Mr. John Barker reports

LONCOR GOLD PROVIDES UPDATE ON ARRANGEMENT TRANSACTION WITH CHENGTUN MINING

Loncor Gold Inc. is providing an update on the proposed arrangement of Loncor with Chengtun Mining Group Co. Ltd., through its wholly owned subsidiary, Chengtun Gold Ontario Inc., which arrangement transaction provides for, among other things, the acquisition by Chengtun Mining of all of the outstanding shares of the company for $1.38 per share in cash by way of a court-approved plan of arrangement.

In a recent communique, the Chinese Ministry of Foreign Affairs has cautioned Chinese nationals and businesses to avoid certain regions in the eastern Democratic Republic of the Congo. The guidelines regarding Chinese nationals in eastern DRC have been in place for a number of years, but the Chinese government recently issued a new heightened caution in response to certain disturbances, in particular along the Rwandan and Ugandan border. Loncor's Adumbi project is located approximately 500 kilometres from the border areas and has not experienced any issues with its operations. Africa's largest gold mine, Kibali, controlled by the Barrick AngloGold joint venture, is located approximately 230 kilometres northeast of Adumbi. Both areas were identified in the recent communique. The company's drill program at Adumbi continues normally with more drill results expected within the next 10 days.

The company is continuing to advance the arrangement transaction and remains on track to hold a special meeting of shareholders on Dec. 11, 2025, to obtain the required shareholder approval for the arrangement transaction. Closing remains subject to satisfaction or waiver of all requisite closing conditions, including, without limitation, approval of Loncor shareholders at the meeting and approval of the Ontario Superior Court of Justice (commercial list). The company will provide further updates as circumstances warrant and in accordance with applicable securities laws.

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 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 grams per tonne gold), and the Adumbi deposit and two neighbouring deposits hold an inferred mineral resource of 2.09 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 of the Adumbi deposit and announced the results of the PEA in December, 2021.

About Chengtun Mining Group Co. Ltd.

Chengtun Mining specializes in developing new energy metal resources. The company's core operations include mining and refining of energy metals and base metals, with strategic focus on copper, cobalt and nickel for new energy batteries. The company has also identified gold and other precious metals as a key strategic business area for future development. Chengtun owns and operates mines in the Democratic Republic of the Congo, most notably the Kalongwe copper-cobalt mine. Chengtun Mining is publicly listed on the Shanghai Stock Exchange under the ticker 600711.

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