Newcore Gold - Capital/Financing Update 2026

NEWS RELEASE

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Newcore Gold Drilling Intersects 1.59 g/t Gold over 15.5 Metres, Including 3.22 g/t Gold over 6.4 Metres, at the Enchi Gold Project, Ghana

Diamond Drilling at the Sewum Gold Deposit Encounters Wide Zones of Shallow Gold Mineralization

April 8, 2026

TSX-V: NCAU, OTCQX: NCAUF

Vancouver, BC – Newcore Gold Ltd. ("Newcore" or the "Company") (TSX-V: NCAU, OTCQX: NCAUF) is pleased to announce additional drill results from the 60,000-metre drill program underway at the Company’s Enchi Gold Project ("Enchi" or the "Project") in Ghana. Diamond Drilling ("DD") at the Sewum Gold Deposit ("Sewum") encountered wide zones of gold mineralization in the shallow oxide-transition and the upper fresh mineralization, including hole SWDD107 which intersected 1.59 grams per tonne gold ("g/t Au") over 15.5 metres ("m") from 147.5 m, including a higher-grade interval of 3.22 g/t Au over 6.4 m from 152.9 m. Hole SWDD112 also intersected a wide zone of near surface oxidized gold mineralization of 0.69 g/t Au over 41.0 m from 21.5 m, along with a second interval of 1.00 g/t Au over 10.5 m from surface, and a third interval of 0.41 g/t Au over 25.2 m from 102.4 m. This news release reports results for diamond drilling completed at Sewum. Drilling continues to demonstrate the continuity of gold mineralization and potential for resource growth at Enchi.

Highlights from Diamond Drilling at the Sewum Gold Deposit at Enchi

Drilling intersected wide zones of gold mineralization above the mineral resource grade and outside the limits of the pit that constrains the Mineral Resource Estimate.
Diamond drill hole SWDD107 intersected 1.59 g/t Au over 15.5 m from 147.5 m, with a higher-grade interval of 3.22 g/t Au over 6.4 m from 152.9 m.
Hole SWDD108 intersected 0.48 g/t Au over 41.0 m from 141.5 m, with a second interval of 0.82 g/t Au over 18.5 m from 189.5 m including a higher-grade interval of 2.26 g/t Au over 4.5 m from 199.5 m.
Drilling targeted shallow mineralization within a vertical depth of 140 metres at the Ridge Zone at Sewum, the northernmost area of the deposit.
Hole SWDD112 intersected wide zones of near surface oxidized mineralization including 1.00 g/t Au over 10.5 m from surface and 0.69 g/t Au over 41.0 m from 21.5 m.
Hole SWDD113A intersected 0.81 g/t Au over 16.8 m from 75.9 m, with a higher-grade interval of 2.41 g/t Au over 4.4 m from 76.6 m.
Drill results not included in most recent Mineral Resource Estimate, with results highlighting potential for future resource growth at Enchi.
Sewum is the largest deposit currently identified at Enchi and remains open along strike and at depth.
This drilling reached a maximum vertical depth of only 140 metres, representing the deepest intercepts drilled to date at Sewum. Average vertical depth of all holes drilled to date at Sewum is only down to 95 metres.

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Greg Smith, VP Exploration of Newcore stated, "We are excited to continue to unlock the future resource growth potential at Enchi through the drill bit. Initial results from diamond drilling completed at Sewum have extended gold mineralization below the pit-constrained mineral resource estimate released in March of this year, while also confirming near-surface lateral continuity in the adjacent sub-parallel structures. Importantly, although this drilling represents the deepest drilling completed to date at Sewum, holes only reached a maximum vertical depth of 140 metres, with the mineralized zone open at depth. The drilling also returned grades exceeding the mineral resource estimate grade both at surface and below the pits. With drilling ongoing and focused on defining the resource growth potential at depth and along strike, we are excited to continue to advance the district scale exploration opportunity at our Enchi Gold Project in Ghana."

This release reports results for 8 DD holes totalling 1,685 m (SWDD107 to SWDD114) targeting the Sewum Gold Deposit, with all holes intersecting gold mineralization. A total of 34,805 m in 256 holes has been reported as part of the ongoing drill program at Enchi, with 98% of holes intersecting gold mineralization.

Select assay results from the 8 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)
SWDD107	Sewum	147.5	163.0	15.5	1.59
including		152.9	159.3	6.4	3.22
SWDD112	Sewum	0.0	10.5	10.5	1.00
and		21.5	62.5	41.0	0.69
and		102.4	127.6	25.2	0.41
SWDD108	Sewum	141.5	182.5	41.0	0.48
and		189.5	208.0	18.5	0.82
including		199.5	204.0	4.5	2.26
SWDD113A	Sewum	75.9	92.7	16.8	0.81
including		76.6	81.0	4.4	2.41
SWDD110	Sewum	185.8	207.0	21.2	0.60
SWDD109	Sewum	145.95	157.0	11.05	0.93
including		151.0	155.0	4.0	1.81

Notes:

See detailed table for complete results;
Intervals reported are hole lengths with true width estimated to be 75 - 85%; and
Length-weighted averages from uncut assays.

A plan map showing the drill hole locations can be viewed at: https://newcoregold.com/site/assets/files/5960/2026_04_08-ncau-nr-enchi-plan-map-sewum.pdf

A cross section showing drill results and highlights for holes SWDD107 to SWDD109 can be viewed at:

https://newcoregold.com/site/assets/files/5960/2026_04-ncau-crosssection-swdd107-109.pdf

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A complete list of the drill results in this release, including hole details, can be viewed at: https://newcoregold.com/site/assets/files/5960/2026_04_08-ncau-enchi-2024-2025-drill-results.pdf

Diamond Drilling at the Sewum Gold Deposit

SWDD107 to SWDD114 (8 DD holes totalling 1,685 m) were completed at Sewum, targeting mineralization within the shallow oxide-transition and the upper fresh mineral horizon at the Ridge Zone, with a goal of expanding the mineralized footprint of the deposit. This drilling reached a maximum vertical depth of 140 metres, representing the deepest intercepts drilled to date at Sewum, with prior drilling completed at Sewum focused on shallow mineralization within the first 100 vertical metres. The holes reported in this news release include six holes testing four sections along a 500 metre strike length on the upper structures and another two holes testing two sections along a 100 metre strike length in the lower structures of the zone.

Three diamond drill holes totalling 733 m (SWDD107 to SWDD109) were drilled on the same section and used to define the dip of the main sub-parallel gold mineralized structures at depth. Hole SWDD107 intersected 1.59 g/t Au over 15.5 m from 147.5 m, including a highergrade interval of 3.22 g/t Au over 6.4 m from 152.9 m. Hole SWDD108 intersected the main structure with 0.48 g/t Au over 41.0 m from 141.5 m, as well as a second mineralized zone that intersected 0.82 g/t Au over 18.5 m from 189.5 m including a higher-grade interval 2.26 g/t Au over 4.5 m from 199.5 m. Hole SWDD109 intersected 0.93 g/t Au over 11.05 m from 145.95 m including a higher-grade interval of 1.81 g/t Au over 4.0 m from 151.0 m.

Two diamond drill holes totalling 312 m (SWDD112 and SWDD113A) tested the western structures near the base of the Ridge Zone and intersected both near-surface oxidized mineralization as well as gold mineralization in the upper fresh mineralization. Hole SWDD112 intersected 0.69 g/t Au over 41.0 m from 21.5 m in the oxide mineralization including a highergrade interval of 1.41 g/t Au over 4.0 m from 46.5 m and 2.08 g/t Au over 3.0 m from 57.5 m. This hole also intersected oxidized mineralization from surface with 1.00 g/t Au over 10.5 m as well as a third deeper zone within the fresh mineralization with 0.41 g/t Au over 25.2 m from 102.4 m. Hole SWDD113A, collared 100 metres to the north, intersected 0.81 g/t Au over 16.8 m from 75.9 m including a higher-grade interval of 2.41 g/t Au over 4.4 m from 76.6 m.

Diamond drill hole SWDD110, totalling 225 m and collared 50 metres north of hole SWDD109, intersected 0.60 g/t Au over 21.2 m from 185.8 m. Hole SWDD111, totalling 155.6 m and collared 50 metres north of hole SWDD114, intersected gold mineralization but was lost before reaching the primary target.

Diamond drilling completed at Sewum continues to confirm continuity along strike and down dip for the principal structures which comprise the Ridge Zone of the Sewum Gold Deposit.

Enchi Work Program

The 60,000 metre drill program underway at Enchi commenced August 2024, targeting nearsurface oxide and transition mineralization along with shallow fresh mineralization. The drill program is in its second phase and is focused on discovery and resource growth, including drilling targeting the potential for resource growth along strike at existing deposits along with diamond drilling targeting the higher-grade potential at depth. The primary goal of the completed first phase of the drill program was Reverse Circulation ("RC") infill drilling for

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resource conversion to improve the confidence level of the existing Mineral Resource Estimate, with most of the first phase of the drill program allocated to the two largest deposits at Enchi, Boin and Sewum. 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.

In addition to drilling, a Pre-Feasibility Study ("PFS") is underway and targeted for completion by the end of June 2026 (see news release dated February 5, 2026), alongside on-going development work in support of project advancement at Enchi which includes metallurgical testwork, hydrogeological testing, geotechnical work, and environmental work.

Sewum Gold Deposit

Sewum is one of the five deposits which comprise the Mineral Resource Estimate at Enchi (Sewum has an Indicated Mineral Resource of 41.2 million tonnes grading 0.43 g/t Au containing 573,000 ounces and an Inferred Mineral Resource of 24.2 million tonnes grading 0.39 g/t Au containing 308,000 ounces). Sewum 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. Sewum is outlined on surface by a greater than six-kilometre-long and one-to-two-kilometrewide gold-in-soil anomaly. An airborne geophysical anomaly coincident with the Sewum Gold Deposit defines a series of subparallel and intersecting structures. To date, approximately 45% of the gold-in-soil anomaly at Sewum is untested by drilling, with the average vertical depth of all holes drilled to date at Sewum only down to 95 metres.

Drill Hole Locations

Table 2 - Enchi Gold Project Drill Hole Location Details

Hole ID	UTM East	UTM North	Elevation	Azimuth °	Dip °	Length (m)
SWDD107	521298	628974	186	120	-60	218.4
SWDD108	521279	628978	186	120	-60	236.1
SWDD109	521249	628998	184	120	-60	278.2
SWDD110	521256	629035	186	120	-60	225.0
SWDD111	521374	629343	184	120	-55	155.6
SWDD112	521021	629065	132	120	-70	185.5
SWDD113A	521073	629138	157	0	90	126.1
SWDD114	521328	629299	174	120	-58	260.5

Enchi Gold Project Mineral Resource Estimate

The Enchi Gold Project hosts 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. Mineral resource 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 Resource Estimate was prepared by Ryan Wilson, P. Geo, Matthew Halliday, P. Geo, Schadrac Ibrango, P. Geo of DRA Global Limited who are independent qualified persons ("QP") as defined by NI 43-101. The Mineral Resource Estimate

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was announced on March 18, 2026 with a full technical report, which is being prepared in accordance with NI 43-101, to be filed and available under the Company’s SEDAR+ profile at www.sedarplus.ca, and on Newcore’s website, within 45 days of that news release.

Newcore Gold Best Practice

Newcore is committed to best practice standards for all exploration, sampling and drilling activities. Drilling was completed by an independent drilling firm 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 as defined by NI 43-101, and has reviewed and approved the technical data and information contained in this news release. Mr. Smith has verified the technical and scientific data disclosed herein 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 13% equity ownership, and prime district scale exploration opportunities. Enchi’s 248 km[2] 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

[email protected] www.newcoregold.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.

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Cautionary Note Regarding Forward-Looking Statements

This news release includes statements that contain "forward-looking information" within the meaning of the applicable Canadian securities legislation ("forward-looking statements"). All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussion with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always using phrases such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state 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. In this news release, forward-looking statements relate, among other things, to: statements about the estimation of mineral resources; realization of mineral resources estimates; filing of a technical report; timing, content and completion of a pre-feasibility study; proposed development plans for the Company; results of metallurgical testwork; results of our ongoing drill campaign; results of drilling, magnitude or quality of mineral deposits; anticipated advancement of mineral properties or programs; and future exploration prospects and growth of mineral properties.

These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. The assumptions underlying the forward-looking statements are based on information currently available to Newcore. Although the forward-looking statements contained in this news release are based upon what management of Newcore believes, or believed at the time, to be reasonable assumptions, Newcore cannot assure its shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Forwardlooking information also involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others: risks related to the speculative nature of Newcore’s business; Newcore’s formative stage of development; Newcore’s financial position; possible variations in mineralization, grade or recovery rates; actual results of current exploration activities; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold and other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, unusual or unexpected geological formations); the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties.

Forward-looking statements contained herein are made as of the date of this news release and Newcore disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking information 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 information.

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RIDGE
ZONE
SWDD111
SWDD114
SWDD113A
SWDD110
SWDD112
SWDD109
SWDD108
SWDD107
CHECKERBOARD
HILL
Legend
Drill Hole
Assays Announced
April 8, 2026
Drill Hole
Prior 2024 - 2026
SEWUM
Assays Announced
EXTENSION
Previous Drill Holes
EXTENSION
PARALLEL 1 km
STRUCTURE
Pit Shell
Outline
2024 - 2026 Drill Program
Enchi Gold Project
Sewum, Ghana (As of April 2026)
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SWDD107
SWRC249
SWDD109 SWDD108 SWRC180 SWRC251 SWRC250 SWRC248 SWRC247 SWRC178
0.31 g/t Au over 8 m 0.78 g/t Au over 9 m
surface 0.42 g/t Au over 4.4 m 0.48 g/t Au over 8.3 m 0.23 g/t Au over 6 m 0.22 g/t Au over 8 m 0.61 g/t Au over 30 m 0.57 g/t Au over 3 m
incl. 1.40 g/t Au over 7 m
0.23 g/t Au over 8 m 0.66 g/t Au over 26 m 0.30 g/t Au over 1 m
0.43 g/t Au over 2.4 m 0.19 g/t Au over 6 m 0.56 g/t Au over 41 m 0.53 g/t Au over 4 m
incl. 1.46 g/t Au over 7 m 0.80 g/t Au over 24 m
incl. 1.67 g/t Au over 7 m
200 Elev 0.28 g/t Au over 2 m 0.21 g/t Au over 6 m 0.34 g/t Au over 6 m
0.28 g/t Au over 5.1 m 0.54 g/t Au over 15 m
0.73 g/t Au over 3 m
0.61 g/t Au over 8 m
0.26 g/t Au over 29 m
0.51 g/t Au over 41 m
80 0.68 g/t Au over 2 m 78
0.71 g/t Au over 1 m 0.38 g/t Au over 51 m 84 0.27 g/t Au over 1 m
1.40 g/t Au over 2.7 m
0.35 g/t Au over 1 m
0.34 g/t Au over 1.2 m 108
0.48 g/t Au over 41.0 m 102
102
0.24 g/t Au over 1.7 m incl. 1.00 g/t Au over 5.6 m
Oxide Zone 0.40 g/t Au over 6 m
0.47 g/t Au over 1.1 m
0.29 g/t Au over 1 m
100 Elev 0.93 g/t Au over 11.05 m 1.59 g/t Au over 15.5 m
incl. 1.81 g/t Au over 4.0 m
0.33 g/t Au over 2.5 m incl. 3.22 g/t Au over 6.4 m
0.28 g/t Au over 4.0 m
0.22 g/t Au over 2 m
0.59 g/t Au over 1.9 m
0.82 g/t Au over 18.5 m
0.33 g/t Au over 23.8 m incl. 2.26 g/t Au over 4.5 m
incl. 0.97 g/t Au over 2.7 m
218.4
LEGEND
236.1
Mineralized Zone
Drillhole trace
0 Elev 2026 Resource Pit Shell OPEN
(US$3,200/oz Au) TO DEPTH 2024 - 2026 Drill Program | Enchi Gold Project
Sewum Deposit - Cross Section (A - A’)
278.2
0 50 m 100 m SWDD107 - SWDD109
Viewing Northeast, April 2026
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