Mr. Alex Klenman reports

LEOCOR MINING UPDATES DRILLING PROGRESS AT THE COPPER-GOLD BAIE VERTE PROJECT IN NEWFOUNDLAND

Leocor Mining Inc. has provided an update on the continuing drill program at the 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.

Crews have begun drilling the fifth of 16 planned holes of the campaign at the Baie Verte project's Copper Creek prospect. The first two holes of the program, 25-CC-001 and 25-CC-002, intersected intervals of what is believed to be chalcopyrite mineralization. Hole 25-CC-001 intersected intermittent intervals of chalcopyrite in association with other sulphide minerals between 13.0 metres and 44. 0m down hole. Mineralized intervals range between 1.1 m to 2.3 m in drilled length and contain interpreted chalcopyrite in visually estimated modal abundances of 0.1 per cent (trace) to 4 per cent. The hole's most significant interval, with respect to length and estimated chalcopyrite abundance, 31.9 m to 34.2 m (2.3 m length) contained a visually estimated modal abundance of blebby chalcopyrite of 4 per cent.

Hole 25-CC-002 also intersected intermittent intervals of believed chalcopyrite mineralization in association with other sulphide minerals between 9.0 m and 59.2 m down hole. Mineralized intervals range in width between 0.3 m and 13.4 m in drilled length and contained interpreted chalcopyrite in visually estimated modal abundances of 0.1 per cent (trace) to 5 per cent. Hole 25-CC-002's most significant interval by drilled length is 20 m to 33.4 m (13.4 m drilled length) and contains blebby chalcopyrite in visually estimated modal abundances of 1 per cent.

Additional information pertaining to holes 25-CC-003 and 25-CC-004 will be provided after detailed logging.

It is important to note that these are preliminary observations, and the true grade, thickness and formal characterization of the mineralization will only be determined once assay results are received. Samples of mineralized intervals are being prepared for geochemical analysis by SGS, an accredited laboratory, and the company expects to receive results within four weeks.

Table 1 details drill hole collar information. Collar co-ordinates are planned, or spot locations as final location survey are not complete.

Drilling crews continue to build trails and level drill pads in Copper Creek prior to mobilizing equipment in preparation for drilling at the company's Dorset prospect. Exploring gold mineralization targets defined by anomalous surface geochemistry, ground magnetometer survey interpretation and the company's previous results (see company news releases).

Drill hole targeting

Multiple drill holes at Copper Creek are targeting 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 detailed the company's Sept. 19, 2023, news release. 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 prospective for additional gold occurrences 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.

For more information regarding Leocor's Baie Verte project, including detailed figures, assessment details and historic data, please visit the company's website.

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 (collectively Western Exploits), representing over 144,000 hectares (1,440 square kilometres) of prospective exploration ground.

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