Mr. John Barker reports

LONCOR GOLD PROVIDES OPERATIONS UPDATE: NO IMPACT FROM GOMA UNREST, WITH THE ONGOING DRILLING AT ADUMBI CONTINUING UNAFFECTED

Operations and logistics for Loncor Gold Inc.'s Adumbi gold exploration project remain unaffected by the recent developments in the city of Goma, which is about 746 kilometres southeast from Adumbi. Two drill rigs continue to drill the Adumbi deposit with the aim of furthering the resource toward the company's five-million-ounce target.

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 is focused on the Imbo project, where the Adumbi deposit holds an indicated mineral resource of 1.88 million ounces of gold (28,185,000 tonnes grading 2.08 g/t 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 of the Adumbi deposit and announced the results of the PEA in December, 2021.

Technical report

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.

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