OCEAN PARTNERS HOLDINGS LIMITED ACQUIRES COMMON SHARES OF DORÉ COPPER MINING CORP.

MAIDENHEAD, United Kingdom, Jan. 2, 2024 /CNW/ - Ocean Partners Holdings Limited ("Ocean Partners") announces that it has acquired common shares ("Common Shares") in the capital of Doré Copper Mining Corp. ("Doré Copper").

On December 29, 2023, Doré Copper completed a rights offering (the "Rights Offering") to the holders of Common Shares in the capital of Doré Copper at the close of business (Toronto time) on November 28, 2023. Doré Copper issued 33,000,000 Common Shares at a subscription price of $0.12 per Common Share (the "Subscription Price") for aggregate gross proceeds of $3,960,000.

In connection with the Rights Offering, Ocean Partners UK Limited ("OPUK"), a wholly-owned subsidiary of Ocean Partners, entered into a standby commitment agreement with Doré Copper on November 21, 2023 (the "Standby Commitment Agreement"), pursuant to which OPUK agreed, subject to certain terms and conditions, to exercise its basic subscription privilege in respect of any rights it holds, to cause its affiliates to exercise their basic subscription privilege in respect of any rights they hold and to acquire 50% of any additional Common Shares available as a result of any unexercised rights under the Rights Offering (the "Standby Commitment"). Pursuant to the Standby Commitment Agreement, Ocean Partners, through OPUK and Ocean Partners USA, Inc. ("OPUSA"), acquired a total of 6,472,931 Common Shares under their basic subscription privilege. Ocean Partners, through OPUK, acquired an additional 9,048,369 Common Shares in connection with the Standby Commitment.

Ocean Partners, through OPUK and OPUSA, acquired an aggregate of 15,521,300 Common Shares at the Subscription Price for an aggregate subscription price of $1,862,556.

Immediately before the completion of the Rights Offering, Ocean Partners, through OPUK and OPUSA, beneficially owned 19,197,952 Common Shares, representing approximately 19.61% of the issued and outstanding Common Shares. Immediately after the completion of the Rights Offering, Ocean Partners, through OPUK and OPUSA, beneficially owned 34,719,252 Common Shares, representing approximately 26.53% of the issued and outstanding Common Shares, which is an increase of approximately 6.92% in its securityholding percentage in the Common Shares and an increase of approximately 8.82% in its securityholding percentage since its early warning report dated October 19, 2023.

Ocean Partners acquired ownership of and control over the 15,521,300 Common Shares.

Ocean Partners' acquisition of the Common Shares in connection with the Rights Offering and the Standby Commitment Agreement was made for investment purposes. Ocean Partners and its joint actors currently have no plans or future intentions which relate to, or would result in, any of the actions requiring disclosure under the early warning reporting provisions of applicable securities laws. However, depending on market conditions, general economic and industry conditions, trading prices of Doré Copper's securities, Doré Copper's business, financial condition and prospects and/or other relevant factors, Ocean Partners and its joint actors may develop such plans or intentions in the future and may from time to time acquire additional Common Shares or other securities of Doré Copper, dispose of some or all of the existing or additional Common Shares or other securities of Doré Copper or may continue to hold the Common Shares or other securities of Doré Copper.

This news release is being issued under the early warning reporting provisions of applicable securities laws. An early warning report with additional information in respect of the foregoing matters will be filed and made available under the SEDAR+ profile of Doré Copper at www.sedarplus.ca. To obtain a copy of the early warning report, you may also contact Siva Pillay, Co-CEO of Ocean Partners, at [phone]. Ocean Partners' address is Third Floor, The Pearce Building, West Street, Maidenhead, Berkshire, United Kingdom, SL6 1RL. The address of the head office of Doré Copper is 130 King Street West, Suite 1800, Toronto, Ontario, M5X 1E3.

SOURCE OCEAN PARTNERS HOLDINGS LIMITED