Mr. Paul Dumas reports

PRECORE GOLD ANNOUNCES UP TO C$6 MILLION PRIVATE PLACEMENT

Precore Gold Corp. intends to conduct a non-brokered private placement through the issuance of up to 30 million units of the company at a price of 20 cents per unit for the gross proceeds of up to $6-million. Each unit will consist of one common share in the capital of the company and one-half of one common share purchase warrant. Each warrant will entitle the holder to acquire one additional common share at an exercise price of 28 cents for a period of two years from the date of issuance. The warrants contain an acceleration clause, whereby the company may accelerate the expiry of the warrants to a date that is 30 days following the date upon which the common shares trade at a 30-day volume-weighted average trading price exceeding 70 cents per common share. The proceeds from the offering will be used to finance exploration work and for general working capital purposes.

Argonaut Securities Pty. Ltd., which is part of Argonaut Ltd., and its clients will be permitted to participate as cornerstone investors in the offering for a total of $4-million.

In connection with the offering, the company may pay Argonaut: (i) a cash fee equal to 6 per cent of the gross proceeds received from subscribers sourced by Argonaut; and (ii) warrants equal to 6 per cent of the number of common shares issued in connection with the subscribers sourced by Argonaut, with each finder warrant entitling the holder thereof to purchase one common share at an exercise price of 28 cents per share for a period of 24 months following the closing of the offering. The company may also pay finders' fees or commissions to other parties in respect of subscriptions from purchasers identified by the company, including subscriptions of up to $2-million sourced under a president list.

Argonaut Corporate Finance Ltd., an affiliate of Argonaut, is acting as financial adviser to the company in connection with the offering. Pursuant to an advisory engagement letter, Argonaut is entitled to receive from the company: (i) a monthly advisory fee of $5,000 for an initial term of 12 months; and (ii) 1.5 million options of the company, with each advisory option entitling Argonaut to acquire one common share at an exercise price of 28 cents per common share for a period of two years from the date of grant.

All securities issued and issuable pursuant to the offering will be subject to a statutory hold period in Canada of four months plus one day from the date of issuance in accordance with applicable Canadian securities legislation.

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.