Newcore Gold Announces Proceeds of $3.8 Million from Warrant Exercises

Core Insights - Newcore Gold Ltd. has raised approximately $3.8 million from the exercise of 9,558,578 common share purchase warrants, which expired on September 26, 2025, with an exercise price of $0.40 [1][2] - The company has a cash balance of approximately $10.1 million, which will support a 35,000-metre drill program and development work for the Enchi Gold Project, aiming for a Pre-Feasibility Study in H1 2026 [2][3] - Newcore Gold's leadership is aligned with shareholders, holding approximately 15% equity ownership, and is focused on advancing the Enchi Gold Project located in Ghana [2][3] Financial Overview - The exercise of the warrants has resulted in a total of 262,986,096 common shares issued and outstanding, with additional dilutive securities including 9,475,000 stock options and 20,423,000 common share purchase warrants at an exercise price of $0.50, expiring on February 27, 2026 [2] - If the additional tranche of warrants is fully exercised, it could provide approximately $10.2 million in funding for ongoing drilling and development at the Enchi Gold Project [2] Project Development - The Enchi Gold Project is located in Ghana, which is Africa's largest gold producer, and covers a 248 km land package along the Bibiani Shear Zone, known for hosting several multi-million-ounce gold deposits [3] - The company is currently conducting a drill program that includes exploration drilling to depth and development work to support a Pre-Feasibility Study scheduled for next year [2][3]