Newcore Gold Drilling Intersects 2.50 g/t Gold over 15.0 Metres and 3.00 g/t Gold over 10.0 metres at the Enchi Gold Project, Ghana

Drilling Intersects Multiple Zones of Gold Mineralization at the Nyam Gold Deposit and the Pre-Resource Stage Kojina Hill Gold Target

VANCOUVER, British Columbia, April 22, 2025 (GLOBE NEWSWIRE) -- Newcore Gold Ltd. ( "Newcore " or the "Company ") (TSX-V: NCAU, OTCQX: NCAUF) is pleased to announce additional drill results from the 35,000-metre drill program underway at the Company’s 100% owned Enchi Gold Project ( "Enchi " or the "Project ") in Ghana. Shallow Reverse Circulation ( "RC ") drilling at the Nyam Gold Deposit ( "Nyam ") intersected multiple zones of higher-grade gold mineralization with hole NBRC108 intersecting 2.50 grams per tonne gold ( "g/t Au ") over 15.0 metres ( "m ") from 45 m and hole NBRC110 intersecting 3.00 g/t Au over 10.0 m from 104 m. RC drilling at the Kojina Hill Gold Target ( "Kojina Hill "), a previously drilled target at Enchi with no defined mineral resource, intersected multiple zones of gold mineralization including hole KJRC026 which intersected 0.67 g/t Au over 37.0 m from 69 m including a higher-grade interval of 1.05 g/t over 20.0 m from 70 m. Drilling continues to prove out the continuity of gold mineralization and potential for resource growth at Enchi.

The 35,000-metre drill program underway at Enchi is focused on resource growth and infill drilling designed to convert Inferred Resources to Indicated. The goal of the first phase of drilling is completion of drilling required for resource conversion in advance of commissioning a Pre-Feasibility Study later this year. The second phase of the drill program will focus on discovery and resource growth, including drilling targeting earlier-stage exploration targets along with drilling focused on defining the resource growth potential at depth.

Highlights from Drilling at the Nyam Gold Deposit and Kojina Hill Gold Target at Enchi

• Drilling at Nyam encountered higher-grade gold mineralization in the upper sulphide horizon.
  • NBRC108 intersected 2.50 g/t Au over 15.0 m from 45 m.
  • NBRC110 intersected 3.00 g/t Au over 10.0 m from 104 m.
  • NBRC114 intersected 1.68 g/t Au over 12.0 m from 78 m.
• Drilling at the earlier stage Kojina Hill Target continues to prove out the potential for resource growth at Enchi through the addition of new resource areas on the property.
  • Kojina Hill is an advanced target at Enchi that has no defined mineral resource.
  • KJRC026 intersected 0.67 g/t Au over 37.0 m from 69 m, including a higher-grade interval of 1.05 g/t over 20.0 m from 70 m.
  • KJRC031 intersected higher-grade mineralization near surface with 6.80 g/t Au over
    2.0 m from 5 m.

Greg Smith, Vice President of Exploration of Newcore stated, "Drilling at Enchi continues to prove out the growth potential across the project, with all drilling reported in this release encountering gold mineralization. Drilling completed at Nyam, the third largest deposit currently defined at Enchi, continues to encounter higher-grade gold mineralization within the shallow sulphide horizon. Additional drilling completed at the earlier stage Kojina Hill Gold target, an area that does not yet have a mineral resource estimate, highlights the potential for future resource growth at Enchi from additional earlier-stage targets where drilling continues to encounter shallow gold mineralization. We are excited to continue to prove out the potential at Enchi through the drill bit, with all deposits remaining open along strike and at depth, and numerous earlier-stage targets yet to be defined. "

This release reports results for 13 RC holes totalling 1,415 m (NBRC108 to NBRC120) targeting the Nyam Gold Deposit and 7 RC holes totalling 944 m (KJRC025 to KJRC031) targeting the Kojina Hill Gold Target, with all holes intersecting gold mineralization. A total of 15,537 m in 128 holes have been reported as part of the ongoing 2024 - 2025 drill program at Enchi.

Select assay results from the 20 holes of the drill program reported in this release are below:

<sup>Notes:
1. See detailed table for complete results;
2. Intervals reported are hole lengths with true width estimated to be 75 - 85%; and
3. Length-weighted averages from uncut assays.</sup>

Plan maps showing the drill hole locations can be viewed at:
https://newcoregold.com/site/assets/files/5908/2025_04_22-ncau-nr-enchi-plan-maps.pdf

Cross sections showing drill results and highlights for holes NBRC108, NBRC109 and KJRC026 can be viewed at:
https://newcoregold.com/site/assets/files/5908/2025_04_22-ncau-crosssections-nyam-kojinahill.pdf

A complete list of the drill results in this release, including hole details, can be viewed at:
https://newcoregold.com/site/assets/files/5908/2025_04_22-ncau-enchi-2024-2025-drill-results.pdf

Drilling at the Nyam Gold Deposit

NBRC108 to NBRC120 (13 RC holes totalling 1,415 m) were completed at Nyam, targeting the south, central and northern portions of the deposit. Drilling targeted near-surface oxidized, transition as well as shallow sulphide mineralization with a goal of infill drilling for resource conversion to improve the confidence level as well as grow the existing Mineral Resource Estimate. RC drilling at Nyam consisted of 50-metre spaced sections with drill holes spaced every 25 metres along the sections. The holes reported in this news release are distributed across 10 separate sections that are spread along a strike length of 1.2 kilometres.

6 RC holes totalling 681 m (NBRC108 to NBRC111, NBRC119, NBRC120) were drilled on the southern portion of the structure at Nyam. NBRC108 intersected 2.50 g/t Au over 15.0 m from 45 m in the upper sulphide horizon. NBRC110, located 100 metres to the north, intersected 3.00 g/t Au over 10.0 m from 104 m and 0.50 g/t Au over 18.0 m from 126 m. NBRC119, located 50 metres to the south of NBRC108, intersected 2.36 g/t Au over 8.0 m from 45 m in the sulphide mineralization, as well as 0.96 g/t Au over 6.0 m from 2 m and 0.32 g/t Au over 7.0 m from 12 m in the oxide mineralization.

3 RC holes totalling 284 m (NBRC112 to NBRC114) tested the central portion of the structure at Nyam. These holes were drilled 800 metres to the north of NBRC110. NBRC114 intersected 1.68 g/t Au over 12.0 m from 78 m in the upper sulphide mineralization.

4 RC holes totalling 450 m (NBRC115 to NBRC118) were drilled on the northern portion of the structure at Nyam. NBRC117 intersected 0.51 g/t Au over 31.0 m from 47 m in the upper sulphide mineralization. NBRC118, located 50 metres further north, intersected 0.64 g/t Au over 19.0 m from 53 m and 1.12 g/t Au over 5.0 m from 80 m in the upper sulphides. NBRC116, drilled 100 metres south of NBRC117, intersected 0.46 g/t Au over 22.0 m from 86 m in the upper sulphide mineralization and 1.00 g/t Au over 7.0 m from 41 m in the oxidized material.

This drilling continues to confirm continuity along strike and down dip for the principal structures which comprise the Nyam Gold Deposit. The width and gold grades within these drill results are consistent with prior wider-spaced drilling completed at Nyam. The Company anticipates that these results, along with drill results previously released from the 2024 - 2025 drill program completed at the Boin and Sewum deposits, should improve the confidence level of the existing Mineral Resource Estimate. This recent drilling was drilled in areas where the previous pit constrained Mineral Resource Estimate was classified as Inferred. The results of this recent drilling should allow for conversion of a substantial portion of mineralization within these areas to the Indicated category.

Drilling at the Kojina Hill Gold Target

KJRC025 to KJRC031 (7 RC holes totalling 944 m) were completed at the Kojina Hill gold target. Kojina Hill is an advanced target at Enchi with no defined mineral resource. Drilling targeted near-surface oxidized, transition as well as shallow sulphide mineralization and followed-up on prior trenching and wide spaced drilling completed on the target (14 RC holes totalling 2,588 m drilled as part of the 2020 - 2023 drill program). RC drilling at Kojina Hill tested a series of targets across several separate sections that are spread along a strike length of 1.5 kilometres.

Drilling targeted the northern, central and southern portions of the Kojina Hill Gold Target. KJRC026 was drilled in the central portion of the target and intersected a wide zone of mineralization of 0.67 g/t Au over 37.0 m from 69 m, including 1.05 g/t Au over 20.0 m from 70 m in the oxidized transition horizon. KJRC031, drilled 700 metres to the south of KJRC026 in the southern portion of the target area, intersected multiple gold mineralized structures including 6.80 g/t Au over 2.0 m from 5 m and 0.69 g/t Au over 8.0 m from 50 m in the oxidized transition material, and 0.49 g/t Au over 21.0 m from 115 m in the upper sulphides.

2024 - 2025 Enchi Work Program

A 35,000-metre drill program is underway at Enchi, targeting near-surface oxide and shallow sulphide mineralization with a primary goal of infill drilling for resource conversion to improve the confidence level of the existing Mineral Resource Estimate. Most of the infill drilling is allocated to the two largest deposits at Enchi, Boin and Sewum. Improving the confidence level of the Mineral Resource Estimate at Enchi is a key component of the development work required to be completed in advance of commissioning a Pre-Feasibility Study for the Project. A subset of the drill program will also focus on outlining resource growth, with all deposit areas and pre-resource targets at Enchi remaining open along strike and at depth, providing for future resource growth across the district-scale property.

Additional exploration and development work is on-going at Enchi, including metallurgical testwork, trenching, hydrogeological testing, geotechnical work, environmental work and soil sampling. Drone topographic surveys have been completed, expanding on previously completed work, at the Kwakyekrom and Tokosea deposit areas to provide detailed topographic information required to improve the confidence level of each deposit’s Mineral Resource Estimate. Additionally, the drone survey was completed across the proposed heap leach facility area to contribute additional data for future detailed engineering studies. An airborne magnetic survey tested grass roots targets related to a series of gold-in-soil anomalies and gold mineralization identified in trenching. Soil sampling is also currently being completed on the Omanpe and Abotia licenses with a goal of further defining early-stage targets across Enchi for future trenching and drilling.

Nyam Gold Zone

Nyam is one of the five deposits which comprise the Mineral Resource Estimate at Enchi (Indicated Mineral Resource of 7.8 million tonnes grading 0.65 g/t Au containing 162,000 ounces and Inferred Mineral Resource of 2.7 million tonnes grading 1.21 g/t Au containing 104,700 ounces). Nyam is located 15 kilometres east of the town of Enchi, with nearby roads and power and further access provided by a series of drill roads. An airborne geophysical anomaly coincident with the Nyam Gold Deposit shows a complex series of linear high conductivity trends, reflective of the multiple sub-parallel gold-bearing structures. To date, approximately 25% of the gold-in-soil anomaly is untested by drilling, with the average vertical depth of all holes drilled to date at Nyam down to 90 metres. Previous drilling at the Nyam Gold Deposit has been successful in outlining higher-grade gold mineralization below the projected level of the open pits highlighted by NBDD048 with 4.51 g/t Au over 13.0 m from 236 m and NBDD052 with 3.21 g/t Au over 15.0 m from 321 m. Gold mineralization remains open to depth.

Kojina Hill Gold Target

The Kojina Hill Gold Target is an advanced target at Enchi with no currently defined mineral resource estimate. Prior drilling at Kojina Hill consists of 14 RC holes totalling 2,588 metres that were completed as part of the 2020 - 2023 drill program. Kojina Hill 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. Kojina Hill is related to a structure sub-parallel to the Nyam Shear Zone and the zone is located 1.5 kilometres west of the Nyam Gold Deposit. The Kojina Hill Target is defined on surface by a two-kilometre-long and one-kilometre-wide gold-in-soil anomaly of which less than 50% has been tested to date.

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 (see Newcore news release dated March 7, 2023). Mineral resource estimation practices are in accordance with CIM Estimation of Mineral Resource and Mineral Reserve Best Practice Guidelines (November 29, 2019) and follow CIM Definition Standards for Mineral Resources and Mineral Reserves (May 10, 2014), that are incorporated by reference into National Instrument 43-101 ( "NI 43-101 "). The Mineral Resource Estimate is from the technical report titled "Mineral Resource Estimate for the Enchi Gold Project " with an effective date of January 25, 2023, which was prepared for Newcore by Todd McCracken, P. Geo, of BBA E&C Inc. and Simon Meadows Smith, P. Geo, of SEMS Exploration Services Ltd. in accordance with NI 43-101 - Standards of Disclosure for Mineral Projects, and is available under the Company’s profile on SEDAR+ at www.sedarplus.ca. Todd McCracken and Simon Meadows Smith are independent qualified persons ( "QP ") 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

Mr. Gregory Smith, P. Geo, 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 drillhole data files against the original drillhole logs and assay certificates.

About Newcore Gold Ltd.

Newcore Gold is advancing its Enchi Gold Project located in Ghana, Africa’s largest gold producer ⁽¹⁾. Newcore Gold offers investors a unique combination of top-tier leadership, who are aligned with shareholders through their 15% equity ownership, and prime district scale exploration opportunities. Enchi’s 248 km² land package covers 40 kilometres of Ghana’s prolific Bibiani Shear Zone, a gold belt which hosts several multi-million-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.
^{(1) Source: Production volumes for 2023 as sourced from the World Gold Council.}

On Behalf of the Board of Directors of Newcore Gold Ltd.

Luke Alexander
President, CEO & Director

For further information, please contact:

Mal Karwowska | Vice President, Corporate Development and Investor Relations
+1 604 484 4399
info@newcoregold.com
www.newcoregold.com  

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release includes statements that contain "forward-looking information " within the meaning of the applicable Canadian securities legislation ( "forward-looking statements "). All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. 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. In this news release, forward-looking statements relate, among other things, to: statements about the estimation of mineral resources; results of preliminary economic assessments; completion of a pre-feasibility study; results of metallurgical testwork; results of our ongoing drill campaign; results of drilling, 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 in this news release are based upon what management of Newcore believes, or believed at the time, to be reasonable assumptions, Newcore cannot assure its shareholders 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. Such factors include, among others: risks related to the speculative nature of Newcore’s business; Newcore’s formative stage of development; Newcore’s financial position; possible variations in mineralization, grade or recovery rates; actual results of current exploration activities; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold and other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, unusual or unexpected geological formations); the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties.

Forward-looking statements contained herein are made as of the date of this news release and Newcore disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

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