Mr. Alex Klenman reports

LEOCOR GOLD APPLAUDES INTREPID METALS RECENT DRILL RESULTS AT THE CORRAL COPPER PROPERTY, ARIZONA, USA

Leocor Gold Inc. has provided an update to shareholders on recent significant news from Intrepid Metals, a Canadian company focused on exploring for high-grade essential metals such as copper, silver, lead and zinc mineral projects in proximity to established mining jurisdictions in southeastern Arizona, United States.

In January of this year, the company announced the completion (see company news release dated Jan. 8, 2024) of a $3-million strategic investment in Intrepid for the purpose of advancing Intrepid's world-class copper and gold projects in Arizona.

On July 9, Intrepid announced final results from its initial drill program on the Corral copper property in Cochise county, Arizona. The final three holes contain the highest-grade intercept from the initial drill program and are all located within the Ringo zone, which is located along the southern margin of the 3.5-kilometre-long trend of near surface copper-gold-silver-zinc mineralization.

Highlights from the final drill holes include:

• 112.95 metres (m) of 1.50 per cent copper (Cu), 0.53 gram per tonne (g/t) gold (Au) and 8.22 g/t silver (Ag) (1.66 per cent copper equivalent (CuEq)) in hole CC24_023, including:
  • 63.40 m of 2.57 per cent Cu, 0.91 g/t Au and 14.14 g/t Ag (2.83 per cent CuEq);
  • 13.40 m of 6.72 per cent Cu, 1.49 g/t Au and 46.93 g/t Ag (6.90 per cent CuEq);
  • 1.40 m of 20.20 per cent Cu, 8.51 g/t Au and 250.00 g/t Ag (23.85 per cent CuEq);
• 64.95 m of 0.84 per cent Cu, 0.35 g/t Au and 2.83 g/t Ag (0.96 per cent CuEq) in hole CC24_025, including:
  • 15.65 m of 1.55 per cent Cu, 0.55 g/t Au and 2.52 g/t Ag (1.71 per cent CuEq);
  • 3.80 m of 2.75 per cent Cu, 1.07 g/t Au and 8.25 g/t Ag (3.13 per cent CuEq).

"We've ended our initial drill program at Corral with our best results," stated Ken Brophy, chief executive officer of Intrepid. "We are just beginning to scratch the surface of the potential with shallow and high-grade copper and gold mineralization within private lands at Corral Copper. We've completed additional mapping and are compiling all the data we have collected to date. This will guide our planning for our next drill program, which we anticipate taking place later this year."

"On behalf of our management team and the board of directors of Leocor, we would like to extend our congratulations to Intrepid's team for these significant drill results," said Alex Klenman, chief executive officer of Leocor Gold. "The success of the initial drill program confirms the tremendous upside at Corral. As we enter a new era of copper demand in the years ahead, these results will do much to generate value for shareholders of both Intrepid and Leocor. As a major shareholder of Intrepid, we look forward to the next phase of development at Corral," continued Mr. Klenman.

Technical information

All scientific and technical information in this news release has been prepared by, or approved by Daniel MacNeil, PGeo. Mr. MacNeil is a technical adviser to Intrepid Metals and is a qualified person for the purposes of National Instrument 43-101 (Standards of Disclosure for Mineral Projects). Mr. MacNeil has verified the drilling data disclosed in this news release, including the assay and test data underlying the information or opinions contained in this news release. Mr. MacNeil verified the data disclosed (or underlying the information disclosed) in this news release by reviewing imported and sorted assay data; checking the performance of blank samples and certified reference materials; reviewing the variance in field duplicate results; and reviewing grade calculation formulas. Mr. MacNeil detected no significant QA/QC (quality assurance/quality control) issues during review of the data and is not aware of any sampling, recovery or other factors that could materially affect the accuracy or reliability of the drilling data referred to in this news release.

About Leocor Gold Inc.

Leocor Gold is a British Columbia-based resource company involved in the acquisition and exploration of precious metal projects, with a current focus in Atlantic Canada.

We seek Safe Harbor.