Leocor Ventures Inc. (the Company or Leocor) announced that it has signed a non-binding letter of intent (LOI) with Nexus Gold Corp. (Nexus) regarding its Dorset gold project (the Dorset Project) located in northern Newfoundland, Canada. Under the terms of the LOI, Leocor has the option (Option) to acquire a 100% interest in the Dorset Project, subject to a 2% net smelter returns royalty on commercial production from the Dorset Project granted in favour of United Gold Inc. and Margaret Duffit, 50% of which may be purchased by Leocor at any time for a cash payment of $1,000,000. In order to exercise the Option, Leocor must make cash payments to Nexus of CAD 1,250,000 over four years (CAD 100,000 due upon a definitive agreement being entered into) and incur work expenditures of CAD 1,500,000 over five years.