NEWCORE GOLD LTD - NCAUF STOCK NEWS

Newcore Gold Ltd. (TSX-V: NCAU, OTCQX: NCAUF) has filed a technical report detailing an updated Mineral Resource Estimate for its 100% owned Enchi Gold Project in Ghana. The report, effective January 25, 2023, was prepared by BBA E&C Inc. It reveals an inaugural Indicated Mineral Resource of 743,500 ounces at an average grade of 0.55 g/t Au, and an Inferred Resource of 972,000 ounces at 0.65 g/t Au. Additionally, the project now includes a high-grade underground resource of 135,900 ounces at 2.42 g/t Au. The updated estimate further supports the project's economic potential as outlined in the 2021 Preliminary Economic Assessment. The full report can be accessed on SEDAR.

Newcore Gold Ltd. has released an updated Mineral Resource Estimate for its Enchi Gold Project in Ghana, revealing an inaugural Indicated Resource of 743,500 ounces and an Inferred Resource of 972,000 ounces. Highlights include the establishment of a high-grade underground resource of 135,900 ounces at an average grade of 2.42 g/t, and the addition of a fifth deposit, Tokosea, with 46,900 ounces of inferred resources. This estimate supports strong project economics previously outlined in the 2021 Preliminary Economic Assessment at a gold price of US$1,650 per ounce. Further drilling indicates the potential for future resource growth across the 216 km² property.

Newcore Gold Ltd. (NCAUF) updates exploration activities at its Enchi Gold Project in Ghana. Key highlights include: an updated Mineral Resource Estimate scheduled for January 2023, incorporating data from a 90,000-meter drill program; ongoing diamond drilling at the Nyam Gold Deposit targeting high-grade mineralization; trenching across kilometer-scale gold anomalies revealing promising results; and continued metallurgical testing. The company is equipped with $5 million in cash for the program, aiming to define additional resource growth and support future economic assessments.

Newcore Gold Ltd. has reported favorable outcomes from metallurgical tests at its Enchi Gold Project in Ghana, achieving an average gold recovery of 92.4% from three column tests on samples from the Sewum and Boin deposits. The tests demonstrated a recovery range of 89.0% to 98.6%%. Notably, the study revealed low reagent consumption, with an average cyanide usage of 0.63 kg/t. Newcore is planning further metallurgical work, including tests on sulphide mineralization in 2023, which may refine processing strategies for heap leaching and optimize resource recovery.

Newcore Gold Ltd. (TSX-V: NCAU, OTCQX: NCAUF) announced the initiation of a 5,000 metre drill program at its 100% owned Enchi Gold Project in Ghana. This program aims to explore both high-grade sulphide mineralization at depth and near-surface oxide resources. The company is fully funded for the drilling following a $5 million equity financing completed in July 2022. The Enchi Project covers 216 km², with significant potential for resource expansion and is located along a prolific gold belt, highlighting its district-scale exploration opportunities.

Newcore Gold Ltd. (TSX-V: NCAU, OTCQX: NCAUF) announced the annual grant of equity incentive awards, issuing 1,690,000 stock options and 320,000 restricted share units to employees, directors, and executives. The stock options are priced at $0.30 per share for five years and are subject to vesting and regulatory approval. Newcore is advancing its Enchi Gold Project in Ghana's Bibiani Shear Zone, which has a strong gold production potential. The company emphasizes shareholder alignment with management holding 24% equity.

Newcore Gold Ltd. announced successful completion of its 90,000 metre drill program at the Enchi Gold Project in Ghana. The program confirmed resource growth potential at all four deposits, with high-grade gold intervals found, including 95.16 g/t Au over 2.0 m at Boin. Three new greenfield discoveries were reported, expanding the gold mineralization footprint. Key highlights also include a planned updated Mineral Resource Estimate by late 2022. Institutional shareholders currently own about 40% of Newcore, reflecting strong market confidence.