VANCOUVER, British Columbia, July 29, 2026 (GLOBE NEWSWIRE) — 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 Nyam Gold Deposit ("Nyam") encountered high-grade gold mineralization in the upper fresh mineralization, below the limits of the pits that constrain the Mineral Reserves. Hole NBDD088 intersected 3.67 grams per tonne gold ("g/t Au") over 25.3 metres ("m") from 307.7 m, the highest grade-thickness zone encountered to date at Nyam. Drilling continues to demonstrate the continuity of gold mineralization and potential for resource growth at Enchi. Results from drilling completed in 2026, including drilling targeting higher-grade mineralization at depth, are expected to be incorporated into future project economic studies and may support further mine plan optimization.
Highlights from Diamond Drilling at the Nyam Gold Deposit at Enchi
- Drilling intersected high-grade gold mineralization above the mineral reserve grade and below the limits of the pits that constrain the Mineral Reserves.
- Diamond drill hole NBDD088 intersected 3.67 g/t Au over 25.3 m from 307.7 m.
- This intercept is the highest grade-thickness zone encountered to date at Nyam.
- Diamond drilling tested the down dip and lateral extensions to high-grade gold mineralization previously identified at Nyam.
- Hole NBDD091 intersected 1.26 g/t Au over 18.0 m from 300.0 m, including 2.31 g/t Au over 9.0 m from 300.0 m.
- Hole NBDD087 intersected 1.18 g/t Au over 14.0 m from 186.0 m.
- Drill results not included in Mineral Resource Estimate and Pre-Feasibility Study, with drilling continuing to highlight Enchi’s longer-term prospectivity.
- Drilling reported in this news release targeted mineralization to depth and reached a maximum vertical depth of 275 metres. The average vertical depth of all holes drilled to date at Nyam is only down to 100 metres.
- All deposits at Enchi remain open for expansion along strike and to depth.
Luke Alexander, President and CEO of Newcore stated, "We are excited by the continued strong results achieved from drilling underway at Enchi, with this set of results including the best intercept encountered to date at Nyam on a gram by metre basis. Importantly, drilling is encountering wide zones of mineralization well above the currently defined resource grade, continuing to support the opportunity to prove out higher-grade gold in future economic studies. These holes also successfully intersected gold mineralization below the reserve pits, highlighting the opportunity for resource conversion and the potential for future mineral reserve growth. With an 80,000 metre drill program underway at Enchi, and four drill rigs active, we look forward to continuing to create value through the drill bit, with this drill program an important step in continuing to prove out the potential of our Enchi Gold Project in Ghana."
This release reports results for 5 DD holes totalling 1,489 m (NBDD087 to NBDD091) targeting the Nyam Gold Deposit, with all holes intersecting gold mineralization. A total of 46,140 m in 288 holes has been reported to date as part of the ongoing drill program at Enchi, with 99% of holes intersecting gold mineralization.
Select assay results from the 5 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) |
| NBDD088 | Nyam | 307.7 | 333.0 | 25.3 | 3.67 |
| NBDD091 | Nyam | 300.0 | 318.0 | 18.0 | 1.26 |
| including | 300.0 | 309.0 | 9.0 | 2.31 | |
| NBDD087 | Nyam | 186.0 | 200.0 | 14.0 | 1.18 |
| NBDD090 | Nyam | 166.0 | 188.4 | 22.4 | 0.72 |
| including | 178.0 | 188.4 | 10.4 | 1.21 |
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/5986/2026_07_29-ncau-nr-enchi-plan-map-nyam.pdf
A cross section showing drill results and highlights for hole NBDD087 and NBDD088 can be viewed at:
https://newcoregold.com/site/assets/files/5986/2026_07-ncau-crosssection-nbdd088.pdf
A complete list of the drill results in this release, including hole details, can be viewed at:
https://newcoregold.com/site/assets/files/5986/2026_07_29-ncau-enchi-2024-2026-drill-results.pdf
Diamond Drilling at the Nyam Gold Deposit
NBDD087 to NBDD091 (5 DD holes totalling 1,489 m) were completed at Nyam, targeting high-grade mineralization within the fresh mineral horizon. The goal of this drilling was to continue to expand high-grade mineralization to depth and convert high-grade portions of the existing Inferred Mineral Resource to the Indicated category. The 5 holes focused on testing previously identified high-grade shoots at Nyam to depth. This drilling included some of the deepest holes completed to date at Nyam, reaching a maximum vertical depth of 275 metres. The holes reported in this news release were distributed across 4 separate sections spread along a 410 metre strike length.
Four diamond drill holes totalling 1,147 m (NBDD087 to NBDD090) targeted extensions to a southern high-grade shoot identified at Nyam. Hole NBDD088 intersected 3.67 g/t Au over 25.3 m from 307.7 m, the highest grade-thickness intercept drilled to date at Nyam. This hole was drilled just below the pit that constrains the current Mineral Resource Estimate, highlighting the potential to convert Inferred material to Indicated, as well as continue to extend the higher-grade mineralization at Nyam to depth. Hole NBDD087, drilled on the same section as NBDD088, also intersected above resource-grade mineralization with 1.18 g/t Au over 14.0 m from 186.0 m. Hole NBDD090, collared 210 metres north of NBDD088 on the northern edge of the southern high-grade shoot, intersected 0.72 g/t Au over 22.4 m from 166.0 m, including a higher-grade interval of 1.21 g/t Au over 10.4 m from 178.0 m.
One diamond drill hole totalling 342.5 m (NBDD091) targeted a central high-grade shoot identified at Nyam, with drilling intersecting mineralization above the current resource grade. Hole NBDD091, drilled 410 metres north of NBDD088, intersected 1.26 g/t Au over 18.0 m from 300.0 m, including a higher-grade interval of 2.31 g/t Au over 9.0 m from 300.0 m.
Diamond drilling completed at Nyam continues to intersect mineralization above the resource grade and continues to confirm continuity along strike and down dip, extending the principal structures which comprise the Nyam Gold Deposit.
Enchi Work Program
An 80,000 metre drill program is underway at Enchi. The drill program 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 reserve and resource growth along strike at existing deposits. Diamond drilling is targeting 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 formed the basis for a Pre-Feasibility Study ("PFS"). 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.
Development work continues at Enchi, in support of project advancement, including metallurgical testwork, hydrogeological testing, geotechnical work, and environmental work. A Pre-Feasibility Study was completed in June 2026 (see news release dated June 24, 2026), outlining a base case assessment of developing an open pit, standard milling and carbon-in-leach operation using contract mining and processing 5.5 Mtpa. Recent drilling completed at Enchi has highlighted potential for resource growth, with high-grade encountered at depth and mineralization delineated below the pits that constrain the current Mineral Reserve and Mineral Resource Estimates. Drill results reported in 2026 have not been included in the Mineral Resource Estimate and PFS.
Nyam Gold Deposit
Nyam is one of the four deposits which comprise the Mineral Resource Estimate at Enchi (Nyam has an Indicated Mineral Resource of 13.5 million tonnes grading 0.66 g/t Au containing 287,000 ounces and an Inferred Mineral Resource of 5.5 million tonnes grading 0.68 g/t Au containing 120,000 ounces). Nyam is located 15 kilometres east of the town of Enchi, with nearby roads and power and further access provided by a series of drill roads. An airborne geophysical anomaly coincident with the Nyam Gold Deposit defines a complex series of linear high conductivity trends, reflective of the multiple sub-parallel gold-bearing structures. To date, approximately 30% of the gold-in-soil anomaly at Nyam is untested by drilling, with the average vertical depth of all holes drilled to date at Nyam 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) | |
| NBDD087 | 530320 | 637235 | 112 | 300 | -57 | 274.3 | |
| NBDD088 | 530383 | 637190 | 105 | 300 | -56 | 388.0 | |
| NBDD089 | 530358 | 637314 | 98 | 300 | -60 | 268.0 | |
| NBDD090 | 530387 | 637439 | 89 | 300 | -61 | 216.2 | |
| NBDD091 | 530580 | 637565 | 89 | 300 | -55 | 342.5 | |
Enchi Gold Project Mineral Reserve and Resource Estimates
The Enchi Gold Project hosts a Probable Mineral Reserve of 51.3 million tonnes grading 0.64 g/t Au containing 1,055,000 ounces gold; 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. The Indicated Mineral Resources are inclusive of the Mineral Reserves. Mineral resource and mineral reserve 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"). 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") within the meaning of NI 43-101. The Mineral Reserve Estimate was announced on June 24, 2026, with a technical report to be filed on Newcore’s SEDAR+ profile within 45 days of that news release.
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.
Qualified Person
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 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 12% equity ownership, and prime district scale exploration opportunities. Enchi’s 248 km2 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 kilometres 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
info@newcoregold.com
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 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: timing of completion of a technical report summarizing the results of the PFS and Mineral Reserve Estimate; statements regarding the estimation and potential realization of mineral resources and mineral reserves; proposed development plans for the Company; results of metallurgical testwork; results of the Company’s ongoing drill campaign; the magnitude or quality of mineral deposits; anticipated advancement of mineral properties or programs; future operations; the completion and timing of future development studies; 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 or 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 accuracy of the underlying technical and economic assumptions; commodity prices; exchange rates; availability of financing; permitting and development timelines; the ability of ongoing and future exploration programs to further define, expand or upgrade mineralization; the potential for additional mineralization identified through drilling to be incorporated into future mineral resource and mineral reserve estimates or mine plans; the ability of ongoing and future exploration programs to further define, expand or upgrade mineralization; the potential for additional mineralization identified through drilling to be incorporated into future mineral resource and mineral reserve estimates or mine plans; 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 exploration activities; fluctuations in general macroeconomic conditions and securities markets; fluctuations in the price of gold and other commodities; fluctuations in currency exchange rates; 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; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); uncertainties related to exploration results and the ability to convert mineralization into mineral resources or mineral reserves; the risk that additional mineralization identified through drilling may not be incorporated into future studies or may not have a material impact on the Project; and title to properties. 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.
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