Dr. Roger Moss reports

LABRADOR GOLD INTERSECTS 11.98 G/T AU OVER 6 METRES INCLUDING 30.61 G/T OVER 2.33 METRES IN FOLLOW UP DRILLING AT PRISTINE

Labrador Gold Corp. has released results from recent drilling targeting the highly prospective Appleton fault zone. The drilling is part of the company's continuing 100,000-metre diamond drilling program at its 100-per-cent-owned Kingsway project.

Highlights of follow-up drilling at Pristine include an intersection of 11.98 grams per tonne gold over six metres from 91 metres (64 m vertical), including 30.61 g/t over 2.33 metres and 82.2 g/t over 0.75 metre, that contained 77 grains of visible gold in hole K-22-270. All mineralization drilled to date at Pristine occurs above 86 metres vertical depth and extends over a strike length of approximately 160 metres.

Further results from first-stage drilling at DropKick include 1.15 g/t Au over 12.4 metres from 190.25 metres, including 7.74 g/t Au over 0.3 metre, in hole K-23-231, and 1.46 g/t Au over 6.75 metres from 162.25 metres, including 3.72 g/t Au over 2.15 metres, in hole K-23-251.

Continuing drilling at the Big vein returned 1.10 g/t Au over 9.3 metres from 195 metres, including 1.49 g/t over 5.3 metres, in hole K-23-246, and 1.47 g/t Au over 6.55 metres from 107.88 metres in hole K-23-237.

"Today's result of high-grade, near-surface gold mineralization at Pristine validates our belief that there is more to be found at Pristine. It is also the third discovery along the Appleton fault zone, after Big vein and Dropkick, to produce such high grades associated with visible gold. Following our initial discovery of near-surface visible gold at Pristine announced in May, 2022, we did not intersect similar high grades to those seen at Big vein. As a result, we returned our focus to expanding Big vein along strike and at depth, and have successfully defined mineralization there over a 720-metre strike length," said Dr. Roger Moss, president and chief executive officer of Labrador Gold. "With near-surface mineralization at Pristine now drilled over an approximate 160-metre strike length and the potential for high grades demonstrated, we are looking forward to receiving the permit to drill the gap between Pristine and Big vein, a distance of approximately 700 metres, as we continue to focus our drilling along the very prospective Appleton fault zone."

Almost 83,000 metres have been drilled to date out of the planned 100,000-metre program. Assays are pending for samples from approximately 8,877 metres of core.

The company has approximately $12-million in cash and is well financed to carry out the remaining 17,000 metres of the planned drill program, as well as further exploration to add to the current pipeline of drill targets on the property.

Quality assurance/quality control

True widths of the reported intersections have yet to be calculated. Assays are uncut. Samples of HQ split core are securely stored prior to shipping to Eastern Analytical Laboratory in Springdale, Nfld., for assay. Eastern Analytical is an ISO/IEC17025-accredited laboratory. Samples are routinely analyzed for gold by standard 30 g fire assay with atomic absorption finish, as well as by ICP-OES for an additional 34 elements. Samples containing visible gold are assayed by metallic screen/fire assay, as are any samples with fire assay results greater than one g/t Au. The company submits blanks and certified reference standards at a rate of approximately 5 per cent of the total samples in each batch. Approximately 5 per cent of sample pulps are submitted to Bureau Veritas, an ISO 17025-accredited laboratory in Vancouver, B.C., for check assays.

Qualified person

Dr. Roger Moss, PhD, PGeo, president and chief executive officer of Labrador Gold, a qualified person in accordance with Canadian regulatory requirements 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.

The company gratefully acknowledges the Newfoundland and Labrador Ministry of Natural Resources' Junior Exploration Assistance Program for its financial support for exploration of the Kingsway property.

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.

Labrador Gold's flagship property is the 100-per-cent-owned Kingsway project in the Gander area of Newfoundland. The three licences comprising the Kingsway project cover approximately 12 kilometres of the Appleton fault zone, which is associated with gold occurrences in the region, including those of New Found Gold immediately to the south of Kingsway. Infrastructure in the area is excellent, located just 18 km from the town of Gander, with road access to the project, nearby electricity and abundant local water. Labrador Gold is drilling a projected 100,000 metres, targeting high-grade, epizonal gold mineralization along the Appleton fault zone, with encouraging results. The company has approximately $12-million in working capital and is well financed to carry out the planned program.

The Hopedale property covers much of the Florence Lake greenstone belt, which stretches over 60 km. The belt is typical of greenstone belts around the world, but has been underexplored by comparison. Work to date by Labrador Gold shows gold anomalies in rocks, soils and lake sediments over a three-kilometre section of the northern portion of the Florence Lake greenstone belt, in the vicinity of the known Thurber Dog gold showing, where grab samples assayed up to 7.8 g/t gold. In addition, anomalous gold-in-soil and lake sediment samples occur over approximately 40 km along the southern section of the greenstone belt. Labrador Gold now controls approximately 40 km of strike length on the Florence Lake greenstone belt.

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