Mr. Paul Dumas reports

PRECORE GOLD COMPLETES HIGH-RESOLUTION MAGNETIC SURVEY BEYOND ARIKEPAY'S HISTORICAL DRILLING

Precore Gold Corp. has completed a drone-based magnetic survey (MagDrone) at its flagship Arikepay gold project in southern Peru. The survey represents an important step in Precore Gold's systematic effort to understand the full scale and architecture of the mineralized system, and to identify the most compelling targets for the company's inaugural drill campaign.

Key objectives of the MagDrone campaign

A total of 51 survey lines at 50-metre spacing and six control lines were surveyed for a total of 128.13 kilometres, covering an area of 579 hectares. This high-resolution magnetic survey covered the property's known mineralized zones and extended beyond its boundaries to help identify additional targets at the Arikepay project.

High-resolution magnetic data are expected to help map buried structures, intrusive bodies, and alteration patterns that may be associated with gold and copper mineralization.

The campaign may also reveal unrecognized faults, structural corridors and intersections, and possible extensions of known mineralization beneath shallow cover and away from historical drill holes.

The concessions are located in the Andean foothills. The general topography consists of more or less rounded peaks, corresponding to the remnants of a mature landform where the lithology is dominated by continental sediments, such as the Moquegua formation, and recent alluvial terrace material, leaving no visible outcrops on the property.

Additionally, as part of the information-sharing package gained through Arikepay's option agreement, Precore Gold received magnetic survey data collected by helicopter (HeliMag). The survey was conducted in May, 2012, by the company, Geophysics One. The study area, which is rectangular in shape and measures approximately nine kilometers by 10 kilometres, was flown over along north-south lines with line spacing of 200 metres and 100 metres at an average altitude of 39 metres above ground level. This regional survey covers all of Precore's concessions and will be reanalyzed and combined with the data from Precore's MagDrone survey.

Paul A. Dumas, executive chairman of Precore Gold, commented: "The launch of this airmag survey is an exciting moment for the Arikepay project because it allows us to look beyond individual historical drill holes and begin seeing Arikepay as a continual mineral system. Put simply, the survey should help show us where the important structures continue beneath the surface -- and where the next compelling drill targets may be hiding. This is the first exciting step in rebuilding the geological story of Arikepay from the ground up. Every new layer of data is intended to sharpen our understanding and improve the quality of the drill targets we ultimately test."

Property-wide view beneath the surface

An airborne magnetic survey measures small changes in the Earth's magnetic field from a drone flying closely spaced lines over the property. In simple terms, it allows the geological team to build a detailed picture of rock types and major geological features beneath surface cover -- across the entire project and far beyond the limited areas tested by historical drilling.

This is particularly important at Precore Gold's Arikepay project, as mineralizing fluids commonly travel through faults, fractures and contacts between different rock types. These features can leave magnetic signatures -- or areas where magnetism has been reduced by alteration. This will assist the company's technical team to trace the broader system. The survey is intended to provide a consistent, high-resolution data set across the project and highlight geological patterns that may not be visible from historical drill information alone. Furthermore, Arikepay is mostly covered with several meters of what looks like sand drift (alluvial terrace material), with no visible outcrops or structures. With this information, Precore expects to rank targets more confidently and design drill holes that test the project's potential more effectively.

Preliminary results have been received. Upon the completion of the review and interpretation of the new geophysical data, Precore intends to continue additional predrilling exploration work at Arikepay in order to finalize drill targets. Results of this campaign and a project update is expected to be shared with the market over the next few weeks.

Qualified person

The scientific and technical content of this news release has been reviewed and approved by Louis Gariepy, PEng (OIQ No. 107538), director and lead technical adviser of Precore Gold, who is a qualified person within the meaning of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About Precore Gold Corp.

Precore Gold is a Canadian junior gold exploration company focused on building a solid portfolio of exploration projects with strong gold discovery potential, in order to capture the strength of the gold market and to generate long-term shareholder returns. The company is focused on its flagship properties, the Arikepay property in Arequipa, Peru and the Lac Big-Rush property in Chibougamau, Que. The company plans to seize opportunities whereby promising properties are located in prolific mining camps, in politically stable jurisdictions, that contain important historical drilling results that have not seen any follow-up work in years. Precore Gold's mission is underpinned by diligent environmental, social and corporate governance (ESG) standards.

We seek Safe Harbor.