SMX Advances Cyber Hardware Security with "AAA" Vision

Rhea-AI Summary

Newcore Gold (TSX-V: NCAU; OTCQX: NCAUF) reported additional results from the 45,000-metre Enchi drill program, including 24 RC holes (3,843 m) at the Kwakyekrom deposit. Key intercepts include KKRC099: 1.08 g/t Au over 22.0 m (incl. 2.78 g/t over 7.0 m) and KKRC085A: 1.29 g/t Au over 15.0 m. The program has reported 28,940 m in 231 holes to date with 98.7% of holes intersecting gold. Enchi MRE: Indicated 41.7 Mt @ 0.55 g/t (743,500 oz); Inferred 46.6 Mt @ 0.65 g/t (972,000 oz).

Positive

• KKRC099 intercepted 1.08 g/t Au over 22.0 m (incl. 2.78 g/t over 7.0 m)
• KKRC085A intercepted 1.29 g/t Au over 15.0 m
• 98.7% of 231 holes reported have intersected gold (28,940 m reported)
• Enchi MRE: Indicated 41.7 Mt @ 0.55 g/t Au (743,500 oz)
• Enchi MRE: Inferred 46.6 Mt @ 0.65 g/t Au (972,000 oz)

Negative

• Kwakyekrom Inferred resource is 4.2 Mt @ 0.72 g/t Au (97,700 oz)
• Average vertical depth of holes to date is only ~80 m, limiting deep testing
• Several reported intercepts are modest grade (e.g., KKRC098: 0.60 g/t Au over 15 m)

Key Figures

Drill program size: 45,000 metres Highlight intercept: 1.08 g/t Au over 22.0 m High‑grade interval: 2.78 g/t Au over 7.0 m +5 more

8 metrics

Drill program size 45,000 metres Ongoing Enchi Gold Project drill program

Highlight intercept 1.08 g/t Au over 22.0 m Hole KKRC099 at Kwakyekrom from 112 m

High‑grade interval 2.78 g/t Au over 7.0 m Within KKRC099 from 126 m

Shallow intercept 1.29 g/t Au over 15.0 m Hole KKRC085A from 88 m

Holes in release 24 RC holes, 3,843 m Kwakyekrom drilling reported in this update

Program reported to date 28,940 m in 231 holes 2024–2025 Enchi drill program reported so far

Indicated resource 41.7M t @ 0.55 g/t Au (743,500 oz) Enchi Gold Project Mineral Resource Estimate

Inferred resource 46.6M t @ 0.65 g/t Au (972,000 oz) Enchi Gold Project Mineral Resource Estimate

Market Reality Check

Price: $0.5961 Vol: Volume 911,515 is below t...

low vol

$0.5961 Last Close

Volume Volume 911,515 is below the 20-day average of 2,326,328 (about 0.39x recent activity). low

Technical Shares at $23.98 are trading well below the 200-day MA of $1,404.38 and 99.89% below the 52-week high.

Peers on Argus

SMX fell 9.54% while only one peer (PMAX) showed notable downside momentum, and ...

1 Down

SMX fell 9.54% while only one peer (PMAX) showed notable downside momentum, and other sector peers had mixed, mostly modest moves, pointing to a stock-specific reaction.

Historical Context

5 past events · Latest: Jan 13 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 13	Tech application	Positive	-9.5%	Applied molecular tracking to silver supply chains with durable embedded markers.
Jan 12	Media feature	Positive	+14.7%	MSN.com feature on precious‑metal tracking and provenance technology.
Jan 12	Positioning update	Positive	+14.7%	Outlined identity‑first approach and long‑term infrastructure focus.
Jan 09	Regulation thesis	Positive	-17.9%	Framed regulation as demand driver for verifiable supply chains.
Jan 09	Sector use case	Positive	-17.9%	Highlighted textile traceability and denim as a key verification use case.

Pattern Detected

Recent SMX news has produced mixed reactions, with positive positioning pieces sometimes followed by sharp selloffs, suggesting unstable sentiment and frequent divergences.

Recent Company History

Over the last week, SMX issued several positioning updates on its material‑embedded traceability technology across metals, fashion, and regulated supply chains. Articles on Jan 9 framed regulation and luxury verification as tailwinds but coincided with −17.93% moves, while two pieces on Jan 12 around gold tracking and corporate positioning aligned with +14.71% gains. A silver‑supply‑chain update on Jan 13 then saw a −9.54% reaction, underscoring volatile, sentiment-driven trading into today’s hardware-focused announcement.

Market Pulse Summary

This announcement, focused on advancing SMX’s hardware‑oriented security vision, comes after a serie...

Analysis

This announcement, focused on advancing SMX’s hardware‑oriented security vision, comes after a series of positioning releases about embedded traceability in metals and textiles. Historically, similar news has prompted both sharp gains and sharp losses, highlighting sentiment‑driven volatility. Investors tracking this story may watch how it fits alongside recent financing moves, reverse splits, and the large gap between the $23.98 share price and the $21,303.998 52‑week high.

Key Terms

reverse circulation, mineral resource estimate, pre-feasibility study, hydrogeological, +4 more

8 terms

reverse circulation technical

"Shallow Reverse Circulation ("RC") drilling at the Kwakyekrom Gold Deposit"

Reverse circulation is a drilling method used in mineral exploration where rock fragments are lifted to the surface inside an inner tube while drilling, keeping samples cleaner and faster than conventional techniques. Investors care because it provides quicker, more reliable samples for estimating how much mineral or ore might be present, reduces exploration costs and drilling time, and therefore can speed up or improve the quality of resource assessments that drive project value.

mineral resource estimate technical

"outside of the current limits of the pit constrained Mineral Resource Estimate at Kwakyekrom"

A mineral resource estimate is a calculated approximation of how much metal or mineral material likely exists in a particular deposit and where it sits underground, similar to estimating how many cookies are in a jar by peeking at the layers. It matters to investors because it provides a data-based starting point for judging a project's potential value, future production and risks, while not guaranteeing recoverable or profitable amounts.

pre-feasibility study technical

"in advance of commissioning a Pre-Feasibility Study later this year"

A pre-feasibility study is an initial assessment that evaluates whether a proposed project or investment idea is worth exploring further. It involves examining basic factors like costs, potential benefits, and possible challenges, similar to conducting a preliminary check before deciding to invest more time and resources. This helps investors determine if pursuing the project further is practical and likely to be successful.

hydrogeological technical

"including metallurgical testwork, hydrogeological testing, geotechnical work, and environmental work"

Relating to the distribution and movement of groundwater beneath the surface and the properties of the soils and rocks that hold or transmit that water. For investors, hydrogeological information matters because it affects water supply, pollution risks, construction foundations, mining and energy projects, and cleanup costs — think of it as the earth’s plumbing system that can make projects work smoothly or create costly surprises.

geotechnical technical

"including metallurgical testwork, hydrogeological testing, geotechnical work, and environmental work"

"Geotechnical" relates to the study of Earth's materials and how they behave, especially soil and rock, to assess how stable and suitable land is for construction or development. For investors, understanding geotechnical conditions helps evaluate the safety, feasibility, and potential costs of building projects or infrastructure, influencing the value and risk associated with real estate and development ventures.

national instrument 43-101 regulatory

"incorporated by reference into National Instrument 43-101 ("NI 43-101")"

National Instrument 43-101 is a set of rules and guidelines that govern how mineral exploration and mining companies must report information about their projects. It ensures that the details shared with investors are accurate, consistent, and reliable—similar to how a detailed, verified blueprint ensures a building’s safety. This helps investors make informed decisions based on trustworthy information about a company's mineral resources.

qualified person regulatory

"is an independent qualified person ("QP") as defined by NI 43-101"

A qualified person is someone with specialized knowledge, experience, and training in a particular field, allowing them to accurately assess and verify information or work. Their expertise helps ensure that reports, evaluations, or decisions are trustworthy and meet required standards. For investors, a qualified person provides confidence that the information they rely on is credible and properly validated.

fire assay technical

"shipped directly to Intertek Labs located in Tarkwa, Ghana for 50 gram gold fire assay"

Fire assay is a laboratory process used to accurately measure the amount of precious metals, like gold or silver, in a sample of ore or material. It involves heating the sample intensely to separate the metals from other substances, much like melting and purifying metal to determine its purity. This method is important to investors because it provides precise data on the metal content, helping to assess the value of mining operations or mineral deposits.

AI-generated analysis. Not financial advice.

Drilling Continues to Highlight the Potential for Resource Growth at Enchi, Intersects Near Surface Gold Mineralization Outside of Current Resources at the Kwakyekrom Gold Deposit

VANCOUVER, British Columbia, Nov. 04, 2025 (GLOBE NEWSWIRE) -- Newcore Gold Ltd. ("Newcore" or the "Company") (TSX-V: NCAU, OTCQX: NCAUF) is pleased to announce additional drill results from the 45,000-metre drill program underway at the Company’s 100% owned Enchi Gold Project ("Enchi" or the "Project") in Ghana. Shallow Reverse Circulation ("RC") drilling at the Kwakyekrom Gold Deposit ("Kwakyekrom") intersected multiple zones of near-surface gold mineralization, including hole KKRC099 which intersected 1.08 grams per tonne gold ("g/t Au") over 22.0 metres ("m") from 112 m, with a higher-grade interval of 2.78 g/t Au over 7.0 m from 126 m. Hole KKRC085A also encountered shallow gold mineralization, intersecting 1.29 g/t Au over 15.0 m from 88 m. Both KKRC099 and KKRC085A targeted areas for potential resource growth and encountered mineralization outside of the current limits of the pit constrained Mineral Resource Estimate at Kwakyekrom. Drilling continues to prove out the continuity of gold mineralization and potential for resource growth at Enchi.

Highlights from Drilling at the Kwakyekrom Gold Deposit at Enchi

• Drilling at Kwakyekrom included holes that targeted and intersected gold mineralization outside of the current limits of the pit constrained Mineral Resource Estimate, highlighting the potential for future resource growth at Enchi.
  • KKRC099 intersected 1.08 g/t Au over 22.0 m from 112 m, with a higher-grade interval of 2.78 g/t Au over 7.0 m from 126 m.
  • KKRC085A intersected 1.29 g/t Au over 15.0 m from 88 m.
• Drilling continues to define a series of sub-parallel gold mineralized structures.
  • Gold mineralization was intersected on the northern and southern extents at Kwakyekrom, extending the mineralization both north and south of the current pit constrained Mineral Resource Estimate.

• All holes intersected gold mineralization, with drilling targeting shallow gold mineralization within the oxide, transition and upper fresh mineral horizons.

The 45,000-metre drill program underway at Enchi is focused on resource growth and infill drilling designed to convert Inferred Resources to Indicated. The drill program is now in its second phase focused on discovery and resource growth, including drilling targeting earlier-stage exploration targets along with drilling focused on defining the resource growth potential at depth and along strike. The completed first phase of drilling focused on the drilling required for resource conversion in advance of commissioning a Pre-Feasibility Study later this year.

Luke Alexander, President and CEO of Newcore stated, "The drilling we recently completed at Kwakyekrom continues to highlight the resource growth potential at Enchi, with these results highlighting the opportunity to expand the current deposit at Kwakyekrom both within the near-surface mineralization as well as at depth. This drilling has further defined the continuity of the gold mineralization along the edges of the current pits that constrain the current Mineral Resource Estimate at Kwakyekrom, while also extending the known mineralization to both the north and south. We look forward to continuing to highlight the growth potential that exists at our Enchi Gold Project in Ghana through the drill bit, in tandem with advancing the Project to a Pre-Feasibility Study in H1 2026."

This release reports results for 24 RC holes totalling 3,843 m (KKRC085A to KKRC108) targeting the Kwakyekrom Gold Deposit, with all holes intersecting gold mineralization. A total of 28,940 m in 231 holes have been reported as part of the ongoing 2024 - 2025 drill program at Enchi, with 98.7% of holes intersecting gold mineralization.

Select assay results from the 24 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)
KKRC099	Kwakyekrom	112.0	134.0	22.0	1.08
including		126.0	133.0	7.0	2.78
KKRC085A	Kwakyekrom	88.0	103.0	15.0	1.29
KKRC100	Kwakyekrom	8.0	19.0	11.0	1.39
KKRC088	Kwakyekrom	93.0	103.0	10.0	0.96
KKRC098	Kwakyekrom	25.0	40.0	15.0	0.60
including		33.0	37.0	4.0	1.65
and		214.0	215.0	1.0	6.41
KKRC093	Kwakyekrom	56.0	58.0	2.0	2.05
and		113.0	125.0	12.0	0.57

<sup>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.</sup> 

A plan map showing the drill hole locations can be viewed at:
https://newcoregold.com/site/assets/files/5936/2025_11_04-ncau-nr-enchi-plan-map-kwakyekrom.pdf  

Cross sections showing drill results and highlights for holes KKRC085A, KKRC086, KKRC093, KKRC098, KKRC099, and KKRC100 can be viewed at:
https://newcoregold.com/site/assets/files/5936/2025_11_04-ncau-crosssections-kwakyekrom.pdf

A complete list of the drill results in this release, including hole details, can be viewed at:
https://newcoregold.com/site/assets/files/5936/2025_11_04-ncau-enchi-2024-2025-drill-results.pdf

Drilling at the Kwakyekrom Gold Deposit
KKRC085A to KKRC108 (24 RC holes totalling 3,843 m) were completed at the Kwakyekrom Gold Deposit, targeting the northern and southern extensions of the mineralized structure. Drilling targeted shallow mineralization with a focus on expanding the deposit and growing the known resource. RC drilling at Kwakyekrom consisted of 50-metre spaced sections with drill holes spaced every 25-metres along the sections. Drilling targeted shallow mineralization, with drill holes reaching a maximum vertical depth of 120 metres. The holes reported in this news release are distributed across 12 separate sections that are spread along a 2-kilometre strike length, and span (1) the northern extension; (2) the northern edge of the resource pit; (3) the southern edge of the resource pit; and (4) the southern extension.

11 RC holes totalling 1,968 m (KKRC085A to KKRC091, KKRC096, KKRC098, KKRC099, KKRC108) were drilled at the northern extension of the Kwakyekrom Gold Deposit. Drilling intersected a series of sub-parallel structures hosting the gold mineralization in this area. KKRC099 intersected 1.08 g/t Au over 22.0 m from 112 m, with a higher-grade interval of 2.78 g/t Au over 7.0 m from 126 m. KKRC085A, located 150 metres north of KKRC099 and the northernmost hole drilled to date at Kwakyekrom as part of the current drill program, intersected 1.29 g/t Au over 15.0 m from 88 m. KKRC088 which tested below the shallow pit that currently constrains the Mineral Resource Estimate at Kwakyekrom extended the gold mineralization to depth intersecting 0.96 g/t Au over 10.0 m from 93 m. KKRC089, drilled 50 metres south of KKRC088, likewise extended the mineralization to depth intersecting 0.47 g/t Au over 18.0 m from 87 m.

6 RC holes totalling 825 m (KKRC092 to KKRC095, KKRC097B, KKRC100) were drilled on the northern edge of the pit that constrains the current Mineral Resource Estimate at Kwakyekrom. This drilling intersected a series of close-spaced gold mineralized structures. KKRC100 intersected 1.39 g/t Au over 11.0 m from 8 m and 0.97 g/t Au over 5.0 m from 109 m. Additional results in this area included KKRC093 with 0.57 g/t Au over 12.0 m from 113 m and 2.05 g/t Au over 2.0 m from 56 m, as well as KKRC092 with 0.84 g/t Au over 6.0 m from 91 m and 0.90 g/t Au over 4.0 m from 58 m.

3 RC holes totalling 438 m (KKRC101 to KKRC103) were drilled on the southern edge of the pit that constrains the current Mineral Resource Estimate at Kwakyekrom. KKRC102 intersected both near-surface and deeper gold mineralized structures with 0.42 g/t Au over 10.0 m from 25 m and 0.29 g/t Au over 20.0 m from 60 m.

4 RC holes totalling 612 m (KKRC104 to KKRC107) were drilled to test the southern extension of the Kwakyekrom Gold Deposit. KKRC104 intersected multiple gold mineralized structures including 0.35 g/t Au over 18.0 m from 67 m and 0.34 g/t Au over 22.0 m from 91 m.

The recently completed drilling at Kwakyekrom continues to confirm continuity along strike and down dip for the principal structures which comprise the Kwakyekrom Gold Deposit. The width and gold grades within these drill results are consistent with prior wider-spaced drilling completed at Kwakyekrom. This drilling also continues to confirm the potential for resource growth at Enchi from drilling on known deposits as well as at earlier-stage targets that have been identified across the district scale property.

2024 - 2025 Enchi Work Program
A 45,000-metre drill program is underway at Enchi, targeting near-surface oxide and shallow fresh mineralization. The primary goal of the first phase of the drill program was infill drilling for resource conversion to improve the confidence level of the existing Mineral Resource Estimate, with most of the first phase of the drill program allocated to the two largest deposits at Enchi, Boin and Sewum. Improving the confidence level of the Mineral Resource Estimate at Enchi is a key component of the development work required to be completed in advance of commissioning a Pre-Feasibility Study for the Project. With the first phase of drilling complete, the second phase of the 2024 – 2025 drill program will focus on outlining resource growth along strike at existing deposits and diamond drilling targeting the higher-grade potential at depth. 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.

In addition to drilling, development work in support of a Pre-Feasibility Study is on-going at Enchi, including metallurgical testwork, hydrogeological testing, geotechnical work, and environmental work.

Kwakyekrom Gold Deposit 
Kwakyekrom is one of the four deposits which comprise the Mineral Resource Estimate at Enchi (Kwakyekrom has an Inferred Mineral Resource of 4.2 million tonnes grading 0.72 g/t Au containing 97,700 ounces). Kwakyekrom is located 15 kilometres southeast of the town of Enchi, with nearby roads and power and further access provided by a series of drill roads. Kwakyekrom is located to the south of Nyam, with the Kwakyekrom structure interpreted to be an extension of the Nyam structure. To date, approximately 40% of the gold-in-soil anomaly at Kwakyekrom is untested by drilling, with the average vertical depth of all holes drilled to date at Kwakyekrom only down to 80 metres.

Drill Hole Locations

Table 2 - Enchi Gold Project Drill Hole Location Details

Hole ID		UTM East	UTM North	Elevation	Azimuth °	Dip °	Length (m)
KKRC085A	529000		635363	85	298	-60	180
KKRC086	528942		635392	104	298	-60	122
KKRC087	528929		635332	109	298	-60	150
KKRC088	528945		635255	102	298	-60	174
KKRC089	528968		635307	100	298	-60	228
KKRC090	528899		635167	102	298	-60	240
KKRC091	528796		635102	112	298	-60	120
KKRC092	528633		634835	130	298	-60	126
KKRC093	528695		634878	132	298	-60	125
KKRC094	528762		634990	130	298	-60	102
KKRC095	528771		634927	128	298	-60	168
KKRC096	528816		634982	117	298	-60	180
KKRC097B	528779		634878	116	298	-60	78
KKRC098	528890		635212	101	298	-60	220
KKRC099	528934		635195	104	298	-60	240
KKRC100	528748		634846	126	298	-60	226
KKRC101	528521		634486	102	298	-60	192
KKRC102	528458		634419	115	298	-60	114
KKRC103	528430		634374	121	298	-60	132
KKRC104	528415		634306	130	298	-60	150
KKRC105	528387		634272	137	298	-60	150
KKRC106	528353		634248	147	298	-60	132
KKRC107	528390		634223	148	298	-60	180
KKRC108	528786		635064	127	298	-60	114

Enchi Gold Project Mineral Resource Estimate
The Enchi Gold Project hosts an Indicated Mineral Resource of 41.7 million tonnes grading 0.55 g/t Au containing 743,500 ounces gold and an Inferred Mineral Resource of 46.6 million tonnes grading 0.65 g/t Au containing 972,000 ounces. Mineral resource 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 "NI 43-101 Technical Report, Preliminary Economic Assessment on the Enchi Gold Project" dated June 7, 2024, with an effective date of April 24, 2024, prepared for Newcore by Preetham Nayak, P.Eng., Ryda Peung, P.Eng., and Zunedbhai Shaikh, P.Eng., of Lycopodium Minerals Canada Ltd.; Kerrine Azougarh, P.Eng., of Micon International Limited; and Simon Meadows Smith, P.Eng. / P.Geo., of SEMS Exploration in accordance with NI 43-101, and is available under the Company’s profile on SEDAR+ at www.sedarplus.ca. Simon Meadows Smith is an independent qualified person ("QP") as defined by NI 43-101.

Newcore Gold Best Practice
Newcore is committed to best practice standards for all exploration, sampling and drilling activities. Drilling was completed by an independent drilling firm 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 as defined by NI 43-101, and has reviewed and approved the technical data and information contained in this news release. Mr. Smith has verified the technical and scientific data disclosed herein 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 15% 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 2024 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: statements about the estimation of mineral resources; results of preliminary economic assessments; completion of a pre-feasibility study; results of metallurgical testwork; results of our ongoing drill campaign; results of drilling, magnitude or quality of mineral deposits; anticipated advancement of mineral properties or programs; and future exploration prospects.

These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. The assumptions underlying the forward-looking statements are based on information currently available to Newcore. Although the forward-looking statements contained in this news release are based upon what management of Newcore believes, or believed at the time, to be reasonable assumptions, Newcore cannot assure its shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Forward-looking information also involves 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 information. Such factors include, among others: risks related to the speculative nature of Newcore’s business; Newcore’s formative 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; fluctuations in securities markets; fluctuations in spot and forward prices of gold and other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, 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); and title to properties.

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 information 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 information.

FAQ

What were the top drill intercepts at Kwakyekrom reported on January 14, 2026 for NCAU?

KKRC099: 1.08 g/t Au over 22.0 m (including 2.78 g/t over 7.0 m); KKRC085A: 1.29 g/t Au over 15.0 m.

How many metres and holes has Newcore reported at Enchi through the 2024–2025 program (NCAU)?

A total of 28,940 m in 231 holes have been reported, with 98.7% of holes intersecting gold.

What is the current Enchi mineral resource estimate cited by Newcore (NCAU)?

Enchi hosts an Indicated 41.7 Mt @ 0.55 g/t Au (743,500 oz) and Inferred 46.6 Mt @ 0.65 g/t Au (972,000 oz).

Does the new drilling at Kwakyekrom expand the existing resource limits for NCAU?

Yes; the release says drilling intersected mineralization outside the current pit-constrained Mineral Resource Estimate, extending mineralization north and south.

How deep have drill holes averaged at Kwakyekrom and what does that imply for NCAU?

Average vertical depth to date is around 80 m, indicating limited testing at depth and potential for deeper targets.

Will Newcore use these results toward a Pre-Feasibility Study for Enchi (NCAU)?

The company indicates first-phase drilling supported resource conversion ahead of a Pre-Feasibility Study planned for H1 2026.