KCC.V · 2020-04-22 12:00:00

Kincora drilling underway at brownfield Trundle project, NSW Deeper core drilling commenced testing three large and mineralized porphyry targets at the Trundle project Trundle is the only brownfield project held by a listed junior in

Exploration Programs

Kincora drilling underway at brownfield Trundle project,

NSW

Deeper core drilling commenced testing three large and mineralized porphyry targets at the Trundle project

Trundle is the only brownfield project held by a listed junior in

Australia's

foremost porphyry belt, and within the same

mineralized complex as

Australia's

second largest porphyry mine

Excellent potential for new higher-grade porphyry and skarn copper-gold discoveries

VANCOUVER

April 22, 2020

/CNW/ - Kincora Copper Ltd. (the "Company", "Kincora") (TSXV:KCC) is pleased to have

commenced drilling activities at the Trundle project, located in the Macquarie Arc of the Lachlan Fold Belt ("LFB"), in central

west

New South Wales

("NSW"),

Australia

A first phase drilling program is planned for six holes and 3,800 metres, testing three known mineralized targets seeking to

discover a new cluster of porphyry deposits. Extensive porphyry and skarn-style copper-gold mineralisation and informal mining

activities are associated with several Ordovician intrusive centres across the full Trundle license, which is located within a

prolific mining and infrastructure district.

John Holliday

, Chairman of Kincora's Technical Committee, and

Peter Leaman

, Senior Vice-President of Exploration,

commented:

"Modern systematic exploration at Trundle has utilised industry leading Induced Polarisation survey's, including

HPX's proprietary Typhoon system, and magnetic modelling which has been insufficiently followed up by drilling.

Existing significant drill intersections supports vectoring to very compelling targets at three existing mineralised systems

within a brownfield environment to Northparkes,

Australia's

second largest porphyry mine where five deposits are defined.

We are very excited by the upcoming high impact and funded drilling program at Trundle."

Sam Spring

, President & CEO, noted:

"Our team has demonstrated Tier 1 exploration success in the belt, which coupled with

unique prior exploration experience at Trundle, and the quality of prior activities and results, has supported mobilising drilling

within three months of agreeing the MoU with our now project level JV partner RareX Limited (ticker "REE" on the ASX).

Significant preventative measures have been taken to proactively manage the potential impact of COVID-19 and execute a

successful drilling campaign.

These systems and policies reflect the guidance given by the State and Federal authorities,

and

include sourcing the on-site-team and supplies from within the region to both reduce the risk to, as well as financially support,

the communities we operate in.

We look forward to considerable news flow over the coming months in a market that is still significantly rewarding exploration

success in the Lachlan Fold Belt".

The Trundle project

The Trundle project is located 30km west of the China Molybdenum Company Limited (CMOC) operated Northparkes copper-

gold project, which is

Australia's

second largest porphyry mine (behind Cadia, also located in the Macquarie Arc). CMOC

acquired an 80% interest in Northparkes from Rio Tinto in

July 2013

for

US$820 million

(Sumitomo retaining a 20% minority

interest) and has since undertaken a material expansion of production and extension of mine life.

Trundle hosts the inferred westerly rift of the Northparkes Igneous Complex with extensive evidence of porphyry and skarn-style

copper-gold mineralisation across a 12.5km strike associated with Ordovician intrusive centres similar to the Northparkes and

Cadia deposits and mines.

Figure 1:

Trundle is the only brownfield porphyry project held by a listed junior in the Macquarie Arc,

Australia's

foremost porphyry region

The Raggatt volcanics at Trundle are the stratigraphic equivalent to the Goonumbla volcanics that host the deposits at

Northparkes

Aeromagnetics illustrate key regional structures and geological features with the Trundle project located on the interpreted

western rift of the Northparkes Igneous Complex within the Junee-Narromine Ordovician volcanic belt of the Macquarie arc

Recent new license application from FMG Resources Pty Ltd for the adjacent southern ground

Figure 1: Trundle is the only brownfield porphyry project held by a listed junior in the Macquarie Arc, Australia’s foremost

porphyry region (CNW Group/Kincora Copper Limited)

Sealed and unsealed roads traverse most of the license area, which hosts the town of Trundle. On the adjacent western license

sits Clean TeQ Holdings Limited's ("Clean TeQ"), Westella limestone development project associated with its flagship Sunrise

nickel-cobalt-scandium battery materials complex located 30 km to the north-west – Figure 2.

Figure 2:

A prolific mining and infrastructure district

Trundle sits between Northparkes,

Australia's

second largest porphyry mine, and CleanTeQ's large, low cost, long life Sunrise

development stage battery materials complex, and close to existing infrastructure

At Trundle, surface geological mapping, geochemistry, magnetic, gravity and Induced Polarisation ("IP") coverage, coupled with

structural and basement interpretations have been positive, indicative of multiple levels and phases of large mineralised copper

and gold systems.

Past drilling has been extensive with the completion of 2208 holes for 61,146 metres but drilling utilising the modern exploration

techniques, and deeper drilling to basement and target depth has been inadequate.

Over 92% of prior drilling has been to less than 50 metres depth with just 11 holes beyond 300 metres (0.5% of holes drilled).

Existing significant drill intersections supports vectoring to very compelling targets at three existing mineralised systems that

have not been drilled since industry leading Induced Polarisation survey's, including HPX's proprietary Typhoon system, and

magnetic modelling.

Significant intercepts not followed up include:

60m

@ o.54g/t Au from

56m

@ 0.88g/t Au, 0.35% Cu from

34m

, including:

@ 20g/t Au, 6.97% Cu and 81g/t Ag from

64m

39m

@ 0.55 g/t Au, 0.14% Cu from surface

35m

@ 0.55 g/t Au, 0.25% Cu from

12m

51m

@ 0.58 g/t Au, 0.14% Cu from

33m

58m

@ o.44 g/t Au, 0.17% Cu from

22m

, including:

@ 1.19g/t Au and 0.41% Cu from

28m

Figure 3:

Kincora is drilling three fences at Trundle to test three known mineralized porphyry targets analogous to the

five deposits at Northparkes

3 targets for phase 1 drilling: Trundle Park in the south; &, Mordialloc & Bayleys in the north

The Trundle Park target

Drilling has commenced at the Trundle Park prospect (which sits within the southern portion of the license) where prior activities

have intersected very high-grade localised zones within a large lower grade skarn magnetite skarn, similar in style to the Big

Cadia skarn that is peripheral to the Cadia porphyry copper-gold deposits.

No drilling has tested below these mineralised holes where geophysics and relogging of historic drilling has indicated proximity

to a porphyry source. Encouragingly the prior drilling provides vectors and supports subsequently defined underlying

geophysical at shallow to moderate depth targets – see Figure 4.

Figure 4:

Geological concept for the Trundle Park target: Shallow drilling has intersected higher-grade material at the

top of an interpreted preserved porphyry

The first hole of the current drilling program is a scissor hole to TPRC003 which returned

56m

@ 0.88g/t gold, 0.35% copper

and 3.7g/t silver, including

@ 20g/t gold, 6.97% copper and 81g/t silver

, and for the first time testing the potential for an

underlying porphyry source

The

Mordialloc

target

Metal grades at the Mordialloc target are comparable to the peripheral parts of the Northparkes deposits with improving grades

down hole and open. Prior drilling has returned porphyry quartz-sulfide veins overprinted by phyllic alteration adjacent to

porphyrtic monzonite stock in a region with informal small-scale mining from the early 1900's when shafts were developed on

quartz chalcopyrite vein breccias.

One deeper diamond drill hole (CTD006, drilled in 2008) on the periphery of the subsequently defined chargeability high outer

shell intersected 48 metres @ 0.15% copper, 0.12g/t gold and 41ppm molybdenum from 478 metres in a quartz monzonite

porphyry. CTD006 ended in mineralisation with the grade profile improving as the hole approached the IP shell – see Figure 5.

Similar to Alkane Resource's discovery at Boda, Kincora is diamond core drilling below previous holes with improving grades

and open, but with the benefit of the subsequent to prior drilling industry leading IP and magnetic modelling.

Figure 5:

Geological concept for the

Mordialloc target

: Improving grade at end of hole coincident with deeper

geophysical target

For further details on the Trundle project, Kincora's strategy in the Lachlan Fold Belt and the region becoming the latest global

hot spot for exploration please refer to the recent (

April 7

, 2020) interview with

Richard Schodde

, MD of MinEx Consulting,

and

John Holliday

, principal discoverer and site manager for the Tier 1 Cadia project and technical director of Kincora.

The interview is available at:

www.theassay.com/the-assay-tv/the-assay-tv-richard-schodde-john-holliday-kincora-copper/?dm_t=0,0,0,0,0

The updated accompanying Kincora corporate presentation is available at:

www.kincoracopper.com/media/downloads/presentations/corporate-presentation-4-7-2020.pdf

COVID-19

The Company has been proactively managing the potential impact of COVID-19, taking preventative measures to modify how

we conduct our business, to protect our staff, contractors and the communities we operate in.

These systems and policies reflect guidance of State and Federal authorities and the Company has sourced workers and

supplies for the drilling program from within the region to both reduce the risk to, and financial support, the communities we

operate in.

Kincora continues to closely monitor the requirements and guidance of government officials, and discussions with our

stakeholders, and will act accordingly. The Company's,

March 17, 2020

, COVID-19 statement is available at:

www.kincoracopper.com/about-us/covid-19-statement

References and further background information

Richard Schodde, MinEx Consulting, April 2020 interview with "

The Assay

RareX Limited (then Clancy Exploration) ASX Release dated 20

December 2010

RareX Limited (then Clancy Exploration) ASX Release dated 28

February 2011

RareX Limited (then Clancy Exploration) ASX Release dated 20

December 2010

RareX Limited (then Clancy Exploration) ASX Release dated 20

December 2010

RareX Limited (then Clancy Exploration) ASX Release dated 20

December 2010

RareX Limited (then Clancy Exploration) ASX Release dated 28

February 2011

Kincora closes agreement with RareX -

March 19, 2020

www.kincoracopper.com/news/press-releases/18-2020/98-kincora-closes-agreement-with-rarex

Corporate strategy letter to shareholders -

March 18, 2020

https://www.kincoracopper.com/about-us/corporate-strategy

Kincora grows a district scale landholding in the Lachlan Fold Belt -

January 30, 2020

www.kincoracopper.com/news/press-releases/18-2020/90-kincora-grows-a-district-scale-landholding-in-the-lachlan-fold-belt

Qualified Person

The scientific and technical information in this news release was prepared in accordance with the standards of the Canadian

Institute of Mining, Metallurgy and Petroleum and National Instrument 43-101 – Standards of Disclosure for Mineral Projects

("NI 43-101") and was reviewed, verified and compiled by Kincora's geological staff under the supervision of

Peter Leaman

(M.Sc. Mineral Exploration, FAusIMM), Senior Vice-President of Exploration of Kincora, and

John Holliday

(BSc Hons, BEc,

member of the Australian Institute of Geoscientists), Non-Executive Director and Technical Committee Chairman, who are the

Qualified Persons for the purpose of NI 43-101.

The review and verification process for the information disclosed herein for the Trundle project has included the receipt of all

material exploration data, results and sampling procedures of previous operators and review of such information by Kincora's

geological staff using standard verification procedures.

About Kincora Copper Limited

(KCC – TSXV)

Kincora is an active junior and systematic explorer seeking to make a major discovery in

Mongolia

, the Lachlan Fold Belt in

Australia

and other prospective complementary jurisdictions.

Our technical team is credited with multiple discoveries of Tier 1 copper assets. In 3Q'19, Kincora made the strategic decision

to opportunistically pursue entry into the Macquarie Arc, in Central West of NSW. This is

Australia's

foremost porphyry belt,

home to the giant Cadia, Northparkes mines and recent Boda discovery by Alkane Resources.

The Macquarie Arc is synergistic in line with Kincora's core focus. It offers: the same scale of target (world-class); the same

commodity mix (copper-gold or gold-copper); the same mineralized setting (porphyry &/or epithermal gold); supports a similar

systematic exploration approach/exploration methods; and, is a region where the team has had significant exploration success.

Forward-Looking Statements

Certain information regarding Kincora contained herein may constitute forward-looking statements within the meaning of

applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts,

projections, guidance or other statements that are not statements of fact. Although Kincora believes that the expectations

reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have

been correct. Kincora cautions that actual performance will be affected by a number of factors, most of which are beyond its

control, and that future events and results may vary substantially from what Kincora currently foresees. Factors that could

cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and

exploration results, continued availability of capital and financing and general economic, market or business conditions. The

forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained

herein is stated as of the current date and is subject to change after that date. Kincora does not assume the obligation to revise

or update these forward-looking statements, except as may be required under applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the

TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE

Kincora Copper Limited

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/April2020/22/c2607.html

%SEDAR: 00003952E

For further information:

Sam Spring, President and Chief Executive Officer, [email protected] or +61431 329

345

CO: Kincora Copper Limited

CNW 07:00e 22-APR-20

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