Leocor Gold Inc. announced the results of 2021 exploration on the previously unexplored Hodges Hill Property within the Exploits Project, Newfoundland. The 2021 exploration program consisted of soil sampling, LiDAR surveys, and airborne magnetic-VLF surveys and identified a series of soils anomalies, up to 1081.5 ppb Au, over 12 newly identified target areas. Follow up work on the results including geologic mapping, prospecting, and grid soil sampling is underway with a purpose of identifying high priority targets for drill testing.

Reconnaissance grid soils were collected across the Hodges Hill property as an initial assessment of the area. The soils were primarily collected on small grids with 25m spaced samples and 100m to 200m spaced lines, and targeted C-horizon material with individual sample depths ranging from surface/outcrop to 110cm. Assays for the samples return values from trace to 1018.5ppb Au with 25 samples returning >50 ppb Au and highlight 12 new target areas.

Additional work on the project included LiDAR surveys and airborne magnetic-VLF surveys. Based on regional geology and magnetic surveys most of the anomalous targets fall within discreet magnetic lows interpreted as structures within and along the margins of large body of pyroxene gabbro. Gabrro has long been recognized as being directly associated with gold mineralization in the Baie Verte area such as Anaconda Mines Pine Cove deposit and more recently, the discovery (2014) by Anaconda of the Stog'er Tight and Argyle showings.

Additionally, the Geological Survey of Canada (Open File 8658) specifically note the importance of the brittle nature gabbro-tonalite-granodiorite bodies within Marathon Gold's Valentine Lake deposits; 124km to the SW. Follow up work on the newly defined targets is underway and includes geologic mapping, prospecting, and grid soil sampling with a purpose of identifying high priority targets for drill testing. Hodges Hill is located 12 km north of the community of Badger along the Trans Canada Highway.

The property consists of 9 mineral licences for a total of 1562 claims covering 39,050 hectares or 390 square km. Forestry roads run through 8 of the 9 licenses. The projects cover a large body of pyroxene gabbro that is cut by a series of major regional NE and NNW structure outlined by the regional NFLD airborne magnetics.

This package presents a unique opportunity to evaluate the Hodges Hill gabbro. Gabbro's have long been recognized as being directly associated with gold mineralization in the Baie Verte area such as Anaconda Mines Pine Cove deposit and more recently the discovery (2014) by Anaconda Mining of the Stog'er Tight and Argyle showings. Recent research conducted by the Geological Survey of Canada (Open File 8658) specifically indicates how the brittle nature of the gabbro-tonalite-granodiorite body (Crippleback intrusive suite) that underlies the Wildling Lake showing and Marathon's Valentine Lake Gold Project and which Hodge's Hill is associated with, makes a highly prospective target for gold deposition.

The soils samples for the program are prepared at Eastern Analytical Laboratories. Samples are dried at 60 degrees Celsius and sieved to -80 mesh. The pulps are air couriered shipped to Bureau Veritas Labs in Vancouver, British Columbia.

The pulps are analyzed with the AQ201+U method, dissolving 15 grams in Aqua Regia and analyzed for 37 elements by ICP-MS technique. All rock, GT Probe, and RAB samples will be prepared and analyzed by ALS Global Laboratories of Moncton, NB. The entire sample will be crushed to 70% passing -2 mm and then splitting off and pulverizing a 250-gram split to 85% passing -75 microns.

A 0.5 gram cut of the pulp will be analyzed by ME-ICP41, an aqua regia digestion followed by ICP-AES analysis for 35 elements. Gold will be analyzed for by AA-AU23 using a 30-gram charge for a standard fire assay with an AA finish. If Au results were >10 g/t a second 30-gram charge will be used for a standard fire assay with a gravimetric finish.

The reported work will be completed using industry standard procedures, including a quality assurance/quality control ("QA/QC") program consisting of the insertion of certified standard, blanks and duplicates into the sample stream. The project was introduced to Leocor by prolifically successful prospector Shawn Ryan who now acts as a technical advisor to the Company. Three contiguous projects represent a 144,000-hectare (355,832-acre) land package in the heart of Newfoundland.

The Robert's Arm, Leamington and Hodge's Hill prospective exploration lands cover numerous geologically favorable corridors conducive to gold mineralization across 5,760 mineral claims covered by 37 licenses. The claims are host to distinct magnetic high units (Gabbro's) in settings indicative of known regional gold occurrences. Named after Gabbro, a hamlet near Rosignano Marittimo in Tuscany, these rocks are associated with continental volcanism, a region-specific gold target indicator.