Newcore Gold receives $3.8M from warrant exercises

Mr. Luke Alexander reports NEWCORE GOLD ANNOUNCES PROCEEDS OF $3.8 MILLION FROM WARRANT EXERCISES Newcore Gold Ltd. has received total proceeds of approximately $3.8-million from the exercise of 9,558,578 common share purchase warrants of the company, which expired on Sept. 26, 2025. The warrants had an exercise price of 40 cents and were originally issued on Sept. 26, 2024, following the completion of private placement financings. Luke Alexander, president and chief executive officer of Newcore, stated: "We would like to thank our shareholders for their continued support and confidence in the company through the exercise of the warrants. Management and board of directors also exercised warrants they held and continue to be strongly aligned with shareholders by way of an approximately 15-per-cent equity ownership. This funding, along with our cash on hand, supports Newcore's continued advancement and derisking of our Enchi gold project in Ghana. With a 35,000-metre drill program under way that will include exploration drilling to depth, alongside development work to support a prefeasibility study next year, we are excited for a busy year ahead as we continue to define the district-scale potential of our Enchi gold project." The company is well financed with a cash balance of approximately $10.1-million to continue to advance a 35,000-metre drill program, along with development work required to advance the Enchi gold project to a prefeasibility study in H1 2026. Postexercise and expiry of the warrants, the company's share capital consisted of 262,986,096 common shares issued and outstanding and dilutive securities consisting of 9,475,000 stock options, 7,171,000 RSUs (restricted share units) and PSUs (performance share units), and one additional tranche of warrants consisting of 20,423,000 common share purchase warrants of the company at an exercise price of 50 cents expiring Feb. 27, 2026. If fully exercised, this tranche of warrants would provide additional funding of approximately $10.2-million to continue to support drilling and development at Enchi. About Newcore Gold Ltd. Newcore Gold is advancing its Enchi gold project located in Ghana, Africa's largest gold producer. Newcore Gold offers investors a unique combination of top-tier leadership, who are aligned with shareholders through their 15-per-cent equity ownership, and prime district-scale exploration opportunities. Enchi's 248-square-kilometre land package covers 40 kilometres of Ghana's prolific Bibiani shear zone, a gold belt which hosts several multimillion-ounce gold deposits, including the Chirano mine 50 kilometres to the north. Newcore's vision is to build a responsive, creative and powerful gold enterprise that maximizes returns for shareholders. We seek Safe Harbor.