Loncor hits significant intercepts at depth – complementing previous results

We received from John K. Barker Chief Executive Officer Loncor Gold In cand we are glad to publish the following press release:

“Loncor Gold has just announced further drill results from below the 3.66M oz, high grade resource at Adumbi, 220kms from the Barrick controlled Kibali Gold Mine – Africa’s largest gold mine. Ongoing drilling aims to push the resource through 5 M ozs, while continuing to offer encouragement regarding the potential for an underground operation to complement the significant 2.2g/t open pit potential already outlined.

Details of the diamond drill results – LADD030, can be seen on the attached press release, plus the table and section below. It represents an “infill hole”, at a vertical depth of 643m below surface.  The results are similar to a number of previous holes and continue to reflect positively on the potential for Adumbi to move underground at some stage in the future.

These positive results have been released with the backdrop of the Board creating a Special Committee in response to an unsolicited, confidential nonbinding offer received from an interested party for a potential transaction. – see the news release of 14th July, 2025.

Furthermore, the DRC, largely due to a “transactional’ Peace initiative driven by President Trump has had a growing focus from investors outside of China, with a particular interest on the potential of the country’s vast mineral endowment.

Loncor – with an Enterprise Value per ounce of around US$19/oz and a December 2021 Preliminary Economic Assessment that suggests the current market cap represents around 5% of the underlying after tax PEA valuation (at 5% NPV, assuming current metal prices) – continues to drill to further outline the potential at Adumbi.

Regards,

John

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Significant mineralized sections for borehole LADD030 are summarized in the table below:

Borehole Number	From (m)	To (m)	Intersected Width (m)	Grade (g/t) Au
LADD030	693.73	696.10	2.37	2.51
LADD030	718.70	726.43	7.73	2.26
LADD030 including	718.70	724.06	5.36	2.98
LADD030	751.80	763.23	11.43	1.77
LADD030	791.25	797.86	6.61	4.56
LADD030 Including	791.25	796.86	5.61	5.24

Note:  It is estimated that the true width of the mineralised sections for core hole LADD030 is approximately 80% of the intersected widths in the above table.

Chief Executive Officer

Loncor Gold Inc

(LN.TSX; LONCF.OTCQX; LO5.FSE)”

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