Mr. Alex Klenman reports

LEOCOR GOLD ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Leocor Gold Inc. has completed its previously announced private placement for gross proceeds of $1-million. In connection with completion of the offering, the company has issued 20 million units at a price of five cents per unit. Each unit consists of one common share of the company and one-half of one transferable common share purchase warrant, with each warrant entitling the holder thereof to purchase one additional share at a price of 10 cents per share until Nov. 8, 2027.

In connection with the completion of the offering, the company paid finders' fees of $21,175 and issued 423,500 warrants to certain eligible third parties which assisted in introducing subscribers. All securities issued in connection with the offering are subject to a statutory period until March 9, 2025, in accordance with applicable Canadian securities laws.

The company expects to use the proceeds from the offering to advance exploration and development of its gold and copper projects in Newfoundland and for general working capital purposes.

About Leocor Gold Inc.

Leocor is a British Columbia-based resource company involved in the acquisition and exploration of precious metal projects, with a current focus in Atlantic Canada. Leocor, through outright ownership and earn-in agreements, currently controls several gold-copper projects in prime exploration ground located within the prolific Baie Verte mining district. Leocor's Baie Verte portfolio includes the Dorset, Dorset Extension, Copper Creek and Five Mile Brook projects, creating a contiguous nearly 2,000-hectare exploration corridor. The company also controls district-scale land packages in north-central Newfoundland, known as Robert's Arm, Hodge's Hill and Leamington, representing over 144,000 hectares (1,440 square kilometres) of prospective exploration ground.

We seek Safe Harbor.