Loncor Gold Reports Multiple Wide High Grade Gold Intersections at its Drill Program at Adumbi

Loncor Gold Inc. is pleased to announce encouraging drilling results from its deep drilling program at the Company’s 3.66 million ounce Adumbi deposit where an indicated mineral resource of 1.88 million ounces of gold (28.185 million tonnes grading 2.08 g/t Au), and an inferred mineral resource of 1.78 million ounces of gold (20.83 million tonnes grading 2.65 g/t Au) have already been delineated within a USD1,600/oz open pit shell.  Borehole LADD027 intersected 16.07 metres grading 5.82 grammes per tonne (g/t) gold (including 11.85 metres grading 7.14 g/t gold), 22.64 metres grading 4.77 g/t gold (including 13.97 metres grading 6.99 g/t gold) and 0.45 metres grading 26.94 g/t gold (see Table and Figure 1 below).

Significant mineralized sections for borehole LADD027 are summarised in the table below:

Note:  It is estimated that the true width of the mineralised sections for core hole LADD027 is 77% of the intersected widths in the above table.  Regular measurements of inclination and azimuth were taken at 30 metre intervals down the hole and all the core was orientated.  All intercepted grades are uncut with maximum internal dilution equal to or less than 4 metres of intersected width.

Commenting on these latest drilling results, Loncor CEO John Barker said: “Hole LADD027 was situated in the northwest of the Adumbi deposit and intersected the mineralization at a vertical depth of 478 metres below surface, and 75 metres below the previously outlined USD1,600/oz pit shell. When combining these results with prior deeper holes in proximity, we are excited by the high grades over excellent widths that have been recorded. The combination continues to offer significant potential for an underground operation to complement the open pit at Adumbi.  Drilling continues and we expect further results in March.”

Quality Control and Quality Assurance

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.