Enchi Gold Project Drill Program Underway

VANCOUVER - Newcore Gold Ltd. reported on the 35,000-metre drill program underway at Enchi Gold Project, in Ghana. Shallow Reverse Circulation (RC) drilling at the Sewum Gold Deposit intersected multiple zones of gold mineralization, with hole SWRC213 intersecting 0.73 grams per tonne gold (g/t Au) over 68.0 metres (m) from 62 m, hole SWRC223 intersecting 0.74 g/t Au over 49 m from 18 m, and hole SWRC208 intersecting 1.39 g/t Au over 24.0 m from 22 m including a higher-grade interval of 6.56 g/t over 4.0 m from 26 m. Drilling continues to prove out the continuity of gold mineralization and potential for resource growth at Enchi.

The 35,000-metre drill program underway at Enchi is focused on resource growth and infill drilling designed to convert Inferred Resources to Indicated. The goal of the first phase of drilling is completion of drilling required for resource conversion in advance of commissioning a Pre-Feasibility Study later this year. The second phase of the drill program will focus on discovery and resource growth, including drilling targeting earlier-stage exploration targets along with drilling focused on defining the resource growth potential at depth.

Drilling at the Checkerboard Hill area encountered multiple wide zones of gold mineralization near-surface within both the oxide and upper sulphide horizon. SWRC213 intersected two gold mineralized structures: 0.70 g/t Au over 20.0 m from 12 m in the oxide zone, and a second interval of 0.73 g/t Au over 68.0 m from 62 m in the transition/upper sulphide zone. SWRC208 intersected multiple gold mineralized structures in the oxide zone including 0.57 g/t Au over 17.0 m from surface, with a second interval of 1.39 g/t Au over 24.0 m from 22 m with a higher-grade interval of 6.56 g/t Au over 4.0 m from 26 m.

Drilling at the Sewum Extension area intersected wide zones of gold mineralization near surface, with higher-grade intervals. SWRC223 intersected 0.74 g/t Au over 49.0 m from 18 m, including a higher-grade interval of 1.57 g/t over 11.0 m from 42.0 m in the oxide/transition horizon. SWRC222 intersected 0.59 g/t Au over 38.0 m from surface, including a higher-grade interval of 1.94 g/t over 7.0 m from 4.0 m in the oxide horizon.

Drilling completed at the Extension Parallel Structure area continues to highlight the potential for resource growth at Enchi. SWRC224 intersected 1.24 g/t Au over 20.0 m from 69 m within the oxide/transition material, outside the limits of the pit that constrains the Mineral Resource Estimate.

Luke Alexander, President and CEO, said, "The 35,000-metre drill program underway at Enchi continues to deliver strong results. These results from Sewum, the largest deposit currently defined at Enchi, highlight both the positive continuity of near-surface mineralization as well as the strong potential for future resource growth across the Project. We are thrilled to be fully funded to continue to deliver value through the drill bit, with drilling focused on resource growth and conversion, and high-priority exploration targets, while concurrently continuing to advance the development of the Project with commissioning of a Pre-Feasibility Study later this year."

SWRC204 to SWRC224 (21 RC holes totalling 2,546 m) were completed at Sewum, targeting the Checkerboard Hill and Sewum Extension areas of the deposit. Drilling targeted near-surface oxidized, transition as well as shallow sulphide mineralization with a goal of infill drilling for resource conversion to improve the confidence level as well as grow the existing Mineral Resource Estimate. RC drilling at Sewum consisted of 50-metre spaced sections with drill holes spaced every 25 metres along the sections. The holes reported in this news release are distributed across 10 separate sections that are spread along a strike length of 2.2 kilometres.

14 RC holes totalling 1,946 m (SWRC204 to SWRC217) tested the Checkerboard Hill area. Drilling in this area focused on resource conversion with positive results. SWRC213 drilled in the central portion of the zone intersected two gold mineralized structures: 0.70 g/t Au over 20.0 m from 12 m in the oxide zone, and a second interval of 0.73 g/t Au over 68.0 m from 62 m in the transition/upper sulphide zone. Along the same section, with drill spacing of 25 metres along the section, SWRC212 intersected 0.40 g/t Au over 81.0 m from surface. SWRC208 drilled 100 metres north intersected multiple gold mineralized structures in the oxide zone including 0.57 g/t Au over 17.0 m from surface, with a second interval of 1.39 g/t Au over 24.0 m from 22 m with a higher-grade interval of 6.56 g/t Au over 4.0 m from 26 m. Hole SWRC217, drilled 25 metres north of SWRC208, intersected 1.24 g/t Au over 15.0 m from 19 m in the oxide horizon with a second intercept of 1.00 g/t Au over 30.0 m from 90 m in the upper sulphide horizon.

6 RC holes totalling 447 m (SWRC218 to SWRC 223) tested the Sewum Extension area. Drilling in this area focused on resource conversion with strong results. SWRC223 intersected 0.74 g/t Au over 49.0 m from 18 m, including a higher-grade interval of 1.57 g/t over 11.0 m from 42.0 m in the oxide/transition horizon. Along the same section, with drill spacing of 25 metres along the section, SWRC222 intersected 0.59 g/t Au over 38.0 m from surface, including a higher-grade interval of 1.94 g/t over 7.0 m from 4.0 m in the oxide horizon.

1 RC hole totalling 153 m (SWRC224) tested the Sewum Extension Parallel Structure, testing the down-dip continuity of the mineralization near the central portion of the zone. SWRC224 intersected 1.24 g/t Au over 20.0 m from 69 m within the oxide/transition material, outside the limits of the pit that constrains the Mineral Resource Estimate. The results from this step-out drill hole continue to highlight the potential for future resource growth at Enchi.

These drill results continue to confirm continuity along strike and down dip for the principal structures which comprise the Sewum Gold Deposit. The width and gold grades within these drill results are also consistent with prior wider-spaced drilling completed at Sewum.

The drill results released to date from the 2024 - 2025 drill program are from the Boin and Sewum deposits where drilling was designed to improve the confidence level of the existing Mineral Resource Estimate. This recent drilling was drilled in areas where the previous pit constrained Mineral Resource Estimate was classified as Inferred. The Company anticipates that the results of this recent drilling should allow for the conversion of a substantial portion of mineralization within these areas to the Indicated category.

A 35,000-metre drill program is underway at Enchi, targeting near-surface oxide and shallow sulphide mineralization with a primary goal of infill drilling for resource conversion to improve the confidence level of the existing Mineral Resource Estimate. Most of the infill drilling is allocated to the two largest deposits at Enchi, Boin and Sewum. Improving the confidence level of the Mineral Resource Estimate at Enchi is a key component of the development work required to be completed in advance of commissioning a Pre-Feasibility Study for the Project. A subset of the drill program will also focus on outlining resource growth, with all deposit areas and pre-resource targets at Enchi remaining open along strike and at depth, providing for future resource growth across the district-scale property.

Additional exploration and development work is on-going at Enchi, including metallurgical testwork, trenching, hydrogeological testing, geotechnical work, environmental work and soil sampling. Drone topographic surveys have been completed, expanding on previously completed work, at the Kwakyekrom and Tokosea deposit areas to provide detailed topographic information required to improve the confidence level of each deposit’s Mineral Resource Estimate. Additionally, the drone survey was completed across the proposed heap leach facility area to contribute additional data for future detailed engineering studies. An airborne magnetic survey tested grass roots targets related to a series of gold-in-soil anomalies and gold mineralization identified in trenching. Soil sampling is also currently being completed on the Omanpe and Abotia licenses with a goal of further defining early-stage targets across Enchi for future trenching and drilling.

Sewum is one of the five deposits which comprise the Mineral Resource Estimate at Enchi (Sewum has an Indicated Mineral Resource of 20.9 million tonnes grading 0.48 g/t Au containing 323,300 ounces and Inferred Mineral Resource of 21.8 million tonnes grading 0.53 g/t Au containing 373,100 ounces). Sewum is located 15 kilometres south of the town of Enchi, with nearby roads and power and further access provided by a series of drill roads. Sewum is outlined on surface by a greater than six-kilometre-long and one to two-kilometre-wide gold in soil anomaly. An airborne geophysical anomaly coincident with the Sewum Gold Deposit defines a series of sub parallel and intersecting structures. To date, approximately 50% of the gold-in-soil anomaly at Sewum is untested by drilling, with the average vertical depth of all holes drilled to date at Sewum only down to 75 metres.

The Enchi Gold Project hosts an Indicated Mineral Resource of 41.7 million tonnes grading 0.55 g/t Au containing 743,500 ounces gold and an Inferred Mineral Resource of 46.6 million tonnes grading 0.65 g/t Au containing 972,000 ounces. Mineral resource estimation practices are in accordance with CIM Estimation of Mineral Resource and Mineral Reserve Best Practice Guidelines and follow CIM Definition Standards for Mineral Resources and Mineral Reserves, that are incorporated by reference into National Instrument 43-101.