Leocor Updates Progress at its 150,000-ha Gold Exploration Portfolio in Newfoundland, Canada

The Company's district-scale Atlantic Gold Portfolio comprises 152,822 hectares (586-sq miles) of prospective gold claims in three separate mining districts:

1. 1) Baie Vert Project combines the Dorset, Dorset Extension, Five Mile Brook, and Copper Creek areas.

2. 2) Western Exploit District is home to the Hodges Hill, Leamington, and Roberts Arm projects.

3. 3) Gander district is home to the Startrek project

The Baie Verte Project is the subject of a large soil sampling campaign designed principally to give a reliable geochemical targeting base to an area with significant historical exploration. From an initial two-phase plan of 4940 soils we have collected ~4650 see Figure 1.

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Figure 1: Soil sampling progress at Baie Verte as of the 7th Nov, 2021.

The Western Exploit district is very much a generative project and as such the soil sampling is the principal tool being currently employed. The soils collected as of the 7TH Nov, 2021 are tabulated below and illustrated in Figures 2, 3 and 4 respectively.

Western Exploits Phase 1 Soil Completion Status

Property Planned Sampled Null Samples Collected % Completion

Robert's Arm 4,006 3,119 400 2,718 78%

Leamington 4,948 3,201 285 2,915 65%

Hodge's Hill 5,165 1,815 180 1,636 35%

At the Startrek project we are now at an advanced stage of what was initially a ~4140 plan. From the initial 4140 plan we reduced the autumn program to the priority soils ~3170 and of these 2395 soils had been collected by collected by the 7th of November 2021. There are approximately 775 soils to be collected to finish the present campaign, see Figure 5.

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Figure 2: Soil sampling progress at Roberts Arm as of the 7th Nov, 2021

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Figure 3: Soil sampling progress at Leamington Arm as of the 7th Nov, 2021

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Figure 4: Soil sampling progress at Hodges Hill as of the 7th Nov, 2021

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Figure 5: Soil sampling progress at Startrek as of the 7th Nov, 2021

Exploration programs will continue to progress throughout the remainder of Q4 and into the new year. Updates regarding drilling campaigns will be provided in the coming weeks.

National Instrument 43-101 Disclosure

Dr. Paul David Robinson, P. Geo, is a qualified person as defined by National Instrument 43-101. Dr. Robinson supervised the preparation of the technical information in this news release.

About Leocor Gold Inc.

Leocor Gold Inc. is a British Columbia-based resource company involved in the acquisition and exploration of precious metal projects, with a current focus in Atlantic Canada. Leocor, through outright ownership and earn-in agreements, currently controls several gold-copper projects in prime exploration ground located within the prolific Baie Verte Mining District. Leocor's Bae Verte portfolio includes the Dorset, Dorset Extension, Copper Creek and Five Mile Brook projects, creating a contiguous nearly 2,000 hectare exploration corridor. The Company also controls the 6,847-ha grassroots Startrek project near Gander, as well as three district scale land packages in North Central Newfoundland, known as Robert's Arm, Hodge's Hill, and Leamington, (collectively "Western Exploits") representing over 144,000 hectares (1,440 square kilometers) of prospective exploration

Contact Information

Leocor Gold Inc.

Alex Klenman, Chief Executive Officer

Email : aklenman@leocorgold.com

Telephone : (604) 970-4330

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statements Regarding Forward-Looking Information

This press release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding the terms and conditions of the Option. Although Leocor believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.

Forward looking information is typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "postulate" and similar expressions, or are those, which, by their nature, refer to future events. Leocor cautions investors that any forward-looking information provided by Leocor is not a guarantee of future results or performance, and that actual results may differ materially from those in forward looking information as a result of various factors, including, but not limited to: the agreement of the parties to proceed with the proposed transaction on the terms set out in the Option Agreements or at all; Leocor's ability to exercise the Options; the state of the financial markets for Leocor's securities; the state of the natural resources sector in the event the Option, or any of them, are completed; recent market volatility; circumstances related to COVID-19; Leocor's ability to raise the necessary capital or to be fully able to implement its business strategies; and other risks and factors that Leocor is unaware of at this time. The reader is referred to Leocor's initial public offering prospectus for a more complete discussion of applicable risk factors and their potential effects, copies of which may be accessed through Leocor's issuer page on SEDAR at www.sedar.com.

The forward-looking statements contained in this press release are made as of the date of this press release. Leocor disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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