Newcore Gold Ltd.

NEWCORE – ADVANCING THE ENCHI GOLD PROJECT IN GHANA

Newcore Gold (TSX-V: NCAU | OTCQX: NCAUF) is advancing its 100% owned Enchi Gold Project in southwest Ghana. The Project hosts an Indicated Mineral Resource of 743,500 ounces of gold at 0.55g/t and an Inferred Mineral Resource of 972,000 ounces of gold at 0.65g/t ⁽¹⁾. Enchi’s district scale, 248km² land package, covers 40kms of Ghana’s prolific Bibiani Shear Zone, a gold belt which hosts several large, multi-million-ounce gold deposits, including the Chirano mine 50 kms to the north.

A Preliminary Economic Assessment (PEA) Study ⁽²⁾ completed in April 2024 highlighted robust economics for the development of an open pit, heap leach operation at Enchi. The district scale exploration opportunity at Enchi provides longer-term growth potential with all existing resource areas open along strike and at depth, numerous untested early-stage targets identified across the property, and higher-grade structures defined at depth that remain largely underexplored and untested. A 35,000-metre drill program is underway, targeting infill as well as resource expansion drilling.

Newcore’s top-tier leadership is aligned with shareholders through their 15% equity ownership and is backed by one of the strongest boards in the sector.

• Management & Institutional Backing
  Top-tier team, successful track record of creating shareholder value
• Incentivized Leadership
  Management & Board own 15%, invested alongside shareholders
• Golden Ghana
  Top gold jurisdiction in Africa known for big, successful mines
• Gold Project with District Scale Exploration Potential
  Located along one of West Africa’s most prolific gold belts
• Robust PEA at Enchi – Simple, Open Pit, Heap Leach Project ⁽²⁾
  Low capital intensity, short payback period, strong leverage to gold price
• Expansion Potential – Deposits Open Along Strike and to Depth
  35,000m drill programme underway, with +100,000 metres of resource expansion and discovery drilling completed since 2020