Dr. Roger Moss reports

LABRADOR GOLD CLOSES FIRST TRANCHE OF OPTION AGREEMENT WITH PACIFIC RIDGE AND UPDATES EXPLORATION AT THE MARIPOSA AND EUREKA DOME PROJECTS, WHITE GOLD DISTRICT, YUKON

Labrador Gold Corp.'s (LabGold) exploration programs for the Mariposa and Eureka Dome projects are under way. In addition, the company has closed the first tranche of the option agreement dated May 8, 2026, with Pacific Ridge Exploration Ltd. (see the company's news release dated May 11, 2026) by making a $100,000 cash option payment and issuing 800,000 common shares to Pacific Ridge. The shares issued are subject to a resale restriction expiring on Oct. 30, 2026.

Soil sampling has been completed on Eureka Dome and the first stage of soil sampling has been completed at Mariposa with 1,966 samples collected to date. At Mariposa, ridge-and-spur sampling in the southern, western and northern portions of the property has been completed, and a start has been made on the Alberta Creek Grid extension. All samples have been sent to Bureau Veritas for analysis by ICP-ES/MS following a modified aqua regia digestion (Code AQ201).

The airborne magnetic/radiometric survey has been delayed due to weather and will begin once conditions improve.

Dr. Roger Moss, president and chief executive officer of LabGold, stated: "The start of work on the newly acquired projects less than two months after signing the option agreement is an indication of our determination to advance the projects. Given the mineralization already known at Mariposa and its similarity to other deposits in the district, we believe that it has a significant chance to add to the overall gold endowment. Work at Mariposa will follow the same systematic exploration strategy that was so successful at Kingsway. With the results of our work this year and the amount of information already available, we anticipate starting a significant drill program in 2027."

About Mariposa

The 16,000-hectare Mariposa project consists of 795 claims situated in the White Gold district and is 40 kilometres southeast of the White Gold project (indicated resources of 1.73 million ounces gold at 1.53 grams per tonne and inferred resources of 1.27 million ounces gold at 1.22 grams per tonne) and 30 kilometres east-northeast of Fuerte's Coffee gold project (measured and indicated resources of 2.96 million ounces at 1.15 grams per tonne and inferred resources of 800,000 ounces at 1.17 grams per tonne). Note that information disclosed from other properties in the district is not necessarily indicative of the mineralization on the Mariposa property.

Mariposa shares many geological similarities to both the Golden Saddle (part of the White Gold project) and Coffee gold deposits, including host lithologies, mineralization style and structural control.

The age of gold mineralization at Mariposa (approximately 155 million years old) is consistent with that at Golden Saddle (163.5 million to 155.5 million years old) and other prospects in the district, indicating that the mineralization is associated with a widespread orogenic gold event.

The property occurs at the headwaters of significant placer-gold-producing creeks, with historic placer production of 73,000 ounces from Scroggie Creek indicative of significant bedrock gold mineralization yet to be fully defined.

Six significant gold occurrences have been delineated by over 13,000 soil samples to date, including the most advanced Skookum Main and Skookum West prospects. Drilling at Skookum Main in 2011 intersected 1.51 grams per tonne gold over 81.5 metres from 24.5 metres, including 2.44 grams per tonne gold over 38.9 metres from 29.1 metres. Trenching at Skookum West returned 1.40 grams per tonne gold over 40 metres, including 1.83 grams per tonne gold over 20 metres in SWTR12-11.

Qualified person

Dr. Roger Moss, PhD, PGeo, president and chief executive officer of LabGold, a qualified person in accordance with Canadian regulatory requirements as set out in National Instrument 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this release.

About Labrador Gold Corp.

LabGold is a Canadian-based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Canada. The Watson project, a joint venture with Nemo Resources Inc., represents the largest landholding in the Fort Hope greenstone belt, which is significantly underexplored compared to with other greenstone belts (for example, Red Lake and Pickle Lake) in Northwestern Ontario. While the exploration focus will be on gold, the Watson project also hosts significant potential for critical minerals (for example, antimony, nickel, copper and zinc). The proposed road to the Ring of Fire, expected to begin construction in mid-2026, runs through the Watson property and, once complete, will significantly reduce exploration and development costs.

The Hopedale property covers much of the Archean-age Florence Lake greenstone belt, which extends over 60 kilometres. While typical of greenstone belts globally, the area has been underexplored. LabGold's work to date has identified gold anomalies in rocks, soils and lake sediments across a three-kilometre section of the northern portion of the belt. Five gold occurrences lie along this trend, four of which were discovered by LabGold. Additional anomalous gold values occur across approximately 40 kilometres of the southern portion of the belt. Recent exploration has also demonstrated potential for copper, nickel and cobalt.

The Borden Lake project near Chapleau, Ont., lies immediately southeast of Discovery Silver Corp.'s Borden gold mine. Past exploration by LabGold identified two anomalous gold zones based on geochemistry and geophysics.

The company has 170,809,979 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB.

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