Leocor Gold Inc. announced that it has received Rotary Air Blast (RAB) drill results on the Company's Baie Verte project located near Anaconda Mining's Pine Cove Mine and Rambler Metal's Ming Mine in northwestern Newfoundland. The Phase 1 program tested at least six different target areas for gold and/or copper mineralization with 18 RAB drill holes and was designed to follow up on previously announced soil and GT Probe results; evaluating the targets for potential follow up diamond drilling as warranted. Results from 12 of the holes on the gold targets are discussed in this news release, and the results from the additional six holes on the Copper Creek Trend will released in due course.

2022 RAB Drill Program: The 2022 RAB Drilling program consisted of 1023m of drilling over 18 holes and tested 6 target areas across the Baie Verte property including the Dorset, Gunshot, Gunshot Extension, Sharpie Ridge, Braz NE, and Copper Creek target areas. The program followed up on previously announced gold and copper soil and GT Probe results over a 7km trend across the property and is designed to evaluate the targets for potential diamond drilling. Results for 12 of the 18 holes, focused on the gold target areas, are included in this release.

Additional result from the Copper Creek Trend will be released in due course. The RAB drilling was be completed by GroundTruth Exploration Inc. using their GT RAB Drill, a Heli-Portable, wireless remote-controlled, rubber tracked platform with a hydraulic tilting mast assembly and rotary drill head. The GT RAB Drill is environmentally friendly with low-ground pressure and minimal surface disturbance.

Individual drill holes can be up to 100m in depth and are paired with onsite XRF analysis and optical televiewer surveys, allowing rapid evaluation of the target areas. Individual results for the drilling ranged from below detection to 10.2g/t Au. A drill collar table and associated map for the results included in this release.

All intervals are reported as drilled and there is not currently enough information to determine true thickness at this time. It should also be noted that none of the holes reached the originally planned 100m target depth do to challenging ground conditions. Sharpie Ridge: Four holes (006 ­ 009) were drilled on the Sharpie Ridge target.

The drilling was assessing alteration and mineralization along a NE trending fault-controlled contact of fuchsite altered ultramafic and metavolcanic rocks. The holes were drilled over a 130m strike length and were centered on an outcrop of strongly silicified outcrop with assays up to 1.31 g/t Au. Hole -007 was drilled adjacent to the mineralized outcrop and intersected strongly silicified and quartz veined metavolcanic and ultramafic returning 2.32 g/t Au over 10.32m from 15.24m depth; including 10.2 g/t Au over 1.52m.

Holes (006 & 008/009) were collared 55 and 80m north and south of -007; respectively. These holes failed to interest the mineralized structure due to hole placement/dip, and only returned anomalous results. The drill results on Sharpie Ridge are significant because it is a new discovery and is at the NE end of a 1.8km gold in soil anomaly associated with the same faulted contact.

Follow up drilling will continue to assess the strike and dip extent of mineralization on the target. Dorset: Two holes (-002 & -002) were drilled on the Dorset target evaluating the historic Dorset prospect which hosts rock samples up to 57.2 g/t Au from NE striking, steeply west dipping quartz veins and breccia zones sericite-ankerite alteration and pyrite, arsenopyrite, and, locally, visible gold mineralization. The holes were drilled approximately 15m apart and were designed to evaluate the geometry and dip of the mineralization.

Both holes interested intersected mineralization at 28.96m depth and returned 1.41 g/t over 7.62m (- 001) and 1.14 g/t Au over 6.10m (-002); respectively. The holes confirmed the geometry of the mineralized zone and will guide follow up drilling efforts to assess the strike and dip extent of the zone and evaluate it for higher grade, plunging shoots, of gold mineralization. DOR/Gunshot Extension: Three holes (-003 to -005) were drilled on the DOR/Gunshot Extension target, located approximately 950m SW of Dorset.

The target consists of 1.6km, NE trending, gold in south anomaly with anomalous GT Probe results (up to 1.19 g/t Au). RAB drilling was conducted on the NE end of the trend with the three holes placed approximately 100m apart. Holes - 003 and -005 returned zones of anomalous Au mineralization (>0.1 g/t Au) with highlights of 0.57 g/t Au over 3.05m from 27.43m depth from hole -003 and 0.21 g/t Au over 18.29m from 1.52m depth in hole -005.

Gunshot: Two holes (-011 & -012) were drilled on the Gunshot target located approximately 345m west of the Dorset target. The drilling was targeting NE striking gold in soil and GT Probe anomalies (up to 1.97 g/t Au). The holes were, effectively, drilled from the same location (with 5m) at azimuths of 135 and 315; respectively.

Only hole -011 encountered anomalous mineralization with the best intercept returning 0.64 g/t Au over 1.52m from 18.29m depth. Braz NE: One hole was drilled on the Braz NE target, located 80m south of Gunshot. The drilling was targeting a 5m wide outcrop of sheared metavolcanic rocks with sheeted quartz veins and sericite alteration.

The hole returned 3.18 g/t Au over 4.57m from surface and will be a target for follow up drilling on the property. Assay Methodology and QA/QC: All RAB samples were prepared and analyzed by Bureau Veritas Laboratories. Samples were submitted to their Timmins, ON laboratory for preparation with pulps sent to their Vancouver, BC laboratory for assay.

The samples were crushed to 70% passing -2 mm and then splitting off and pulverizing a 250-gram split to 85% passing -75 microns (PRP70- 250). A 0.5 gram cut of the pulp was analyzed by AQ201, an aqua regia digestion followed by ICP-MS analysis for 36 elements. Gold was analyzed for by FA430 using a 30-gram charge for a standard fire assay with an AA finish.

If Au results were >10 g/t a second 30-gram charge was used for a standard fire assay with a gravimetric finish. The reported work will be completed using industry standard procedures, including a quality assurance/quality control (QA/QC) program consisting of the insertion of certified standard, blanks, and duplicates into the sample stream.