Newcore Gold drills one m of 173.75 g/t Au at Enchi

Mr. Luke Alexander reports NEWCORE GOLD DIAMOND DRILLING INTERSECTS HIGH-GRADE GOLD MINERALIZATION WITH 174 G/T GOLD OVER 1.0 METRE AND 3.54 G/T GOLD OVER 23.0 METRES, AT THE ENCHI GOLD PROJECT, GHANA Newcore Gold Ltd. has released additional drill results from the 45,000-metre drill program under way at the company's 100-per-cent-owned Enchi gold project in Ghana. Diamond drilling (DD) at the Boin gold deposit intersected high-grade gold mineralization, including hole KBDD098, which intersected 173.75 grams per tonne gold over 1.0 metre from 264 m (true width unknown). Hole KBDD097 also returned high-grade gold in the fresh mineralization, intersecting 3.54 g/t Au over 23.0 m from 253 m, with a higher-grade interval of 6.92 g/t Au over 8.0 m from 256 m. This news release reports results for the first set of holes completed targeting high-grade mineralization in the upper portions of the fresh mineralization at Boin. Drilling continues to demonstrate the continuity of gold mineralization and the potential for resource expansion at Enchi. Highlights from diamond drilling at the Boin gold deposit at Enchi: Diamond drilling targeted the gold mineralized structure at depth, intersecting high-grade intercepts in the fresh mineralization: KBDD098 intersected 173.75 g/t Au over 1.0 m from 264 m (true width unknown). KBDD097 intersected 3.54 g/t Au over 23.0 m from 253 m, with a higher-grade interval of 6.92 g/t Au over 8.0 m from 256 m. KBDD088 intersected 2.03 g/t Au over 16.5 m from 190 m, including a higher-grade interval of 3.90 g/t Au over 4.0 m from 195 m. Diamond drilling targeted two high-grade zones identified at Boin: Five holes tested the downdip and lateral extensions to high-grade gold mineralization previously identified at Boin in two shoots within the central area of the deposit. To date, Boin has only been tested to an average vertical depth of 100 metres. Results reported in this news release focused on drilling mineralization to depth with drilling targeting mineralization within 200 to 300 vertical metres. All deposits at Enchi, including Boin, remain open for further expansion to depth. Drilling continues to prove out the potential for resource growth at Enchi by defining the higher-grade potential within the deeper fresh mineralization across the project: Drilling continues to demonstrate the continuity of gold mineralization and potential for resource expansion at Enchi. Luke Alexander, president and chief executive officer of Newcore, stated: "We are pleased to report the first set of results from our ongoing drilling program at Enchi, with diamond drilling targeting fresh mineralization successfully intersecting high-grade gold mineralization at depth. These results include the deepest drilling completed to date at Enchi, with diamond drilling targeting and intersecting gold mineralization within a vertical depth of 200 to 300 metres and confirming that the Boin deposit remains open at depth. These results continue to showcase the high-grade potential of the project with diamond drill hole KBRC098 delivering one of the strongest high-grade intercepts encountered on the project to date when calculated on a gram-by-metre basis, further highlighting the high-grade potential at Enchi. With drilling now focused on testing depth extensions, we believe these results represent an important step toward unlocking the longer-term growth potential of Enchi. Given that neighbouring deposits located along the Sefwi-Bibiani belt, including Newmont's Ahafo mine and Asante Gold's Bibiani and Chirano mines, are mineralized to significantly greater vertical depths, we believe Enchi remains underexplored and offers substantial upside across our district-scale property." Greg Smith, vice-president, exploration, of Newcore, stated: "These initial set of diamond drill results from the ongoing drill program at our Enchi gold project continue to prove our geological model, which supports the potential for resource growth driven by higher-grade mineralization at depth. Drilling completed targeted two areas at Boin believed to have potential for high-grade shoots based on the results from earlier drilling. The successful intersection of mineralization within these identified areas reinforces our confidence in the model and the prospectivity of the system. As drilling progresses, we look forward to continuing to drill at depth to advance our understanding of the scale, continuity and longer-term growth potential that we believe exists at Enchi." This release reports results for five DD holes totalling 1,699 m (KBDD088 and KBDD095 to KBDD098) targeting the Boin gold deposit, with all holes intersecting gold mineralization. A total of 31,189 m in 242 holes have been reported as part of the continuing drill program at Enchi, with 98 per cent of holes intersecting gold mineralization. Select assay results from the five holes of the drill program reported in this release are below. Diamond drilling at the Boin gold deposit KBDD088 and KBDD095 to KBDD098 (five holes totalling 1,699 m) were completed at the Boin gold deposit. This drilling targeted mineralization within the fresh mineral horizon at Boin with a goal of continuing to define the potential for high-grade mineralization at depth. This is the deepest drilling completed to date at Boin, intersecting mineralization below prior intercepts and defining the continuity of gold mineralization to depth. The holes reported in this news release were distributed across four separate sections spread along a 1.5-kilometre strike length. Four diamond drill holes totalling 1,379 m (KBDD088, KBDD095, KBDD096 and KBDD098) were completed on three sections along a 300-metre strike length in the south-central portion of the deposit. KBDD098 intersected 173.75 g/t Au over 1.0 metre from 264 m (true width unknown) associated with a quartz vein structure with abundant fine pyrite. KBDD088, collared 300 metres south of KBDD098, intersected 2.03 g/t Au over 16.5 m from 190 m, with a higher-grade interval of 3.90 g/t Au over 4.0 m from 195 m within a mixed zone of greywacke and phyllite with variable quartz veining and pyrite. KBDD095 drilled to the north of KBDD088 intersected 2.34 g/t Au over 8.5 m from 271 m, including a higher-grade interval of 7.50 g/t Au over 2.5 m from 272 m. KBDD096, drilled on the same section as KBDD095, intersected 0.69 g/t Au over 36.5 m from 363 m, with a higher-grade interval of 2.34 g/t Au over 2.0 m from 385 m. KBDD096 encountered the deepest gold mineralization to date on the Boin structure at a vertical depth of 370 metres. One diamond drill hole totalling 320 m (KBDD097) was completed on a section in the north-central area of the deposit. KBDD097, drilled 1.3 kilometres north of KBDD098, intersected 3.54 g/t Au over 23.0 m from 253 m, including 6.92 g/t Au over 8.0 m from 256 m. This intercept is hosted in greywacke and minor phyllite with multiple quartz veins and quartz stockworks and abundant fine-grained pyrite. The hole intersected two additional structures with 1.57 g/t Au over 3.0 m from 187 m and 0.62 g/t Au over 19.0 m from 226 m, with a higher-grade interval of 1.67 g/t Au over 2.0 m from 232 m. The diamond drilling completed at Boin continues to confirm continuity downdip for the principal structures that comprise the central portion of the Boin gold deposit. The width and gold grades within these drill results are consistent with prior drilling completed in this area. Enchi work program The 45,000-metre drill program under way at Enchi commenced August, 2024, targeting near-surface oxide and shallow fresh mineralization. The drill program is in its second phase and is focused on discovery and resource growth, including drilling targeting the potential for resource growth along strike at existing deposits, along with diamond drilling targeting the higher-grade potential at depth. The primary goal of the completed first phase of the drill program was reverse circulation (RC) infill drilling for resource conversion to improve the confidence level of the existing mineral resource estimate, with most of the first phase of the drill program allocated to the two largest deposits at Enchi: Boin and Sewum. Improving the confidence level of the mineral resource estimate is a key component of the development work required to advance the project to a prefeasibility study in the first half of 2026. All deposit areas and preresource targets at Enchi remain open along strike and at depth, providing for future resource growth across the district-scale property. In addition to drilling, development work in support of a prefeasibility study is continuing at Enchi, including metallurgical test work, hydrogeological testing, geotechnical work and environmental work. Boin gold deposit Boin is one of the five deposits that comprise the mineral resource estimate at Enchi (Boin has an indicated mineral resource of 13.0 million tonnes grading 0.62 g/t Au containing 258,200 ounces and an inferred mineral resource of 15.9 million tonnes grading 0.68 g/t Au containing 349,600 ounces). Boin is located 10 kilometres south of the town of Enchi, with nearby roads and power and further access provided by a series of drill roads. Boin is outlined on surface by a greater-than-six-kilometre-long-by-up-to-one-kilometre-wide gold-in-soil anomaly. An airborne geophysical anomaly coincident with the Boin structure extends for a further kilometre north and three kilometres south beyond the limits of current drilling. To date, approximately 40 per cent of the gold-in-soil anomaly at Boin is untested by drilling, with the average vertical depth of all holes drilled to date at Boin only down to 100 metres. Enchi gold project mineral resource estimate 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 (Canadian Institute of Mining, Metallurgy and Petroleum) Estimation of Mineral Resource and Mineral Reserve Best Practice Guidelines (Nov. 29, 2019) and follow CIM Definition Standards for Mineral Resources and Mineral Reserves (May 10, 2014), which are incorporated by reference into National Instrument 43-101. The mineral resource estimate is from the technical report titled "NI 43-101 Technical Report, Preliminary Economic Assessment on the Enchi Gold Project" dated June 7, 2024, with an effective date of April 24, 2024, prepared for Newcore by Preetham Nayak, PEng, Ryda Peung, PEng, and Zunedbhai Shaikh, PEng, of Lycopodium Minerals Canada Ltd.;Kerrine Azougarh, PEng, of Micon International Ltd.; and Simon Meadows Smith, PEng/PGeo, of SEMS Exploration, in accordance with NI 43-101 and is available under the company's profile on SEDAR. Mr. Smith is an independent qualified person as defined by NI 43-101. Newcore Gold best practice Newcore is committed to best-practice standards for all exploration, sampling and drilling activities. Drilling was completed by an independent drilling firm using industry-standard RC and diamond drill equipment. Analytical quality assurance and quality control procedures include the systematic insertion of blanks, standards and duplicates into the sample strings. Samples are placed in sealed bags and shipped directly to Intertek Labs located in Tarkwa, Ghana, for 50-gram gold fire assay. Qualified person Gregory Smith, PGeo, vice-president of exploration at Newcore, is a qualified person as defined by NI 43-101, and has reviewed and approved the technical data and information contained in this news release. Mr. Smith has verified the technical and scientific data disclosed herein and has conducted appropriate verification on the underlying data, including confirmation of the drill hole data files against the original drill hole logs and assay certificates. 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 that 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.