LECRF - Leocor Gold Plans Drill Programs at the Dorset Gold Project and Copper Creek Project Baie Verte District Newfoundland and Announces Private Placement

(TheNewswire)

Vancouver, BritishColumbia – TheNewswire - April 4, 2024 - Leocor Gold Inc. (the“ Company ” or “ Leocor ”) (CSE: LECR, OTCQB: LECRF) is pleased to announce plans for summer exploration programs at its BaieVerte project, which comprises both the Dorset Gold Project, and theCopper Creek project, among others, located in north centralNewfoundland, Canada.

The Company is targeting its Baie Verte holdings withmultiple drill programs this summer.  The scope and details (drilltype, meterage, exact locations) are currently under discussion andwill be released upon finalization in the coming weeks.

The Dorset Gold Project is already established ascontaining several known gold zones, and presents additional, highlyprospective exploration targets. The 2024 program will be designed totest priority zones within a prominent 1 x 2 km gold-in-soil anomalydelineated by Leocor in 2022.  Copper Creek is a copper target withcompelling historical results. The Company is eager to begin detailedprospecting within areas of interest and systematically testing knownzones of copper mineralization.

Dorset Gold Project

Located south of the Pine Cove Gold Mine, Dorsetfeatures multiple zones of high-grade gold mineralization. The Companycompleted a Rotary Air Blast (“RAB”) drill program in late 2022that tested six different target areas for gold and/or coppermineralization with 18 drill holes.  The program was designed tofollow up on previously announced soil and GT (GroundTruthExploration) 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.  Newtarget 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. Confirminggeometry of the mineralized zone.

* See Leocor News Release datedDecember 1, 2022.

The Dorset project is highly prospective for additionalhigh-grade gold zones and the 2024 program will be designed to testsome of the priority zones within a prominent 1 x 2 km gold-in-soilanomaly delineated by Leocor in 2022.

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Figure 1: Fall 2022 drill locations, Dorset claims, Baie VerteProject, NW Newfoundland

Figure 2: soil anomalies, Dorsetclaims, Baie Verte Project, NW Newfoundland

Copper Creek Claims

The Copper Creek portion of the Baie Verte Project hashad little copper-focused work completed over the past few years andprovides excellent exploration potential.  In 2021 the Companycompleted exploration work at Dorset and Copper Creek that includedsoil sampling, GT Probe sampling, geophysics, LiDAR andhigh-resolution drive imagery surveys*.  Highlights of the programinclude:

• Multiple targets identified along 7km northeasttrending zone of anomalous gold in soils and a 4km subparallel trendof anomalous copper (+/- gold) in soils with results up to 1601 ppbgold (“Au”) and 2862 ppm copper (“Cu”).

• Indications of two styes of mineralization on theproject including VMS style copper (+/-gold-zinc) mineralization andstructurally controlled gold mineralization with similarities to thenearby Pine Cover Mine.

Shawn Ryan, Leocor’s Technical Advisor, said at thetime, “Here we have an area that has seen a lot of previousexploration work, from gold to base metal and the detailed 2021 soilprogram outlined a brand new 6.5 Km mineralized gold trend that hasnot been previous seen.  And the soil work also outlined a nice basemetal Copper-Zinc target measuring 1200m by 400m sittingdirectly across from the old Terra Nova base metal deposit.  Havingone of these anomalies is impressive but having two isexceptional.”

* See Leocor News Release dated May19, 2022.

Historic results* at Copper Creek includes grab samplevalues of 1019 - 9414 ppm Cu and assays of up to4.4% Cu while channel sampling yielded assays of up to 0.85% Cu over2m (Dunsworth, 2004).

Channel sampling, by Anaconda, returned assays of up to0.196% Cu over/2 m (Dunsworth, 2004). However, further southwestwardextension of the T5 site, by Chan, in 2007 (via a 2x14 m trench)revealed a notable increase in sulphide content and grades; samplesfrom 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 ofseveral roadside ditch exposures of chalcopyrite mineralized,sheared/chloritized, gabbro to micro gabbro, which returned sampleassays of 1.3% & 3.22% Cu as well as several values in the rangeof 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 mineralizedchlorite and chlorite-sericite- quartz schist zones – returnedconsistently anomalous Cu results of 100-762 ppm. Three closely spacedsoil samples taken over the T5 site (prior to the 2004 trenching)returned Cu assays of 237 ppm, 522 ppm & 586 ppm Cu.

* General Report on the Copper Creek(Gold) Property, Baie Verte Peninsula, Newfoundland MINERAL LICENCES22882M, 23602M, 23603M, 23801M, 26090M & 23802M (41 CLAIMS) Prep.By: Wilson Jacobs For: Lai Lai Chan, February 28, 2020

About Leocor’s Baie VerteProject

The Baie Verte Peninsula represents one of the moreproductive and historical gold and base metal mining districts inCanada.  The former Terra Nova base metal mine – one of severalcopper mines of the region, which operated during the late 1880’s toearly 1900’s – lies 200 meters west of Leocor’s Copper Creekclaims.  Former gold mining operations in the area include theGoldenville mine (of 1903-1906), located 8 km NE of the property, andthe more recent Nugget Pond mine (1997-2000) of the eastern Baie VertePeninsula area.  Currently producing mines in the area include theRambler base metal-gold mine (1961-present), located 14 km ESE of BaieVerte, 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 MileBrook and Copper Creek projects consisting of fourteenmineral licenses, totalling 80 claims, and covering 1995 hectares(19.95 square km).

The Dorset Gold Project is a 275-ha gold explorationproject, located south of the Pine Cove Gold Mine, and featuresmultiple zones of high-grade gold mineralization. The Main Dorset Zoneincludes three historic showings, referred to asDorset 1, 2 and 3 Showings.  High-grade grab samples from Dorset 1returned 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 andWalker, 1988).

Historic select sampling at theBraz Zone returned values of 314 g/t Au, 40 g/tAu, 31.4 g/t Au, 21.2 g/t Au, 19.2 g/t Au, and14.8 g/t Au. Historic channel sampling across the vein returned 9.5g/t Au over 0.4m, 5.7 g/t Au over 0.5m and 1.2 g/t Au over0.65m. Weighted averagesof historic rock sampling encompassing vein and mineralized wall rockreturned values of 5.8 g/t Au over 1.9m, 3.1 g/t Au over 2m and 2.5g/t Au over 1.5m (MacDougall, 1990).

Copper Creek (1,025-ha) hosts several gold prospectsand copper occurrences associated with extensive alteration/shearzones developed within a thrust-faulted sequence ofquartz-Fe-carbonate-fuchsite-altered gabbros, ultramafics and maficvolcanics, of the Advocate (ophiolite) Complex, and intermediate tosilicic volcaniclastics & tuffs and micro gabbroic dykes/sills, ofthe Flatwater Pond (cover sequence) Group.

Five Mile Brook (350-ha) has been subject to minimalexploration in the past but shows potentially important geologicalcontinuity to the Company’s Dorset Gold Project, which lies directlycontiguous to the northern boundary.

*Data reported here is historic innature and has not yet been verified by a Qualified Person.  Leocorhas relied on the information supplied in the Noranda assessmentreports (quoted above) and others, and from information found in MODS(Mineral Occurrence Data System) published by the NewfoundlandDepartment of Natural Resources.

Click Image To View Full Size

Figure 3. Regional location ofLeocor’s Baie Vert District landholdings.

* Historic rock samplesand grab samples mentioned inthis release are selective by nature and are unlikely to representaverage grades of the property

* The reported drill intercept is anintersected length and is not a true width

*The Company cautions readers thatsamples are selected samples and not necessarily representative of themineralization hosted on the property.

Private Placement

The Company also announces that it intends to conduct aprivate placement of up to 30,000,000 units (each, a “ Unit ”), at a priceof $0.05 per Unit for gross proceeds of up to $1,500,000.  Each“Unit” will be comprised of one common share of the Company, andone-half-of-one common share purchase warrant exercisable at a priceof $0.10 for a period of thirty-six months.

The Company intends to use the gross proceeds toadvance the exploration and development of its gold and copperprojects in Newfoundland, and for general working capitalpurposes.

In connection with the placement, the Company may payfinders’ fees to eligible third parties who have assisted inintroducing subscribers to the Company.  All securities to be issuedin connection with the placement will be subject to afour-month-and-one-day statutory hold period in accordance withapplicable securities laws.

Qualified Person

The technical information contained in thispress release has been reviewed and approved by Mike Kilbourne, P.Geo, and Jodie Gibson, P. Geo, both independent qualified persons asdefined in National Instrument 43-101.

About Leocor Gold Inc.

Leocor Gold Inc. is a British Columbia-based resourcecompany involved in the acquisition and exploration of precious metalprojects, with a current focus in Atlantic Canada.  Leocor, throughoutright ownership and earn-in agreements, currently controls severalgold-copper projects in prime exploration ground located within theprolific Baie Verte Mining District.  Leocor’s Bae Verte portfolioincludes the Dorset, Dorset Extension, Copper Creek and Five MileBrook projects, creating a contiguous nearly 2,000-hectare explorationcorridor.  The Company also controls district scale land packages inNorth Central Newfoundland, known as Robert’s Arm, Hodge’s Hill,and Leamington, (collectively “Western Exploits”) representingover 144,000 hectares (1,440 square kilometers) of prospectiveexploration ground.

Contact Information

Leocor Gold Inc.

Alex Klenman, Chief Executive Officer

Email : aklenman@leocorgold.com

Telephone : (604) 970-4330

Neither the CanadianSecurities Exchange nor its Regulation Services Provider (as that termis defined in the policies of the Canadian Securities Exchange)accepts responsibility for the adequacy or accuracy of thisrelease .

Cautionary Statements RegardingForward-Looking Information

This press release containsforward-looking information within the meaning of Canadian securitieslaws. Such information includes, without limitation, informationregarding the terms and conditions of the Option. Although Leocorbelieves that such information is reasonable, it can give no assurancethat such expectations will prove to be correct.

Forward looking information istypically identified by words such as: “believe”, “expect”,“anticipate”, “intend”, “estimate”, “postulate” andsimilar expressions, or are those, which, by their nature, refer tofuture events. Leocor cautions investors that any forward-lookinginformation provided by Leocor is not a guarantee of future results orperformance, and that actual results may differ materially from thosein forward looking information as a result of various factors,including, but not limited to: the state of the financial markets forLeocor's securities; the state of the natural resources sector in theevent the Option, or any of them, are completed; recent marketvolatility; Leocor's ability to raise the necessary capital or to befully able to implement its business strategies; and other risks andfactors that Leocor is unaware of at this time. The reader is referredto Leocor's initial public offering prospectus for a more completediscussion of applicable risk factors and their potential effects,copies of which may be accessed through Leocor’s issuer page onSEDAR+ at www.sedarplus.ca.

The forward-looking statementscontained in this press release are made as of the date of this pressrelease. Leocor disclaims any intention or obligation to update orrevise any forward-looking statements, whether as a result of newinformation, future events or otherwise, except as required bylaw.

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