Mr. Luke Alexander reports

NEWCORE GOLD ANNOUNCES UPSIZED $15 MILLION BOUGHT DEAL FINANCING

In connection with Newcore Gold Ltd.'s previously announced bought deal financing, it has entered into an amended agreement with Haywood Securities Inc., on its behalf and on behalf of a syndicate of underwriters, to increase the size of the offering pursuant to which the underwriters have agreed to purchase, on a bought deal basis, 28.31 million common shares of the company at a price of 53 cents per common share for aggregate gross proceeds to the company of $15,004,300.

The company intends to use the net proceeds of the offering to finance exploration and development activities at the company's Enchi gold project in Ghana, as well as for general corporate and working capital purposes as described in the offering document.

The offering is expected to close on or about May 28, 2026, or such other date as may be agreed to by the company and the underwriters. Closing is subject to certain customary conditions, including, but not limited to, the receipt of all necessary approvals including the conditional approval of the TSX Venture Exchange and the applicable securities regulatory authorities. Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 -- Prospectus Exemptions, the offering is being made to purchasers' resident in Canada, except Quebec, pursuant to the listed issuer financing exemption under Part 5A of NI- 45-106, as amended and supplemented by Coordinated Blanket Order 45-935 -- Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. The common shares offered under the listed issuer financing exemption will not be subject to a hold period in accordance with applicable Canadian securities laws.

There is an amended and restated offering document related to the offering that can be accessed under the company's profile on SEDAR+ and on the company's website. Prospective investors should read this offering document before making an investment decision.

About Newcore Gold Ltd.

Newcore Gold is advancing its Enchi gold project located in Ghana, Africa's largest gold producer. Newcore Gold offers investors a unique combination of top-tier leadership, who are aligned with shareholders through their 13-per-cent equity ownership, and prime district-scale exploration opportunities. Enchi's 248-square-kilometre land package covers 40 kilometres of Ghana's prolific Bibiani shear zone, a gold belt which hosts several multimillion-ounce gold deposits, including the Chirano mine 50 kilometres to the north. Newcore's vision is to build a responsive, creative and powerful gold enterprise that maximizes returns for shareholders.

We seek Safe Harbor.