• Newcore Gold increases Enchi project resources to 1.50 million ounces

• Growth follows drilling across four deposits, boosting development prospects

• Company targets feasibility study by June to assess production viability

Canadian miner Newcore Gold said Wednesday that indicated mineral resources at its Enchi gold project in Ghana rose to 1.50 million ounces, up from 743,500 ounces previously, marking a key step toward developing a new mine.

The increase follows drilling carried out between 2024 and 2025 and includes all four deposits — Boin, Sewum, Nyam and Kwakyekrom. An additional 626,000 ounces are classified as inferred resources. While these offer exploration upside, indicated resources carry higher confidence and are more relevant for mine planning.

With the updated resource base, Newcore said it is well positioned to complete a preliminary feasibility study (PFS) by the end of June. The study is expected to provide initial economic indicators on the viability of large-scale production at Enchi.

“We are excited to have achieved this important next milestone at Enchi and are looking forward to a busy year ahead marked by advancing the Project to a PFS study alongside exploration drilling, with a key focus on unlocking the significant value of our Enchi Gold Project for all stakeholders,” said President Luke Alexander.

Further studies will be needed after the PFS to convert resources into reserves — a key step in advancing the project toward production. Exploration work is ongoing, supported by a recent C$10 million ($7.3 million) capital raise.

Aurel Sèdjro Houenou