Precore Gold launches up to C$6 million private placement

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VANCOUVER, British Columbia, Aug. 20, 2026 (GLOBE NEWSWIRE) -- Precore Gold Corp. (CSE: PRCG) (the " Company " or " Precore Gold ") is pleased to announce that it intends to conduct a non-brokered private placement (the " Offering ") through the issuance of up to 30,000,000 units (the " Units ") of the Company at a price of C$0.20 per Unit for the gross proceeds of up to C$6,000,000. Each Unit will consist of one common share in the capital of the Company (each, a " Common Share ") and one-half of one common share purchase warrant (each whole common share purchase warrant, a " Warrant "). Each Warrant will entitle the holder to acquire one additional Common Share at an exercise price of C$0.28 for a period of two years from the date of issuance. The Warrants contain an acceleration clause whereby the Company may accelerate the expiry of the Warrants to a date that is thirty (30) days following the date upon which the Common Shares trade at a 30-day volume-weighted average trading price exceeding C$0.70 per Common Share. The proceeds from the Offering will be used to fund exploration work and for general working capital purposes.

Argonaut Securities Pty Limited which is part of Argonaut Limited (" Argonaut ") and its clients will be permitted to participate as cornerstone investors in the Offering, for a total of $4,000,000.

In connection with the Offering, the Company may pay Argonaut (i) a cash fee equal to 6% of the gross proceeds received from subscribers sourced by Argonaut, and (ii) warrants equal to 6% of the number of Common Shares issued in connection with the subscribers sourced by Argonaut (each such warrant, a " Finder Warrant "), with each Finder Warrant entitling the holder thereof to purchase one Common Share at an exercise price of C$0.28 per share for a period of 24 months following the closing of the Offering. The Company may also pay finder's fees or commissions to other parties in respect of subscriptions from purchasers identified by the Company, including subscriptions of up to C$2,000,000 sourced under a president's list.

Argonaut Corporate Finance Limited, an affiliate of Argonaut, is acting as financial advisor to the Company in connection with the Offering. Pursuant to an advisory engagement letter, Argonaut is entitled to receive from the Company: (i) a monthly advisory fee of C$5,000 for an initial term of twelve (12) months; and (ii) 1,500,000 options of the Company (the " Advisory Options "), with each Advisory Option entitling Argonaut to acquire one Common Share at an exercise price of C$0.28 per Common Share for a period of two (2) years from the date of grant.

All securities issued and issuable pursuant to the Offering will be subject to a statutory hold period in Canada of four months plus one day from the date of issuance in accordance with applicable Canadian securities legislation.

The securities to be issued pursuant to the Offering have not been, nor will they be, registered under the United States Securities Act of 1933 , as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.

About Argonaut Securities Pty Limited

Argonaut has raised ~A$3.6bn in natural resources in the last twelve months. Its advisory and equity capital markets business is underpinned by extensive institutional relationships, well-respected research coverage and strong financial and technical in-house capabilities.

About Precore Gold Corp.

Precore Gold is a Canadian junior gold exploration company focused on building a solid portfolio of exploration projects with strong gold discovery potential, in order to capture the strength of the gold market and to generate long-term shareholder returns. The Company is focused on its flagship properties, the Arikepay property in Arequipa, Peru and the Lac Big-Rush property in Chibougamau, Quebec. The Company plans to seize opportunities whereby promising properties are located in prolific mining camps, in politically stable jurisdictions, that contain important historical drilling results that have not seen any follow-up work in years. Precore Gold's mission is underpinned by diligent environmental, social and corporate governance (ESG) standards.

For shareholder inquiries, please contact:

Paul A. Dumas, Executive Chairman Email: investor@precoregold.com Tel: 514-994-1069

www.precoregold.com

Forward Looking Statements

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "potential", "feasibility", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains forward-looking information pertaining to, among other things: the ability of the Company to complete the Offering on the terms contemplated (if at all); the size of the Offering; the closing date of the Offering; the jurisdictions in which the Units will be offered or sold; the ability of the Company to obtain the conditional and final approval of the CSE; the anticipated use of proceeds of the Offering; the ability of the Company to unlock the full potential of its assets and achieve success; the ability of the Company to create value for its shareholders; and the advancement of the Arikepay property and the Lac Big-Rush property.

Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including, without limitation, assumptions about: the ability of exploration results, including drilling, to accurately predict mineralization; errors in geological modelling; insufficient data; equity and debt capital markets; future prices of gold; the timing and results of exploration and drilling programs; the accuracy of mineral resource estimates; production costs; political and regulatory stability; the receipt of governmental and third party approvals; licenses and permits being received on favourable terms; sustained labour stability; stability in financial and capital markets; availability of mining equipment and positive relations with local communities and groups. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company's public disclosure record on SEDAR+ ( www.sedarplus.ca ) under Precore Gold's issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

GlobeNewswire

August 20, 2026 - 1:08 PM PDT

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