Mr. Luke Alexander reports

NEWCORE GOLD FILES PRE-FEASIBILITY STUDY TECHNICAL REPORT FOR THE ENCHI GOLD PROJECT, GHANA

Newcore Gold Ltd. has filed the technical report supporting the prefeasibility study for the company's Enchi gold project in Ghana.

The technical report, titled "Enchi Gold Project, Pre-Feasibility Study, NI 43-101 Technical Report," was prepared by Lycopodium (Americas) Ltd. of Mississauga, Ont., as the lead consultant, in accordance with National Instrument 43-101 (Standards of Disclosure for Mineral Projects) and has an effective date of June 23, 2026. The technical report is available under the company's SEDAR+ profile.

The PFS provides a base-case assessment of developing Enchi as a conventional open-pit mining operation with standard milling and carbon-in-leach processing 5.5 million tonnes per annum utilizing contract mining. The PFS is based on a mineral resource estimate announced by Newcore on March 18, 2026, which incorporated drilling completed through Oct. 6, 2025, and excludes more than 50,000 of additional metres from the 80,000-metre drill program under way at Enchi. Current drilling has targeted high-grade potential at depth, intersecting mineralization above the reserve and resource grade and extending the limits of the pits that constrain the mineral reserves and mineral resources. Results from drilling completed in 2026 will be incorporated into future reserve and resource estimates, as well as future project economic studies.

Further details regarding the PFS for the project are summarized in Newcore's news release dated June 24, 2026, as well as in the technical report, which is available on Newcore's website and under the company's SEDAR+ profile.

Qualified persons

The PFS for the Enchi gold project was prepared for Newcore by Lycopodium as lead study manager, with support from other industry consultants, each of whom is a qualified person within the meaning of National Instrument 43-101 and considered to be independent of the company under Section 1.5 of NI 43-101:

• Lycopodium (Canada) Ltd.: Preetham Nayak, PEng (capital cost estimate and project economics), Ryda Peung, PEng (metallurgy and mineral processing, recovery methods, and process operating costs), and Zuned Shaikh, PEng (project infrastructure);
• Fuse Advisors (part of SLR): Grant Carlson, PEng (mining and mineral reserves, mining capital, and operating costs);
• Knight Piesold: ing Ama Nketiah, Hugues Ngoy Nkulu, Martiens Prinsloo, PrSciNat, Jorge Velazquez (project infrastructure), and George Lartey-Young, CEnv (environment, social and community impact);
• DRA Americas Inc.: Ryan Wilson, PGeo, Matthew Halliday, PGeo, Schadrac Ibrango, PGeo (geology and mineral resources), and Claude Bisaillon, PEng (geotechnical pit design criteria).

Gregory Smith, PGeo, vice-president of exploration at Newcore, is a qualified person within the meaning of National Instrument 43-101. Mr. Smith has reviewed and approved the scientific and technical information contained in this news release.

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 12-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 which 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.

We seek Safe Harbor.