Leocor Mining Mails Meeting Materials in Connection with Plan of Arrangement

(TheNewswire)

Vancouver, British Columbia(May 4,2026) – TheNewswire– Leocor MiningInc. (CSE: LECR, OTCQB: LECRF, Frankfurt: LGO0)(“Leocor” or the “Company”)is pleased to announce,  further to its news releases dated April 9, 2026 and April15, 2026, that it has mailed its managementinformation circular (the “Circular”) and related proxy materials (the“MeetingMaterials”) to holders (“Shareholders”) ofcommon shares of the Company (“Leocor Shares”) in connection with theannual general and special meeting of Shareholders to be held at 10:00a.m. (Pacific Time) on June 3, 2026 (the “Meeting”). TheMeeting Materials are being mailed to Shareholders of record as ofApril 17, 2026 (the “RecordDate”).

At the Meeting, Shareholders will be asked to consider,and if deemed advisable, approve, among other things, the Company’spreviously announced court-approved plan of arrangement (the“Arrangement”) under Division 5 of Part 9 of the Business Corporations Act (British Columbia), pursuant to which the Company willeffect a distribution (the “Distribution”) of up to all of its17,647,058 common shares of Intrepid Metals Corp. (TSXV: INTR)(“Intrepid”), representing approximately 15.09% of the issued andoutstanding Intrepid shares as of the date hereof, to Shareholders ona pro rata basis. Pursuant to the Arrangement, each existing LeocorShare will be exchanged for: (i) one new common share of Leocor havingthe same attributes as the existing Leocor Shares; and (ii) a pro rataentitlement to the Intrepid shares to be distributed, based on anexchange ratio to be determined at the date of closing of theArrangement and announced at that time. Shareholders will also beasked to approve customary annual general meeting matters.

Shareholders of record at the effective time of theArrangement will be entitled to receive their pro rata portion ofIntrepid shares pursuant to the Distribution. This entitlement isseparate from, and not determined by, the Record Date established forthe Meeting.

On May 1, 2026, the Company obtained an interimorder of the Supreme Courtof British Columbia (the “Court”) providing for the calling andholding of the Meeting and other procedural matters related to theArrangement.

The Circular contains, amongother things, details concerning the Arrangement and the Distribution,the background to and reasons for the favourable recommendation of theBoard of Directors, the requirements for the Arrangement to becomeeffective, procedures for voting at the Meeting and other relatedmatters. Shareholders are urged to carefully review the Circular andaccompanying materials as they contain important information regardingthe Arrangement and its consequences to Shareholders. A copy of theCircular and related proxy materials is available under theCompany’s SEDAR+ profile at www.sedarplus.ca.

The Board of Directors ofLeocor recommends that Shareholders vote FORthe Arrangement.

Shareholder Questions

Shareholders who would like additional copies, withoutcharge, of the Circular or have additional questions about theArrangement, including the procedures for voting or completingtransmittal documents, should contact Alex Klenman, Chief ExecutiveOfficer, at aklenman@leocorgold.com or (604) 970-4330.

About Leocor Mining Inc.

Leocor Mining Inc. is a British Columbia-based resourcecompany involved in the acquisition and exploration of precious metalprojects, with a current focus in Atlantic Canada. Leocor, through outright ownership and earn-in agreements,currently controls several gold-copper projects in prime explorationground located within the prolific Baie Verte Mining District. Leocor’s Bae Verteportfolio includes the Dorset, DorsetExtension, Copper Creek and Five Mile Brookprojects, creating a contiguous ~2,000-hectare explorationcorridor. For more information, sign up fornews alerts, watch ourcorporate video, or viewour presentation at ourwebsite.

Contact Information

Leocor Mining Inc.

Alex Klenman, Chief Executive Officer
Email: aklenman@leocorgold.com
Telephone: (604) 970-4330

Neither theCanadianSecurities Exchange nor itsRegulation Services Provider (as that term is defined in the policies of the CanadianSecurities Exchange) accepts responsibility for the adequacy oraccuracy of this release. No stock exchange, securities commission orother regulatory authority has approved or disapproved the informationcontained herein.

Cautionary Statements RegardingForward-Looking Information

This press release contains forward-looking informationwithin the meaning of Canadian securities laws. Such informationincludes, without limitation, statements regarding the proposed Distribution, the Arrangement, the anticipatedtiming and holding of the Meeting, the anticipated receipt of shareholder approvals, and the number of Intrepidshares to be distributed. Forward-looking information is generallyidentifiable by use of words such as “anticipates”, “expects”,“proposes”, “believes”, “plans”, “intends”,“estimates”, “will”, “may” or similar expressions.Although Leocor believes that such information is reasonable, it cangive no assurance that such expectations will prove to becorrect.

Forward-looking statements are necessarily based upon anumber of estimates and assumptions that, while considered reasonableby the Company as of the date of this press release, are subject toknown and unknown risks, uncertainties, andother factors which may cause the actual results and future events todiffer materially from those expressed or implied by suchforward-looking statements. Such factors include, but are not limitedto: general business, economic, competitive,political and social uncertainties; uncertain and volatile capitalmarkets; delay or failure to receive shareholder, court or regulatoryapprovals required to complete the Arrangement; the risk that theArrangement may not be completed on the anticipated timeline or atall; changes in the market price of Intrepid shares; the finaldetermination of the tax treatment of the Distribution; the finalnumber of Intrepid shares to be distributed; and other risks anduncertainties described in the Company’s public filings. There canbe no assurance that such forward-looking statements will prove to beaccurate, as actual results and future events could differ materiallyfrom those anticipated in such statements. Accordingly, readers shouldnot place undue reliance on forward-looking statements. The Companydisclaims any intention or obligation to update or revise anyforward-looking statements, whether as a resultof new information, future events or otherwise, except as required bylaw.

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