Newcore Gold offers investors a unique combination of top-tier leadership and prime exploration opportunities in one of the world’s most attractive gold jurisdictions. OUR VISION is to build a responsive, creative and powerful gold enterprise that maximizes returns for shareholders. The Newcore team, which includes some of the industry’s most successful entrepreneurs, is focused on advancing its 100%-owned Enchi Gold Project in Ghana.

NEWS ALERT (April 1, 2025) - Newcore Gold Drilling Intersects 0.73 g/t Gold over 68.0 Metres and 1.39 g/t Gold over 24.0 metres at the Enchi Gold Project, Ghana

The Enchi Gold Project currently hosts an Indicated Mineral Resource1 of 743,500 ounces of gold at 0.55 g/t and an Inferred Mineral Resource1 of 972,000 ounces of gold at 0.65 g/t in a district hosting several 5 million-ounce gold deposits. This 248 km2 land package covers 40 kilometers of Ghana’s prolific Bibiani Shear Zone. The property remains substantially underexplored, with several high priority geochemical and geophysical anomalies yet to be tested by drilling.

Robust PEA⁽²⁾ at Enchi Highlights Potential for Simple, Low Capital, Open Pit, Heap Leach Operation

An updated independent Preliminary Economic Assessment (“PEA”) for Newcore’s Enchi Gold Project was announced on June 8, 2021. It outlined the potential for a technically simple, open pit mine and heap leach operation utilizing contract mining. The PEA also included an updated, pit constrained, Inferred Mineral Resource Estimate. Only 20,195 metres of drilling from the ongoing 90,000 metre drill program was included in the PEA and resource update.

The largest drill program ever is underway on the Project, focused on testing extensions along strike and down dip to depth on existing resource areas, proving up previously drilled priority targets, and first pass drill testing of a series of kilometre-scale gold-in-soil anomalous zones. Newcore’s goal is to grow the existing Inferred Mineral Resource of 1.4 million ounces of gold at 0.62 g/t² and prove out the multi-million-ounce potential of the property.

The first deeper drilling is underway at Enchi, with diamond drilling to be completed as part of the ongoing drill program. Kinross’ multi-million-ounce Chirano Gold Mine is located ~50km northeast of Enchi, and hosts plunging zones of high-grade gold mineralization with gold zones similar to Enchi. Similarly, Chirano began with lower-grade open pit resources before discovering higher grade resources at depth. Both properties exhibit numerous targets, while at Enchi only 6 of 25 exploration targets have been drill-tested to date. Newcore’s first deeper drilling will target mineralization at a vertical depth of 200 to 300 metres to better understand the potential for higher grade at depth.

August 18, 2021 / Newcore Gold Increases Drill Program to 90,000 Metres and Intersects 1.00 g/t Gold Over 103.0 Metres at the Enchi Gold Project, Ghana

July 21, 2021 / Newcore Gold Drilling Intersects 95.16 g/t Gold Over 2.0 Metres and 1.28 g/t Gold Over 74.0 Metres, at the Enchi Gold Project, Ghana

July 15, 2021 / Newcore Gold Announces 94.7% Gold Recoveries in Column Testwork for the Sewum and Boin Deposits at the Enchi Gold Project, Ghana

June 8, 2021 / Newcore Gold Announces Positive Updated Preliminary Economic Assessment for the Enchi Gold Project, Ghana

1) These numbers are from the news release dated June 8, 2021. The Mineral Resource Estimate was prepared by Todd McCracken, P. Geo. of BBA E&C Inc. in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. McCracken is an independent qualified person under NI 43-101. The updated PEA for the Enchi Gold Project summarized on this page is from the technical report titled “Preliminary Economic Assessment for the Enchi Gold Project, Enchi, Ghana” with an effective date of June 8, 2021, which was prepared for Newcore Gold by BBA E&C Inc in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects and is available under Newcore’s SEDAR profile at www.sedar.com. CIM definition standards were followed for the resource estimate. The 2021 resource models used ordinary kriging (OK) grade estimation within a three-dimensional block model with mineralized zones defined by wireframed solids and constrained by pits shell for Sewum, Boin and Nyam. Kwakyekrom used Inverse Distance squared (ID2). A base cut-off grade of 0.2 g/t Au was used for reporting resources with a capping of gold grades varied by deposit and zone. A US$1,650/ounce gold price, open pit with heap leach operation was used to determine the cut-off grade of 0.2 g/t Au. Mining costs of US$1.40 for oxides, US$2.10 for transition, and US$2.60 for fresh rock per mined tonne and G&A and Milling costs of US$6.83/milled tonne. Metallurgical recoveries have been applied to four individual deposits and in each case three material types (oxide, transition, and fresh rock) with average recoveries of 77% for Sewum, 79% for Boin, 60% for Nyam and 72% for Kwakyekrom. The Inferred Mineral Resource Estimate is pit constrained. A density of 2.20 g/cm3 for oxide, 2.45 g/cm3 for transition, and 2.70 g/cm3 for fresh rock was applied. Numbers may not add due to rounding. Optimization pit slope angles varied based on the rock types. Mineral Resources that are not mineral reserves do not have economic viability.

2) See news release dated June 8, 2021 for further details. The updated PEA for the Enchi Gold Project summarized on this page is from the technical report titled “Preliminary Economic Assessment for the Enchi Gold Project, Enchi, Ghana” with an effective date of June 8, 2021, which was prepared for Newcore Gold by BBA E&C Inc in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects and is available under Newcore’s SEDAR profile at www.sedar.com. The Preliminary Economic Assessment (“PEA”) is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty the results of the PEA will be realized. Mineral resources are not mineral reserves and do not have demonstrated economic viability. Additional work is required to upgrade the mineral resources to mineral reserves. In addition, the mineral resource estimates could be materially affected by environmental, geotechnical, permitting, legal, title, taxation, socio-political, marketing or other relevant factors. This presentation should be read in conjunction with the news release issued on June 8, 2021. Economic highlights represent Newcore’s 100% interest in the Enchi Gold Project. 

3) Source: 2020 production volumes and ranking for Ghana and Africa sourced from the World Gold Council

Cautionary Note Regarding Forward-Looking Statements

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This page includes statements that contain "forward-looking information" concerning Newcore Gold Ltd.’s ("Newcore" or the "Company") future financial or operating performance and other statements that express management's expectations or estimates of future developments, circumstances or results. Any statement that involves discussion with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always using phrases such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. Herein, forward-looking statements relate, among other things, to: statements about the estimation of mineral resources; results of our ongoing drill campaign, magnitude or quality of mineral deposits; anticipated advancement of mineral properties or programs; and future exploration prospects.

These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. The assumptions underlying the forward-looking statements are based on information currently available to Newcore. Although the forward-looking statements contained herein are based upon what management of Newcore believes to be reasonable assumptions, Newcore cannot assure its investors that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Forward-looking information also involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Accordingly, readers should not place undue reliance on forward-looking statements. Newcore does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information or statements whether as a result of new information, future events or otherwise, except as required by law. The information presented herein is not an offer to purchase securities and does not constitute an offering document under Securities legislation.

Mr. Gregory Smith, P. Geo, VP Exploration of the Company, is the Qualified Person as defined by NI 43-101, and has approved the technical data and information presented herein.

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