Mr. Hemdat Sawh reports

LAVRAS GOLD CORP. ANNOUNCES CLOSING OF $10 MILLION PUBLIC OFFERING

Further to the press release of Jan. 21, 2026, Lavras Gold Corp. has completed its previously announced bought deal public offering, pursuant to which the company issued an aggregate of 2,942,000 common shares of the company at a price of $3.40 per share for gross proceeds of $10,002,800 to the company. The shares were sold pursuant to an underwriting agreement dated Jan. 23, 2026, between the company, Canaccord Genuity Corp. and Paradigm Capital Inc., as co-lead underwriters, and Research Capital Corp. and Raymond James Ltd.

The shares were offered to the public in Canada by way of a prospectus supplement dated Jan. 23, 2026, to the company's short form base shelf prospectus dated Nov. 26, 2024, filed in all of the provinces of Canada except for Quebec. The shares were also offered by way of a private placement in the United States and in offshore jurisdictions. The offering remains subject to final acceptance of the TSX Venture Exchange.

In connection with the offering, the underwriters were paid an aggregate cash commission of 6 per cent on the gross proceeds of the offering, subject to reduced cash commissions in respect of the president's list.

The company will use the net proceeds of the offering for project development, exploration and resource drilling, and general corporate purposes.

The offering constituted a related-party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions) as an insider of the company purchased 7,350 shares pursuant to the offering. The company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101 as the company is not listed on a specified market and the fair market value of the participation in the offering by the insider does not exceed 25 per cent of the market capitalization of the company in accordance with MI 61-101. The company did not file a material change report in respect of the related-party transaction at least 21 days before the closing of the offering, which the company deems reasonable in the circumstances to complete the offering in an expeditious manner.

About Lavras Gold Corp.

Lavras Gold is a Canadian exploration company focused on realizing the potential of its LDS project situated in a highly prospective gold district in southern Brazil. The LDS project is located near the town of Lavras do Sul in the Rio Grande do Sul state of Brazil, and is primarily an intrusive-hosted gold system of possible alkaline affinity. More than 24 gold prospects centred on historic gold workings have been identified on the LDS project properties, which span more than 23,000 hectares.

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