Newcore Gold Ltd. (TSX-V: NCAU) (OTCQX: NCAUF) is pleased to announce additional drill results from the 80,000-metre drill program underway at the Company’s Enchi Gold Project in Ghana. Reverse Circulation Drilling at the Boin Gold Deposit encountered above reserve grade gold mineralization near-surface. Hole KBRC407 intersected oxide mineralization grading 1.16 grams per tonne gold over 41.0 metres from 2 m, including 2.54 g/t Au over 13.0 m from 25 m. Drilling continues to demonstrate the continuity of gold mineralization and potential for reserve and resource growth, as well as higher-grade mineralization, at Enchi. Results from drilling completed in 2026, including drilling targeting higher-grade mineralization at depth, are expected to be incorporated into future project economic studies and may support further mine plan optimization and resource growth.

 

Highlights from RC Drilling at the Boin Gold Deposit at Enchi

• Drilling intersected shallow gold mineralization above the mineral reserve grade.
  • Hole KBRC407 intersected oxide mineralization grading 1.16 g/t Au over 41.0 m from 2 m, including 2.54 g/t Au over 13.0 m from 25 m.
  • Hole KBRC389 intersected 1.66 g/t Au over 8.0 m from 6 m.
• Drilling intersected wide zones of gold mineralization outside the limits of the pits that constrains the Mineral Reserve Estimate.
  • Hole KBRC373 intersected 0.57 g/t Au over 59.0 m from 119 m, including 0.94 g/t Au over 16.0 m from 120 m.
  • Hole KBRC379 intersected 0.47 g/t Au over 55.0 m from 52 m, including 1.27 g/t Au over 10.0 m from 59 m.
  • Drilling highlights the potential for resource conversion and future reserve growth.
• Drilling targeted shallow mineralization within the northern portion of the deposit.
  • Hole KBRC380 intersected 1.57 g/t Au over 14.0 m from 102 m.
  • Hole KBRC385 intersected 0.96 g/t Au over 13.0 m from surface.

• Drill results not included in Mineral Resource Estimate and Pre-Feasibility Study, with drilling continuing to highlight Enchi’s longer-term prospectivity.
  • Drilling reached a maximum vertical depth of only 184 metres, with the average vertical depth of all holes drilled to date at Boin only down to 100 metres.
  • All deposits at Enchi remain open for expansion along strike and to depth.

Greg Smith, VP Exploration of Newcore stated, “Drilling continues to prove out the potential for future reserve growth as well as the higher-grade potential of our Enchi Gold Project in Ghana. This drilling focused on shallow step out holes within the north sector at Boin, both to the north and south of the existing reserve pits. These holes were drilled in an area of known mineralization with a goal of conversion of existing Inferred mineralization to Indicated, to allow for an expansion of the future reserve pit and hence inclusion of additional mineralization in future mine plans and economic studies.”

This release reports results for 24 RC holes totalling 3,370 m (KBRC373 to KBRC390, KBRC405 to KBRC410) targeting the Boin Gold Deposit, with 22 holes intersecting gold mineralization. A total of 50,470 m in 319 holes has been reported to date as part of the ongoing drill program at Enchi, with 98% of holes intersecting gold mineralization.

Select assay results from the 24 holes of the drill program reported in this release are below:

^{Notes
  1. See detailed table for complete results;
  2. Intervals reported are hole lengths with true width estimated to be 75 – 85%; and
  3. Length-weighted averages from uncut assays.}

A plan map showing the drill hole locations can be viewed at:

https://newcoregold.com/site/assets/files/6015/2026_10_06-ncau-nr-enchi-plan-map-boin.pdf

Cross sections showing drill results and highlights for holes KBRC407, KBRC379 and KBRC373 can be viewed at:

https://newcoregold.com/site/assets/files/6015/2026_10-ncau-crosssections-boin.pdf

A complete list of the drill results in this release, including hole details, can be viewed at:

https://newcoregold.com/site/assets/files/6015/2026_10_06-ncau-enchi-2024-2026-drill-results.pdf

 

RC Drilling at the Boin Gold Deposit

KBRC373 to KBRC390 and KBRC405 to KBRC410 (24 RC holes totalling 3,370 m) were completed at Boin, targeting shallow mineralization within the northern portion of the deposit. The goal of this drilling was reserve growth for future mine plan optimization, including targeting higher-grade portions of the deposit. Drilling was also designed to improve geological confidence and confirm grade continuity, to support future reserve and resource updates. Drilling targeted oxidized and shallow fresh mineralization and reached a maximum vertical depth of 184 metres. The holes reported in this news release were distributed across 10 sections spread across a 1.1 km strike length of the Boin structure.

16 RC holes totalling 2,318 m (KBRC373 to KBRC383, KBRC390, KBRC405 to KBRC408) were drilled between the central and north sector reserve pits, step out drilling to the south of the northern portion of Boin. Hole KBRC407 intersected a shallow, wide, high-grade gold zone with 1.16 g/t Au over 41.0 m from 2 m, including 2.54 g/t Au over 13.0 m from 25 m within oxide mineralization. Hole KBRC373, collared 100 metres to the north of KBRC407, intersected 0.57 g/t Au over 59.0 m from 119 m, including 0.94 g/t Au over 16.0 m from 120 m. Hole KBRC379, located a further 70 metres north, intersected a wide zone of gold mineralization with 0.47 g/t Au over 55.0 m from 52 m, including 1.27 g/t Au over 10.0 m from 59 m. Hole KBRC380, drilled on the same section as KBRC379, intersected 1.57 g/t Au over 14.0 m from 102 m. Each of these three sections include 3 to 4 subparallel gold mineralized structures, confirming the continuity of the gold zone in this portion of the Boin structure. This drilling targeted conversion of existing Inferred mineralization to Indicated to allow for an expansion of the future reserve pit and hence inclusion of additional mineralization in future mine plans and economic studies.

Two RC holes totalling 262 m (KBRC409 and KBRC410) were drilled within the existing reserve pit, confirming gold mineralization in a portion of the structure where prior drilling was completed on slightly wider spacing. KBRC409 intersected a series of gold mineralized zones highlighted by 0.56 g/t Au over 22.0 m from 78 m.

Six RC holes totalling 790 m (KBRC384 to KBRC389) were drilled on the northern edge of the existing reserve pit. Hole KBRC389 intersected near-surface oxidized mineralization including 1.66 g/t Au over 8.0 m from 6 m, and hole KBRC385 intersected 0.96 g/t Au over 13.0 m from surface. This step out drilling to the north targeted conversion of existing Inferred mineralization to Indicated, to allow for an expansion of the future reserve pit

These holes were drilled in an area of known mineralization with a goal of continuing to define and grow the future reserve potential at Enchi, including a focus on higher-grade targets. Drilling continues to highlight the potential for future mine plan optimization.

RC drilling completed at Boin continues to intersect mineralization above the reserve and resource grade and continues to confirm continuity along strike and down dip, defining and extending the principal structures which comprise the Boin Gold Deposit.

 

Enchi Work Program

An 80,000 metre drill program is underway at Enchi. The drill program is focused on resource conversion, resource growth and discovery. RC drilling is targeting near-surface mineralization (oxide, transition, and shallow fresh mineralization) focused on resource conversion and continuing to define the potential for reserve and resource growth along strike at existing deposits. Diamond drilling is targeting the high-grade potential at depth. The completed first phase of the drill program was infill drilling for resource conversion, with only the first 28,000 metres of the drill program incorporated into an updated Mineral Resource Estimate announced on March 18, 2026 that formed the basis for a Pre-Feasibility Study. All deposit areas and pre-resource targets at Enchi remain open along strike and at depth, providing for future resource growth across the district-scale property.

Development work continues at Enchi, in support of project advancement, including metallurgical testwork, hydrogeological testing, geotechnical work, and environmental work. A Pre-Feasibility Study was completed in June 2026 (see news release dated June 24, 2026), outlining a base case assessment of developing an open pit, standard milling and carbon-in-leach operation using contract mining and processing 5.5 Mtpa. Recent drilling completed at Enchi has highlighted potential for resource growth, with high-grade encountered at depth and mineralization delineated below the pits that constrain the current Mineral Reserve and Mineral Resource Estimates. Drill results reported in 2026 have not been included in the Mineral Resource Estimate and PFS.

 

Boin Gold Deposit

Boin is one of the four deposits which comprise the Mineral Reserve Estimate and Mineral Resource Estimate at Enchi (Boin has a Probable Mineral Reserve of 15.9 million tonnes grading 0.84 g/t Au containing 429,000 ounces; an Indicated Mineral Resource of 23.5 million tonnes grading 0.73 g/t Au containing 550,000 ounces; and an Inferred Mineral Resource of 9.2 million tonnes grading 0.60 g/t Au containing 178,000 ounces). Boin is located 10 kilometres south of the town of Enchi, with nearby roads and power and further access provided by a series of drill roads. Boin is outlined on surface by a greater than six-kilometre-long by up to one-kilometre-wide gold in soil anomaly. An airborne geophysical anomaly coincident with the Boin structure extends for a further kilometre north and three kilometres south beyond the limits of current drilling. To date, approximately 40% of the gold-in-soil anomaly at Boin is untested by drilling, with the average vertical depth of all holes drilled to date at Boin only down to 100 metres.

 

Drill Hole Locations

 

Enchi Gold Project Mineral Reserve and Resource Estimates

The Enchi Gold Project hosts a Probable Mineral Reserve of 51.3 million tonnes grading 0.64 g/t Au containing 1,055,000 ounces gold; an Indicated Mineral Resource of 83.6 million tonnes grading 0.56 g/t Au containing 1,502,000 ounces gold; and an Inferred Mineral Resource of 40.1 million tonnes grading 0.49 g/t Au containing 626,000 ounces. The Indicated Mineral Resources are inclusive of the Mineral Reserves. Mineral resource and mineral reserve estimation practices are in accordance with CIM Estimation of Mineral Resource and Mineral Reserve Best Practice Guidelines (November 29, 2019) and follow CIM Definition Standards for Mineral Resources and Mineral Reserves (May 10, 2014), that are incorporated by reference into National Instrument 43-101 (“NI 43-101”). The Mineral Reserve and Mineral Resource Estimate is from the technical report titled “Enchi Gold Project, Pre-Feasibility Study, NI 43-101 Technical Report” dated August 7, 2026, with an effective date of June 23, 2026, in accordance with NI 43-101, and is available under the Company’s profile on SEDAR+ at www.sedarplus.ca. The Mineral Reserve Estimate was prepared for Newcore by Grant Carlson, P. Eng. of Fuse Advisors (part of SLR); the Mineral Resource Estimate was prepared for Newcore by Ryan Wilson, P. Geo, Matthew Halliday, P. Geo, Schadrac Ibrango, P. Geo of DRA Americas Inc. These individuals are independent qualified persons within the meaning of NI 43-101.

 

Newcore Gold Best Practice

Newcore is committed to best practice standards for all exploration, sampling and drilling activities. Drilling was completed by independent drilling firms using industry standard RC and Diamond Drill equipment. Analytical quality assurance and quality control procedures include the systematic insertion of blanks, standards and duplicates into the sample strings. Samples are placed in sealed bags and shipped directly to Intertek Labs located in Tarkwa, Ghana for 50 gram gold fire assay.

 

Qualified Person

Mr. Gregory Smith, P. Geo, Vice President of Exploration at Newcore, is a Qualified Person within the meaning of NI 43-101. Mr. Smith has reviewed and approved the scientific and technical information contained in this news release and has conducted appropriate verification on the underlying data including confirmation of the drillhole data files against the original drillhole logs and assay certificates.

 

About Newcore Gold Ltd.

Newcore Gold is advancing its Enchi Gold Project located in Ghana, Africa’s largest gold producer ⁽¹⁾. Newcore Gold offers investors a unique combination of top-tier leadership, who are aligned with shareholders through their 12% equity ownership, and prime district scale exploration opportunities. Enchi’s 248 km² land package covers 40 kilometres of Ghana’s prolific Bibiani Shear Zone, a gold belt which hosts several multi-million-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.

^{(1) Source: Production volumes for 2025 as sourced from the World Gold Council.}