Newcore Gold — Board/Management Information 2020

Dec 15, 2020

NEWS RELEASE

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Newcore Gold Intersects 2.35 g/t Gold Over 11.0 Metres and 4.71 g/t Gold Over 6.0 Metres, at the Enchi Gold Project, Ghana

First Set of Drill Results from Targets Outside of the Resource Area at Enchi; Updated Preliminary Economic Assessment Commissioned.

December 15, 2020

TSX-V: NCAU

Vancouver, BC – Newcore Gold Ltd. ("Newcore" or the "Company") (TSX-V: NCAU) is pleased to provide an update on the work program underway at the Company’s 100% owned Enchi Gold Project ("Enchi" or the "Project") in Ghana, including additional results from the ongoing 58,000 metre drill program. Drilling has intersected 2.35 grams per tonne gold ("g/t Au") over 11.0 metres ("m") from 99 m, as well as 4.71 g/t Au over 6.0 m from 34 m, at the Kwakyekrom Gold Target ("Kwakyekrom") at Enchi. Drilling intersected both shallow oxide and deeper sulphide mineralization in target areas that have been previously drilled but where there currently is no defined mineral resource. Newcore is also pleased to announce it has engaged BBA Inc. independent engineering consultants to prepare an updated National Instrument 43-101 ("NI 43-101") Preliminary Economic Assessment ("PEA") study for the Project, with completion targeted for the end of Q1 2021.

Highlights

• Drill results from holes drilled at Kwakyekrom and Kojina Hill include: o Hole KKRC018 intersected 2.35 g/t Au over 11.0 m from 99 m to 110 m (sulphide zone). o Hole KKRC023 intersected 4.71 g/t Au over 6.0 m from 34 m to 40 m (oxide zone).

• Hole KJRC017 intersected 1.09 g/t Au over 20.0 m from 125 m to 145 m, including 2.52 g/t Au over 4.0 m from 125 m to 129 m (sulphide zone).

• A third drill rig is now on site . This diamond drill rig will complete the first planned deep drilling on the Project.

• Updated PEA commissioned . Completion targeted for the end of Q1 2021.

• Drilling on the Project continues with the current on-going 58,000 metre discovery and resource expansion drilling focused on drilling extensions to the existing resource zones, drilling previously drilled zones that are outside of current resources, and first pass discovery drilling to test a series of kilometre-scale gold-in-soil and geophysical anomalous zones with no prior drilling.

Luke Alexander, President & CEO of Newcore stated, "We are very happy with the progress we are making at Enchi, with a record number of metres drilled in November as we ramp-up the pace of drilling by adding a third drill rig to our on-going 58,000 metre program. We are also encouraged by the results received to date from drilling on zones that are outside of current resource areas, as we look to confirm the potential to grow the resources at Enchi by defining further deposit areas across the district scale property."

Greg Smith, Vice President of Exploration of Newcore stated, "Drilling at Kwakyekrom has shown that this zone has a significant extent of oxidation, averaging more than 50 metres

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vertically below surface. All holes intersected multiple gold mineralized structures which are interpreted to be a series of sub-parallel, structurally controlled zones with results including 2.35 g/t Au over 11.0 m at a depth of only 80 m vertically from surface. The zone is open along strike and at depth with additional drilling planned. At Kojina Hill drilling intersected widespread gold mineralization in both oxidized and unoxidized zones, with this zone encountering the deepest oxidation level of any of the drilled areas at Enchi".

This news release highlights 19 holes targeting the Kwakyekrom, Kojina Hill and Nkwanta gold zones. The nine holes (1,080 m) drilled at Kwakyekrom extended the zone along strike and down dip intersecting both wide gold mineralized zones and multiple sub-parallel structures. The nine holes (1,918 m) completed at Kojina Hill encountered widespread gold mineralization within this structurally complex zone, with the 2020 drill holes largely targeting extensions within the unoxidized material below the deep oxide zone. One drill hole (100 m) was completed at Nkwanta, a 1.5 km by 2.0 km anomaly, with the hole intersecting a sequence of variably altered intermediate volcanics but no anomalous gold values. Additional surface work will be completed at Nkwanta prior to completion of additional drilling in early 2021.

Phase 2 (50,000 m) of the expanded drill program at Enchi is underway. A total of 9,772 metres in 63 holes has been completed as part of Phase 1 (originally targeted at 8,000 m), with a further 4,454 metres in 27 holes completed to date as part of Phase 2 (50,000 m). For the total planned 58,000 metre drill program, assay results have now been received and released for 63 holes representing 9,772 metres (19 holes totalling 3,098 metres reported in this news release in addition to previously released results – 8 holes on November 26, 2020, 10 holes on November 10, 2020, 13 holes on October 21, 2020 and 13 holes on September 28, 2020).

Select assay results from the 19 holes of the drill program reported in this release are below:

Table 1 - Enchi Gold Project Drill Highlights

Hole ID	Zone/Deposit	From (m)	To (m)	Length (m)	Au (g/t)
KKRC017A	Kwakyekrom	89.0	120.0	31.0	0.46
including		107.0	120.0	13.0	0.72
KKRC018	Kwakyekrom	99.0	110.0	11.0	2.35
KKRC021	Kwakyekrom	52.0	69.0	17.0	0.57
KKRC022	Kwakyekrom	41.0	67.0	26.0	0.51
KKRC023	Kwakyekrom	34.0	40.0	6.0	4.71
KKRC025	Kwakyekrom	0.0	18.0	18.0	0.45
KJRC012	Kojina Hill	218.0	222.0	4.0	1.34
KJRC013	Kojina Hill	83.0	113.0	30.0	0.39
including		83.0	91.0	8.0	0.51
KJRC017	Kojina Hill	125.0	145.0	20.0	1.09
including		125.0	129.0	4.0	2.52

Notes:

1. See detailed table for complete results

2. Intervals reported are core lengths with true width estimated to be 75 - 85%

3. Length-weighted averages from uncut assays

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A plan map showing the drill hole locations can be viewed at: https://newcoregold.com/site/assets/files/5631/2020_12-ncau-nr-enchi-plan-map-l.pdf

A cross section showing drill results and highlights for hole KKRC018 can be viewed at: https://newcoregold.com/site/assets/files/5631/2020_12-ncau-crosssection-kwakyekrom-kkrc018-l.pdf

A complete list of the 2020 drill results to date, including hole details, can be viewed at: https://newcoregold.com/site/assets/files/5631/2020_12-ncau-nr-enchi-2020-drill-results-table-l.pdf

Enchi hosts a pit constrained NI 43-101 Inferred Mineral Resource of 52.9 million tonnes grading 0.72 g/t Au containing 1.22 million ounces gold (see Newcore news release dated September 14, 2020). The Company filed a NI 43-101 compliant technical report in support of the updated mineral resource estimate on October 28, 2020.

Management Change

Effective December 15, 2020, Danny Lee, CPA, CA. will be appointed Chief Financial Officer of Newcore replacing Kristian Dagsaan who has served as CFO of Newcore since July 2011.

Luke Alexander, President & CEO of Newcore stated, "On behalf of the Board of Directors and the team at Newcore, we want to thank Kristian for his contribution to the Company and are glad he will be staying on as a consultant to help with the transition. We would also like to welcome Danny to the Newcore team and look forward to his support as Newcore accelerates drilling and development at Enchi."

Mr. Lee is a Chartered Professional Accountant (CPA, CA) with more than 20 years of experience in the mining sector. His experience includes financial reporting for both Canadian and U.S. listed companies with international operations, corporate finance, strategic planning, tax planning, corporate governance, and equity financings. Mr. Lee has a Bachelor of Commerce degree from the University of British Columbia and articled with Deloitte.

Newcore has granted 100,000 stock options at a price of $0.61 per share for a period of five years to Mr. Lee. These options are subject to regulatory approval and are granted under the Company’s long-term incentive plan and include vesting provisions.

Updated Preliminary Economic Assessment

Newcore has engaged BBA Inc. independent engineering consultants to prepare an updated NI 43-101 Preliminary Economic Assessment Technical Report for the Enchi Gold Project. The PEA will incorporate the updated Inferred Mineral Resource estimate completed in 2020. Additionally, the resource models which will form the basis for the PEA, will be updated to include results received to date from the 2020 on-going, step-out Reverse Circulation ("RC") drilling program for the Boin, Sewum, and Nyam Gold Deposits.

2020 Enchi Drilling Program

As highlighted in Newcore’s news release on November 5, 2020, a 58,000 metre discovery and resource expansion drilling program is underway at Enchi. The program includes both RC and diamond drilling and will include the first deep drilling planned on the Project. This drill

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program is focused on testing extensions of the existing resource areas while also testing a number of exploration targets outside of the Inferred Mineral Resource. Drilling is focused on step out extensions and exploration drilling at the Boin, Sewum, and Nyam Deposits. Additional drilling is planned at previously drilled zones that are outside of the resource area (Kojina Hill, Kwakyekrom and Eradi), along with maiden drilling to test a series of kilometrescale gold-in-soil anomalous zones with no prior drilling (Nkwanta, Sewum South and other anomalies). All zones represent high priority targets based on geological, geochemical and geophysical surface work and previous trenching and drilling.

Kwakyekrom Gold Zone

The Kwakyekrom Gold Zone has seen limited past drilling and does not currently have a defined mineral resource estimate. Kwakyekrom is located 15 kilometres south of the town of Enchi, with nearby roads and power and further access provided by a series of drill roads. The Kwakyekrom structure is interpreted to be an extension of the Nyam structure and is located five kilometres south of Nyam. The zone is outlined on surface by a four-kilometre-long and one-to-two-kilometre-wide gold in soil anomaly. An airborne geophysical anomaly coincident with the Kwakyekrom Gold Zone is a sharp break in the conductivity trend.

Kojina Hill Gold Zone

The Kojina Hill Gold Zone is one of the previously drilled target areas that does not currently have a defined mineral resource estimate. Kojina Hill 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. Kojina Hill is related to a structure sub-parallel to the Nyam Shear Zone and the zone is located 1.5 kilometres west of the Nyam Gold Deposit.

Nkwanta Gold Zone

The Nkwanta Gold Zone is a 2.5 km by 1.5 km gold in soil anomaly which has no previous drilling. The completed drill hole provided geological information in this area of limited outcrop. Additional field work including trenching will be completed and further drilling is planned for early 2021.

Drill Hole Locations

Table 2 - Enchi Gold Project Drill Hole Location Details

Hole ID	UTM East	UTM North	Elevation	Azimuth °	Dip °	Length (m)
NKRC001	525094	633089	101	300	-55	100
KKRC017A	528698	634833	127	298	-60	150
KKRC018	528658	634784	129	298	-60	120
KKRC019	528611	634738	128	298	-60	120
KKRC020	528598	634714	133	298	-60	110
KKRC021	528592	634693	132	298	-60	114
KKRC022	528555	634617	124	298	-60	114
KKRC023	528542	634595	117	298	-60	122

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Hole ID	UTM East	UTM North	Elevation	Azimuth °	Dip °	Length (m)
KKRC024	528550	634557	104	298	-60	130
KKRC025	528502	634580	103	298	-60	100
KJRC011	528887	637281	110	300	-65	170
KJRC012	528887	637281	110	300	-75	252
KJRC013	528897	637243	123	300	-60	170
KJRC014	528897	637243	123	300	-75	288
KJRC015	528867	637240	130	300	-60	192
KJRC016	528871	637239	127	300	-75	252
KJRC017	528838	637203	149	300	-65	162
KJRC018	528860	637219	141	300	-65	150
KJRC019	528871	637239	129	270	-70	282

COVID-19 Protocols

Newcore’s first priority is the health and safety of all employees, contractors, and local communities. The Company is following all Ghana guidelines and requirements related to COVID-19. The Company has implemented COVID-19 protocols for its on-going drill program consisting of the mandatory use of personal protective equipment (including facemask for all employees), maintaining social distancing, frequent hand washing, and daily temperature checks at the start of each shift.

Qualified Person

Mr. Gregory Smith, P. Geo, Vice President of Exploration of Newcore, is a Qualified Person as defined by NI 43-101, and has reviewed and approved the technical data and information contained in this news release.

About Newcore Gold Corp.

Newcore Gold is advancing its Enchi Gold project located in Ghana, Africa’s largest gold producer[ 1] . The Project currently hosts an Inferred Mineral Resource of 1.2 million ounces of gold at 0.72 g/t[ 2] . Newcore Gold offers investors a unique combination of top-tier leadership, who are aligned with shareholders through their 32% equity ownership, and prime district scale exploration opportunities. Enchi’s 216 km[2] land package covers 40 kilometres of Ghana’s prolific Bibiani Shear Zone, a gold belt which hosts several 5 million-ounce gold deposits, including Kinross’ Chirano mine 50 kilometers to the north. Newcore’s vision is to build a responsive, creative and powerful gold enterprise that maximizes returns for shareholders.

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

Luke Alexander President, CEO & Director

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For further information, please contact:

Mal Karwowska | Vice President, Corporate Development and Investor Relations +1 604 484 4399

info@newcoregold.com www.newcoregold.com

• 1 Source: Production volumes for 2019 as sourced from the World Gold Council

• 2 Notes for Inferred Mineral Resource Estimate:

• CIM definition standards were followed for the resource estimate.

• The 2020 resource models used ordinary kriging (OK) grade estimation within a three-dimensional block model with mineralized zones defined by wireframed solids and constrained by whittle pits shell.

• A base cut-off grade of 0.3 g/t Au was used with a capping of gold grades at 18 g/t.

• A US$1,500/ounce gold price, open pit with heap leach operation was used to determine the cut-off grade of 0.3 g/t Au. Mining costs of US$2.27/mined tonne and G&A and Milling costs of US$9.84/milled tonne. The Inferred Mineral Resource Estimate is pit constrained.

• A density of 2.45 g/cm[3] was applied. Numbers may not add due to rounding.

• Mineral Resources that are not mineral reserves do not have economic viability.

• These numbers are from the technical report titled "Enchi Gold Project, Resource Update, Enchi, Ghana", with an effective date of October 21, 2020, prepared by Todd McCracken, P. Geo. and Greg Smith, P. Geo. in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects and is available under Newcore’s SEDAR profile at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains certain forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends" or " " stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur " " or be achieved ) are not statements of historical fact and may be "forward-looking statements". Forwardlooking statements are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking statements.

Safe Harbor Statement under the United States Private Securities Litigation Reform Act of 1995: Except for the statements of historical fact contained herein, the information presented constitutes "forwardlooking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements including but not limited to those with respect to the price of gold, potential mineralization, reserve and resource determination, exploration results, and future plans and objectives of the Company involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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Legend
RC Drill Hole
Assays Announced
December 15, 2020
Previous Drill Holes
5 kilometres
2020 Drill Program | Enchi Gold Project
Drill Areas, Ghana (As of Dec 15, 2020)
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Legend
RC Drill Hole
Assays Announced
December 15, 2020
Historic Holes
100 metres
2020 Drill Program | Enchi Gold Project
Kwakyekrom, Ghana (As of Dec 15, 2020)
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ADRC012
KKRC019
ADRC010
ADRC009
KKRC018
0.36 g/t Au over 3 m
0.35 g/t Au over 14 m 120 Elev
0.61 g/t Au over 5 m surface
30
100 Elev
0.77 g/t Au over 11 m
0.29 g/t Au over 4 m
46
60
0.50 g/t Au over 4 m 80 Elev
0.36 g/t Au over 20 m
Planned Hole
0.64 g/t Au over 6 m
60 Elev
Oxide Zone
0.38 g/t Au over 4 m 0.80 g/t Au over 6 m 40 Elev
120
2.35 g/t Au over 11 m 20 Elev
120
0 20 40 m
LEGEND 2020 Drill Program | Enchi Gold Project
Mineralized Zone OPEN TO DEPTH Kwakyekrom - Cross Sec�on (A - A’)
Drillhole trace KKRC018
Viewing Northeast, December 2020
----- End of picture text -----

Newcore Gold Ltd. | Enchi Gold Project 2020 Drill Results

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Hole ID Zone/Deposit From (m) To (m) Length (m) Au (g/t)	UTM East UTM North Elevation Azimuth ° Dip ° Hole Length (m)
KBRC138 Boin 92.0 96.0 4.0 1.05	518408 632972 147 114 -60 97
KBRC138A Boin 133.0 135.0 2.0 0.57 and 146.0 148.0 2.0 0.65	518405 632976 147 114 -60 216
KBRC139 Boin 1.0 17.0 16.0 0.69	518700 633234 130 120 -60 80
KBRC140 Boin 4.0 7.0 3.0 0.31 and 13.0 14.0 1.0 0.44	519121 633708 155 120 -60 80
KBRC141 Boin 10.0 21.0 11.0 0.34 and 48.0 95.0 47.0 1.67 including 49.0 58.0 9.0 2.96 and incl. 75.0 85.0 10.0 3.63	519018 633704 156 114 -50 120
KBRC142 Boin 1.0 4.0 3.0 0.27 and 131.0 150.0 19.0 0.43 including 131.0 142.0 11.0 0.60	518558 633239 129 114 -50 156
KBRC142B Boin 121.0 130.0 9.0 0.30	518573 633233 137 114 -50 238
KBRC143 Boin 3.0 17.0 14.0 0.56	519395 634172 120 114 -60 108
KBRC144 Boin 146.0 148.0 2.0 0.51	519378 634178 120 120 -60 150
KBRC145 Boin 48.0 55.0 7.0 0.54	520325 635410 117 120 -60 150
KBRC146 Boin 7.0 10.0 3.0 0.24 and 30.0 62.0 32.0 0.92 including 42.0 54.0 12.0 1.78 and incl. 59.0 61.0 2.0 0.52	520456 635619 124 114 -50 100
KBRC147 Boin 50.0 59.0 9.0 0.52	520424 635582 124 114 -50 102
KBRC148 Boin 56.0 58.0 2.0 0.69 and 75.0 77.0 2.0 0.30	520391 635546 122 114 -50 108
KBRC149 Boin 38.0 41.0 3.0 0.36	520378 635496 120 114 -50 100

TSX-V: NCAU | www.newcoregold.com

Table accompanies news release dated December 15, 2020

Newcore Gold Ltd. | Enchi Gold Project 2020 Drill Results

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Hole ID Zone/Deposit From (m) To (m) Length (m) Au (g/t)	UTM East UTM North Elevation Azimuth ° Dip ° Hole Length (m)
KBRC150 Boin 59.0 94.0 35.0 0.57 including 65.0 91.0 26.0 0.70 and 130.0 135.0 5.0 0.59 and 141.0 148.0 7.0 0.42	520335 635517 125 114 -65 148
KBRC150A Boin 72.0 74.0 2.0 0.59 and 87.0 108.0 21.0 1.19 and 136.0 139.0 3.0 1.01 and 145.0 162.0 17.0 0.44	520338 635514 122 114 -65 174
KBRC151 Boin 9.0 20.0 11.0 2.30 and 62.0 65.0 3.0 0.63 and 136.0 144.0 8.0 0.55	519349 634402 131 120 -60 156
KBRC152 Boin 73.0 74.0 1.0 1.20 and 209.0 213.0 4.0 1.56 and 234.0 235.0 1.0 2.55	519292 634429 117 120 -60 258
KBRC153 Boin 7.0 11.0 4.0 0.68 and 28.0 33.0 5.0 0.42 and 42.0 60.0 18.0 1.21 and 67.0 71.0 4.0 1.40 and 110.0 114.0 4.0 0.82 and 155.0 158.0 3.0 0.33 and 191.0 194.0 3.0 0.39	519317 634201 122 120 -60 258
KBRC154 Boin 88.0 95.0 7.0 0.61 and 149.0 152.0 3.0 0.27	519086 633928 157 120 -60 178
KBRC155 Boin 85.0 89.0 4.0 0.22 and 103.0 105.0 2.0 0.89 and 118.0 134.0 16.0 0.57	518896 633582 155 120 -60 138

TSX-V: NCAU | www.newcoregold.com

Table accompanies news release dated December 15, 2020

Newcore Gold Ltd. | Enchi Gold Project 2020 Drill Results

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Hole ID Zone/Deposit From (m) To (m) Length (m) Au (g/t)	UTM East UTM North Elevation Azimuth ° Dip ° Hole Length (m)
KBRC155A Boin 95.0 97.0 2.0 0.68 and 110.0 113.0 3.0 0.64 and 127.0 135.0 8.0 0.37	518900 633578 163 120 -60 204
KBRC156A Boin 156.0 174.0 18.0 0.69 and 187.0 191.0 4.0 1.20	518480 633164 130 114 -55 270
KBRC157B Boin 150.0 162.0 12.0 0.70	518457 633065 128 114 -65 180
KBRC158 Boin 77.0 91.0 14.0 1.41	518379 632992 126 114 -60 260
KBRC159 Boin 178.0 240.0 62.0 0.73 including 187.0 206.0 19.0 1.76 and incl. 199.0 206.0 7.0 3.18	518423 633075 127 114 -65 240
SWRC068 Sewum 3.0 5.0 2.0 0.28 and 23.0 31.0 8.0 0.30 and 39.0 42.0 3.0 0.35 and 46.0 62.0 16.0 0.54 including 51.0 57.0 6.0 0.93 and 74.0 76.0 2.0 1.03	521494 629230 193 120 -70 100
SWRC069 Sewum 39.0 41.0 2.0 0.30 and 50.0 59.0 9.0 0.55 and 63.0 70.0 7.0 0.47 and 98.0 114.0 16.0 1.20	521442 629252 198 120 -70 125
SWRC070 Sewum 43.0 45.0 2.0 1.41 and 141.0 148.0 7.0 0.98	521392 629273 193 120 -70 180
SWRC071 Sewum 3.0 16.0 13.0 0.45 and 38.0 43.0 5.0 0.46 and 95.0 100.0 5.0 0.55	521347 628986 193 120 -55 100

TSX-V: NCAU | www.newcoregold.com

Table accompanies news release dated December 15, 2020

Newcore Gold Ltd. | Enchi Gold Project 2020 Drill Results

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Hole ID Zone/Deposit From (m) To (m) Length (m) Au (g/t)	UTM East UTM North Elevation Azimuth ° Dip ° Hole Length (m)
SWRC072 Sewum 3.0 22.0 19.0 0.67 and 46.0 84.0 38.0 0.42	521408 628860 199 120 -60 150
SWRC073 Sewum 0.0 28.0 28.0 1.52 including 15.0 25.0 10.0 3.58 and 36.0 42.0 6.0 1.21	520472 626241 119 130 -50 100
SWRC074 Sewum 7.0 38.0 31.0 0.84 including 8.0 17.0 9.0 1.47 and 48.0 60.0 12.0 0.71 and 92.0 94.0 2.0 0.36	520416 626193 105 130 -50 100
SWRC075 Sewum 169.0 177.0 8.0 0.56	520355 626219 102 130 -60 220
SWRC076 Sewum 1.0 12.0 11.0 0.48 and 39.0 88.0 49.0 0.91 and 104.0 120.0 16.0 3.04	521308 627853 118 120 -50 120
SWRC077 Sewum 29.0 35.0 6.0 0.49 and 54.0 56.0 2.0 0.36 and 68.0 83.0 15.0 0.76 and 89.0 92.0 3.0 0.62 and 117.0 119.0 2.0 0.40 and 126.0 131.0 5.0 0.40 and 138.0 140.0 2.0 0.28 and 151.0 153.0 2.0 0.35 and 163.0 165.0 2.0 0.40	521268 627871 112 120 -50 180

TSX-V: NCAU | www.newcoregold.com

Table accompanies news release dated December 15, 2020

Newcore Gold Ltd. | Enchi Gold Project 2020 Drill Results

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Hole ID Zone/Deposit From (m) To (m) Length (m) Au (g/t)	UTM East UTM North Elevation Azimuth ° Dip ° Hole Length (m)
NBRC016 Nyam 23.0 29.0 6.0 1.03 and 50.0 54.0 4.0 0.40 and 68.0 86.0 18.0 0.63 and 97.0 100.0 3.0 0.48 and 109.0 112.0 3.0 0.55	530221 637264 81 300 -60 130
NBRC017 Nyam 8.0 53.0 45.0 1.38 including 8.0 30.0 22.0 0.74 and incl. 47.0 53.0 6.0 6.25 and 64.0 66.0 2.0 1.88 and 83.0 93.0 10.0 0.41 and 102.0 107.0 5.0 0.54 and 135.0 137.0 2.0 0.34	530241 637278 69 300 -60 150
NBRC018 Nyam 10.0 12.0 2.0 0.25 and 36.0 42.0 6.0 0.32	530180 637314 76 300 -60 84
NBRC019 Nyam 80.0 82.0 2.0 0.35 and 91.0 108.0 17.0 1.20	530845 638277 81 300 -60 156
NBRC020 Nyam 51.0 60.0 9.0 1.14 and 73.0 102.0 29.0 0.94 and 110.0 120.0 10.0 1.18 and 139.0 143.0 4.0 0.41	530506 637714 86 300 -60 150

TSX-V: NCAU | www.newcoregold.com

Table accompanies news release dated December 15, 2020

Newcore Gold Ltd. | Enchi Gold Project 2020 Drill Results

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Hole ID Zone/Deposit From (m) To (m) Length (m) Au (g/t)	UTM East UTM North Elevation Azimuth ° Dip ° Hole Length (m)
NBRC021 Nyam 15.0 17.0 2.0 0.33 and 32.0 34.0 2.0 0.73 and 50.0 54.0 4.0 1.56 and 63.0 84.0 21.0 1.42 and 90.0 96.0 6.0 1.26 and 102.0 105.0 3.0 0.36 and 109.0 119.0 10.0 0.52 and 126.0 129.0 3.0 0.65	530474 637679 93 300 -60 130
NBRC022 Nyam 8.0 10.0 2.0 1.96 and 70.0 90.0 20.0 1.72 and 116.0 119.0 3.0 0.36	530435 637610 102 300 -60 150
NBRC023 Nyam 49.0 51.0 2.0 0.19	530712 638187 98 300 -60 80
NKRC001 Nkwanta no significant results	525094 633089 101 300 -55 100
KKRC017A Kwakyekrom 45.0 48.0 3.0 0.52 and 69.0 70.0 1.0 1.17 and 89.0 120.0 31.0 0.46 including 107.0 120.0 13.0 0.72	528698 634833 127 298 -60 150
KKRC018 Kwakyekrom 35.0 39.0 4.0 0.29 and 86.0 92.0 6.0 0.80 and 99.0 110.0 11.0 2.35	528658 634784 129 298 -60 120

TSX-V: NCAU | www.newcoregold.com

Table accompanies news release dated December 15, 2020

Newcore Gold Ltd. | Enchi Gold Project

2020 Drill Results

==> picture [173 x 33] intentionally omitted <==

Hole ID Zone/Deposit From (m) To (m) Length (m) Au (g/t)	UTM East UTM North Elevation Azimuth ° Dip ° Hole Length (m)
KKRC019 Kwakyekrom 4.0 7.0 3.0 0.36 and 58.0 78.0 20.0 0.36 including 59.0 63.0 4.0 0.50 and incl. 70.0 76.0 6.0 0.64 and 88.0 92.0 4.0 0.38 and 102.0 104.0 2.0 0.50	528611 634738 128 298 -60 120
KKRC020 Kwakyekrom 26.0 28.0 2.0 0.79 and 44.0 47.0 3.0 0.43 and 60.0 75.0 15.0 0.48 and 79.0 83.0 4.0 1.04	528598 634714 133 298 -60 110
KKRC021 Kwakyekrom 52.0 69.0 17.0 0.57 and 97.0 104.0 7.0 0.94	528592 634693 132 298 -60 114
KKRC022 Kwakyekrom 41.0 67.0 26.0 0.51 including 59.0 66.0 5.0 1.59 and 101.0 104.0 3.0 0.57	528555 634617 124 298 -60 114
KKRC023 Kwakyekrom 34.0 40.0 6.0 4.71 and 60.0 66.0 6.0 0.34	528542 634595 117 298 -60 122
KKRC024 Kwakyekrom 35.0 38.0 3.0 0.77 and 59.0 74.0 15.0 0.44 and 104.0 113.0 9.0 0.23	528550 634557 104 298 -60 130
KKRC025 Kwakyekrom 0.0 18.0 18.0 0.45 including 13.0 17.0 4.0 1.00 and 23.0 29.0 6.0 0.57 and 69.0 77.0 8.0 0.21 and 89.0 100.0 11.0 0.63	528502 634580 103 298 -60 100

TSX-V: NCAU | www.newcoregold.com

Table accompanies news release dated December 15, 2020

Newcore Gold Ltd. | Enchi Gold Project

2020 Drill Results

==> picture [173 x 33] intentionally omitted <==

Hole ID Zone/Deposit From (m) To (m) Length (m) Au (g/t)	UTM East UTM North Elevation Azimuth ° Dip ° Hole Length (m)
KJRC011 Kojina Hill no significant results	528887 637281 110 300 -65 170
KJRC012 Kojina Hill 218.0 222.0 4.0 1.34 and 229.0 230.0 1.0 0.83	528887 637281 110 300 -75 252
KJRC013 Kojina Hill 6.0 13.0 7.0 0.33 and 83.0 113.0 30.0 0.39 including 83.0 91.0 8.0 0.51 and incl. 94.0 99.0 5.0 0.56 and incl. 109.0 113.0 4.0 0.57	528897 637243 123 300 -60 170
KJRC014 Kojina Hill 57.0 60.0 3.0 0.37 and 209.0 212.0 3.0 0.37	528897 637243 123 300 -75 288
KJRC015 Kojina Hill 126.0 127.0 1.0 0.40 and 139.0 140.0 1.0 0.42	528867 637240 130 300 -60 192
KJRC016 Kojina Hill 174.0 175.0 1.0 0.31 and 208.0 209.0 1.0 0.30 and 244.0 246.0 2.0 0.33	528871 637239 127 300 -75 252
KJRC017 Kojina Hill 108.0 112.0 4.0 0.86 and 119.0 122.0 3.0 0.28 and 125.0 145.0 20.0 1.09 including 125.0 129.0 4.0 2.52 and 155.0 156.0 1.0 0.47	528838 637203 149 300 -65 162
KJRC018 Kojina Hill 48.0 50.0 2.0 0.30 and 98.0 102.0 4.0 0.68	528860 637219 141 300 -65 150

TSX-V: NCAU | www.newcoregold.com

Table accompanies news release dated December 15, 2020

Newcore Gold Ltd. | Enchi Gold Project

2020 Drill Results

==> picture [173 x 33] intentionally omitted <==

Hole ID Zone/Deposit From (m) To (m) Length (m) Au (g/t)	UTM East UTM North Elevation Azimuth ° Dip ° Hole Length (m)
KJRC019 Kojina Hill 81.0 89.0 8.0 0.50 and 121.0 122.0 1.0 0.60	528871 637239 129 270 -70 282

1. Intervals reported are core lengths with true width estimated to be 75 - 85%.

2. Length-weighted averages from uncut assays.

3. All drilling completed by independent contractor.

4. All drilling samples sealed on site and delivered directly to independent lab Intertek Mineral Limited located in Tarkwa, Ghana for preparation and 50g Fire Assay with AAS finish.

5. QA/QC procedures include industry standard inclusion of standards, blanks, and duplicates in all sample batches.

TSX-V: NCAU | www.newcoregold.com

Table accompanies news release dated December 15, 2020