Loncor Announces Election of Directors

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TORONTO, July 19, 2022 /CNW/ – Loncor Gold Inc. (“Loncor“or the”Company“) (TSX: LN) (OTCQX: LONCF) (FSE: LO51) announces that the five nominees listed in the Company’s management information circular for the Company’s annual meeting of shareholders (the “Meeting“) held the Tuesday, July 19, 2022 were elected at the Meeting as directors of Loncor. The vote took place by a show of hands. The detailed voting results are shown below:

Loncor Gold Inc. (CNW Group/Loncor Gold Inc.)

Last name

vote for

% of votes for

Votes withheld

% of votes retained

Zhengquan (Philippe) Chen

73 147 177

99.99%

7,500

0.01%

Peter N. Cowley

73 147 177

99.99%

7,500

0.01%

Arnold T. Kondrat

70,944,477

96.98%

2,210,000

3.02%

Richard J. Lachcik

73 147 177

99.99%

7,500

0.01%

William R. Wilson

70,944,477

96.98%

2,210,000

3.02%

Voting results on all matters to be voted on at the Meeting have been filed on SEDAR at www.sedar.com.

About Loncor Gold Inc.

Loncor is a Canadian gold exploration company focused on the Ngayu Greenstone gold belt in northeastern Democratic Republic of Congo (there “ground floorThe Loncor team has over two decades of operating experience in the DRC. Loncor’s growing resource base in the Ngayu belt currently includes the Imbo and Makapela projects. At the Imbo project, the Adumbi deposit holds a indicated mineral resource of 1.88 million ounces of gold (28.185 million tonnes grading 2.08 g/t Au), and the Adumbi deposit and two neighboring deposits hold an inferred mineral resource of 2.090 million ounces of gold (22.508 million tonnes grading 2.89 g/t Au), with 84.68% of these resources attributable to Loncor. Adumbi in 2020 and 2021, the Company completed a preliminary economic assessment (“PEA”) of the Adumbi deposit and announced the results of the PEA in December 2021. The Makapela project (wholly owned by Loncor and located approximately 50 kilometers 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).

Additional information about Loncor and its projects is available on the Loncor website at www.loncor.com

Qualified person

Peter N. Cowleywho is president of Loncor and a “qualified person” as that term is defined in National Instrument 43-101, has reviewed and approved the technical information contained in this press release.

Technical reports

Additional information regarding the Company’s Adumbi deposit (and other properties of the Company in connection with its Imbo project) is contained in the technical report of New SENET (Pty) Ltd and Minecon Resources and Services Limited dated December 15, 2021 and titled “NI 43-101 Preliminary Economic Assessment of the Adumbi Deposit in the Democratic Republic of Congo“. A copy of said report may be obtained from SEDAR at www.sedar.com and EDGAR at www.sec.gov.

Additional information regarding the Company’s Makapela Project and certain other Company properties in the Ngayu Gold Belt is contained in Venmyn Rand (Pty) Ltd’s technical report dated May 29, 2012 and titled “Updated National Instrument 43-101 Independent Technical Report on the Ngayu Gold Project, Orientale Province, Democratic Republic of Congo“. A copy of said report may be obtained from SEDAR at www.sedar.com and EDGAR at www.sec.gov.

Caution Regarding Forward-Looking Information

This press release contains forward-looking information. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including (but not limited to, statements regarding mineral resource estimates, potential mineral resource increases, future mineralization, exploration and development) are forward-looking information. This forward-looking information reflects the Company’s current expectations or beliefs based on information currently available to the Company. Forward-looking information is subject to a number of risks and uncertainties that may cause the Company’s actual results to differ materially from those discussed in the forward-looking information, and even if such actual results are achieved or substantially achieved , there can be no assurance that they will have the expected consequences or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to, the possibility that future results of exploration (including drilling) or development may not be consistent with Company, the Company’s business may be adversely affected by the continued spread of the generalized epidemic of respiratory diseases caused by a new strain of coronavirus (“COVID-19”), including the Company’s ability to obtain additional financing, risks associated with the exploration stage of the Company’s properties, uncertainties relating to the availability and costs of necessary financing in the future, the inability to establish estimated mineral resources (the Company’s mineral resource figures are estimates and no assurance can be given that the gold levels indicated will be produced), changes in world gold or stock markets, political developments in the DRC with gold recoveries being less than those indicated by metallurgical tests carried out to date (there can be no guarantee that gold recoveries in small scale laboratory tests will be duplicated in large scale tests under on-site conditions or during production), exchange rate fluctuations, inflation, regulatory changes affecting business of the Company, delays in obtaining or inability to obtain required project approvals, uncertainties relating to the interpretation of drill results and other geological data and other risks disclosed under the heading “Considerations Risk” and elsewhere in the Company’s Annual Information Form dated March 31, 2022 filed on SEDAR at www.sedar.com and EDGAR at www.sec.gov. Forward-looking information speaks only as of the date on which it is made and, except as required by applicable securities laws, the Company disclaims any intention or obligation to update any forward-looking information, whether as a result of future or other new information, events or results. Although the Company believes that the assumptions inherent in forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and, accordingly, undue reliance should not be placed on such information due to the inherent uncertainty of such information. -this.

SOURCELoncor Gold Inc.

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