Newcore Gold Ltd. reported it has filed the technical report supporting the updated, independent, Mineral Resource Estimate (the " Resource") prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") for the Company's 100% owned Enchi Gold Project ("Enchi" or the "Project") in Ghana. The Resource was completed by BBA E&C Inc. ("BBA") of Sudbury, Ontario, Canada. The technical report, titled "Mineral Resource Estimate for the Enchi Gold Project" has an effective date of January 25, 2023, is reported using a gold price of USD 1,650 per ounce, and is available under the Company's profile on SEDAR at .

The results of the Resource were announced on March 7, 2023. The Resource: Sucssfufully outlined an inaugural Indicated Mineral Resource of 743,500 ounces of gold at an average grade of 0.55 grams per tonne ("g/t Au") and totaling 41,736,000 tonnes, de-risking project development; Defined an Inferred Mineral Resource of 972,000 ounces of gold at an averagegrade of 0.65 g/t Au and totaling 46,556,000 tonnes; Established a high-grade underground resource for the first time of 135,900 gold ounces at an average grade of 2.42 g/t gold, proof of concept that outlines the potential for longer-term resource growth from sulphide mineralisation; Added a fifth deposit at Enchi, with an inaugural Inferred Mineral Resource at Tokosea of 46,900 ounces gold at 0.75 g/t Au; Defined a higher-grade subset of the open pit Resource, using a 0.50 cut-off grade, consisting of an Indicated Mineral Resource of 493,700 ounces of gold at an average grades of 0.97 g/t Au and an Inferred Mineral Resource of 580,900 ounces of gold at an average Grade of 1.04 g/t Au. This does not include the underground Inferred Mineral Resource of 135,900 ounces at an average grade of2.42 g/t Au; Does not include approximately 38,000 metres of drilling which focused on greenfield discoveries and high-grade sulphide mineralisation at depth, highlighting the multi-million-ounce potential of the 216 km district scale property; and Further supports and de-risks the strong economics outlined in the 2021 Preliminary Economic Assessment.