Leocor Mining Inc. — Regulatory Filings 2021

Feb 1, 2021

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FORM 51-102F3 MATERIAL CHANGE REPORT

1. NAME AND ADDRESS OF COMPANY

Leocor Gold Inc. Suite 303, 750 West Pender Street Vancouver, BC V6C 2T7

2. DATE OF MATERIAL CHANGE

February 1, 2021

3. PRESS RELEASE

The press release was issued on February 1, 2021 and was disseminated through the facilities of a recognized newswire services. A copy of the press release was filed on SEDAR.

4. SUMMARY OF MATERIAL CHANGE

Leocor Gold upgrades US listing to OTCQB.

5. FULL DISCLOSURE OF MATERIAL CHANGE

Full Description of Material Change

Vancouver, British Columbia, February 1, 2021 Leocor Gold Inc. (the " Company " or " Leocor ") (CSE: LECR, OTCQB: LECRF; Frankfurt: LGO) is pleased to announce that its common shares have commenced trading on the OTCQB marketplace under the symbol “LECRF”. The Company’s common shares will continue to trade on the Canadian Securities Exchange under the symbol “LECR”.

The Company expects that the listing on the OTCQB will provide greater visibility and convenience of trading for US investors, resulting in enhanced liquidity going forward.

“Upgrading to the OTCQB gives Leocor the ability to access a wider audience which is a critical component to the company’s development” said Alex Klenman, CEO. “The US investing and trading capabilities are obviously significant. The upgraded listing gives US investors greater ease to buy and trade our stock, and provides added confidence in the company,” continued Mr. Klenman.

The OTCQB Venture Market is for early stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the company on www.otcmarkets.com

Leocor Gold in Baie Verte, Newfoundland

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Leocor controls over 1600-hectares in the historic Baie Verte Mining District, one of the more productive gold and base metal mining regions in Canada. The former Terra Nova base metal mine – one of several copper mines of the region, which operated during the late 1880’s to early 1900’s – lies 200 meters west of Leocor’s Copper Creek claims. Former gold mining operations in the area include the Goldenville mine (of 1903-1906), located 8 km NE of the property, and the more recent Nugget Pond mine (1997-2000) of the eastern Baie Verte Peninsula area. Currently producing mines in the area include the Rambler base metal-gold mine (1961-present), located 14 km ESE of Baie Verte, and the Pine Cove Mine and Stogertite deposit (collectively, 2011-present) located 1.6 km and 5.4 km NE of the Company’s project claims.

The Company’s Dorset Gold Project is a 275-hectare gold exploration project, located south of the Pine Cove gold mine, Baie Verte mining district, north-central Newfoundland, Canada, with multiple zones of high-grade gold mineralization. A number of high-target areas have been delineated for follow-up, based on the historic work, which includes the following highlights*:

• Dorset - 408 grams-per-tonne (“g/t”) gold (“Au”) (grab sample), 41.6 g/t Au over 1.5 metres (channel) and 9.5 g/t Au over 1.3 m in a diamond drill hole;

• Dorset extension - 56 g/t Au over 2.5 m (channel) and 2.32 g/t Au over 0.5 m (diamond drill hole);

• Braz - 314 g/t Au (grab), 40 g/t Au (grab) and 5.8 g/t over 1.9 m (channel);

• Gunshot - 162 g/t Au (grab), 18 g/t Au over 0.4 m (channel) and 5.73 g/t over 0.55 m (diamond drill hole);

• Central carbonate zone - 5.5 g/t Au (grab), 4.6 g/t Au (grab) and 0.6 g/t Au over 5.5 m (channel).

Historical results at the Company’s Copper Creek project include 3.9 g/t Au over 4 meters in a channel sample, and 16 g/t Au, 11.35 g/t Au, 9.20 g/t Au, 8.23 g/t Au, 7.33 g/t in grab samples*. The Company’s Five Mile Brook project has been subject to minimal exploration in the past but shows potentially important geological continuity to the Company’s Dorset Gold Project, which lies directly contiguous to the northern boundary.

• (Noranda, 1988-1990; Anaconda Mining 2004; Chan 2013)

Note: the reader is cautioned that rock grab samples are selective by nature and may not represent the true grade or style of mineralization across the property.

Wayne Reid, P. Geo., a qualified person as defined in National Instrument 43-101, has reviewed and approved the technical information contained in this news release.

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Figure 1: Leocor Gold holdings in the Baie Verte Peninsula, central Newfoundland, Canada

About Leocor Gold Inc.

Leocor Gold Inc is a British Columbia-based resource company involved in the acquisition and exploration of precious metal projects, with a current focus in Atlantic Canada. Leocor is a reporting issuer in British Columbia, Alberta and Ontario, and has its common shares listed for trading on the Canadian Securities Exchange under the symbol "LECR". Leocor, through outight ownership and earn-in agreements, currently controls over 1600- hectares of prime exploration ground in the prolific Baie Verte Mining District, proximal to known deposits and currently producing mines, including Anaconda Mining’s Pine Cove Mine and Stogertite deposit, and Rambler Metals’ Ming Mine.

Contact Information

Leocor Gold Inc. Alex Klenman, Chief Executive Officer Email: alexk@leocor-ventures.com Telephone: (604) 970-4330

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

Not applicable.

7. OMITTED INFORMATION

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No information has been intentionally omitted from this form.

8. 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

9. DATE OF REPORT

DATED this 1[st ] day of February, 2021.