Dr. Roger Moss reports

LABRADOR GOLD INTERSECTS 1.81 G/T AU OVER 20.15 METRES AT DROPKICK, EXTENDS ZONE TO 360 METRES

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.

Final results from first-stage drilling at DropKick include significant near-surface gold mineralization of 20.15 metres grading 1.81 grams per tonne gold from 50 metres, including 4.14 g/t Au over 4.5 metres, in hole K-23-248. Several near-surface intervals were also intersected in hole K-23-245, including 1.77 g/t Au over 5.15 metres from 31.85 metres down hole. Holes K-23-245 and K-23-248 represent a 67-metre stepout to the northeast. Hole K-23-254, a 136-metre stepout to the southwest, intersected 2.45 g/t Au over 4.1 metres from 108.9 metres, including an interval of 16.68 g/t Au over 0.3 metre that contained visible gold. These latest intersections extend the known mineralization at Dropkick to over 360 metres of strike length, and it remains open in both directions. Twelve of the 15 holes drilled at Dropkick intersected gold mineralization, with four holes containing visible gold.

"During the first phase of drilling at DropKick, we demonstrated the presence of near-surface gold over significant widths while increasing the strike length of known mineralization which remains open along strike in both directions. Further drilling is required to demonstrate the true potential of this discovery," said Dr. Roger Moss, president and chief executive officer of Labrador Gold. "Planning is currently under way for drilling in the gap, between Big vein and Pristine, and to the south of Big vein towards the recent Knobby discovery. Drilling of targets in these areas is expected to begin before the end of the month. We are excited to start filling in the gaps between the four discoveries made along a seven-kilometre section of the Appleton fault zone at Kingsway."

Follow-up drilling at Pristine included an intersection of 1.05 g/t Au over 11 metres from 90 metres in hole K-23-276 and 1.28 g/t Au over 6.18 metres from 66.47 metres in hole K-23-272. Mineralization drilled to date at Pristine mostly occurs above 86 metres vertical depth and extends over a strike length of approximately 160 metres.

Continuing drilling at the Big vein intersected 2.76 g/t Au over 8.97 metres from 233.56 metres, including 7.04 g/t over 3.09 metres, in hole K-23-278.

Almost 85,000 metres have been drilled to date out of the planned 100,000-metre program. Assays are pending for samples from approximately 6,100 metres of core.

The company has approximately $10-million in cash and is well financed to carry out the remaining 15,000 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.

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 numerous gold occurrences in the region. 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 $10-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 that 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 grams per tonne gold. In addition, anomalous gold-in-soil and lake sediment samples occur over approximately 40 km along the southern section of the greenstone belt (see news release dated Jan. 25, 2018, for more details).

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