Leocor Gold Inc. announced plans for summer exploration programs at its Baie Verte project, which comprises both the Dorset Gold Project, and the Copper Creek project, among others, located in north central Newfoundland, Canada. The Company is targeting its Baie Verte holdings with multiple drill programs this summer. The scope and details (drill type, meterage, exact locations) are currently under discussion and will be released upon finalization in the coming weeks.

The Dorset Gold Project is already established as containing several known gold zones, and presents additional, highly prospective exploration targets. The 2024 program will be designed to test priority zones within a prominent 1 x 2 km gold-in-soil anomaly delineated by Leocor in 2022. Copper Creek is a copper target with compelling historical results.

The Company is eager to begin detailed prospecting within areas of interest and systematically testing known zones of copper mineralization. Located south of the Pine Cove Gold Mine, Dorset features multiple zones of high-grade gold mineralization. The Company completed a Rotary Air Blast ("RAB") drill program in late 2022 that tested six different target areas for gold and/or copper mineralization with 18 drill holes.

The program was designed to follow up on previously announced soil and GT (GroundTruth Exploration) Probe results. Highlights from the 2022 RAB program include: Sharpie Ridge Target: 2.32 grams-per-tonne ("g/t") gold ("Au") over 10.67m; including 10.2 g/t Au over 1.52m. New target that is open along strike and at depth.

Braz NE Target: 3.18 g/t Au over 4.57m from surface. New target that is open along strike and at depth. Dorset Main Target: 1.41 g/t over 7.62m.

Confirming geometry of the mineralized zone. The Dorset project is highly prospective for additional high-grade gold zones and the 2024 program will be designed to test some of the priority zones within a prominent 1 x 2 km gold-in-soil anomaly delineated by Leocor in 2022. The Copper Creek portion of the Baie Verte Project has had little copper-focused work completed over the past few years and provides excellent exploration potential.

In 2021 the Company completed exploration work at Dorset and Copper Creek that included soil sampling, GT Probe sampling, geophysics, LiDAR and high-resolution drive imagery surveys*. Highlights of the program include: Multiple targets identified along 7km northeast trending zone of anomalous gold in soils and a 4km subparallel trend of anomalous copper (+/- gold) in soils with results up to 1601 ppb gold ("Au") and 2862 ppm copper ("Cu"). Indications of two styes of mineralization on the project including VMS style copper (+/-gold-zinc) mineralization and structurally controlled gold mineralization with similarities to the nearby Pine Cover Mine.

Historic results at Copper Creek includes grab sample values of 1019 - 9414 ppm Cu and assays of up to 4.4% Cu while channel sampling yielded assays of up to 0.85% Cu over 2m (Dunsworth, 2004). Channel sampling, by Anaconda, returned assays of up to 0.196% Cu over/2 m (Dunsworth, 2004). However, further southwestward extension of the T5 site, by Chan, in 2007 (via a 2x14 m trench) revealed a notable increase in sulphide content and grades; samples from a 1 m wide subzone of semi-massive to massive sulphide (60-70% pyrite) returned several assays in the range of 1.46% - 7.1% Cu.Prospecting performed in 2015, along the access road, trending 100-300 m NW of the T5 site, resulted in the discovery of several roadside ditch exposures of chalcopyrite mineralized, sheared/chloritized, gabbro to micro gabbro, which returned sample assays of 1.3% & 3.22% Cu as well as several values in the range of 1760 - 9770 ppm Cu.

Soil sampling, also carried out in 2015 - involving several 100-200 m-spaced sample lines emplaced across the general strike of the above mineralized chlorite and chlorite-sericite- quartz schist zones - returned consistently anomalous Cu results of 100-762 ppm. Three closely spaced soil samples taken over the T5 site (prior to the 2004 trenching) returned Cu assays of 237 ppm, 522 ppm & 586 ppm Cu. The Baie Verte Peninsula represents one of the more productive and historical gold and base metal mining districts 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 and Stogertite mines (collectively, 2011-present) located 1.6 km and 5.4 km NE of the current property. The Baie Verte project combines the Dorset, Dorset Extension, Five Mile Brook and Copper Creek projects consisting of fourteen mineral licenses, totalling 80 claims, and covering 1995 hectares (19.95 square km).

The Dorset Gold Project is a 275-ha gold exploration project, located south of the Pine Cove Gold Mine, and features multiple zones of high-grade gold mineralization. The Main Dorset Zone includes three historic showings, referred to as Dorset 1, 2 and 3 Showings. High- grade grab samples from Dorset 1 returned 407.9, 349.2, 147.1, 143.9, 138.2, 108 g/t Au, among others.

Grab samples from Dorset 2 returned 167.0, 96.12, 84.3, 49.7, 23.8,4.33 and 1.33 g/t Au (MacDougall and Walker, 1988). Historic select sampling at the Braz Zone returned values of 314 g/t Au, 40 g/t Au, 31.4 g/t Au, 21.2 g/t Au, 19.2 g/t Au, and 14.8 g/t Au. Historic channel sampling across the vein returned 9.5 g/t Au over 0.4m, 5.7 g/t Au over 0.5m and 1.2 g/t Au over 0.65m.

Weighted averages of historic rock sampling encompassing vein and mineralized wall rock returned values of 5.8 g/t Au over 1.9m, 3.1 g/t Au over 2m and 2.5 g/t Au over 1.5m (MacDougall, 1990). Copper Creek (1,025-ha) hosts several gold prospects and copper occurrences associated with extensive alteration/shear zones developed within a thrust-faulted sequence of quartz-Fe-carbonate-fuchsite-altered gabbros, ultramafics and mafic volcanics, of the Advocate (ophiolite) Complex, and intermediate to silicic volcaniclastics & tuffs and micro gabbroic dykes/sills, of the Flatwater Pond (cover sequence) Group. Five Mile Brook (350-ha) 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.