Newcore Gold Drilling Intersects 2.59 g/t Gold over 69 Metres, Including 6.41 g/t Gold over 24 Metres, at the Enchi Gold Project, Ghana

Newcore Gold Ltd. (NCAU) reported seven reverse-circulation holes totaling 960 meters at the Boin Gold Deposit, all of which intersected gold mineralization. The headline hole, KBRC411, returned 2.59 g/t Au over 69.0 m from 58 m, including 6.41 g/t Au over 24.0 m from 59 m. Hole KBRC414 returned 0.83 g/t Au over 32.0 m from 70 m, including 3.37 g/t Au over 6.0 m from 84 m. Additionally, KBRC404 returned 0.68 g/t Au over 22.0 m from 70 m, including 1.64 g/t Au over 7.0 m from 72 m.

The holes targeted shallow mineralization in the central portion of Boin for reserve conversion and mine-plan optimization. The maximum vertical depth was 125 m, and the average vertical depth of all Boin holes is only about 100 m. These 2026 results are not yet included in the Mineral Resource Estimate or the June 2026 Pre-Feasibility Study.

Newcore Gold Ltd. (NCAU) released drill results from infill and resource-conversion work within its existing Boin reserve area. The company remains pre-revenue and is not yet a producer. The drilling did not identify a new zone, a major step-out, or a meaningful increase in the size of the project.

The company reports that 99% of holes intersected gold. Against the resource grade, KBRC411 was strongly positive, though above-reserve infill has been a recurring theme across multiple 2026 releases.

The stock has fallen from C$0.91 in September 2025 to C$0.28, including a sharp drop following the Pre-Feasibility Study. The project already holds 1.055 moz of probable reserves and a PFS. One shallow infill hole in central Boin does not materially alter the mine plan, reserve base, or net asset value.

Newcore Gold Ltd. is a Canadian-listed gold exploration and development company trading on the TSX Venture Exchange under the ticker NCAU. Its core asset is the Enchi Gold Project in Ghana, a 248 km² land package covering 40 km of the Bibiani Shear Zone. The Enchi project hosts four deposits: Boin, Sewum, Nyam, and Kwakyekrom.

The company reports a Probable Mineral Reserve of 51.3 Mt at 0.64 g/t Au for 1,055,000 oz. Indicated Mineral Resources total 83.6 Mt at 0.56 g/t Au for 1,502,000 oz, while Inferred Mineral Resources stand at 40.1 Mt at 0.49 g/t Au for 626,000 oz.

A Pre-Feasibility Study dated June 2026 outlines a 5.5 Mtpa CIL operation with an initial capex of US$351 M. At a gold price of US$3,800/oz, the study projects an after-tax NPV5% of US$496 M, a 37% after-tax IRR, and a 9.3-year mine life. Average annual production is estimated at about 104,000 oz, with a Life of Mine (LOM) AISC of US$2,290/oz.

As of June 30, 2026, Newcore Gold’s financial position includes cash of C$15.5 M and working capital of C$13.9 M, with no debt and approximately 312.7 M shares outstanding. The company completed a C$15 M bought-deal financing in May 2026 at C$0.53 per share; the current share price is substantially below that financing price.