Newcore Gold Delivers Encouraging Drill Results at Enchi, Ghana

Newcore Gold has reported encouraging new drill results from its ongoing 45,000 metre drill programme at the Enchi Gold Project in Ghana, further reinforcing shallow gold continuity at the Boin Gold Deposit. The latest results strengthen confidence in the geological model and support the project’s advancement toward a planned pre feasibility study, positioning Enchi as one of the more active emerging gold developments in West Africa.

The newly reported reverse circulation drilling targeted previously undrilled areas at the Northwest Boin Target, an area considered important for defining lateral continuity beyond the current resource footprint. Results included multiple encouraging intercepts such as 0.78 grams per tonne gold over 16 metres and 0.51 grams per tonne gold over 18 metres, highlighting consistent near surface mineralisation. A higher grade shallow intersection of 3.16 grams per tonne gold over 3 metres further demonstrates the presence of localized higher grade zones within the broader mineralised system.

The first phase of the RC programme has now been completed, with six holes drilled for a total of approximately 550 metres. Importantly, around 98 percent of the holes intersected gold mineralisation, a strong technical outcome that underscores the continuity and predictability of the Boin deposit. These results are expected to contribute to both resource growth and resource conversion, key objectives as Newcore prepares the project for more advanced technical studies.

Following the completion of RC drilling, diamond drilling is now underway at Enchi to test deeper and potentially higher grade mineralisation beneath the shallow zones. Diamond drilling will provide critical structural and geological information, as well as more representative samples, to refine the deposit model at depth. The first assay results from this phase are expected in early 2026 and are anticipated to play an important role in shaping the upcoming pre feasibility study.

Newcore Gold President and Chief Executive Officer Luke Alexander has confirmed that the Enchi Gold Project remains firmly on track for a pre feasibility study in early 2026. He noted the strong potential for continued resource expansion across parallel structures and at depth, reinforcing Enchi’s scale and long-term development potential. The systematic drilling strategy reflects the company’s focus on building a robust, technically sound foundation for future development decisions.

From a broader perspective, continued exploration success at Enchi highlights Ghana’s enduring role as one of Africa’s most established and attractive gold jurisdictions. Projects such as Enchi support sustained investment in the country’s mining sector, contribute to future employment and infrastructure development, and strengthen Ghana’s position within the regional gold supply chain. As Newcore advances toward pre feasibility, positive drilling momentum could enhance investor confidence and further support long-term growth in Ghana’s gold mining industry.

Mini-Glossary

• Reverse circulation (RC) drilling: A drilling method that uses compressed air to bring rock chips to the surface for sampling.
• Diamond drilling: A drilling technique that extracts continuous rock core, providing detailed geological information.
• Grams per tonne (g/t): A measure of gold concentration within rock, indicating grade.
• Mineralisation: The presence of economically valuable metals within rock.
• Pre feasibility study: An advanced technical and economic assessment that evaluates the viability of a mining project before full feasibility.

Editor: Vural Burç ÇAKIR