Mr. Paul Dumas reports

PRECORE GOLD MAGDRONE SURVEY DEFINES KILOMETER-SCALE GOLD AND COPPER-GOLD PORPHYRY SYSTEMS ALONG MAJOR ANDEAN STRUCTURE AT ARIKEPAY, PERU

Precore Gold Corp. has released the results from the high-resolution drone magnetic survey (MagDrone) that was recently completed (see news release dated Sept. 16, 2026) at its flagship, the Arikepay gold-copper project, located in southern Peru.

MagDrone highlights:

• Firstly, the 3-D magnetic susceptibility model shows a high susceptibility response over the previously interpreted 400-metre-wide-by-three-kilometre-long gold-bearing envelope, hosted in a quartz diorite porphyry.
• This magnetic response is much wider than the initially interpreted auriferous envelope, which was solely based on historic drilling.
• The expanded prospective area for gold now represents an area of 800 metres (m) wide by three kilometres (km) long, elongated according to the Andean structural trend. Only three historical drill holes were drilled in this expanded area and outside of the gold envelope.
• Secondly, the 3-D magnetic susceptibility model outlines a sizable central area of reduced magnetism coincident with the phyllic alteration zone of the Cu-Au (copper-gold) quartz felspar porphyry. The extent of this zone is approximately two km by one km with only a dozen drill holes completed historically. Furthermore, historically wide spacing up to 500 m in some places offers significant exploration potential.
• Two similar low-mag responses occur to the northeast and southwest, thus offering exploration potential for Cu-Au porphyry mineralization.
• Finally, the mag survey identified a 1.5 km long, north-south elongated mag response just east of the main Cu-Au porphyry. The only historical drill hole in this zone cut a fine-grained diorite porphyry that returned 0.24 per cent Cu over 111 m (AK-DDH-09-16) in a vertical hole. This additional magmatic phase demonstrates the multiphase character of the Arikepay complex. Magnetic mafic porphyry is frequently host to Au porphyry style mineralization. This 1.5 km long by 300 m wide target warrants drilling.

The new magnetic data provide Precore with its clearest view to date of the geological architecture beneath the Arikepay project. Most importantly, the survey has outlined a major northwest-trending contact between contrasting rock units, an extensive set of cross-cutting southwest-northeast structures and broad zones where magnetic response has been reduced. Deep Sounding Exploration Geophysics, which completed and interpreted the survey, considers these reduced-magnetic areas to be potentially related to oxidation and/or hydrothermal alteration of the igneous rocks. Magnetic data do not directly detect gold or copper; however, these structural and alteration patterns can help focus follow-up exploration toward areas considered more prospective for mineralization.

Paul A. Dumas, executive chairman of Precore Gold, commented: "These results have significantly increased our excitement about the potential of our upcoming drill campaign at Arikepay. Most importantly, our geological team has now expanded the prospective gold area from the previously interpreted 400-metre-wide zone to approximately 800 metres wide by three kilometres long. That is a very large area and much of this expanded footprint has seen little to no historical drilling. The MagDrone survey has now given us a much better picture of just how much larger the mineralized system could potentially be and, importantly, where we should be looking next."

Why the 200 m model matters

The 200 m depth model is especially useful for exploration planning because it suggests that the interpreted alteration signature is not limited to surface expression. The MagDrone results describe central and western cells as demagnetized and interprets this as potentially reflecting hydrothermal alteration. In many mineral systems, hydrothermal fluids can alter magnetic minerals in the host rock and reduce their magnetic response. This is not evidence, by itself, of gold or copper mineralization, but it provides a valuable vector that can be tested against geology, geochemistry and, ultimately, drilling.

The eastern and southeastern parts of the model contain more strongly magnetic bodies interpreted as comparatively fresh subvolcanic material. This contrast between potentially altered and fresher rocks gives Precore another tool for mapping the possible footprint and boundaries of the hydrothermal system.

Next steps

In the coming weeks, Precore geologists will initiate a full review and relog of the historical core and chips in order to build in-house knowledge of the deposits and provide a strong basis for the planning of the drill program. Precore is considering an induced polarization (IP) survey using 100 m dipoles, designed for investigation to approximately 600 m depth, with survey lines oriented southwest-northeast across the principal northwest-trending contact. The timing of this survey is to be determined. The company will evaluate if it can be conducted before the beginning of the drilling program in order to take advantage of the camp that will be installed.

Precore will continue to integrate MagDrone results with historical drilling, continuing geological work and other available data sets to prioritize targets for its planned inaugural drill campaign.

About the Arikepay project

Arikepay is located in the Arequipa region of southern Peru and covers approximately 1,800 hectares. The project hosts a multiphase mineralized intrusive complex within the Cretaceous porphyry belt of southern Peru. Historical drilling totals 13,738 m in 32 holes. Previously reported intercepts include 420 m grading 0.91 gram per tonne (g/t) gold, 1.16 g/t silver and 0.04 per cent copper from 30 m in AK-DDH-02-17, including 81 m grading 3.17 g/t gold, 2.12 g/t silver and 0.07 per cent copper from 342 m. Readers are cautioned that historical results are not necessarily indicative of future results.

Qualified person

The scientific and technical content of this news release has been reviewed and approved by Louis Gariepy, PEng (OIQ No. 107538), director and lead technical adviser of Precore Gold, who is a qualified person within the meaning of National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Precore Gold Corp.

Precore Gold is a Canadian junior gold exploration company focused on building a solid portfolio of exploration projects with strong gold discovery potential, in order to capture the strength of the gold market and to generate long-term shareholder returns. The company is focused on its flagship properties, the Arikepay property in Arequipa, Peru, and the Lac Big-Rush property in Chibougamau, Que. The company plans to seize opportunities whereby promising properties are located in prolific mining camps, in politically stable jurisdictions, that contain important historical drilling results that have not seen any follow-up work in years. Precore Gold's mission is underpinned by diligent environmental, social and corporate governance (ESG) standards.

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