Newcore Gold Announces $10 Million Bought Deal Financing

Newcore Gold Ltd. ("Newcore" or the "Company") (TSX-V: NCAU, OTCQX: NCAUF) is pleased to announce that it has entered into an agreement with Haywood Securities Inc., on its behalf and on behalf of a syndicate of underwriters (collectively, the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a bought-deal basis, 18,870,000 common shares of the Company (the "Common Shares") at a price of $0.53 per Common Share for aggregate gross proceeds to the Company of $10,001,100 (the "Offering").

The Company has granted the Underwriters an option (the "Underwriters’ Option") to increase the size of the Offering by up to an additional 2,830,500 Common Shares for additional gross proceeds of up to $1,500,165, exercisable at any time up to two business days prior to closing of the Offering.

The Company intends to use the net proceeds of the Offering to fund exploration and development activities at the Company’s Enchi Gold Project in Ghana, as well as for general corporate and working capital purposes as described in the Offering Document (as defined below).

The Offering is expected to close on or about May 28, 2026, or such other date as may be agreed to by the Company and the Underwriters (the "Closing"). Closing is subject to certain customary conditions, including, but not limited to, the receipt of all necessary approvals including the conditional approval of the TSX Venture Exchange and the applicable securities regulatory authorities. Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions ("NI 45-106"), the Offering is being made to purchasers’ resident in Canada, except Québec, pursuant to the listed issuer financing exemption under Part 5A of NI- 45-106, as amended and supplemented by Coordinated Blanket Order 45-935 Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the "Listed Issuer Financing Exemption"). The Common Shares offered under the Listed Issuer Financing Exemption will not be subject to a hold period in accordance with applicable Canadian securities laws.

The securities being offered have not been, nor will they be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any applicable securities laws of any state of the United States and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent such registration or an applicable exemption from such registration requirements. This release does not constitute an offer for sale or the solicitation of an offer to buy any of the securities in the United States or to, or for the account or benefit of, a U.S. person. "U.S. person" and "United States" are as defined in Regulation S under the U.S. Securities Act.

There is an offering document (the "Offering Document") related to the Offering that can be accessed under the Company’s profile on SEDAR+ at www.sedarplus.ca and on the Company’s website at newcoregold.com. Prospective investors should read this Offering Document before making an investment decision.