• Results from hole LADD026 reported 22.03 metres grading 5.11 g/t gold (including 14.70 metres grading 7.19 g/t gold) and 11.20 metres grading 4.93 g/t gold

 Loncor Gold Inc. ("Loncor" or the "Company") (TSX: "LN"; OTCQX: "LONCF"; FSE: "LO51") is pleased to announce assay results from its drilling program within its 84.68%-owned Imbo Project in the eastern part of the Ngayu greenstone belt in the Democratic Republic of the Congo. The final borehole of this year’s drilling program, borehole LADD026 drilled at its Adumbi deposit intersected 22.03 metres grading 5.11 grammes per tonne (g/t) gold (including 14.70 metres grading 7.19 g/t gold), 11.20 metres grading 4.93 g/t gold, 4.83 metres grading 2.51 g/t gold and 6.50 metres grading 2.36 g/t gold (see Figures 1, 2 and 3 below).

Significant mineralized sections for borehole LADD026 are summarised in the table below:

Note:   It is estimated that the true width of the mineralised sections for core hole LADD026 is 74% 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. The maximum grade intercept was 19.80 g/t Au over 0.63 metres.

Commenting on these latest drilling results, Loncor President Peter Cowley said: “This core hole was situated below the open pit shell in the northwest of the Adumbi deposit and intersected the mineralization at a vertical depth of 480 metres below surface. These results with high grades over significant widths further demonstrate the underground resource potential below the pit shell as well as excellent continuity of the mineralised, banded ironstone formation (“BIF”). The gold mineralization at Adumbi is directly related to the chemical and physical properties of the BIF host rock and Figure 3 shows that the mineralized BIF is increasing in thickness with depth. Drilling has now been completed for this year with the immediate focus now being ongoing metallurgical, processing, mining, infrastructural, environmental and financial studies in order to complete the Preliminary Economic Assessment (PEA) by year end. As part of the PEA, an updated resource within the pit shell is being undertaken with the aim of maximising the available in pit ounces and converting a sizeable percentage of the existing inferred resource into the indicated category.”

Quality Control and Quality Assurance re Adumbi Deposit Drill Results
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.

Qualified Person
Peter N. Cowley, who is President of Loncor and a "qualified person" as such term is defined in National Instrument 43-101, has reviewed and approved the technical information in this press release.

Figure 1: Adumbi Deposit Longitudinal Section Looking Northeast with Drill Hole Grade (g/t) x True Thickness (Metre) Product Contours

Figure 2: Geological Cross Section A-B Through Borehole LADD026

Figure 3: Adumbi Longitudinal Section Highlighting Increased Thickness of the Mineralized Banded Ironstone (BIF) Host Rock with Depth

Technical Reports
Additional information with respect to the Company’s Imbo Project (which includes the Adumbi deposit) is contained in the technical report of Minecon Resources and Services Limited dated April 27, 2021 and entitled "Updated Resource Statement and Independent National Instrument 43-101 Technical Report, Imbo Project, Ituri Province, Democratic Republic of the Congo". A copy of the said report can be obtained from SEDAR at www.sedar.com and EDGAR at www.sec.gov.

Information with respect to the Company’s Makapela Project, and certain other properties of the Company in the Ngayu gold belt, is contained in the technical report of Venmyn Rand (Pty) Ltd dated May 29, 2012 and entitled "Updated National Instrument 43-101 Independent Technical Report on the Ngayu Gold Project, Orientale Province, Democratic Republic of the Congo". A copy of the said report can be obtained from SEDAR at www.sedar.com and EDGAR at www.sec.gov.

About Loncor Gold Inc.
Loncor is a Canadian gold exploration company focussed on the Ngayu Greenstone Gold Belt in the northeast of the Democratic Republic of the Congo (the "DRC"). The Loncor team has over two decades of experience of operating in the DRC. Loncor’s growing resource base in the Ngayu Belt currently comprises the Imbo and Makapela Projects. At the Imbo Project, the Adumbi deposit and two neighbouring deposits hold an inferred mineral resource of 3.466 million ounces of gold (42.996 million tonnes grading 2.51 g/t Au), with 84.68% of this resource being attributable to Loncor. Loncor is currently carrying out a drilling program at the Adumbi deposit with the objective of outlining additional mineral resources. The Makapela Project (which is 100%-owned by Loncor and is located approximately 50 kilometres from the Imbo Project) has an indicated mineral resource of 614,200 ounces of gold (2.20 million tonnes grading 8.66 g/t Au) and an inferred mineral resource of 549,600 ounces of gold (3.22 million tonnes grading 5.30 g/t Au).