Newcore Gold Drilling Intersects 184 g/t Gold over 1.0 Metre and 3.06 g/t Gold over 13.0 Metres, at the Enchi Gold Project, Ghana Drilling Continues to Highlight the Potential for Resource Growth at Enchi, Intersects High-Grade Gold Mineralization at the Pre-Resource Stage Kojina Hill Gold Target
NEWS RELEASE
Suite 1560 - 200 Burrard Street www.newcoregold.com
Vancouver, British Columbia V6C 3L6 [email protected]
Newcore Gold Drilling Intersects 184 g/t Gold over 1.0 Metre and
3.06 g/t Gold over 13.0 Metres, at the Enchi Gold Project, Ghana
Drilling Continues to Highlight the Potential for Resource Growth at Enchi,
Intersects High-Grade Gold Mineralization at the Pre-Resource Stage Kojina Hill Gold Target
September 4, 2025 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 35,000 -metre drill
program underway at the Company’s 100% owned Enchi Gold Project ("Enchi" or the "Project")
in Ghana. Shallow Reverse Circulation ("RC") drilling at the Kojina Hill Gold Target ("Kojina Hill")
intersected multiple intervals of high-grade gold mineralization, including hole KJRC033 which
intersected 184 grams per tonne gold ("g/t Au") over 1.0 metre ("m") from 126 m. Hole
KJRC034 also encountered shallow high -grade mineralization, intersecting 3.06 g/t Au over
13.0 m from surface including higher -grade intervals of 8.09 g/t Au over 3.0 m from 2 m and
4.59 g/t Au over 3.0 m from 9 m. Kojina Hill is a previously drilled target at Enchi with no defined
mineral resource. Drilling continues to prove out the continuity of gold mineralization and
potential for resource growth at Enchi.
Highlights from Drilling at the Kojina Hill Gold Target at Enchi
• Drilling intersected the highest-grade interval encountered to date at Kojina Hill.
o RC hole KJRC033 intersected 184 g/t Au over 1.0 m from 126 m (true width unknown).
o This interval was intersected within a 24 -metre contiguous zone of gold mineralization
(from 124 m to 148 m, true width unknown) which also included 0.75 g/t Au over 2.0 m
from 124 m, 1.08 g/t Au over 7.0 m from 127 m and 0.57 g/t Au over 10.0 m from 138 m.
• High-grade gold mineralization at Kojina Hill also encountered near-surface.
o KJRC034 intersected 3.06 g/t Au over 13.0 m from surface, including higher -grade
intervals of 8.09 g/t Au over 3.0 m from 2 m and 4.59 g/t Au over 3.0 m from 9 m.
• Drilling at the earlier stage Kojina Hill target continues to prove out the potential for
resource growth at Enchi through the addition of new resource areas on the property.
o Kojina Hill is an advanced target at Enchi that has no defined mineral resource.
The 35,000-metre drill program underway at Enchi is focused on resource growth and infill
drilling designed to convert Inferred Resources to Indicated. The drill program is now in its
second phase focused on discovery and resource growth, including drilling targeting earlier -
stage exploration targets along with drilling focused on defining the resource growth potential
at depth and along strike. The completed first phase of drilling focused on the drilling required
for resource conversion in advance of commissioning a Pre-Feasibility Study later this year.
Greg Smith, Vice President of Exploration of Newcore stated, "Drilling completed at the earlier
stage Kojina Hill Gold Target, an area at Enchi that does not yet have a mineral resource
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estimate, continues to highlight the potential for future resource growth both in the near -
surface oxide mineralization in tandem with the high-grade zones encountered to depth across
the district scale property. Drilling at Kojina Hill continues to showcase the potential for Enchi
to host wide as well as high-grade mineralization, with RC hole KJRC033 our third-best interval
encountered to date when calculated on gram by metre. With the second phase of the drill
program now underway, we are excited to be drill testing multiple high-grade targets that we
have identified at Enchi. Notably, with drilling to date focused on shallow mineralization, Enchi
has only been drill tested to an average vertical depth of 125 metres . With mineralization at
neighboring gold mines located along the Sefwi-Bibiani belt defined to much deeper vertical
depths, we are excited to continue to define Enchi’s longer-term resource growth and value
potential through the drill bit by advancing the potential that we believe exists at depth across
our district scale property."
This release reports results for 7 RC holes totalling 970 m (KJRC032 to KJRC038) targeting the
Kojina Hill Gold Target , with all holes intersecting gold mineralization. A total of 25,097 m in
207 holes have been reported as part of the ongoing 2024 - 2025 drill program at Enchi, with
98.5% of holes intersecting gold mineralization.
Select assay results from the 7 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)
KJRC033 Kojina Hill 124.0 126.0 2.0 0.75
and 126.0 127.0 1.0 183.86
and 127.0 134.0 7.0 1.08
KJRC034 Kojina Hill 0.0 13.0 13.0 3.06
including 2.0 5.0 3.0 8.09
including 9.0 12.0 3.0 4.59
KJRC036 Kojina Hill 0.0 14.0 14.0 0.58
and 24.0 43.0 19.0 0.43
KJRC037 Kojina Hill 20.0 49.0 29.0 0.57
including 21.0 27.0 6.0 1.29
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/5926/2025_09_04-ncau-nr-enchi-plan-map-kojinahill.pdf
Cross sections showing drill results and highlights for holes KJRC033 and KJRC034 can be
viewed at:
https://newcoregold.com/site/assets/files/5926/2025_09_04-ncau-crosssections-kojina.pdf
A complete list of the drill results in this release, including hole details, can be viewed at:
https://newcoregold.com/site/assets/files/5926/2025_09_04-ncau-enchi-2024-2025-drill-results.pdf
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Drilling at the Kojina Hill Gold Target
KJRC032 to KJRC038 (7 RC holes totalling 970 m) were completed at the Kojina Hill Gold
Target, an advanced target at Enchi with no defined mineral resource. Drilling targeted shallow
mineralization, including the near-surface oxide and transition horizon as well as the shallow
fresh (sulphide) mineralization. Drilling followed-up on areas previously identified through
trenching and wide spaced drilling (7 RC holes totalling 944 m drilled previously as part of the
current 2024 - 2025 drill program, in addition to 14 RC holes totalling 2,588 m drilled as part
of the 2020 – 2023 drill program). The goal of drilling at Kojina Hill is to identify areas for future
resource growth at Enchi. RC drilling at Kojina Hill tested a series of targets across five sections
spread along a strike length of 250 met res. Drilling targeted shallow mineralization, with drill
holes reaching a maximum vertical depth of 150 metres.
Drilling targeted the main area of mineralization currently defined at Kojina Hill. RC hole
KJRC033 was drilled in the central portion and tested the down dip extension of the gold
mineralization. The hole encountered the mineralized structure approximately 50 metres
below prior drilling and intersected 183.86 g/t Au over 1.0 m from 126 m (true width unknown),
within a contiguous zone of gold mineralization 24 metres in length (from 124 m to 148 m, true
width unknown) associated with the contact between wide zones of phyllite and greywacke as
well as with an increase in fine -grained pyrite, silici fication, and quartz veining. Additional
intercepts within this broad zone of mineralization included 1.08 g/t Au over 7.0 m from 127
m, 0.57 g/t Au over 10.0 m from 138 m and 0.75 g/t Au over 2.0 m from 124 m in the upper
fresh mineralization. As part of QA/QC measures an additional set of samples, which included
three metres above and five metres below the high-grade interval, was collected in the field to
confirm the high-grade results encountered in hole KJRC033. These samples were consistent
with the original values and returned 225.07 g/t Au over 1.0 m from 126 m with an additional
0.95 g/t Au over 4.0 m from 127 m. True widths are unknown but are estimated to be 75 - 85%
of the drill length.
An additional high -grade interval was encountered within hole KJRC034, the southernmost
hole drilled on the main portion of Kojina Hill, collared 150 metres south of KJRC033. RC hole
KJRC034 intersected 3.06 g/t Au over 13.0 m from surface, including higher-grade intervals of
8.09 g/t Au over 3.0 m from 2 m and 4.59 g/t Au over 3.0 m from 9 m associated with a wide
near-surface gold mineralized zone within the oxide horizon.
Additional holes drilled at Kojina Hill intercepted a series of sub -parallel gold mineralized
structures, including: KJRC036 which intersected 0.5 8 g/t Au over 14.0 m from surface and
0.43 g/t Au over 1 9.0 m from 24 m; and KJRC037 which intersected 0.57 g/t Au over 29.0 m
from 20 m including 1.29 g/t Au over 6.0 m from 21 m.
The recently completed drilling at Kojina Hill continues to confirm the potential for resource
growth at Enchi from drilling on earlier -stage targets that have been identified across the
district scale property.
2024 - 2025 Enchi Work Program
A 35,000-metre drill program is underway at Enchi, targeting near -surface oxide and shallow
fresh mineralization with a primary goal of infill drilling for resource conversion to improve the
confidence level of the existing Mineral Resource Estimate. Most of the infill drilling is allocated
to the two largest deposits at Enchi, Boin and Sewum. Improvin g the confidence level of the
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Mineral Resource Estimate at Enchi is a key component of the development work required to
be completed in advance of commissioning a Pre-Feasibility Study for the Project. A subset of
the drill program will also focus on outlining resource growth, with all deposit areas and pre-
resource targets at Enchi remaining open along strike and at depth, providing for future
resource growth across the district-scale property.
Additional exploration and development work is on -going at Enchi, including metallurgical
testwork, trenching, hydrogeological testing, geotechnical work, and environmental work.
Drone topographic surveys have been completed, expanding on previously completed work,
at the Kwakyekrom and Tokosea deposit areas to provide detailed topographic information
required to improve the confidence level of each deposit’s Mineral Resource Estimate.
Additionally, the drone survey was completed across the proposed heap leach facility area to
contribute additional data for future detailed engineering studies. An airborne magnetic
survey tested grass roots targets related to a series of gold -in-soil anomalies and gold
mineralization identified in trenching. Soil sampling was also completed on the Omanpe and
Abotia licenses with a goal of further defining early -stage targets across Enchi for future
trenching and drilling.
Kojina Hill Gold Target
The Kojina Hill Gold Target is an advanced target at Enchi with no currently defined mineral
resource estimate. Prior drilling at Kojina Hill consists of 21 RC holes totalling 3,532 metres.
Kojina Hill is located 10 kilometres southeast of the town of Enchi, with nearby roads and power
and further access provided by a series of drill roads. Kojina Hill is related to a structure sub -
parallel to the Nyam Shear Zone and the zone is located 1.5 kilometres west of the Nyam Gold
Deposit. The Kojina Hill Target is defined on surface by a two -kilometre-long and one -
kilometre-wide gold-in-soil anomaly of which less than 50% has been tested to date.
Drill Hole Locations
Table 2 - Enchi Gold Project Drill Hole Location Details
Hole ID UTM East UTM North Elevation Azimuth ° Dip ° Length (m)
KJRC032 528853 637334 108 120 -60 110
KJRC033 528780 637345 110 120 -60 162
KJRC034 528810 637223 150 300 -60 150
KJRC035 528862 637264 139 300 -60 144
KJRC036 528823 637288 140 300 -60 102
KJRC037 528841 637253 143 300 -60 108
KJRC038 528765 637392 99 120 -60 194
Enchi Gold Project Mineral Resource Estimate
The Enchi Gold Project hosts an Indicated Mineral Resource of 41.7 million tonnes grading
0.55 g/t Au containing 743,500 ounces gold and an Inferred Mineral Resource of 46.6 million
tonnes grading 0.65 g/t Au containing 972,000 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
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Instrument 43-101 ("NI 43-101"). The Mineral Resource Estimate is from the technical report
titled "NI 43 -101 Technical Report, Preliminary Economic Assessment on the Enchi Gold
Project" dated June 7, 2024, with an effective date of April 24, 2024, prepared for Newcore by
Preetham Nayak, P.Eng., Ryda Peung, P.Eng., and Zunedbhai Shaikh, P.Eng., of Lycopodium
Minerals Canada Ltd.; Kerrine Azougarh, P.Eng., of Micon International Limited; and Simon
Meadows Smith, P.Eng. / P.Geo., of SEMS Exploration in accord ance with NI 43 -101, and is
available under the Company’s profile on SED AR+ at www.sedarplus.ca. Simon Meadows
Smith is an independent qualified person ("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 an independent drilling firm using industry standard RC
and Diamond Drill equipment. Analytical quality assurance and quality c ontrol 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.
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 15% 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 2024 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
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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 events 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 phrases, 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; results of
preliminary economic assessments; completion of a pre-feasibility study; results of metallurgical testwork; results
of our ongoing drill campaign; results of dri lling, magnitude or quality of mineral deposits; anticipated
advancement of mineral properties or programs; and future exploration prospects.
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 information 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 and 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, among 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 activities; 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 hazards, 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 required 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.
2024 - 2025 Drill Program | Enchi Gold Project
Kojina Hill, Ghana (As of September 2025)
250 m
Previous Drill Holes
Legend
Drill Hole
Prior 2024 - 2025 Assays
Drill Hole
Assays Announced
Sep 4, 2025
Map Area
KJRC027
KJRC028
KJRC031
KJRC030
KJRC029
KJRC026
KJRC025KJRC038
KJRC033
KJRC034
KJRC037
KJRC036
KJRC032
KJRC035
0 Elev
100 Elev
120
KJRC007
100
KJRC003
KT001
KT011
KT001
162
KJRC033
120
KJRC022
183.86 g/t Au over 1 m
0.45 g/t Au over 1 m
1.08 g/t Au over 7 m
0.21 g/t Au over 3 m
0.91 g/t Au over 4 m
0.41 g/t Au over 9 m
0.57 g/t Au over 10 m
0.75 g/t Au over 2 m
0.20 g/t Au over 1 m
1.68 g/t Au over 5 m
0.90 g/t Au over 44 m
incl. 2.97 g/t Au over 6 m
0.79 g/t Au over 59 m
incl. 3.03 g/t Au over 10 m
0.63 g/t Au over 1 m
1.10 g/t Au over 48 m
incl. 2.45 g/t Au over 17 m
1.73 g/t Au over 14 m
0.26 g/t Au over 6 m
0.47 g/t Au over 8 m
0.73 g/t Au over 12 m
0.24 g/t Au over 12 m
0.22 g/t Au over 4 m
0.31 g/t Au over 28 m
2024 - 2025 Drill Program | Enchi Gold Project
Kojina Hill Target - Cross Section (A - A’)
KJRC033
Viewing Northeast, September 2025
Drillhole trace
Mineralized Zone
LEGEND
2023 Resource Pit Shell
(US$1,650/oz Au)
25 m0 50 m
surface
Oxide Zone
OPEN
TO DEPTH