Mr. Luke Alexander reports

NEWCORE GOLD ANNOUNCES ANNUAL GRANT OF EQUITY INCENTIVE AWARDS

Newcore Gold Ltd. has made an annual grant of equity incentive awards. Newcore has granted 1.54 million stock options and 531,000 restricted share units to employees, directors and executives of the company. The stock options were granted at a price of 20 cents per share for a period of five years. The equity incentive awards are subject to regulatory approval, are granted under the company's long-term incentive plan and are subject to vesting provisions.

About Newcore Gold Ltd.

Newcore is advancing its Enchi gold project located in Ghana, Africa's largest gold producer (1). Newcore offers investors a unique combination of top-tier leadership, which is aligned with shareholders through its 20-per-cent equity ownership, and prime district-scale exploration opportunities. Enchi's 216-square-kilometre land package covers 40 kilometres of Ghana's prolific Bibiani shear zone, a gold belt which hosts several five-million-ounce gold deposits, including the Chirano mine 50 kilometres to the north. Newcore's vision is to build a responsive, creative and powerful gold enterprise that maximizes returns for shareholders.

(1) Source: production volumes for 2022 as sourced from the World Gold Council.