Mr. John Barker reports

LONCOR GOLD REPORTS INCREASE IN RIGS AT ITS DEEP DRILLING PROGRAM AT ADUMBI

An additional core rig has arrived at Adumbi to accelerate the deep drilling program at Loncor Gold Inc.'s 3.66-million-ounce Adumbi deposit where an indicated mineral resource of 1.88 million ounces of gold (28,185,000 tonnes grading 2.08 grams per tonne Au), and an inferred mineral resource of 1.78 million ounces of gold (20.83 million tonnes grading 2.65 g/t Au) have already been delineated within a $1,600 (U.S.)/oz open pit shell. The mobilized drill rig is a multipurpose PRD Multi Star, track-mounted rig capable of coring down to 1,500 metres with also the capability for reverse circulation drilling. Thus there is the potential to pilot some of the deep holes by reverse circulation from surface and then core down to the target depth.

Commenting on the additional drill rig at Adumbi, Loncor chief executive officer John Barker said: "A third core rig from a second drilling company has now arrived at Adumbi to accelerate the plus/minus 11,000-metre-deep drilling program. The metreage drilled so far at Adumbi in 2025 has not met our expectations, hence the decision to add a third rig to push the progress during the remainder of this year."

Qualified person

Peter N. Cowley, who is president of Loncor and a qualified person as such term is defined in National Instrument 43-101, has reviewed and approved the technical information in this press release.

Technical report

Additional information with respect to the company's Adumbi deposit (and other properties of the company within its Imbo project) is contained in the technical report of New SENET Pty. Ltd. and Minecon Resources and Services Ltd. dated Dec. 15, 2021, and entitled "NI 43-101 Preliminary Economic Assessment of the Adumbi Deposit in the Democratic Republic of the Congo." A copy of the said report can be obtained from SEDAR+ and EDGAR.

About Loncor Gold Inc.

Loncor is a Canadian gold exploration company focused on the Ngayu greenstone gold belt in the northeast of the Democratic Republic of the Congo (the DRC). The Loncor team has over two decades of experience of operating in the DRC. Loncor's growing resource base in the Ngayu belt is focused on the Imbo project where the Adumbi deposit holds an indicated mineral resource of 1.88 million ounces of gold (28,185,000 tonnes grading 2.08 g/t gold), and the Adumbi deposit and two neighbouring deposits hold an inferred mineral resource of 2.090 million ounces of gold (22,508,000 tonnes grading 2.89 g/t Au), with 84.68 per cent of these resources being attributable to Loncor. Following a drilling program carried out by the company at the Adumbi deposit in 2020 and 2021, the company completed a preliminary economic assessment (PEA) of the Adumbi deposit and announced the results of the PEA in December, 2021.

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