KCC.V · 2019-09-10 12:00:00

Kincora Provides Exploration Update First phase drilling of 6 holes completed for two targets at the Bronze Fox project Results to hand for 2,876 metres of drilling from the 4,264 metres completed to date Drilling commenced at the East Tsagaan Suvarga project testing three targets

Exploration Programs

Kincora Provides Exploration Update

First phase drilling of 6 holes completed for two targets at the Bronze Fox project

Results to hand for 2,876 metres of drilling from the 4,264 metres completed to date

Drilling commenced at the East Tsagaan Suvarga project testing three targets

Total 2019/2020 program for up to 18,000 metres

VANCOUVER

Sept. 10, 2019

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

a drilling update for its 100% owned two priority copper-gold porphyry projects in the Southern Gobi,

Mongolia

. First phase

drilling for 4,264 metres at two targets has concluded at the Bronze Fox project, three holes at both targets, with activities

commenced at the East Tsagaan Suvarga ("East TS") project for up to 6,200 metres testing three target zones.

Project generation and earlier stage project pipeline exploration activities continue as Kincora is the most active foreign

listed junior seeking to make the next Tier 1 discovery in

Mongolia

HIGHLIGHTS

Results have been returned for 2,876 metres of drilling at Bronze Fox.

West West Kasulu target:

3 holes drilled with extensive lower grade mineralisation returned and localised higher-

grade zones increasing towards the west from the Tov fault.

Full assay results for drill hole F103, including:

20 metres at 0.41% Cu (0.64% CuEq) from

140m

120 metres at 0.31% Cu (0.41% CuEq) from

700m

Partial assay results for drill hole F107, including:

8 metres at 0.25% Cu (1.26% CuEq) from

528m

10 metres at 0.45% Cu (0.54% CuEq) from

630m

22 metres at 0.45% Cu (0.55% CuEq) from

654m

30 metres at 0.37% Cu (0.50% CuEq) from

702m

10 metres at 0.28% Cu (0.79% CuEq) from

828m

2 metres at 0.22% Cu (1.14% CuEq) from

880m

Western Trend target

: hole F104 returned 42 metres at 0.32% CuEq from

146m

, including 4 metres at 1% CuEq from

146m

Peter Leaman

, Senior Vice-President of Exploration, commented

, "First phase drilling and assay results for two thirds of

drilling completed has confirmed and better defined the large lower grade porphyry system at Bronze Fox with localised

higher grade zones in the western zone proximal to a key regional fault. A full review of first phase drilling will shortly

occur focusing on the potential for further higher-grade zones and potential follow up activities.

Our recently commenced maiden target testing drilling program at East TS will for the first time test the potential for

preserved higher grade porphyry mineralisation within the Tsagaan Suvarga Intrusive Complex which already hosts one

large open pit porphyry development project.

Kincora's ability to secure the East TS project in a brownfield environment which in most other parts of the world would

have experienced considerable drilling across the complex, and within 3 years commence such a drilling program

supports the project generation strategy we continue to pursue for further globally significant new discoveries".

Figure 3:

Bronze Fox phase 1 2019/20 drilling program - Significant intercepts

Hole ID

Prospect

From (m)

To (m)

Interval (m)

Au (g/t)

Cu (%)

CuEq (%)

F103

West West Kasulu

1.2

74.8

0.02

0.08

0.10

and

198

122

0.09

0.18

0.25

including

112

0.14

0.24

0.36

including

140

160

0.20

0.41

0.64

including

146

154

0.41

0.70

1.07

and

198

328

130

0.02

0.06

0.09

and

328

476

148

0.03

0.13

0.16

and

476

542

0.01

0.05

0.06

and

542

554

0.04

0.17

0.21

and

554

596

0.01

0.05

0.06

and

596

972

376

0.05

0.20

0.26

including

700

820

120

0.06

0.31

0.41

including

740

746

0.10

0.58

0.74

and

972

1075

103

0.02

0.06

0.09

F104

Western Trend

0.05

0.09

0.14

and

0.02

0.11

0.14

and

108

114

0.02

0.16

0.29

and

146

188

0.13

0.18

0.32

including

146

150

0.38

0.66

1.00

including

160

186

0.11

0.17

0.31

F105

Western Trend

176

182

0.06

0.17

0.22

including

178

180

0.17

0.49

0.64

F106

Western Trend

200

258

Assay pending

and

370

440

Assay pending

F107

West West Kasulu

400

Assay pending

and

404

562

158

0.10

0.15

0.26

including

506

536

0.35

0.17

0.50

including

528

536

1.07

0.25

1.26

and

562

574

0.04

0.11

0.16

and

574

732

158

0.06

0.30

0.38

including

630

640

0.07

0.45

0.54

including

654

676

0.09

0.45

0.55

including

688

694

0.10

0.42

0.53

including

702

732

0.07

0.37

0.50

and

732

812

0.03

0.11

0.15

and

812

848

0.27

0.22

0.47

including

828

838

0.56

0.28

0.79

including

836

838

1.44

0.36

1.65

and

848

880

0.03

0.09

0.12

and

880

890

0.23

0.15

0.37

including

880

882

0.95

0.22

1.14

and

890

907

0.02

0.08

0.10

F108

West West Kasulu

860

Assay pending

Figure 4:

Bronze Fox phase 1 2019/20 drilling program - Drill hole collar locations

Hole ID

Prospect

East

North

Elevation

Azimuth (°)

Inc (°)

Depth (m)

F103

West West Kasulu

727681

4882704

1118.8

355

-60

1075.0

F104

Western Trend

726452

4882188

1118.5

360

-60

381.7

F105

Western Trend

725887

4882308

1132.8

360

-60

600.3

F106

Western Trend

726451

4883260

1142.2

355

-70

439.8

F107

West West Kasulu

727629

4882890

1123.7

355

-70

907.0

F108

West West Kasulu

727477

4882988

1122.7

360

-60

860.0

East Tsagaan Suvarga

Kincora's wholly owned East Tsagaan Suvarga ("East TS") project is located approximately 10-15 kms to the east of the

Tsagaan Suvarga porphyry Cu/Au mine ("TS"), which is under development on the western margin of the Tsagaan Suvarga

Intrusive Complex ("TSIC") on a transverse structure. Tsagaan Suvarga has had over

US$370 million

invested to date and is

forecast to produce 316,000t Cu and 4,400t Mo pa.

Importantly, the Tsagaan Suvarga deposit is hosted in Devonian age rocks, which also host the Oyu Tolgoi cluster of

deposits that include the high-grade

Hugo Dummet

and Heruga mineralization within a preserved porphyry setting. This

latter series of orebodies underpin Oyu Tolgoi's potentially 100-year mine life being scheduled to be the world's third largest

copper mine.

Kincora's geological concept that the multiple phase 2019/2020 drilling programme for up to 6,200 metres is seeking to

confirm is that Hugo and/or Heruga style mineralization may be present beneath the younger cover in the East TS tenement

in a favourable preserved porphyry setting. This is supported by the tenement being located on the eastern margin of the

same Devonian intrusive complex as Tsagaan Suvarga, first phase drilling, and subsequent encouraging geophysics.

Within a confirmed brownfield and preserved porphyry environment, a maiden target testing drill program is seeking to test

three independent targets at East TS, which like at Oyu Tolgoi, sit within a favourable structural setting and Devonian age

intrusion below a Carboniferous cap. These targets are interpreted as a series of intrusions supporting the concept of

preserved higher-grade orebody(s) within the Tsagaan Suvarga mineralised system at moderate

depths.

Exploration target range per a Mining Associates review and block model. The potential quantity and grade is conceptual

in nature, and based on nearest neighbour and ordinary krige estimates within an interpreted 0.2% Cu grade shell based on

81 drill holes spaced approximately 200 x

200 m

within the West Kasulu prospect within the western central portion of the

Bronze Fox Intrusive Complex. The drill spacing is too broad to define grade continuity, but does illustrate geological

continuity. No assumptions regarding eventual economic extraction have been applied. The potential quantity and grade is

conceptual in nature, there has been insufficient exploration to define a mineral resource and it is uncertain if further

exploration will result in the target being delineated as a mineral resource.

For further details please refer to the

January 25

, 2018 press release "

Large copper-gold porphyry target quantified at

Bronze Fox"

https://www.kincoracopper.com/news/press-releases/11-2018/19-large-copper-gold-porphyry-target-quantified-at-bronze-fox

The Copper Equivalent (CuEq) calculation represents an estimate for the total value for each metal, multiplied by the

conversion factor, summed and expressed in equivalent copper percentage based on spot prices (Cu

$2.51

/lb, Au

$1542

/oz

and Mo

$10.9

/lb). Grades have not been adjusted for metallurgical or refining recoveries and the copper equivalent grades

are of an exploration nature only and intended for summarizing grade. The copper equivalent calculation is intended as an

indicative value only.

About Kincora Copper Limited (KCC – TSXV)

Kincora operates in the Gobi copper belt of South Mongolia. It has a dominant land position and is undertaking the first

modern systematic district scale exploration, centred on the Bronze Fox and East Tsagaan Suvarga ("ETS") porphyry

projects. This wholly owned portfolio has attracted a first-class technical team who are credited with multiple discoveries of

Tier 1 copper deposits.

Reinterpretation of existing data (incl. relogging & block model analysis of over

24,000m

of drilling at Bronze Fox), the

acquisition of additional geophysical data (Induced Polarization, gravity & magnetics at both projects) and first phase drilling

at ETS since late 2016 under the current technical team has advanced both projects significantly, resulting in new and large

geological targets.

All data has been iteratively interpreted in a technically rigorous workshop format by the Kincora in-house technical team

with appropriate involvement of specialist consultants and advisors to the technical committee. This has ensured that quality

targets have been identified and prioritised for drilling, with a detailed multiple target, multiple phase drill programs budgeted

at Bronze Fox and ETS. These programs are fully permitted and now funded.

These targets sit in the "

target testing

" to "

advanced drilling

" phases of projects development, which for copper porphyries

offers the maximum uplift in project (and shareholder) value. These targets, for their respective stages of exploration, are

considered

"as good as you get within a global setting"

. Confirmation of our geological models with positive results from the

proposed drilling have the potential to demonstrate, and in time, elevate both projects to Tier 1 or world-class status

In Jun'19, Kincora closed an oversubscribed

$6.25m

offering, cornerstoned by two large specialist natural resource

institutional investors, funding a 12-month work program supporting high priority drilling for up to 18,000 metres and ongoing

expansion plans.

June 2019

corporate presentation:

www.kincoracopper.com/investors/presentations

Exploration strategy 2019:

www.kincoracopper.com/about-us/exploration-strategy-2019

"Introduction to

Mongolia

presentation:

www.kincoracopper.com/investors/mongolia

Kincora recognises that the terms "

World Class

" or "

Tier 1"

are subjective and our targets are conceptual in nature, yet to

be supported by drilling results to support an sufficient understanding of their potential grade or scale, let alone potential

economics that are commonly associated with such terms. However, both the Bronze Fox and East TS projects have

complementary geological and geophysical characteristics, with significant target zone potential and are in known

mineralised systems in a proven prolific but underexplored copper porphyry belt. It is the view of Kincora that confirmation of

our geological models with positive results from the proposed drilling have the potential to demonstrate, and in time, elevate

both projects to Tier 1 or world-class status.

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

Senior Vice-President of Exploration of Kincora Copper, who is the Qualified Person for the purpose of NI 43-101.

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:

http://www.newswire.ca/en/releases/archive/September2019/10/c9812.html

%SEDAR: 00003952E

For further information:

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

329 345, www.kincoracopper.com

CO: Kincora Copper Limited

CNW 06:00e 10-SEP-19

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