Newcore Gold Ltd. (TSX-V: NCAU) (OTCQX: NCAUF) is pleased to announce that it has received total proceeds of approximately $10.3 million from the exercise of 20,548,000 common share purchase warrants of the Company which expired on February 27, 2026. The Warrants had an exercise price of $0.50 and were originally issued on February 27, 2025 following the completion of a private placement financing.

Luke Alexander, President and CEO of Newcore stated, “We would like to thank our shareholders for their continued support and confidence in the Company, demonstrated through the exercise of the Warrants. Management and the Board of Directors remain strongly aligned with shareholders, collectively holding approximately 13% equity ownership. The proceeds from the Warrant exercises, together with our existing cash-on-hand, position Newcore to continue advancing and de-risking our Enchi Gold Project toward completion of a Pre-Feasibility Study by the end of June 2026. In parallel, our ongoing 45,000-metre drill program is focused on exploration drilling to depth, further delineating the larger resource potential of the Project. With the additional capital from the Warrants, we will evaluate opportunities to expand the scope of our drill program and carry out additional technical work to continue to advance and de-risk the technical merits of the Project. We look forward to a transformational year as we continue to advance and unlock the district scale potential of our Enchi Gold Project in Ghana.”

Following the exercise and expiry of the Warrants, the Company’s share capital consists of 284,385,640 common shares issued, 9,000,000 stock options and 6,742,665 RSUs and PSUs.

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 13% 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 2024 as sourced from the World Gold Council.}

On Behalf of the Board of Directors of Newcore Gold Ltd.

Luke Alexander
President, CEO & Director

For further information, please contact:

Mal Karwowska | Vice President, Corporate Development and Investor Relations
+1 604 484 4399
info@newcoregold.com
www.newcoregold.com