Leocor Mining Inc. — Capital/Financing Update 2026

Apr 1, 2026

FORM 51-102F3
MATERIAL CHANGE REPORT

1. NAME AND ADDRESS OF COMPANY
   Leocor Mining Inc.
   Suite 303, 750 West Pender Street
   Vancouver, BC
   V6C 2T7

2. DATE OF MATERIAL CHANGE
   March 26, 2026

3. NEWS RELEASE
   The news release was issued on March 26, 2026 and was disseminated through the facilities of a recognized newswire services. A copy of the news release was filed on SEDAR.

4. SUMMARY OF MATERIAL CHANGE
   Leocor Mining Inc. completed its previously announced non-brokered private placement of units of the Company (the “Units”) by the sale and issuance of 80,000,000 Units, at a price of $0.05 per Unit, for gross proceeds of $4,000,000 (the ”Private Placement”).

5. FULL DISCLOSURE OF MATERIAL CHANGES

5.1 Full Description of Material Change
VANCOUVER, British Columbia (March 26, 2026) - Leocor Mining Inc. (CSE: LECR, OTCQB: LECRF, Frankfurt: LGO0) (“Leocor” or the “Company”) (formerly Leocor Gold Inc.) is pleased to announce that the Company has completed the Private Placement by the sale and issuance of 80,000,000 Units, at a price of $0.05 per Unit, for gross proceeds of $4,000,000. Each Unit consisted of one common share of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”), with each Warrant exercisable to purchase one additional Common Share for a period of 3 years from the date of closing at an exercise price of $0.10.

The Company expects to utilize net proceeds from the Private Placement to exercise certain convertible securities of Intrepid Metals Corp. held by the Company and for general working capital purposes.

One insider of the Company, by virtue of holding more than 10% of the common shares of the Company (the “Insider”), purchased an aggregate 20,000,000 Units under the Private Placement. The Insider’s participation constitute a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (“MI 61-101”). Such transactions are exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of any securities issued to nor the consideration paid by such person exceeds 25% of the Company’s market capitalization. The Company did not file a material change report 21 days prior to the closing of the Private Placement as the details relating to the participation of the Insiders were not settled until shortly prior to the closing of the Private Placement. Further information regarding the Private Placement will be provided in a material change report to be filed by the Company.

The Company did not pay any finders' fees with respect to the Private Placement.

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All securities issued in connection with the Private Placement will be subject to restrictions on resale for a period of four-months-and-one-day in accordance with applicable securities laws.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the US. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom.

All references to currency in this news release are to Canadian currency.

1. RELIANCE ON SUBSECTION 7.1(2) OF NATIONAL INSTRUMENT 51-102

Not applicable.

1. OMITTED INFORMATION

No information has been intentionally omitted from this form

1. EXECUTIVE OFFICER

The name and business number of an officer of the Company through whom an executive officer who is knowledgeable about the material change and this report may be contacted is:

Alex Klenman
Chief Executive Officer
Tel: 604-970-4330

1. DATE OF REPORT

DATED this 1st day of April, 2026.

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