Mr. Alex Klenman reports

LEOCOR MINING UPDATES CURRENT DRILL PROGRAM 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 continue drilling on the 13th of 19 planned holes of the campaign at the Baie Verte project's Copper Creek prospect. Following the previously reported occurrences of believed chalcopyrite mineralization in holes 25-CC-001 and 25-CC-002, eight of the subsequent 11 drill holes have also encountered mineralization interpreted to be chalcopyrite over various lengths and in various visually estimated abundances. Highlights are described in further detail below.

Hole 25-CC-005 intersected intermittent intervals of interpreted chalcopyrite in association with other sulphide minerals between 5.3 metres and 40.4 m downhole. Mineralized intervals range between 0.4 m to 3.8 m in drilled length and contain interpreted chalcopyrite in visually estimated modal abundances of 0.1 per cent (trace) to 2 per cent. The hole's most significant interval, with respect to estimated chalcopyrite abundance, 31.4 m to 33.4 m (two m length), contained a visually estimated modal abundance of blebby chalcopyrite of 2 per cent.

Hole 25-CC-007 intersected intermittent intervals of interpreted chalcopyrite in association with other sulphide minerals between 100.6 m and 162.4 m downhole. Mineralized intervals range between 0.1 m to 10.8 m in drilled length and contain interpreted chalcopyrite in visually estimated modal abundances of 0.1 per cent (trace) to 3 per cent. The hole's most significant interval, with respect to estimated chalcopyrite abundance, 133.6 m to 138 m (4.4 m length), contained a visually estimated modal abundance of blebby chalcopyrite of 3 per cent.

Hole 25-CC-010 intersected intermittent intervals of interpreted chalcopyrite in association with other sulphide minerals between 11.5 m and 22.0 m downhole. Mineralized intervals range between 1.1 m to 2.9 m in drilled length and contain interpreted chalcopyrite in visually estimated modal abundances of 0.1 per cent (trace) to 3 per cent. The hole's most significant interval, with respect to estimated chalcopyrite abundance, 20.0 m to 22.0 m (two m length), contained a visually estimated modal abundance of blebby chalcopyrite of 3 per cent.

Holes 25-CC-006, 009 and 011 also intersected mineralization believed to be chalcopyrite but not in estimated abundances or drilled lengths deemed to be significant at this time.

Additional information pertaining to holes 25-CC-012 and 25-CC-013 will be provided after detailed logging.

It is important to note that these are preliminary observations, and the true grade and thickness 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.

Drilling crews continue to build trails and level drill pads in Copper Creek before mobilizing equipment to prepare planned 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 trenching results reported (see company news releases on the company's website).

Drill hole targeting

Multiple drill holes at Copper Creek are targeting areas of known mineralization identified in 2022 RAB (rotary air blast) 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 in the company's Sept. 19, 2023, news release. The drill program is being conducted under the supervision of David Murray, PGeo, president of Resourceful Geoscience. 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-kilometre by two km gold-in-soil anomaly delineated by Leocor in 2022.

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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