Mr. Arnold Kondrat reports

LONCOR GOLD ANNOUNCES SHAREHOLDER APPROVAL OF ACQUISITION BY CHENGTUN MINING

Loncor Gold Inc. shareholders, at the company's special meeting of shareholders, held earlier today, voted in favour of the previously announced acquisition of the company by Chengtun Mining Group Co. Ltd., through its wholly owned subsidiary, Chengtun Gold Ontario Inc., pursuant to a plan of arrangement under the Ontario Business Corporations Act.

The completion of the arrangement required the approval of at least: (i) 66-2/3rds per cent of the votes cast at the meeting by shareholders present in person or by proxy and entitled to vote at the meeting; and (ii) a simple majority of the votes cast at the meeting by shareholders present in person or by proxy and entitled to vote at the meeting, excluding votes cast in respect of common shares of the company beneficially owned, or over which control or direction is exercised, by persons whose votes must be excluded in accordance with Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions.

The matter voted upon at the meeting and the results of the voting are detailed in the attached table.

Closing of the transaction remains subject to the receipt of a final order in respect of the arrangement from the Ontario Superior Court of Justice (Commercial List), and satisfaction or waiver of the other conditions to closing contained in the arrangement agreement entered into by the company and the purchaser dated Oct. 14, 2025. The company will provide further updates related to the arrangement as they become available.

Further details regarding the arrangement are provided in the company's information circular prepared in connection with the meeting, which is available on the company's SEDAR+ profile and on 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 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 (g/t) 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 (PEA) of the Adumbi deposit and announced the results of the PEA in December, 2021.

Additional information with respect to Loncor and its projects can be found on Loncor's website.

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 DRC, 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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