Leonor Acquiring Copper Creek And Five Mile Brook Gold Projects

VANCOUVER - Leocor Gold Inc. has entered into an option agreement with Lai Lai Chan, pursuant to which Leocor has the option to acquire a 100% interest in the Copper Creek and Five Mile Brook projects located north-central portion of the Baie Verte Peninsula, Newfoundland. The acquisition of the Five Mile Brook (350 hectares) and Copper Creek claims (1025 hectares) brings the total of Leocor Gold's holdings on The Baie Verte Peninsula to 1,650 hectares. These two additions give Leocor a near contiguous land package.

CEO, Alex Klenman, said, “These are strategically significant acquisitions for Leocor. With these additions we've grown our footprint by approximately 600% in one of the most prolific mining districts in Canada. The area is well known for gold, copper and base metal deposits. The popularity of Newfoundland as a mining district in general has grown substantially in recent times thanks to high-profile discoveries and transactions. We are pleased to be able to expand our operations there and plan on conducting some considerable exploration work on the new ground, as well as the Dorset project, in the coming months.”

The Baie Verte Peninsula represents one of the more productive and historical gold and base metal mining districts in Canada. The former Terra Nova base metal mine - one of several copper mines of the region, which operated during the late 1880's to early 1900's - lies 200 meters west of Leocor's Copper Creek claims. Former gold mining operations in the area include the Goldenville mine (of 1903-1906), located 8 km NE of the property, and the more recent Nugget Pond mine (1997-2000) of the eastern Baie Verte Peninsula area. Currently producing mines in the area include the Rambler base metal-gold mine (1961-present), located 14 km ESE of Baie Verte, and the Pine Cove and Stogertite mines (collectively, 2011-present) located 1.6 km and 5.4 km NE of the current property.

Copper Creek'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.

Historical results at Copper Creek include 3.9 grams-per-tonne ("g/t") gold ("Au") over 4 meters in a channel sample, and 16 g/t Au, 11.35 g/t Au, 9.20 g/t Au, 8.23 g/t Au, 7.33 g/t in grab samples* (Noranda, 1988; Anaconda Mining 2004; Chan 2013). Five Mile Brook has been subject to minimal exploration in the past but shows potentially important geological continuity to the Company's Dorset Gold Project, which lies directly contiguous to the northern boundary.