Loncor Gold Inc. announced that its priority exploration target below the Adumbi USD 1,600/oz pit shell is estimated be in a range from 8.9 million tonnes to 9.6 million tonnes grading from 4.7 g/t Au to 4.9 g/t Au below USD1,600/oz pit shell. The Adumbi resource remains open at depth below the USD1,600 pit shell (maximum depth of pit shell
bottom 550 metres below surface), with the Company's estimates of the potential underground exploration
target suggesting it could contain between 8.9 million tonnes to 9.6 million tonnes grading 4.7 g/t Au to 4.9
g/t Au to a depth of 800 metres. These potential quantities and grade are conceptual in nature as there has
been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result
in the Adumbi underground exploration target being delineated as a mineral resource. The gold mineralisation below the USD1,600 pit shell at Adumbi is considered Loncor's principal
"exploration target" to generate additional mineral resources. Near the bottom of the pit and below the pit
shell, eleven core holes have been drilled which demonstrate that the favourable gold mineralised Banded
Ironstone Formation ("BIF") host is thickening at depth below the pit shell with grades and thicknesses
potentially amenable to underground mining. Drill cores for assaying were taken at a maximum of one-metre intervals and were cut with a diamond saw,
with one-half of the core placed in sealed bags by Company geologists and sent to the Company's on-site
sample preparation facility. The core samples were then crushed down to 80% passing minus 2 mm and
split with one half of the sample up to 1.5 kg pulverized down to 90% passing 75 microns. Approximately
150 grams of the pulverized sample was then sent to the SGS Laboratory in Mwanza, Tanzania
(independent of the Company). Gold analyses were carried out on 50g aliquots by fire assay. In addition,
check assays were also carried out by the screen fire assay method to verify high-grade sample assays
obtained initially by fire assay. As part of the Company's QA/QC procedures, internationally recognized
standards, blanks and duplicates were inserted into the sample batches prior to submitting to SGS
Laboratory.