Mr. John Barker reports

LONCOR GOLD ANNOUNCES ELECTION OF DIRECTORS

The six nominees listed in Loncor Gold Inc.'s management information circular for the annual and special meeting of shareholders of the company held on Friday, June 30, 2023, were elected at the meeting as directors of Loncor. The vote was conducted by a show of hands. Attached are details of this vote.

Voting results on all matters voted on at the meeting have been filed on SEDAR.

About Loncor Gold Inc.

Loncor is a Canadian gold exploration company focused on the Ngayu greenstone gold belt in the northeast of the Democratic Republic of the Congo. The Loncor team has over two decades of experience of operating in the DRC. Loncor's growing resource base in the Ngayu belt currently comprises the Imbo and Makapela projects. At the Imbo project, the Adumbi deposit holds an indicated mineral resource of 1.88 million ounces of gold (28,185,000 tonnes grading 2.08 grams per tonne gold), and the Adumbi deposit and two neighbouring deposits hold an inferred mineral resource of 2.09 million ounces of gold (22,508,000 tonnes grading 2.89 g/t Au), with 84.68 per cent of these resources being attributable to Loncor. Following a drilling program carried out by the company at the Adumbi deposit in 2020 and 2021, the company completed a preliminary economic assessment (PEA) of the Adumbi deposit and announced the results of the PEA in December, 2021. The Makapela project (which is 100 per cent owned by Loncor and is located approximately 50 kilometres from the Imbo project) has an indicated mineral resource of 614,200 ounces of gold (2.20 million tonnes grading 8.66 g/t Au) and an inferred mineral resource of 549,600 ounces of gold (3.22 million tonnes grading 5.30 g/t Au).

Qualified person

Peter N. Cowley, who is president of Loncor and a qualified person as such term is defined in National Instrument 43-101, has reviewed and approved the technical information in this press release.

Technical reports

Additional information with respect to the company's Adumbi deposit (and other properties of the company within its Imbo project) is contained in the technical report of New Senet Pty. Ltd. and Minecon Resources and Services Ltd. dated Dec. 15, 2021, and entitled "NI 43-101 Preliminary Economic Assessment of the Adumbi Deposit in the Democratic Republic of the Congo." A copy of the said report can be obtained from SEDAR and EDGAR.

Additional information with respect to the company's Makapela project and certain other properties of the company in the Ngayu gold belt is contained in the technical report of Venmyn Rand Pty. Ltd. dated May 29, 2012, and entitled "Updated National Instrument 43-101 Independent Technical Report on the Ngayu Gold Project, Orientale Province, Democratic Republic of the Congo." A copy of the said report can be obtained from SEDAR and EDGAR.

We seek Safe Harbor.