Leocor Closes $2.4M Financing

FOR IMMEDIATE RELEASE

Leocor Closes $2.4M Financing

Vancouver, British Columbia, August 7 , 2020: Leocor Gold Inc. (the “Company”) (CSE: LECR) is

pleased to announce that it has closed its non-brokered private placement (the “ Private

Placement”), which was initially announced on July 20, 2020, of 6,000,000 units of the Company

(“Units”) at a price of C$0.40 per Unit for gross proceeds of C$2,400,000.

Each Unit consists of one common share of the Company (each, a “Share”) and one transferable

common share purchase warrant (a “ Warrant”), with each Warrant entitling the holder thereof

to purchase one additional Share at a price of C$0.50 per Share for a period of 24 months from

the closing of the Private Placement.

In consideration for introducing certain subscribers to the Private Placement, the Company paid

finders’ fees (the “Finders’ Fees”) to eligible finders. The Finders’ Fees were comprised of: (i) an

aggregate of 120,050 Warrants; and (ii) a cash payment in the aggregate amount of $48,020.

All securities issued in connection with the Private Placement will be subject to a four-month and

one day hold period from their date of issue under applicable Canadian securities laws, in

addition to such other restrictions as may apply under applicable securities laws of jurisdictions

outside Canada. The Company intends to use the proceeds from the Private Placement for

general working capital purposes.

“We’re pleased investor interest was high for the placement,” said CEO, Alex Klenman. “The

precious metals market is at all time highs, and Leocor is well financed to aggressively pursue a

path of maximum return for our investors. We’re looking forward to the next few months, and

into next year, as we shape the company’s future,” continued Mr. Klenman.

About Leocor Gold Inc.

Leocor is a British Columbia -based company involved in the acquisition and exploration of precious

metal projects, with a focus in Canad a. Leocor is a reporting issuer in British Columbia, Alberta and

Ontario, and has its common shares listed for trading on the Canadian Securities Exchange under

the symbol "LECR".

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Contact Information

Leocor Gold Inc.

Alex Klenman, Chief Executive Officer

Email: info@leocor -ventures.com

Telephone: (604) 681 -0084

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is

defined in the policies of the Canadian Securit ies Exchange) accepts responsibility for the adequacy

or accuracy of this release .