NEWCORE GOLD LTD - NCAUF STOCK NEWS

Newcore Gold announced significant drill results from its 10,000-metre drill program at the Enchi Gold Project in Ghana. The company intersected the highest-grade gold interval to date at the Boin Gold Deposit, with hole KBRC301 yielding 204 g/t Au over 1.0 metre from 59m depth. Additional notable results include hole KBRC307A intersecting 3.36 g/t Au over 28.0 metres from 120m, including 37.58 g/t Au over 2.0 metres. The drilling program aims to convert Inferred Resources to Indicated and has successfully proven continuity of gold mineralization across the project.

Newcore Gold has appointed Alan Pangbourne as Strategic Advisor to advance the Enchi Gold Project. Pangbourne brings over 35 years of mining sector experience, currently serving as Non-Executive Director for OceanaGold and Chesapeake Gold. His extensive background includes roles as CEO of Guyana Goldfields, COO of SSR Mining, and VP Projects South America for Kinross Gold. The appointment aims to support Newcore's pre-feasibility study commissioning and ongoing drilling operations at the Ghana-based project. Pangbourne's expertise in mine construction, operations, and heap leach processing is expected to be valuable for unlocking the project's potential.

Newcore Gold announced new drill results from its 10,000-metre drill program at the Enchi Gold Project in Ghana. Key highlights include intersection of 0.94 g/t gold over 54.0 metres at the Boin Gold Deposit, including 2.11 g/t Au over 7.0m and 2.08 g/t Au over 11m. The drilling program confirmed gold mineralization continuity and potential for resource growth, with hole KBRC294 ending in mineralization outside current pit limits. Additional exploration work includes metallurgical testing, drone surveys, hydrogeological testing, and environmental work. The Enchi Project currently hosts an Indicated Mineral Resource of 743,500 ounces gold and an Inferred Resource of 972,000 ounces.

Newcore Gold has announced the first drill results from its 10,000-metre RC drill program at the Enchi Gold Project in Ghana. The drilling at the Boin Gold Deposit intersected 1.96 g/t gold over 62.0 metres, including 2.23 g/t gold over 28.0 metres. All drill holes confirmed the continuity of gold mineralization, promising future resource growth. Key highlights include Hole KBRC288 with 1.96 g/t gold over 62.0 metres and 2.23 g/t gold over 28.0 metres outside the current pit limits. Other notable results include Hole KBRC289 with 1.46 g/t gold over 10.0 metres and Hole KBRC291 with multiple zones of mineralization. Further exploration work, including metallurgical tests and drone surveys, is ongoing to de-risk and develop the project. The Enchi Gold Project hosts an Indicated Mineral Resource of 743,500 ounces of gold and an Inferred Mineral Resource of 972,000 ounces.

Newcore Gold (TSX-V: NCAU, OTCQX: NCAUF) has announced its annual grant of equity incentive awards. The company has granted a total of 3,690,000 equity incentive awards, comprising 1,690,000 stock options, 1,700,000 restricted share units, and 300,000 performance share units to its employees, directors, and executives. The stock options were granted at a price of $0.29 per share with a five-year term. All awards are subject to regulatory approval and vesting provisions, and are granted under Newcore's long-term incentive plan.

Newcore Gold (TSX-V: NCAU, OTCQX: NCAUF) held its Annual General Meeting (AGM) on July 18, 2024, with shareholders voting in favor of all proposed resolutions. Key outcomes include:

1. Approval to set the number of directors at seven
2. Re-election of all incumbent directors
3. Approval of the company's new long-term incentive plan
4. Reappointment of PricewaterhouseCoopers LLP as auditors

The meeting saw participation from 73,006,572 common shares, representing 39.67% of Newcore's total issued and outstanding shares as of the record date.

Newcore Gold has announced proceeds of approximately $3.3 million from the exercise of 16,666,666 common share purchase warrants, which expired on June 28, 2024. The warrants had an exercise price of $0.20 and were originally issued on June 28, 2023, following a non-brokered private placement financing. The company's President and CEO, Luke Alexander, expressed gratitude to shareholders for their continued support. The funding will advance the Enchi Gold Project in Ghana, supporting additional drilling and exploration activities. The company is now funded for a 10,000-meter drill program with a cash balance of approximately $4.7 million. After the warrant exercise and expiration, Newcore Gold's share capital consists of 189,460,129 common shares issued and outstanding, with 11,270,000 stock options and 1,371,000 RSUs and PSUs, and no additional warrants outstanding.

Newcore Gold has initiated a 10,000-metre drill program at its Enchi Gold Project in Ghana. The program aims to refine and expand current resources through infill and resource expansion drilling, targeting near-surface oxide and shallow sulphide mineralization. Focus areas include Sewum and Boin deposits, with efforts concentrating on increasing resource confidence levels. Funded with approximately $3.3 million from warrant exercises, the project also includes additional exploration activities like metallurgical testwork and trenching. Enchi's district scale exploration potential remains largely untapped, presenting significant opportunities for future resource growth.

Newcore Gold has filed the technical report for the updated Preliminary Economic Assessment (PEA) for its Enchi Gold Project in Ghana. The PEA, prepared by Lycopodium Minerals Canada, suggests a low capital intensity, open pit, heap leach operation processing 8.1 million tonnes annually. At a gold price of $1,850/oz, pre-tax NPV is $586 million with a 77% IRR, while after-tax NPV is $371 million with a 58% IRR. Peak production is expected to reach 155,188 ounces in year 6, with a life-of-mine production of 1.1 million ounces over nine years. Initial capital costs are estimated at $106 million, with operating costs at $801/oz and all-in sustaining costs at $1,018/oz. The project shows significant growth potential given its 248 km2 property with less than 10% explored.