Newcore Gold announced Addition of Omanpe license increases size of Enchi Gold Project to 248 km2. License covers 32.12 km2, located on the eastern edge of the Project approximately five kilometres east of the Sewum Gold Deposit. Previously completed exploration work at the Omanpe Gold Target ("Omanpe"), including geophysical and geochemical surveys, generated gold-in-soil anomalies, adding several early-stage gold targets to the district-scale potential at Enchi.

Completion of an updated environmental and social baseline study continues to derisk and advance development of the Project. Completed in late 2023 by Abbakus Geosocial Consult Limited based in Accra, Ghana, an independent group with extensive experience focused on mining projects in Ghana. The Study concluded that there are no existing issues related to water, soil, noise, or air quality for the proposed development of the Project.

The Project is looked upon favourably by the local communities and stakeholders and is in an area with a long history of gold exploration, development, and mining. Updated PEA on target for completion in first half of 2024. The PEA is being completed by independent engineering consultants Lycopodium, Micon International Limited and SEMS Exploration and will incorporate the 2023 Mineral Resource Estimate, updated cost estimates, and recent metallurgical testwork.

Omanpe adds several early-stage gold target to the Project, building on the district scale exploration opportunity at Enchi which is located along a belt that hosts several multi-million-ounce gold mines. The recently completed updated environmental and social baseline study highlights the attractive location of the Project for development, an area with a long history the long history of both gold exploration and mining, along with local stakeholder support for the Project. The geology is generally interpreted to be underlain by volcanic and volcaniclastic sedimentary rocks bordered by two large intrusives providing the alteration, and lithologies most often associated with gold mineralization within the Enchi Gold Project.

Prior exploration work completed at Omanpe consisted of 1,323 soil samples along 34 lines over an area of approximately 10 kilometres in length and varying between 0.5 and 3.5 kilometres in width. The final report for the updated Environmental and Social Baseline Study was completed by independent consultants Abbakus Geos social Consult Limited based in Accra., an independent group with extensive experience focus on mining projects in Ghana.