com/watch?v=_2mnO4Roou0

Complete drill results from the mineralized zone are shown below, including the previously released drill results from 2019 and 2021 (reported lengths are believed to be very close to true widths):

DELTA-1 Eureka Zone 2022 DRILL INTERCEPTS

DELTA-1 Eureka Zone 2019 and 2021 DRILL INTERCEPTS

Delta Resumes Drilling at Thunder Bay

The results presented herein clearly warrant an aggressive follow-up drilling program, the extent of which will be determined shortly. Meanwhile, based on the visual examination of drill hole D1-21-18 alone, and as previously announced on September 27, 2022, a drill was mobilized to complete two additional drill holes. A crew was also mobilized to the property for a mechanical trenching program to better expose the mineralized zone at surface.

Analytical Protocol and QA/QC

Chemical analyses reported in this press release were performed at SGS Canada Minerals Laboratories. Sample preparation was performed in Sudbury, 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 in an attempt to reduce the assay variability due to nugget effect caused by visible gold:

• If no visible gold is observed in the sample, an initial assay is performed by 50 g Fire Assay with ICP-OES finish at the SGS Laboratory in Burnaby, British Columbia. 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 SGS Laboratory in Lakefield, Ontario.
• If visible gold is observed in the sample, the assay is performed by Metallic Screening whereby the entire sample is pulverized, a 1 kg portion is screened to 106µm and analyzed by 50 g fire assay with gravimetric finish at the SGS Laboratory in Lakefield, Ontario.

Core logging and sampling was completed by Delta and Bayside Geoscience personnel 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 in Chibougamau, Quebec. 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 Person

Daniel Boudreau, P.Geo. Manager of Exploration of Delta Resources Limited is a Qualified Person as defined by NI-43-101 was supervisor for the drilling program and has reviewed the technical information presented in this press release.

Delta Resources would like to acknowledge the financial support provided by the Ontario Government via the Ontario Junior Exploration Program. 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, 57.6 km² located 50 km west of Thunder Bay, Ontario where the Eureka gold zone has now been outlined over a strike length of 850 m. An extremely high gold-in-till anomaly and kilometre-scale gold-bearing alteration halo point to a never-tested regional structure.
• DELTA-2 GOLD and DELTA-2 VMS, 194 km² in the prolific Chibougamau District of Quebec, with a potential for hydrothermal-gold and gold-rich VMS deposits.