Newcore Gold Files Pre-Feasibility Study Technical Report for the Enchi Gold Project, Ghana
NEWS RELEASE
Suite 1560 - 200 Burrard Street www.newcoregold.com
Vancouver, British Columbia V6C 3L6 [email protected]
Newcore Gold Files Pre-Feasibility Study Technical Report
for the Enchi Gold Project, Ghana
August 7, 2026 TSX-V: NCAU, OTCQX: NCAUF
Vancouver, BC – Newcore Gold Ltd. ("Newcore" or the "Company") (TSX-V: NCAU,
OTCQX: NCAUF) is pleased to announce that it has filed the technical report supporting the
Pre-Feasibility Study ("PFS" or the "Study") for the Company’s Enchi Gold Project ("Enchi" or
the "Project") in Ghana.
The technical report, titled " Enchi Gold Project, Pre -Feasibility Study, NI 43 -101 Technical
Report”, was prepared by Lycopodium (Americas) Limited of Mississauga, Ontario, as the lead
consultant, in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral
Projects ("NI 43 -101") and has an effective date of June 23, 2026 . The technical report is
available under the Company’s SEDAR+ profile at www.sedarplus.ca.
The PFS provides a base case assessment of developing Enchi as a conventional open pit
mining operation with standard milling and carbon-in-leach processing 5.5 million tonnes per
annum utilizing contract mining. The PFS is based on a Mineral Resource Estimate announced
by Newcore on March 18, 2026 which incorporated drilling completed through
October 6, 2025, and excludes more than 50,000 of additional metres from the 80,000 metre
drill program underway at Enchi. Current drilling has targeted high -grade potential at depth,
intersecting mineralization above the reserve and resource grade and extending the limits of
the pits that constrain the Mineral Reserves and Mineral Resources . Results from drilling
completed in 2026 will be incorporated into future reserve and resource estimates, as well as
future project economic studies.
Further details regarding the PFS for the Project is summarized in Newcore’s news release
dated June 24, 2026, as well as in the technical report which is available on Newcore’s website
at newcoregold.com and under the Company’s SEDAR+ profile at www.sedarplus.ca.
Qualified Persons
The PFS for the Enchi Gold Project was prepared for Newcore by Lycopodium as lead study
manager, with support from other industry consultants, each of whom is a "qualified person"
within the meaning of NI 43-101 and considered to be "independent" of the Company under
section 1.5 of NI 43-101.
• Lycopodium (Canada) Limited: Preetham Nayak, P. Eng. (Capital Cost Estimate and Project
Economics), Ryda Peung, P. Eng. (Metallurgy and Mineral Processing, Recovery Methods,
Process Operating Costs), Zuned Shaikh, P. Eng. (Project Infrastructure).
• Fuse Advisors (part of SLR): Grant Carlson, P. Eng. (Mining and Mineral Reserves, Mining
Capital and Operating Costs).
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• Knight Pi ésold: Ing. Ama Nketiah, Hugues Ngoy Nkulu, Martiens Prinsloo, Pr.Sci. Nat,
Jorge Velazquez (Project Infrastructure), George Lartey-Young, CEnv (Environment, Social,
Community Impact).
• DRA Americas Inc.: Ryan Wilson, P. Geo., Matthew Halliday, P. Geo., Schadrac Ibrango,
P. Geo. , (Geology and Mineral Resources) , Claude Bisaillon , P. Eng. (Geotechnical Pit
Design Criteria).
Mr. Gregory Smith, P. Geo, Vice President of Exploration at Newcore, is a "Qualified Person"
within the meaning of NI 43 -101. Mr. Smith has reviewed and approved the scientific and
technical information contained in this news release.
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: the magnitude or quality of mineral deposits; anticipated advancement of mineral
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properties or programs; future exploration prospects and growth of mineral properties; the potential to
incorporate additional mineralization into future mineral resource and mineral reserve estimates or future
studies; the results of recent drilling not yet incorporated into the Mineral Resource Estimate o r the PFS;
the potential expansion or enhancement of mineralization; and the impact of future exploration and
drilling on the Project .
These forward-looking statements are based on assumptions management believes to be reasonable at
the time such statements are made, including, without limitation, assumptions regarding: the ability of
ongoing and future exploration programs to further define, expand or upgrade the ability of ongoing and
future exploration programs to further define, expand or upgrade mineralization; and the Company’s
ability to execute its plans as currently contemplated. Although the Company believes these assumptions
to be reasonable based on information currently available, they may prove to be incorrect.
Forward-looking statements also involve 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
statements. Such factors include, among others: risks related to the speculative nature of Newcore’s
business; Newcore’s stage of development; Newcore’s financial position; possible variations in
mineralization, grade or recovery rates; actual results of current exp loration activities; fluctuations in
general macroeconomic conditions and securities markets; change in national and local government,
legislation, taxation, controls, regulations and political or economic developments; risks and hazards
associated with mineral exploration, development and mining (including environmental hazards and
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; and the
speculative nature of mineral exploration and development (including the risks of obtaining necessary
licenses, permits and approvals from government authorities). Readers are cautioned that the foregoing
list of factors is not exhaustive of the factors that may affect the forward -looking statements.
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 statements 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 statements.