Mr. Alex Klenman reports

LEOCOR MINING ANNOUNCES PRIVATE PLACEMENT

Leocor Mining Inc. (formerly Leocor Gold Inc.) has arranged a non-brokered private placement financing of up to 80 million units at a price of five cents per unit for gross proceeds of up to $4-million. Each unit will consist of one common share of the company and one common share purchase warrant, with each warrant exercisable to purchase one additional common share for a period of three years from the date of closing at an exercise price of 10 cents.

The company expects to utilize net proceeds from the private placement to exercise certain convertible securities of Intrepid Metals Corp. held by the company and for general working capital purposes.

In connection with completion of the private placement, the company may pay finders' fees to eligible third parties that have introduced subscribers to the private placement. All securities issued in connection with the private placement will be subject to restrictions on resale for a period of four months and one day in accordance with applicable securities laws. Completion of the private placement remains subject to receipt of regulatory approvals.

About Leocor Mining 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 Bae Verte portfolio includes the Dorset, Dorset Extension, Copper Creek and Five Mile Brook projects, creating a contiguous approximately 2,000-hectare exploration corridor.

We seek Safe Harbor.