Leocor Gold Inc. announced results of the 2021 exploration activities and 2022 exploration plans on the Company's Baie Verte Project located near Anaconda Mining's Pine Cove Mine and Rambler Metal's Ming Mine in northwestern Newfoundland. The 2021 work program included soil sampling, GT Probe sampling, geophysics, and a LiDAR and high-resolution drone imagery surveys. Highlights include: Multiple targets identified along 7km northeast trending zone of anomalous gold in soils and a 4km subparallel trend of anomalous copper (+/- gold) in soils with results up to 1,601 ppb gold ("Au") and 2,862 ppm copper ("Cu").

Indications of two styes of mineralization on the project including VMS style copper (+/-gold-zinc) mineralization and structurally controlled gold mineralization with similarities to the nearby Pine Cover Mine. Based on the results of the 2021 program the Company is also planning a Phase 1 drilling campaign consisting of a minimum of 30 Rotary Air Blast ("RAB") drill holes on at least 4 of the gold and copper targets. The RAB drill program is expected to commence in June 2022 and is designed to evaluate the targets for potential follow up diamond drilling.

In addition to the RAB drilling the Company is also planning to complete additional soil sampling, prospecting, geologic mapping, and geophysical surveys on the project. 2021 Exploration Program A two-phase surface geochemistry program consisting of 5,313 soil samples and 449 GT Probe samples was conducted in late 2021. A LiDAR survey was flown over the entirety of the project during early season efforts to assist in later program planning and logistics.

In addition, a ground MAG-VLF survey was conducted to aid in geological and structural interpretation along an 8-kilometer segment of the Baie Verte fault system, which is interpreted to be a significant control on gold mineralization across the property. Soil Sampling A total of 5,313 soil samples were collected on 100 meters spaced lines and 25-meter spaced samples with soil lines-oriented NW-SE to cross dominant geological contacts and structures. Sample depths ranged from 30 cm to 110 cm and targeted C-Horizon material.

Assays for the samples ranged from trace to 1,601 ppb Au and from trace to 2,862 ppm Cu. These samples defined a series of linear, NE trending, gold anomalies over a 7km trend across the property including the Dorset, Copper Creek, and FMB trends. In addition, they defined two zones of strongly anomalous copper (+/- gold) in soils along a 4km subparallel trend and include the Copper Creek and Copper Creek South trends.

GT Probe Sampling In addition to the soils, a total of 449 GT Probe samples were collected over 14 lines on the Copper Creek, Copper Creek South, and Dorset Trends. The GT Probe is a track mounted device designed to drive a cased hole through the soil profile to the bedrock interface with samples collected from the final 30cm of the hole and analyzed for gold and other pathfinder elements. Samples were spaced at 5-meter intervals and ranged from 30cm to 420cm in depth.

Assays for the samples ranged from trace to 1.97 g/t Au and from trace to 400 ppm Cu. Dorset Trend (Gold) The Dorset trend consists of a 2.5-kilometer-long gold in soil anomaly located approximately 3km south of the Baie Verte townsite and extending from historic Dorset and Gunshot prospects (rock samples up to 57.2 g/t Au) to the southwest. The target has soil results of up to 1,601 ppb Au and includes 33 samples >100 ppb Au.

Six GT Probe lines were also placed across the target and include results up to 1.19 g/t Au. FMB Trend (Gold) The FMB Trend (Five Mile Brook Trend) is characterized by a 2km gold ­ arsenic ("As") soil trend that is 4km SSW of Baie Verte and less than 1km off of the main highway. This target has soil values of up to 1,536 ppm As and 263 ppb Au and is locally associated with anomalous molybdenum, antimony, and zinc. .

A rock sample returning 1.31 g/t Au was also collected along the trend. 2022 Exploration Program Based on the 2021 exploration results, the Company is planning an initial RAB drilling program on Dorset. The program will consist of a minimum of 30 drill holes and will test both gold and copper targets on .

the Dorset, Copper Cree, Copper Creek Southwest, and FMB trends. The drilling is anticipated to commence in early June 2022 and is designed to evaluate the targets for potential follow up diamond drilling. In addition to the RAB drilling, geologic mapping, soil sampling, rock sampling, and geophysical work will be conducted to extend mineralized trends and aid in geologic interpretation on the project.