BAIE VERTE DISTRICT

OVERVIEW

A ~2,000-ha land package containing multiple gold occurrences and mineralized zones surrounded by active mine operations.

Located in North Central Newfoundland, Canada the Leocor holdings consist of the Dorset, Dorset Extension, Five Mile Brook and Copper Creek projects. The district extends on-trend across a highly structured and defined part of this mineral rich region.

Surrounded by mine operators, developers and explorers such as FireFly metals (ASX: FFM), Signal Gold (TSX: SGNL), Sokoman Minerals (TSX-V: SIC), Newfound Gold Corp (TSX.V: NFG), Golden Planet Mining Corp., Vulcan Minerals Inc., and others, this is a mining-friendly region originally opened up by Noranda Mines.

Dorset Gold Project

DORSET GOLD PROJECT
iNTRODUCTION

The Dorset Gold Project is a 600-hectare project area containing multiple gold occurrences and mineralized zones, located just south of the Pine Cove Gold Mine in North Central Newfoundland on the Baie Verte Peninsula

Leocor Gold holds a 100% interest in the project which includes the ground between and adjacent to the Company’s central Dorset Gold Project and The Copper Creek project to form a contiguous land package.

The Dorset Project is our flagship exploration target within this District with abundant historical data and two significantly mineralized quartz veins with extensive surface showings.

DORSET GOLD PROJECT
Drill Program

The Dorset project is highly prospective for high-grade gold zones and the 2025 drill program will be designed to test some of the priority zones within a prominent 1 x 2 km gold-in-soil anomaly originally delineated by Leocor in 2022.

Drill targets have been finalized (see Figures 1 and 2) for the January 2025 drill program which includes both the Copper Creek and Dorset claims within the larger Baie Verte project area.

Multiple drill holes at Copper Creek will target areas of known mineralization with both favorable structures and positive geochemical attributes. At Dorset, the targets are concentrated in areas where the Company intersected significant gold results in its 2022 drill campaign. Drilling is anticipated to begin in January subject to weather conditions and drill permit approval.

Leocor’s geological team, led by Resourceful Geosciences, and the dill crew (Rally Drill Services), will be conducting the drill program under the supervision of David Murray, P. Geo, president of Resourceful Geosciences.

Figure 1: Proposed drill targets, Copper Creek claims, Baie Verte Project, NW Newfoundland

Figure 2: Proposed drill targets, Dorset claims, Baie Verte Project, NW Newfoundland

Highlights from the 2022 Rotary Air Blast (“RAB”) drill program* include:

Sharpie Ridge Target: 2.32 grams-per-tonne (“g/t”) gold (“Au”) over 10.67m; including 10.2 g/t Au over 1.52m. New target that is open along strike and at depth.
Braz NE Target: 3.18 g/t Au over 4.57m from surface. New target that is open along strike and at depth.
Dorset Main Target: 1.41 g/t over 7.62m. Confirming geometry of the mineralized zone.

* See Leocor News Release dated December 1, 2022.

Figure 3: Fall 2022 drill locations, Dorset claims, Baie Verte Project, NW Newfoundland

Figure 4: soil anomalies, Dorset claims, Baie Verte Project, NW Newfoundland

DORSET GOLD PROJECT
History

Dorset gold mineralization is hosted by three subparallel, NE-trending quartz lode vein systems.

The Main Zone includes three historic occurrences, with up to 409 grams-per-tonne (“g/t”) gold (“Au”) in grab samples, with channel sampling results of 177 g/t Au over 0.35m, 22 g/t Au over 1.5m, 17.2 g/t Au over 1.5m, and 14.7 g/t Au over 1.5m. Historic drilling includes 9.5 g/t Au over 1.3m (MacDougall, 1990).

Historic select sampling at the Braz Zone returned values of 314 g/t Au, 40 g/t Au, 31.4 g/t Au, 21.2 g/t Au, 19.2 g/t Au, and 14.8 g/t Au. Historic channel sampling across the vein, returned 9.5 g/t Au over 0.4m; 5.7 g/t Au over 0.5m and 1.2 g/t Au over 0.65m. Weighted averages of historic rock sampling encompassing vein and mineralized wall rock returned values of 5.8 g/t Au over 1.9m; 3.1 g/t Au over 2.0m and 2.5 g/t Au over 1.5m (MacDougall, 1990).

DORSET GOLD PROJECT
Historic results

DORSET GOLD PROJECT
Soil Samples

Copper Creek Project

COPPER CREEK PROJECT
iNTRODUCTION

Located in the north-central portion of the Baie Verte Peninsula, Copper Creek extends to within 1.6 km of the active Pine Cove gold mine.

The project’s southwestern section is host to a number of gold prospects and copper occurrences associated with extensive alteration/shear zones developed within a thrust-faulted sequence of quartz-Fe-carbonate-fuchsite-altered gabbros, ultramafics and mafic volcanics, of the Advocate (ophiolite) Complex, and intermediate to silicic volcaniclastics & tuffs and microgabbroic dykes/sills, of the Flatwater Pond (cover sequence) Group.

COPPER CREEK PROJECT
Historic results

Previous assay results on the property include a channel sample of 3.9 g/t Au over 4m,* and 16 g/t Au* grab samples, in addition to 7.33 g/t Au** at the Biarritz North showing.
Historic sample assays at the Biarritz South prospect includes 9.2 g/t Au & 4.05 g/t Au,* in addition to sampling conducted by Anaconda (2004) and Chan (2013-2019) that collectively returned assays of 11.35 g/t, 3.08, g/t & 1.33 g/t Au.
The Tidewater and Powderhouse showings produced grab samples of 8.23 g/t Au & 2.71 g/t Au respectively.*

* Noranda ** Chan 2013
Grab samples mentioned in this presentation are selective by nature and are unlikely to represent average grades of the property.

COPPER CREEK PROJECT
Soil Samples

Five Mile Brook Project

FIVE MILE BROOK PROJECT
iNTRODUCTION

The Five Mile Brook project consists of a single mineral license (25481M), comprised of 8 claims contiguous to the Dorset Gold Project.

FIVE MILE BROOK PROJECT
Historic results

Prior to the mid-1980’s, the only recorded exploration work for the Five Mile Brook project consisted of a reconnaissance work by Consolidated Rambler Mines Ltd,
in 1976, along the western claim boundary area.

Three non-contiguous samples returned assays of: 1.63% Cu, 0.56 g/t Au, 226 g/t Ag & 0.28% Zn over 0.61 m; 0.32% Cu, 0.51 g/t Au & 3005 g/t Ag over 0.61 m; and 0.49% Cu, 0.62 g/t Au, 226 g/t Ag & 0.18 % Zn over 7.62 m (Collins, 1976).