Newcore Gold Announces Director Resignation

VANCOUVER, Aug. 10, 2023 - Newcore Gold Ltd. ("Newcore" or the "Company") (TSX-V: NCAU, OTCQX: NCAUF) announces today that Mr. Edward Farrauto has tendered his resignation as a director of the Company, effective immediately, to focus on his other professional commitments. Mr. Farrauto has been a director of the Company since January 18, 2010.

Doug Forster, Chairman of Newcore stated, "We would like to thank Ed for his valuable contributions as a director to the company throughout his tenure. On behalf of the Board of Directors and management, I wish him all the best with his future endeavours and look forward to his continued support as a shareholder."

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 20% equity ownership, and prime district scale exploration opportunities. Enchi's 216 km² land package covers 40 kilometres of Ghana's prolific Bibiani Shear Zone, a gold belt which hosts several 5 million-ounce gold deposits, including the Chirano mine 50 kilometers 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 2022 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.