Newcore Gold Announces Appointment of Vice President, Projects

Commences Updated Preliminary Economic Assessment for the Enchi Gold Project, Ghana

VANCOUVER, British Columbia, Sept. 08, 2023 (GLOBE NEWSWIRE) -- Newcore Gold Ltd. ("Newcore" or the "Company") (TSX-V: NCAU, OTCQX: NCAUF) is pleased to announce the appointment of Branden Fraser, P.Eng. as Vice President, Projects, effective September 8, 2023. Newcore is also pleased to announce it has commenced the process of engaging an independent engineering firm to prepare an updated National Instrument 43-101 Preliminary Economic Assessment ("PEA") study for the Company’s 100% owned Enchi Gold Project ("Enchi" or the "Project") in Ghana.

Luke Alexander, President and CEO of Newcore stated, "We are very excited to welcome Branden to our team. His significant experience in mine development, both with study management as well as in construction and operations, will be a significant benefit as we continue to advance the development of our Enchi Gold Project in Ghana. Concurrently we are excited to be kicking-off the process to complete an updated PEA for the Project, incorporating the updated Mineral Resource Estimate that was announced earlier this year, along with the significant metallurgical testwork that has been completed on the Project since the last economic study was completed in 2021. We continue to advance and de-risk the development of our Enchi Gold Project and look forward to creating significant value for our shareholders."

Mr. Fraser, P.Eng., has over 10-years of on-site experience in construction and operations in both mining and processing roles, as well as significant study management and consulting experience. His contributions span diverse regions including South America, Central America, Europe, Africa, and subarctic Canada. Beginning with five years in trades roles within mining and milling operations, Mr. Fraser transitioned to project and field engineering positions with Canadian Northern Mining Corp. and JDS Mining and Energy Inc. in 2014. Notably, he acted as Project, Field, and Commissioning Engineer for the construction and commissioning of JDS Silver's Silvertip Mine in 2015 and Victoria Gold Corp.'s Eagle Gold Mine in 2017. Following the successful commissioning of the Eagle Gold Mine in 2019, Mr. Fraser assumed the role of the site’s Heap Leach Engineer. Simultaneously, he provided consulting support for preliminary and Pre-Feasibility designs and assessments for several heap leach projects, including Newcore's 2021 PEA. Before joining Newcore Gold, Branden was a Process Engineer and Project Manager at BBA. Mr. Fraser holds a Bachelor of Science in Mining and Mineral Processing Engineering from Montana Technological University and is a registered professional engineer with Engineers & Geoscientists British Columbia.