Delta Resources Limited — Capital/Financing Update 2023

Jan 31, 2023

FORM 51-102F3

MATERIAL CHANGE REPORT

Item 1. Name and Address of Company Delta Resources Limited (the “Company”) 1718, Christine Cr. Kingston, Ontario, Canada K7L 4V4 Item 2. Date of Material Change

January 30, 2023 Item 3. News Release The press release was issued and distributed on January 31, 2023 via Newsfile Corp.

Item 4. Summary of Material Change

Delta Resources Announces the closing of a $450,000 private placement

Item 5. Full Description of Material Change

The Company announced that it has completed a non-brokered private placement by issuing 4,500,000 units of the Company at a price of $0.10 per unit, for gross proceeds of $450,000. Each unit consists of one common share and one common share purchase warrant exercisable for up to 24 months from closing at $0.18.

The net proceeds of the financing will be largely used for drilling at the Delta-2 VMS property in Chibougamau, Quebec. Portions will also be used for drilling at the Delta1 Gold property in Thunder Bay, Ontario, and general working capital.

In connection with this private placement, the Company has paid cash commissions in the aggregate amount of $3,500. As additional consideration, the Company also issued an aggregate of 35,000 non-transferable compensation warrants (the “ Compensation Warrants ”) exercisable to acquire one common share of the Company at an exercise price of $0.25 at any time in whole or in part for a period of 24 months following the closing of the offering.

		(the “Compensation Warrants”) exercisable to acquire one common sCompany at an exercise price of $0.25 at any time in whole or in part for24 monthsfollowing the closing ofthe offering.
Item	6.	Reliance on subsection 7.1(2) or (3) of National Instrument 51-102
		N/A
Item	7.	Omitted Information
		None
Item	8.	Executive Officer
		André C. Tessier, CEO
		(613) 328-1581
Item	9.	Date of Report
		January 31, 2023