Leocor Mining Updates Investment In Intrepid Metals

(TheNewswire)

Vancouver, BritishColumbia – TheNewswire - April 1, 2025 - Leocor Mining Inc. (the “ Company ” or “ Leocor ”) (CSE: LECR, OTCQB: LECRF;Frankfurt: LGO0) (formerly Leocor Gold Inc.), a juniorresource company focused on the exploration and development ofprecious metals  projects in Eastern Canada, is pleased to provide an update onits capital investment in Intrepid Metals (TSX.V: INTR).

In early 2024, the Company announced the completion(see Company news release dated January 8, 2024) of a CDN $3Mstrategic investment in Intrepid for the purpose of advancingIntrepid’s copper and gold projects in Arizona, specifically theCorral Copper project (“the Project” or “Corral”).

On May 1, 2024, Intrepid announced initial drillresults at Corral, located in Cochise County, Arizona.  The resultswere impressive, with highlight near surface intercepts of1 05.20 meters of 1.17% Copper (1.42% CUEQ) and48.85 meters of 2.24% Copper (2.58% CUEQ).  On May 14, 2025, Intrepidreleased additional results for a further five drill holes with ahighlight intersection of 72.20 meters of 1.28% Copper within 198.00meters of 0.68% CUEQ.

On July 9, 2024, further impressive drill results werereleased from Corral, including 112.95 meters of 1.50% Copper, 0.53grams per ton Gold and 8.22 gpt Silver (1.66% Copper Equivalent("CuEq")) in Hole CC24_023 which included 63.40m of 2.57%Cu, 0.91 gpt Au and 14.14 gpt Ag (2.83% CuEq).

Leocor’s initial investment resulted in theacquisition of 6,600,00 units of Intrepid at $0.34 per unit and2,223.529 Special Warrants at $0.45.  Leocor currently holds8,823,529 shares of Intrepid with an approximate value of CDN $4.2M.In addition, the Company holds an additional 8,823,529 warrantsexercisable at $0.45 until January 5, 2026.  On a partially dilutedbasis Leocor’s ownership stake in Intrepid is approximately26%.

“Corral is a world class copper project, and we’revery pleased with the results to date,” said Leocor CEO, AlexKlenman.  “Leocor would also like to congratulate Intrepid onyesterday’s announcement of the closing of an oversubscribed $5million dollar financing. We look forward to the next round ofdrilling and are excited to watch the company’s continueddevelopment under the leadership and direction of their strongmanagement and technical teams,” continued Mr. Klenman.

The technical information contained in this newsrelease was reported in news releases issued by Intrepid Metals andwas prepared and approved by Daniel MacNeil,PGeo. Mr. MacNeil is a Technical Advisor toIntrepid Metals and is a qualified person for the purposes of NationalInstrument 43-101 - Standards of Disclosure for Mineral Projects.

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 corporate video , 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 proceed with the proposedtransaction on the terms set out in the Option Agreements or at all;Leocor's ability to exercise the Options; the state of the financialmarkets for Leocor's securities; the state of the natural resourcessector in the event the Option, or any of them, are completed; recentmarket volatility; circumstances related to COVID-19; Leocor's abilityto raise 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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