Newcore Gold Drilling Intersects 1.37 g/t Gold over 24.0 Metres, Including 1.93 g/t Gold over 12.0 Metres, at the Enchi Gold Project, Ghana Diamond Drilling at the Sewum Gold Deposit Intersects Wide Zones of Shallow Gold
NEWS RELEASE
Suite 610 - 815 West Hastings St. www.newcoregold.com
Vancouver, British Columbia V6C 1B4 [email protected]
Newcore Gold Drilling Intersects 1.37 g/t Gold over 24.0 Metres,
Including 1.93 g/t Gold over 12.0 Metres, at the Enchi Gold Project, Ghana
Diamond Drilling at the Sewum Gold Deposit Intersects Wide Zones of Shallow Gold
Mineralization, Below the Limits of the Pits that Constrain the Mineral Resource Estimate
June 16, 2026 TSX-V: NCAU, OTCQX: NCAUF
Vancouver, BC – Newcore Gold Ltd. ("Newcore" or the "Company") (TSX-V: NCAU,
OTCQX: NCAUF) is pleased to announce additional drill results from the 80,000 -metre drill
program underway at the Company’s Enchi Gold Project ("Enchi" or the "Project") in Ghana .
Diamond Drilling ( "DD") at the Sewum Gold Deposit ( "Sewum") encountered wide zones of
gold mineralization in the shallow oxide -transition and the upper fresh mineralization, below
the limits of the pits that constrain the Mineral Resource Estimate. Hole SWDD121 intersected
1.37 grams per tonne gold ("g/t Au") over 24.0 metres ("m") from 94.0 m, including
1.93 g/t Au over 12.0 m from 103.0 m, with a second shallow mineralized zone of 0.55 g/t Au
over 16.5 m from 30.0 m . Hole SWDD115 intersected 0.74 g/t Au over 10.2 m from 54.3 m,
with a second high-grade interval of 9.24 g/t Au over 1.9 m from 251.4 m, including
17.36 g/t Au over 1.0 m from 251.4 m . This news release reports results for diamond drilling
completed at Sewum. Drilling continues to demonstrate the continuity of gold mineralization
and potential for resource growth at Enchi. Alongside drilling and exploration, development
at Enchi is ongoing with a Pre-Feasibility Study ("PFS") on track for completion by the end of
June 2026.
Highlights from Diamond Drilling at the Sewum Gold Deposit at Enchi
• Drilling intersected wide zones of gold mineralization above the mineral resource
grade and below the limits of the pits that constrain the Mineral Resource Estimate.
o Diamond drill hole SWDD121 intersected multiple gold mineralized zones including
1.37 g/t Au over 24.0 m from 94.0 m, including 1.93 g/t Au over 12.0 m from 103.0 m,
and 0.55 g/t Au over 16.5 m from 30.0 m.
o Hole SWDD115 intersected 0.74 g/t Au over 10.2 m from 54.3 m, with a second zone of
high-grade mineralization that intersected 9.24 g/t Au over 1.9 m from 251.4 m including
17.36 g/t Au over 1.0 m from 251.4 m.
• Drill results not included in most recent Mineral Resource Estimate, with drilling
continuing to prove out the potential for future resource growth at Enchi.
o Sewum is the largest deposit currently defined at Enchi and remains open along strike
and at depth.
o This drilling reached a maximum vertical depth of 200 metres, with the average vertical
depth of all holes drilled to date at Sewum only down to 100 metres.
Greg Smith , VP Exploration of Newcore stated, "Results from our latest drilling at Sewum
continue to demonstrate the continuity and scale of gold mineralization beyond the pit -
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constrained limits of the current Mineral Resource Estimate, reinforcing the strong potential for
future resource growth at Enchi . These holes successfully intersected gold mineralization
above the mineral resource grade and below areas that have historically seen limited drilling,
extending mineralization to depth. As the largest deposit currently defined at Enchi, Sewum
remains open along strike and at depth, with this drilling continuing to support our
interpretation that the mineralized system continues beyond the boundaries of the existing
resource model. With the strong results from drilling completed in 2026 not yet included in
the mineral resource estimate at Enchi, w e are excited to continue to focus our on-going drill
program on expanding the mineralized footprint and proving out the potential for resource
growth beyond the limits of the current resource, including at depth."
This release reports results for 6 DD holes totalling 2,069 m ( SWDD115, SWDD117 to
SWDD121) targeting the Sewum Gold Deposit, with all holes intersecting gold mineralization.
A total of 40,528 m in 272 holes has been reported to date as part of the ongoing drill program
at Enchi, with 98% of holes intersecting gold mineralization.
Select assay results from the 6 holes of the drill program reported in this release are below:
Table 1 - Enchi Gold Project Drill Highlights
Hole ID Zone/Deposit From (m) To (m) Length (m) Au (g/t)
SWDD121 Sewum 30.0 46.5 16.5 0.55
and 94.0 118.0 24.0 1.37
including 103.0 115.0 12.0 1.93
SWDD115 Sewum 54.3 64.5 10.2 0.74
and 251.4 253.3 1.9 9.24
including 251.4 252.4 1.0 17.36
SWDD117 Sewum 61.1 64.4 3.3 3.36
Notes:
1. See detailed table for complete results;
2. Intervals reported are hole lengths with true width estimated to be 75 - 85%; and
3. Length-weighted averages from uncut assays.
A plan map showing the drill hole locations can be viewed at:
https://newcoregold.com/site/assets/files/5976/2026_06_16-ncau-nr-enchi-plan-map-sewum.pdf
A cross section showing drill results and highlights for hole SWDD121 and SWDD120 can be
viewed at:
https://newcoregold.com/site/assets/files/5976/2026_06-ncau-crosssection-swdd121.pdf
A complete list of the drill results in this release, including hole details, can be viewed at:
https://newcoregold.com/site/assets/files/5976/2026_06_16-ncau-enchi-2024-2026-drill-results.pdf
Diamond Drilling at the Sewum Gold Deposit
SWDD115 and SWDD117 to SWDD 121 (6 DD holes totalling 2,069 m) were completed at
Sewum, targeting mineralization within the shallow oxide -transition and the upper fresh
mineral horizon at the Ridge Zone, with a goal of expanding the mineralized footprint of the
deposit. This drilling reached a maximum vertical depth of 200 metres, representing some of
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the deepest intercepts drilled to date at Sewum, with prior drilling completed at Sewum
focused on shallow mineralization within the first 100 vertical metres. The holes reported in this
news release include three holes testing three sections along a 500 metre strike length on the
upper structures and another three holes testing two additional sections along a 100 metre
strike length in the lower structures of the zone.
Two diamond drill holes totalling 665 m (SWDD120 and SWDD121) were drilled on the same
section and used to define the dip of the main sub -parallel gold mineralized structures at
depth. Hole SWDD121 intersected 1.37 g/t Au over 24.0 m from 94.0 m, including a higher -
grade interval of 1.93 g/t Au over 12.0 m from 103.0 m. This hole also intersected a second
mineralized zone with 0.55 g/t Au over 16.5 m from 30.0 m. SWDD120, collared 50 metres east
on the same section, intersected a series of stacked gold mineralized zones including
0.58 g/t Au over 7.0 m from 149.0 m and 0.57 g/t Au over 6.0 m from 203.0 m.
Diamond drill hole SWDD115 totalling 371 m, collared 700 metres north of SWDD121, tested
the northern-central portion of the Ridge Zone and encountered high-grade gold with in the
fresh mineralization with 9.24 g/t Au over 1.9 m from 251.4 m, including 17.36 g/t Au over
1.0 m from 251.4 m. SWDD115 also intersected gold mineralization in the shallower oxide -
transition mineralization with 0.74 g/t Au over 10.2 m from 54.3 m.
Diamond drill hole SWDD117 totalling 380 m, collared 200 metres north of SWDD121, tested
both the upper and lower structures and intersected multiple stacked gold mineralized zones
including 3.36 g/t Au over 3.3 m from 61.1 m, 0.30 g/t Au over 44.0 m from 270.0 m, including
0.71 g/t Au over 4.0 m from 273.0 m and including 1.09 g/t Au over 2.0 m from 286.0 m.
Diamond drill hole SWDD119 totalling 380.5 m, collared 100 metres south of SWDD117, also
intersected several sub-parallel gold mineralized structures including 0.48 g/t Au over 12.0 m
from 270.0 m and 0.54 g/t Au over 7.0 m from 324.0 m.
Diamond drilling completed at Sewum continues to confirm continuity along strike and down
dip for the principal structures which comprise the Ridge Zone of the Sewum Gold Deposit.
Enchi Work Program
The 80,000 metre drill program underway at Enchi commenced August 2024 is focused on
resource conversion, resource growth and discovery. Reverse Circulation ( "RC") drilling is
targeting near -surface mineralization ( oxide, transition, and shallow fresh mineralization)
focused on resource conversion and continuing to define the potential for resource growth
along strike at existing deposits, with diamond drilling directed at the high-grade potential at
depth. The completed first phase of the drill program was infill drilling for resource conversion,
with only the first 28,000 metres of the drill program incorporated into an updated Mineral
Resource Estimate announced on March 18, 2026 that more than doubled the Indicated
Mineral Resource. All deposit areas and pre-resource targets at Enchi remain open along strike
and at depth, providing for future resource growth across the district-scale property.
In addition to drilling, a Pre -Feasibility Study ("PFS") is targeted for completion by the end of
June 2026 (see news release dated February 5, 2026), alongside on-going development work
in support of project advancement at Enchi which includes metallurgical testwork,
hydrogeological testing, geotechnical work, and environmental work.
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Sewum Gold Deposit
Sewum is one of the five deposits which comprise the Mineral Resource Estimate at Enchi
(Sewum has an Indicated Mineral Resource of 41.2 million tonnes grading 0. 43 g/t Au
containing 573,000 ounces and an Inferred Mineral Resource of 24.2 million tonnes grading
0.39 g/t Au containing 308,000 ounces). Sewum is located 15 kilometres south of the town of
Enchi, with nearby roads and power and further access provided by a series of drill roads.
Sewum is outlined on surface by a greater than six -kilometre-long and one-to-two-kilometre-
wide gold-in-soil anomaly. An airborne geophysical anomaly coincident with the Sewum Gold
Deposit defines a series of subparallel and intersecting structures. To date, approximately 45%
of the gold-in-soil anomaly at Sewum is untested by drilling, with the average vertical depth of
all holes drilled to date at Sewum only down to 100 metres.
Drill Hole Locations
Table 2 - Enchi Gold Project Drill Hole Location Details
Hole ID UTM East UTM North Elevation Azimuth ° Dip ° Length (m)
SWDD115 521488 629554 190 120 -52 371.4
SWDD117 521138 629083 177 120 -61 380.3
SWDD118A 521257 629294 146 120 -60 272.2
SWDD119 521144 628982 175 120 -60 380.5
SWDD120 521176 628905 147 120 -50 308.4
SWDD121 521144 628942 158 120 -65 356.4
Enchi Gold Project Mineral Resource Estimate
The Enchi Gold Project hosts an Indicated Mineral Resource of 83.6 million tonnes grading
0.56 g/t Au containing 1,502,000 ounces gold and an Inferred Mineral Resource of 40.1 million
tonnes grading 0.49 g/t Au containing 626,000 ounces. Mineral resource estimation practices
are in accordance with CIM Estimation of Mineral Resource and Mineral Reserve Best Practice
Guidelines (November 29, 2019) and follow CIM Definition Standards for Mineral Resources
and Mineral Reserves (May 10, 2014), t hat are incorporated by reference into National
Instrument 43-101 ("NI 43-101"). The Mineral Resource Estimate is from the technical report
titled "Technical Report Mineral Resource Estimate Update, Enchi Gold Project, Ghana" dated
May 1, 2026, with an effective date of March 18, 2026, prepared for Newcore by Ryan Wilson,
P. Geo, Matthew Halliday, P. Geo, Schadrac Ibrango, P. Geo of DRA Americas Inc. in
accordance with NI 43 -101, and is available under the Company’s profile on SEDAR+ at
www.sedarplus.ca. These individuals are independent qualified persons ("QP") as defined by
NI 43-101.
Newcore Gold Best Practice
Newcore is committed to best practice standards for all exploration, sampling and drilling
activities. Drilling was completed by independent drilling firms using industry standard RC and
Diamond Drill equipment. Analytical quality assurance and quality control procedures include
the systematic insertion of blanks, standards and duplicates into the sample strings. Samples
are placed in sealed bags and shipped directly to Intertek Labs located in Tarkwa, Ghana for
50 gram gold fire assay.
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Qualified Person
Mr. Gregory Smith, P. Geo, Vice President of Exploration at Newcore, is a Qualified Person as
defined by NI 43 -101, and has reviewed and approved the technical data and information
contained in this news release. Mr. Smith has verified the technical and scientific data disclosed
herein and has conducted appropriate verification on the underlying data including
confirmation of the drillhole data files against the original drillhole logs and assay certificates.
About Newcore Gold Ltd.
Newcore Gold is advancing its Enchi Gold Project located in Ghana, Africa’s largest gold
producer (1). Newcore Gold offers investors a unique combination of top -tier leadership, who
are aligned with shareholders through their 1 2% equity ownership, and prime district scale
exploration opportunities. Enchi’s 248 km 2 land package covers 40 kilometres of Ghana’s
prolific Bibiani Shear Zone, a gold belt which hosts several multi-million-ounce gold deposits,
including the Chirano mine 50 kilomet res to the north. Newcore’s vision is to build a
responsive, creative and powerful gold enterprise that maximizes returns for shareholders.
(1) Source: Production volumes for 2025 as sourced from the World Gold Council.
On Behalf of the Board of Directors of Newcore Gold Ltd.
Luke Alexander
President, CEO & Director
For further information, please contact:
Mal Karwowska | Vice President, Corporate Development and Investor Relations
+1 604 484 4399
www.newcoregold.com
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.
Cautionary Note Regarding Forward-Looking Statements
This news release includes statements that contain "forward -looking information" within the meaning of
the applicable Canadian securities legislation ("forward -looking statements"). All statements, other than
statements of historical fact, are forward -looking statements and are based on expectations, estimates
and projections as at the date of this news release. Any statement that involves discussion with respect to
predictions, expectations, beliefs, plans, projections, objectives, assumptions, future even ts or
performance (often, but not always using phrases such as "plans", "expects", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including
negative variations) of such words and phras es, or state that certain actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact
and may be forward-looking statements. In this news release, forward -looking statements relate, among
other things, to: statements about the estimation of mineral resources; realization of mineral resources
estimates; timing, content and completion of a pre -feasibility study; proposed development plans for
the Company; results of metallurgical testwork; results of our ongoing drill campaign; results of drilling,
magnitude or quality of mineral deposits; anticipated advancement of mineral properties or programs;
and future exploration prospects and growth of mineral properties.
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These forward-looking statements, and any assumptions upon which they are based, are made in good
faith and reflect our current judgment regarding the direction of our business. The assumptions
underlying the forward -looking statements are based on informa tion currently available to Newcore.
Although the forward -looking statements contained in this news release are based upon what
management of Newcore believes, or believed at the time, to be reasonable assumptions, Newcore
cannot assure its shareholders that actual results will be consistent with such forward-looking statements,
as there may be other factors that cause results not to be as anticipated, estimated or intended. Forward-
looking information also involves known and unknown risks, uncertainties an d other factors which may
cause the actual results, performance or achievements of the Company to be materially different from
any future results, performance or achievements expressed or implied by the forward -looking
information. Such factors include, am ong others: risks related to the speculative nature of Newcore’s
business; Newcore’s formative stage of development; Newcore’s financial position; possible variations in
mineralization, grade or recovery rates; actual results of current exploration activit ies; fluctuations in
general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward
prices of gold and other commodities; fluctuations in currency markets (such as the Canadian dollar to
United States dollar exchange rate); change in national and local government, legislation, taxation,
controls, regulations and political or economic developments; risks and hazards associated with the
business of mineral exploration, development and mining (including environmental haz ards, unusual or
unexpected geological formations); the presence of laws and regulations that may impose restrictions on
mining; employee relations; relationships with and claims by local communities; the speculative nature
of mineral exploration and development (including the risks of obtaining necessary licenses, permits and
approvals from government authorities); and title to properties.
Forward-looking statements contained herein are made as of the date of this news release and Newcore
disclaims any obligation to update any forward -looking statements, whether as a result of new
information, future events or results, except as may be requi red by applicable securities laws. There can
be no assurance that forward -looking information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking information.
Map Area
1 km
2024 - 2026 Drill Program
Enchi Gold Project
Sewum, Ghana (As of June 2026)
Previous Drill Holes
Legend
Drill Hole
Prior 2024 - 2026
Assays Announced
Drill Hole
Assays Announced
June 16, 2026
RIDGE
ZONE
CHECKERBOARD
HILL
SEWUM
EXTENSION
EXTENSION
PARALLEL
STRUCTURE
Pit Shell
Outline
SWDD115
SWDD118A
SWDD117
SWDD120
SWDD121
SWDD119
200 Elev
0 Elev
100 Elev
-100 Elev
120
SWRC054
72
SWRC177
356.4
SWDD121
84
SWRC242
84
SWRC243
87
SWRC244
108
SWRC245
108
SWRC246
60
SWRC173
308.4
SWDD120
1.37 g/t Au over 24.0 m
incl. 1.93 g/t Au over 12.0 m
0.21 g/t Au over 9.0 m
0.47 g/t Au over 1.0 m
0.62 g/t Au over 12.0 m
0.23 g/t Au over 2 m
0.18 g/t Au over 1 m
1.58 g/t Au over 2.2 m
0.55 g/t Au over 16.5 m
0.38 g/t Au over 5.0 m
0.55 g/t Au over 10.3 m
0.47 g/t Au over 1.0 m
0.42 g/t Au over 2.0 m
0.16 g/t Au over 2.0 m
0.23 g/t Au over 1.0 m
0.28 g/t Au over 2.0 m
0.55 g/t Au over 74 m
0.49 g/t Au over 8 m
0.20 g/t Au over 24 m
0.20 g/t Au over 2 m
0.27 g/t Au over 4.0 m
0.20 g/t Au over 15.0 m
0.30 g/t Au over 4.0 m
0.25 g/t Au over 1.0 m
0.57 g/t Au over 6.0 m
0.23 g/t Au over 1.0 m
0.21 g/t Au over 3.0 m
0.37 g/t Au over 3.0 m
0.58 g/t Au over 7.0 m
0.33 g/t Au over 4.0 m
0.10 g/t Au over 1.0 m
0.11 g/t Au over 3.0 m
0.13 g/t Au over 1.5 m
0.14 g/t Au over 1.5 m 0.22 g/t Au over 1 m
0.36 g/t Au over 1 m
0.36 g/t Au over 30 m
0.40 g/t Au over 7 m 0.44 g/t Au over 1 m
0.18 g/t Au over 1 m
0.29 g/t Au over 2 m 0.57 g/t Au over 1 m
0.71 g/t Au over 2 m
0.23 g/t Au over 16 m
0.48 g/t Au over 17 m
0.41 g/t Au over 5 m
2024 - 2026 Drill Program | Enchi Gold Project
Sewum Deposit - Cross Section (A - A’)
SWDD121
Viewing Northeast, June 2026
Drillhole trace
Mineralized Zone
LEGEND
2026 Resource Pit Shell
(US$3,200/oz Au)
100 m0 50 m
surface
Oxide Zone
OPEN
TO DEPTH