Dios Exploration : DIOS’ Australian partners pursue the 33Carats Project Agreement – Eeyou Istchee James Bay, Quebec (5|07|2023)

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Dios Exploration Inc. (DOS-V)

DIOS' Australian partners pursue the 33Carats Project Agreement - Eeyou Istchee James Bay, Québec

Dios reported on July 5, 2023, that Mont Royal Resources Ltd (and Northern Lights Minerals) are pursuing their option agreement on the Dios' 33Carats Project in Eeyou Istchee James Bay, Québec. The 33 Carats Project is located NW of adjacent Eastmain Mine, ~340 km NE of Chibougamau. Recall Dios had reported on Dec. 16, 2021, that Mont Royal Resources (MRZ-ASX) (https://montroyalres.com/) had on December 2, 2021 disclosed the acquisition of 75% of Northern Lights Minerals Pty Ltd (NLM) assets including interest in Dios' 33 Carats South (33 Carats-Bohier) project (https://www.linkedin.com/pulse/dios-exploration-inc-dos- v-grants-option-33-gold-project-eric-lemieux/). This was further to August 18, 2020, where Dios had signed of an agreement with NLM, a private Australian company, allowing the latter to acquire an interest in the 33 Carats Property. NLM could earn a 70% interest in the property over a 5-year

Éric Lemieux, MSc, P.Geo • Mining & Exploration Analytics

819 314-8081 July 5, 2023

period with payments of $220,000 and exploration work totaling $1.4M. An 85% interest could be obtained following the preparation of a preliminary economic study (PEA) on the property.

Structurally and stratigraphically on strike with Eastmain Mine: The 33 Carats Project is composed of ~64 claims for 3369.3 ha located along the Upper Eastmain River in the Otish Mountains region. It may represent, with its tonalite intrusion, a deeper structurally-controlled geological environment and potential source of telescoped mineralized fluids underlying the volcanic sequence hosting mineralization along Eastmain Mine Trend. Dios' reports that Québec government recently carried out regional tills/eskers sampling surveys over the Upper Eastmain region (ET 2021-03). In the southern part, gold grains per kg counts clearly target the Eastmain Mine Trend. Dios' 33Carats claims are likely locus of the source as the most significant gold dispersal trains do clearly stop up-ice of them. Therefore, confirming Dios' extensive proprietary data analysis and past research work that targeted and generated the 33Carats Project.

Well located: The 33 Carats gold project is located ~10 km NW of the Eastmain gold mine

property of Benz Mining (BZ-V) (https://benzmining.com/eastmain-gold-project/overview/);previously

developed by Eastmain Resources (see:https://www.linkedin.com/pulse/eastmain-resources-inc- er-t-otcqxeanrf-giving-reins-mine-eric-lemieux/?trackingId=7c8qcLuBSjqioC9KiMmvWA%3D%3D).

The 33 Carats-Bohier Property is accessible all year through Route 167 to the Renard diamond deposit. The Bohier tonalite is characterized by widespread carbonatization and several gold- copper occurrences have previously been outlined by Dios along NNW low magnetic structures. Benz Mining reported a NI 43-101 and JORC (2012) compliant resource of 376,000oz at 7.9 g/t Au (Indicated: 236,500oz at 8.2g/t Au, Inferred: 139,300oz at 7.5g/t Au) on the Eastmain Mine.

Please see end:https://www.linkedin.com/pulse/dios-exploration-inc-dos-v-grants-option- 33-gold-project-eric-lemieux/

https://www.diosexplo.com/en/nouvelles-evenements/

Éric Lemieux, MSc, P.Geo • Mining & Exploration Analytics July 5, 2023

Éric Lemieux, MSc, P.Geo • Mining & Exploration Analytics July 5, 2023

Éric Lemieux, MSc, P.Geo • Mining & Exploration Analytics July 5, 2023

Important Disclosures

Company	Ticker	Disclosures*
Dios Exploration Inc.	DOS-V	B, V, R

* Legend

1. The Mining Analyst, in his own account or in a family related account, owns securities in excess of 1,000 shares of the issued and outstanding equity securities of this issuer.
2. The Mining Analyst, in his own account or in a family related account, owns securities in excess of 10,000 shares of the issued and outstanding equity securities of this issuer.
3. The Mining Analyst, in his own account or in a family related account, owns securities in excess of 30,000 shares of the issued and outstanding equity securities of this issuer.
4. The Mining Analyst, in his own account or in a family related account, owns securities in excess of 50,000 shares of the issued and outstanding equity securities of this issuer.
5. The Mining Analyst, in his own account or in a family related account, owns securities in excess of 100,000 shares of the issued and outstanding equity securities of this issuer.
6. The Mining Analyst, in his own account or in a family related account, owns securities in excess of 250,000 shares of the issued and outstanding equity securities of this issuer.

V	The Mining Analyst has visited the corporate office of this issuer.

1. This issuer paid a portion of the travel-related expenses incurred by the Mining Analyst to visit material operations of this issuer.
2. This issuer has directly paid the Mining Analyst.
3. This issuer has indirectly paid the Mining Analyst.

Mining Analyst Certification

I, Éric Lemieux, Mining Analyst, hereby certify that the comments and opinions expressed in this report accurately reflect my personal views about the subject and the issuer.

I determine and have final say over which companies are included in my research and do not have direct or indirect remuneration unless disclosed.

This report has been prepared for general information purposes only and should not be considered either a solicitation for the purchase or an offer of securities. This research note does not constitute a recommendation.

The securities mentioned in this report may not be suitable for all types of investors. The information contained in this report is not intended as individual investment advice and is not designed to meet any particular investment objectives, financial situations, or needs. Nothing in this report constitutes legal, accounting or tax advice.

Éric Lemieux, MSc, P.Geo • Mining & Exploration Analytics July 5, 2023