Mr. Luke Alexander reports

NEWCORE GOLD INCREASES DRILL PROGRAM TO 60,000 METRES AT THE ENCHI GOLD PROJECT, GHANA

On the back of the success achieved to date with drilling at Newcore Gold Ltd.'s Enchi gold project in Ghana and additional cash proceeds of approximately $10-million from the exercise of warrants that were exercised prior to expiry on Feb. 27, 2026, Newcore Gold has increased its current drill program to 60,000 metres, with three active drill rigs on site.

Luke Alexander, president and chief executive officer of Newcore, stated: "We are excited to be in a strong cash position to continue to advance the development of our Enchi gold project while unlocking the district-scale potential through the drill bit. With the prefeasibility study well under way and on track for completion by the end of June, 2026, our drilling has shifted focus to defining the longer-term growth potential at Enchi within the high-grade structures that extend at depth. We have a busy year ahead as we focus on project development alongside exploration to further realize the potential of our Enchi gold project in Ghana."

Greg Smith, vice-president of exploration of Newcore, stated: "We have an active year ahead as drilling continues at Enchi with a focus on resource growth, with an expanded 60,000-metre drill program under way and three drill rigs active on site. The first phase of our drill program delivered strong results targeting shallow gold mineralization, highlighting strong continuity and wide zones of mineralization within the first 100 vertical metres. With the drill program now in its second phase at Enchi, targeting mineralization below a vertical depth of 200 metres, we look forward to building on the exciting first diamond drill results as we prove out the higher-grade potential at depth."

In addition to drilling, development work in support of advancing the Enchi gold project continues with a prefeasibility study targeted for completion by the end of June, 2026. Further work is under way to advance the technical merits of the project, including metallurgical test work, hydrogeological testing, geotechnical work and environmental work.

Enchi current drill program

The 60,000-metre drill program under way at Enchi commenced August, 2024, targeting near-surface oxide and shallow fresh mineralization. The drill program is in its second phase and is focused on discovery and resource growth, including drilling targeting the potential for resource growth along strike at existing deposits, along with diamond drilling targeting the higher-grade potential at depth. The primary goal of the completed first phase of the drill program was reverse circulation (RC) infill drilling for resource conversion to improve the confidence level of the existing mineral resource estimate, with most of the first phase of the drill program allocated to the two largest deposits at Enchi, Boin and Sewum. All deposit areas and preresource targets at Enchi remain open along strike and at depth, providing for future resource growth across the district-scale property.

Newcore Gold best practice

Newcore is committed to best-practice standards for all exploration, sampling and drilling activities. Drilling was completed by an independent drilling firm using industry-standard RC and diamond drill equipment. Analytical quality assurance and quality control procedures include the systematic insertion of blanks, standards and duplicates into the sample strings. Samples are placed in sealed bags and shipped directly to Intertek Labs located in Tarkwa, Ghana, for 50-gram gold fire assay.

Qualified person

Gregory Smith, PGeo, vice-president of exploration at Newcore, is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the technical data and information contained in this news release. Mr. Smith has verified the technical and scientific data disclosed herein and has conducted appropriate verification on the underlying data, including confirmation of the drill hole data files against the original drill hole logs and assay certificates.

About Newcore Gold Ltd.

Newcore Gold is advancing its Enchi gold project, located in Ghana, Africa's largest gold producer. Newcore Gold offers investors a unique combination of top-tier leadership, which is aligned with shareholders through its 13-per-cent equity ownership, and prime district-scale exploration opportunities. Enchi's 248-square-kilometre land package covers 40 kilometres of Ghana's prolific Bibiani shear zone, a gold belt that hosts several multimillion-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.

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