Mr. Alex Klenman reports

LEOCOR MINING PLANS VTEM SURVEY AT THE BAIE VERTE GOLD-COPPER PROJECT, NEWFOUNDLAND

Leocor Mining Inc. (formerly Leocor Gold Inc.) is planning a VTEM survey at the company's 2,002-hectare contiguous Baie Verte gold-copper exploration project. The Baie Verte project is situated on the north-central coast of the island of Newfoundland in the province of Newfoundland and Labrador, Canada.

The survey will cover the entire project area and will generate critical informative data that the company will utilize to assess and determine primary targets for follow-up drilling. Last summer's drill program identified a volcanogenic massive sulphide style mineralizing system within the Copper Creek section of the Baie Verte project (see news release dated July 8, 2025). The fundamental premise of applying electromagnetic methods to VMS exploration is the strong conductivity contrast between the massive sulphide mineralization and the surrounding host lithologies.

"We're eager to get follow-up drilling completed at Baie Verte," said Alex Klenman, chief executive officer of Leocor Mining. "The discovery of VMS style mineralization last year was significant, and the case to continue drilling, particularly at Copper Creek, is certainly compelling. The survey will aid greatly in prioritizing drill targets as we move forward with the development of the Baie Verte project," continued Mr. Klenman.

VMS deposits are syngenetic accumulations of sulphide minerals that form through hydrothermal discharge in submarine volcanic environments, typically occurring as lenses of polymetallic massive sulphide. These systems are characterized by two primary components: a stratabound lens containing over 60 per cent sulphide minerals and an underlying discordant stringer or stockwork zone composed of vein-type mineralization within an envelope of altered rocks. Both were intersected in last year's drill program.

The electromagnetic signature of a VMS deposit is primarily a function of its mineralogical composition and the connectivity of conductive grains. Common sulphide minerals such as pyrite, pyrrhotite and chalcopyrite possess extremely high electrical conductivity, often resulting in orebodies with very low resistivities compared with host rocks like rhyolites, andesites or sedimentary sequences. This contrast can span up to five or more orders of magnitude, providing ideal conditions for the induction of eddy currents during a time-domain EM survey.

The VTEM system operates on the principle of time domain electromagnetic induction. A transmitter coil, carried by a helicopter, generates a primary electromagnetic field by passing a powerful current through a large loop. In VTEM, this current follows a triangular ramp or polygonal waveform that is rapidly terminated. The collapse of this primary field induces eddy currents in any nearby conductive bodies in the subsurface, such as a massive sulphide lens. These induced currents generate a secondary magnetic field that decays over time. VTEM measures the time rate of change of this secondary field using induction coil receivers during the off-time between transmitter pulses.

More details will be provided once the survey dates are finalized.

Qualified person

David Murray, PGeo, principal consultant at Resourceful Geoscience Solutions, a consultant to Leocor, is an independent qualified person within the meaning of National Instrument 43-101 (Standards of Disclosure for Minerals Projects), and has reviewed and approved the technical information presented herein.

About Leocor Mining Inc. (formerly Leocor Gold Inc.)

Leocor Mining is a British Columbia-based resource company involved in the acquisition and exploration of precious metal projects, with a current focus in Atlantic Canada. Leocor, through outright ownership and earn-in agreements, currently controls several gold-copper projects in prime exploration ground located within the prolific Baie Verte mining district. Leocor's Baie Verte portfolio includes the Dorset, Dorset Extension, Copper Creek and Five Mile Brook projects, creating a contiguous approximately 2,000-hectare exploration corridor.

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