Mr. Alex Klenman reports

LEOCOR GOLD RECEIVES DRILL PERMITS FOR UPCOMING WINTER CAMPAIGN AT NEWFOUNDLAND GOLD PROJECTS

Leocor Gold Inc. has provided an update on its coming drill campaign at the Baie Verte project, an approximately 2,000-hectare contiguous exploration package located in north-central Newfoundland, Canada.

The company is pleased to report it has received permit approval for its proposed coming drill program. Drill targets have been finalized (see the company news release dated Dec. 17) at both the Copper Creek and Dorset claims within its Baie Verte project area.

Geological personnel is anticipated to mobilize on or around Jan. 10 to flag trails and site holes. Drill equipment and crew are expected to arrive shortly thereafter. Drilling is scheduled to begin after trails and other logistics are completed, approximately five days after drill team arrival. Updates will be provided closer to mobilization.

Multiple drill holes at Copper Creek will target areas of known mineralization with both favourable structures and positive geochemical attributes. At Dorset, the targets are concentrated in areas where the company intersected significant gold results in its 2022 drill campaign.

Leocor's geological team, led by Resourceful Geosciences, and the drill crew (Rally Drill Services), will be conducting the drill program under the supervision of David Murray, PGeo, president of Resourceful Geosciences.

The Dorset project is highly prospective for additional high-grade gold zones, and the 2025 program will be designed to test some of the priority zones within a prominent one-by-two-kilometre gold-in-soil anomaly delineated by Leocor in 2022.

Qualified person

The technical information contained in this press release has been previously published, and was reviewed and approved at that time by Mike Kilbourne, PGeo, and Jodie Gibson, PGeo, both independent qualified persons as defined in National Instrument 43-101.

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.

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