Mr. Alex Klenman reports

LEOCOR MINING BEGINS DRILLING AT ITS COPPER-GOLD BAIE VERTE PROJECT IN NEWFOUNDLAND

Drilling has commenced at Leocor Mining Inc.'s Baie Verte project, a 2,002-hectare contiguous exploration package located on the north-central coast of the island of Newfoundland in the province of Newfoundland and Labrador, Canada.

Drill hole 25-CC-001, following up with drill core anomalous copper values confirmed by the company's 2022 RAB drill program at the Copper Creek prospect, began over the weekend and was completed Sunday evening at a depth of 194 metres. The next hole is under way utilizing the same drill pad, targeting a steeper down-hole angle.

"We're pleased to get the drilling under way," said Alex Klenman, chief executive officer. "These are some of the most significant anomalies we've seen. These areas absolutely need to be drill tested. We have copper and gold targets, and this first pass gives a broad look at some of the zone of interest," continued Mr. Klenman.

Work will continue this week to clear and level drill pads at the Copper Creek claims, in addition to completing the logging of 25-CC-001 and shipping the first batch of core samples for cutting and analysis by SGS.

Drill hole targeting

Multiple drill holes at Copper Creek will target areas of known mineralization identified in 2022 Rab drilling as well as previously mapped structures displaying hydrothermal alteration and anomalous base and precious metal geochemistry from soil and rock sampling. At the Dorset claim, drilling targets are concentrated in areas where the company intersected significant gold results during its 2022 RAB drilling campaign. The drill program is being conducted under the supervision of David Murray, PGeo, president of Resourceful Geosciences. The company will provide an update early next week.

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.

Name change

The company recently announced (see news releases dated Jan. 20 and Jan. 21, 2025) that it had applied for a name change to Leocor Mining Inc. This change reflects the company's strategic aim to pursue additional and potentially significant mineral opportunities such as copper and silver both within its landholdings in Newfoundland and elsewhere. The name change became effective at the opening of markets on Jan. 22, 2025, at which time the common shares of the company commenced trading under the new name and the existing ticker symbol LECR. There has been no change in corporate structure in connection with the name change. The Cusip for the common shares of the company changed to 52637M103.

Qualified person

David Murray, PGeo, principal consultant at Resourceful Geoscience Solutions Inc., an independent qualified person within the meaning of National Instrument 43-101 -- Standards of Disclosure for Minerals Projects, has reviewed and approved the technical information presented herein.

About Leocor Mining Inc. (formerly Leocor Gold Inc.)

Leocor Mining 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 Bae 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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