Loncor Gold Provides Update on Arrangement Transaction with Chengtun Mining

Toronto, Ontario--(Newsfile Corp. - December 1, 2025) - Loncor Gold Inc. (TSX: LN) (OTCQX: LONCF) (FSE: LO5) ("Loncor" or the "Company") is providing an update on the proposed arrangement (the "Arrangement Transaction") of Loncor with Chengtun Mining Group Co., Ltd. (SSE: 600711), through its wholly-owned subsidiary, Chengtun Gold Ontario Inc. (collectively "Chengtun Mining"), which Arrangement Transaction provides for, among other things, the acquisition by Chengtun Mining of all of the outstanding shares of the Company for Cdn$1.38 per share in cash by way of a court approved plan of arrangement.

In a recent communique, the Chinese Ministry of Foreign Affairs has cautioned Chinese nationals and businesses to avoid certain regions in eastern DRC. The guidelines regarding Chinese nationals in eastern DRC has been in place for a number of years, but the Chinese government recently issued a new heightened caution in response to certain disturbances, in particular along the Rwandan and Ugandan border. Loncor's Adumbi project is located approximately 500 kilometres from the border areas and has not experienced any issues with its operations. Africa's largest gold mine, Kibali, controlled by Barrick AngloGold JV, is located approximately 230 kilometres northeast of Adumbi. Both areas were identified in the recent communique. The Company's drill program at Adumbi continues normally with more drill results expected within the next 10 days.

The Company is continuing to advance the Arrangement Transaction and remains on track to hold a special meeting of shareholders (the "Meeting") on December 11, 2025 to obtain the required shareholder approval for the Arrangement Transaction. Closing remains subject to satisfaction or waiver of all requisite closing conditions, including without limitation, approval of Loncor shareholders at the Meeting and approval of the Ontario Superior Court of Justice (Commercial List). The Company will provide further updates as circumstances warrant and in accordance with applicable securities laws.

About Loncor Gold Inc.

Loncor is a Canadian gold exploration company focused 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 is focused on the Imbo Project where the Adumbi deposit holds an indicated mineral resource of 1.88 million ounces of gold (28.185 million tonnes grading 2.08 g/t gold), and the Adumbi deposit and two neighbouring 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 being attributable to Loncor. Following a drilling program carried out by the Company at the Adumbi deposit 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.

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