Newcore Gold Ltd. is pleased to announce additional drill results from the 80,000-metre drill program underway at the Company’s Enchi Gold Project in Ghana. Diamond Drilling at the Sewum Gold Deposit 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.
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-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, we 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 |
Diamond drilling at the Sewum gold deposit
SWDD115 and SWDD117 to SWDD121 (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 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 within 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.
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), that are incorporated by reference into National Instrument 43-101 (“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.
