Mr. Eric Sprott, a shareholder, reports

ERIC SPROTT ANNOUNCES CHANGES TO HIS HOLDINGS IN LABRADOR GOLD CORP.

Eric Sprott's 5,555,555 common share purchase warrants of Labrador Gold Corp. (held by 2176423 Ontario Ltd., a corporation he beneficially owns) expired unexercised, representing a decrease in control of approximately 2.9 per cent of the outstanding common shares (shares) on a partially diluted basis since the date of the last early warning report. Prior to the expiry of these warrants, Mr. Sprott beneficially owned and controlled 18,611,111 shares and 5,555,555 warrants representing approximately 10.9 per cent of the outstanding shares on a non-diluted basis and 13.8 per cent on a partially diluted basis assuming the exercise of such warrants. As a result of the warrant expiry, Mr. Sprott now owns and controls 18,611,111 shares representing approximately 10.9 per cent of the outstanding shares on a non-diluted basis.

The securities are held for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

Labrador Gold is located at 82 Richmond St. East, Toronto, Ont., M5C 1P1. A copy of the early warning report with respect to the foregoing will appear on Labrador Gold's profile on SEDAR.