Leocor Ventures Inc. announced that, further to its news release dated March 30, 2020, it has entered into an option agreement (the "Option Agreement") dated April 22, 2020 with Nexus Gold Corp., pursuant to which Leocor has the option to acquire a 100% interest in Nexus' Dorset Gold Project located in Newfoundland and Labrador (the "Dorset Project"). The Option Agreement replaces the letter of intent between the Company and Nexus, and is subject To Approve the TSX Venture Exchange. In order to exercise the option, Leocor must: (1) make cash payments to Nexus of CAD 1,250,000 over four years, with the first CAD 100,000 due on the date the TSXV approves the Option Agreement; and (2) incur work expenditures of CAD 1,500,000 over five years. The Dorset Project is subject to a 2% net smelter returns royalty on commercial production from the Dorset Project in favour of United Gold Inc. and Margaret Duffit, 50% of which may be purchased at any time for a cash payment of $1,000,000.