Leocor Mining Inc. Announces Closing of Rights Offering

Leocor Mining Inc. announces the closing of its previously announced rights offering which expired on August 20, 2026. At closing, the Company issued 250,212,402 common shares of the Company at a price of $0.01 per Share for total gross proceeds of approximately $2,502,124.02. The Company received subscriptions for 223,732,607 Shares pursuant to the basic subscription privilege and 26,479,795 Shares pursuant to the additional subscription privilege. The Company also issued 7,500,000 non-transferable bonus Share purchase warrants to each of Game 7 Investments Inc. and Zimtu Capital Corp. pursuant to the Company’s Rights Offering Standby Guaranty Agreement dated July 21, 2026 with Standby Guarantors entitling them to purchase up to a total 7,500,000 Shares, being 10% of the total number of Shares the Stand-By Guarantors have committed to purchase, at a price of $0.05 per Share for a period of 5 years. The total number of issued and outstanding common shares of the Company upon completion of the Rights Offering will be 500,424,804. To the knowledge of the Company, after reasonable inquiry, directors, officers, employees and insiders of the Company purchased 46,955,083 Shares under their basic subscription privilege for an aggregate of 46,955,083 Shares purchased under the Rights Offering, representing total subscription proceeds of $469,550.83. The amount of Shares purchased by insiders under the additional subscription privilege is not known at this time but is not expected to be substantial. To the knowledge of the Company, after reasonable inquiry, no person became a new shareholder holding more than 10% of the Shares upon closing of the Rights Offering. The participation in the Rights Offering by certain “related parties” of the Company, namely, directors, officers and 10% shareholders of Company, constitutes a “related party transaction”, as such terms are defined by Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (“ MI 61-101 ”). The Company is relying on an exemption from the formal valuation and minority approval requirements of MI 61-101 as the fair market value of the participation in the Rights Offering does not exceed 25% of the market capitalization of the Company. There were no selling fees or commissions paid in connection with the Rights Offering distribution, other than to the Standby Purchasers. The net proceeds of the Rights Offering will be used in the manner disclosed in the rights offering circular of the Company dated July 21, 2026, a copy of which is available on SEDAR+ under the Company’s profile at www.sedarplus.ca.