Mr. Roger Moss reports

LABRADOR GOLD RESPONDS TO DISSIDENT'S VOTE CONTINGENT DIVIDEND — WARNS SHAREHOLDERS THIS IS A DESPERATE REPEAT OF THE GROWMAX CAMPAIGN PLAYBOOK

Labrador Gold Corp. today responded to a news release issued by Kulwant (Kal) Malhi-led Coloured Ties Capital Inc. claiming it will commit to "paying shareholders a two-cent dividend" within seven days of Labrador Gold's annual general and special meeting of shareholders on Feb. 24, 2026, if their campaign is successful. The board of directors of the corporation cautions shareholders that this is a vote-contingent promise designed to influence proxy voting, not a credible, detailed plan to create durable value or to protect Labrador Gold's treasury. The dissident has a proven record of misleading shareholders with promises and not keeping them once they achieve their hidden agenda.

• Labrador Gold has previously warned shareholders "the dissident is running the same old playbook again" and not to fall for the dissident's desperate attempt to mislead them with false promises.
• The dissident failed to pay the dividend amount it promised during their GrowMax campaign, while courts found the dissident communications were misleading and shareholders ended up paying the price.
• Global leading independent proxy advisors ISS and Glass Lewis recommend shareholders vote only the blue proxy; ISS states the dissident "has not presented a compelling case for any level of change, let alone a majority position."
• Only vote the blue proxy today!
• Labrador Gold again urges shareholders to vote only on the blue proxy well in advance of the Feb. 20, 2026, at 11 a.m. (Toronto time) voting deadline to ensure votes are counted and to disregard the dissident's gold proxy materials.
• Questions? need help voting blue? contact Kingsdale Advisors at 1-888-518-6813 (toll-free in North America), e-mail contactus@kingsdaleadvisors.com or visit the Future of Lab website.

The board unanimously recommends shareholders vote only on the blue form of proxy and blue voting instruction form, for all Labrador Gold resolutions, and vote against/withhold on the dissident's resolutions. Do not delay. Vote blue today, well in advance of the voting deadline on Feb. 20, 2026, at 11 a.m. (Toronto time), to ensure your vote is counted at the meeting. "Our shareholders deserve facts and safeguards to protect their investment -- not conditional pledges," said Roger Moss, president and chief executive officer of Labrador Gold. "This is a vote that determines control. The dissident is essentially seeking to buy votes in the final hours before the voting deadline in what can only be described as a desperate measure."

The GrowMax Resources activist campaign precedent demonstrates why shareholders should weigh what has actually been delivered by the dissident once control is acquired. The corporation has already warned shareholders of this in its letter titled, "The Dissident's Motives Exposed: A Message From Your Board of Directors at Labrador Gold" published on Feb. 2, 2026, which clearly states "Shareholders should see this sequence for what it is: the dissident is running the same old playbook again."

The company has seen this playbook before from the dissident

This is not the first time the dissident has made promises to a company's shareholders. In 2018, Mr. Malhi ran a nearly identical campaign against GrowMax (renamed to Coloured Ties following the campaign) promising shareholders a dividend of 7.5 cents per share as part of a plan they claimed would maximize shareholder value.

What actually happened to GrowMax shareholders once the dissident's motives were exposed?

• Court ruled the misleading action: Court of King's Bench of Alberta found the dissident's communications were misleading. The dissident's proxy materials contained misstatements, omissions and misleading statements of material facts.
• Failed dividend promise: The dissident failed to pay the dividend amount it previously promised. Only three cents per share was paid, a 60-per-cent cut.
• Trading halt and share consolidation: GrowMax suffered a two-year trading halt (August, 2019, to August, 2021), a 10-for-1 share consolidation and capital was redirected into related party ventures. The dissident then sold down their own stake in GrowMax at the direct expense of the very shareholders who had supported their campaign.
• Depleted liquidity: Today, Coloured Ties' own financial statements show minimal remaining cash following extensive capital consumption. As of Sept. 30, 2025, Coloured Ties had only $658,000 in available cash, up from $82,000 a year prior, demonstrating that their recent investment in Labrador Gold, based on valuation, was a ploy for a proxy contest. It stands to reason that they are targeting Labrador Gold's treasury because they have exhausted their own just as they did with GrowMax.

As stated above, the dissident has a documented history of desperation in activist campaigns which leads to broken promises, misleading information and leaving shareholders worse off.

Labrador Gold shareholders deserve to know this before they vote and it is why the corporation encourages shareholders to vote only on the blue proxy in line with Labrador Gold's recommendations.

Independent experts agree: vote blue and reject the dissident's attempt to seize control

Labrador Gold previously announced that Institutional Shareholder Services Inc. (ISS), a leading global independent proxy advisory firm, has recommended that shareholders vote only on the blue proxy in line with Labrador Gold's recommendations. ISS concluded that the dissident "has not presented a compelling case for any level of change, let alone a majority position." and further noted that the dissident "has not articulated an adequate plan."

Key facts -- why support Labrador Gold's board and management on the blue proxy

• Treasury protection with a regulated, transparent strategy: The board has a defined plan and has urged shareholders to protect Labrador Gold's treasury because once cash is spent, it cannot be voted back.
• Benefits with Labrador Gold's strategy: ISS stated the proposed hybrid mining/investment model provides benefits such as optionality to continue exploration while diversifying through minority positions that may not be available to retail investors.
• The best path forward for all shareholders: ISS noted the corporation's proposed change of business (COB) follows a thorough review of opportunities and could "provide a better path forward ... as compared to the status quo."
• Compliant proxy materials: Labrador Gold's blue proxy includes all items of business to be voted on and enables shareholders to make a clear, informed choice in the circumstances.
• Accountability and equal treatment: Unlike the dissident's conditional cash promise tied to control, the board's approach is focused on long-term value creation for all shareholders, not short-term inducements.

Have questions or need help voting blue?

Shareholders who require assistance should contact Labrador Gold's strategic adviser, Kingsdale Advisors.

There is a team standing by to help.

• North America (toll-free): 1-888-518-6813;
• Outside North America (call or text): 1-647-251-9740;
• E-mail: contactus@kingsdaleadvisors.com.

About Labrador Gold Corp.

Labrador Gold is a Canadian-based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada.

The recently announced Watson project, a joint venture with Nemo Resources Inc., represents the largest landholding in the Fort Hope greenstone belt which is significantly underexplored compared with other greenstone belts (that is, 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 (that is, 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. Labrador Gold'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 Labrador Gold. 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 Labrador Gold identified two anomalous gold zones based on geochemistry and geophysics.

The corporation has 170,009,979 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB.

We seek Safe Harbor.