Leocor Mining Updates Drilling Progress at the Copper-Gold Baie Verte Project in Newfoundland

(TheNewswire)

Vancouver, BritishColumbia – TheNewswire - February 5, 2025 - Leocor Mining Inc. (the “ Company ” or “ Leocor ”) (CSE: LECR, OTCQB: LECRF) (formerly Leocor Gold Inc.), a junior resource company focussed on the exploration anddevelopment of gold-copper projects in Eastern Canada, is pleasedt o provide anupdate on the ongoing drill program at the Baie Verte project, a2,002-ha contiguous exploration package located on the north centralcoast of the island of Newfoundland in the province of Newfoundlandand Labrador, Canada.

Crews have begun drilling the 5th of 16 planned holesof the campaign at the Baie Verte project’s Copper Creek prospect. The first two Holes of the program, 25-CC-001 and 25-CC-002intersected intervals of what is believed to be chalcopyritemineralization.  Hole 25-CC-001 intersected intermittent intervals ofchalcopyrite in association with other sulphide minerals between 13.0mand 44.0m downhole.  Mineralized intervals range between 1.1m to 2.3min drilled length and contain interpreted chalcopyrite in visuallyestimated modal abundances of 0.1% (trace) to 4%.  The hole’s mostsignificant interval, with respect to length and estimatedchalcopyrite abundance, 31.9m to 34.2m (2.3m length) contained avisually estimated modal abundance of blebby chalcopyrite of4%.

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Image 1: Interpreted chalcopyritemineralization at 19m downhole length in hole 25-CC-001, Copper Creekproject, Baie Verte

Hole 25-CC-002 also intersected intermittent intervalsof believed chalcopyrite mineralization in association with othersulphide minerals between 9.0m and 59.2m downhole. Mineralizedintervals range in width between 0.3m and 13.4m in drilled length andcontained interpreted chalcopyrite in visually estimated modalabundances of 0.1% (trace) to 5%. Hole 25-CC-002’s most significantinterval by drilled length is 20m to 33.4m (13.4m drilled length) andcontains blebby chalcopyrite in visually estimated modal abundances of1%.

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Image 2: Interpreted chalcopyritemineralization at 15.75m downhole length in hole 25-CC-002, CopperCreek project, Baie Verte

Additional information pertaining to holes 25-CC-003and 25-CC-004 will be provided after detailed logging.

It is important to note that these are preliminaryobservations, and the true grade, thickness and formalcharacterization of the mineralization will only be determined onceassay results are received. Samples of mineralized intervals are beingprepared for geochemical analysis by SGS, an accredited laboratory,and the Company expects to receive results within four weeks.

Table 1 details drillhole collar information. Collarcoordinates are planned, or spot locations as final location surveyare not complete.

Drilling crews continue to build trails and level drillpads in Copper Creek prior to mobilizing equipment in preparation fordrilling at the Company’s Dorset prospect. Exploring goldmineralization targets defined by anomalous surface geochemistry,ground magnetometer survey interpretation and the Company’s previousresults (see Company News Releases www.leocormining.com/news ).

Drill Hole Targeting

Multiple drill holes at Copper Creek are targetingareas of known mineralization identified in 2022 Rab drilling as wellas previously mapped structures displaying hydrothermal alteration andanomalous base and precious metal geochemistry from soil and rocksampling.  At the Dorset claim, drilling targets are concentrated inareas where the Company intersected significant gold results duringits 2022 RAB drilling campaign detailed the company’s September 19, 2023 news release .The drill program is being conducted under the supervision of DavidMurray, P. Geo, president of Resourceful Geosciences. The Company willprovide an update early next week.

The Dorset project is prospective for additional goldoccurrences and the 2025 program will be designed to test some of thepriority zones within a prominent 1 x 2 km gold-in-soil anomalydelineated by Leocor in 2022.

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Figure 1: Location of the Baie VerteProject, NW Newfoundland

For more information regarding Leocor’s Baie VerteProject, including detailed figures, assessment details, and historicdata, please visit our website .

Qualified Person

David Murray, P.Geo., Principal Consultant atResourceful Geoscience Solutions Inc., an Independent Qualified Personwithin the meaning of National Instrument 43-101 Standards ofDisclosure for Minerals Projects, has reviewed and approved thetechnical information presented herein.

About Leocor Mining Inc. (Formerly Leocor Gold Inc.)

Leocor Mining 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. For more information, sign up for news alerts ,watch our corporatevideo , or view our presentation at our website .

Contact Information

Leocor Mining 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 agreement of the parties to proceedwith the proposed transaction on the terms set out in the OptionAgreements or at all; Leocor's ability to exercise the Options; thestate of the financial markets for Leocor's securities; the state ofthe natural resources sector in the event the Option, or any of them,are completed; recent marketvolatility; circumstances related to COVID-19; Leocor's ability toraise the necessary capital or to be fully able to implement itsbusiness strategies; and other risks and factors that Leocor isunaware of at this time. The reader is referred to Leocor's initialpublic offering prospectus for a more complete discussion ofapplicable risk factors and their potential effects, copies of whichmay be accessed through Leocor’s issuer page on SEDAR atwww.sedar.com.

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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