Dr. Roger Moss reports

LABRADOR GOLD ANNOUNCES RECEIPT OF CLASS 1 PERMIT AND FINALIZES CONTRACTS FOR FIELD WORK AT THE MARIPOSA AND EUREKA DOME PROJECTS, WHITE GOLD DISTRICT, YUKON

Labrador Gold Corp. (LabGold) has received the Class 1 permit for its proposed exploration for the Mariposa and Eureka Dome projects and that all contractors required to carry out the field program have been lined up. In addition, the TSX Venture Exchange has conditionally approved the option agreement dated May 8, 2026, with Pacific Ridge Exploration Ltd. (see the company's news release dated May 11, 2026), but closing remains subject to final approval of the TSX Venture Exchange.

The receipt of the Class 1 permit enables LabGold to start scheduling the summer field program at Mariposa as the Yukon field season gets under way. The company's plan for the season includes:

1. Eight hundred eight line kilometres of high-resolution airborne magnetic and radiometric surveying across the south of the property. Results will be merged with existing high-resolution coverage over the north of the property. Interpretation of the magnetic and radiometric data will provide key structural information and, when combined with soil geochemistry, is expected to highlight specific targets for follow up drilling in 2027. Precision Geosurveys Inc. of Langley, B.C., has been contracted to carry out the survey which should begin before month-end.
2. Lidar (light detection and ranging) surveying across the entire 156-square-kilometre property collected at 10 points/square metre with 10-centimetre orthorectified imagery. The lidar data will significantly aid in mapping subtle geological structures which may be tied to bedrock gold mineralization. The survey will also identify areas of potential outcrop for follow-up prospecting and mapping this summer. LiDAR Services International of Calgary, Alta., has been contracted to carry out the survey.
3. Grid soil sampling in the Alberta Creek-Hackly gold area (approximately 4,700 samples) and ridge and spur sampling mainly in the southern part of the property (approximately 1,000 samples). Grid sampling will complete coverage at Alberta Creek and extend across to link up with sampling in the Hackly gold area. The ridge and spur sampling is a reconnaissance survey targeting areas of the property that have not yet been covered.
4. Ridge and Spur sampling at the Eureka Dome property to test the southern portion of the property which has not yet been examined

Osprey Long Range Inc. of Dawson City, Yukon, has been contracted to carry out the soil surveys which should be completed by early September.

Dr. Roger Moss, president and chief executive officer of LabGold, states: "We are excited to get to work on our newly acquired projects that have sat idle for some time. Our 2026 program follows LabGold's systematic exploration strategy that led to the previous gold discoveries at the Hopedale and Kingsway projects both of which had only one or two gold occurrences when we began exploration there. Given the known mineralization at Mariposa, and the endowment of the White gold district, I have no doubt that we will have similar success here. We continue to compile and reinterpret the significant amount of historical data which will provide further guides to work going forward."

About Mariposa

The 16,000-hectare Mariposa project consists of 795 claims situated in the White gold district and is 40 kilometres southeast of the White gold project (indicated resources of 1.73 Moz (million ounces) gold and inferred resources of 1.27 Moz gold) and 30 kilometres east-northeast of Fuerte's Coffee gold project (measured and indicated resources of 2.96 Moz and inferred resources of 0.8 Moz).

Mariposa shares many geological similarities to both the Golden Saddle (part of the White gold project) and Coffee gold deposits including host lithologies, mineralization style and structural control.

The age of gold mineralization at Mariposa (approximately 155 Ma (million years ago)) is consistent with that at Golden Saddle (163.5 to 155.5 Ma) and other prospects in the district, indicating that the mineralization is associated with a widespread orogenic gold event.

The property occurs at the headwaters of significant placer gold producing creeks with historic placer production of 73,000 ounces from Scroggie Creek indicative of significant bedrock gold mineralization yet to be fully defined.

Six significant gold occurrences have been delineated by over 13,000 soil samples to date, including the most advanced Skookum Main and Skookum West prospects. Drilling at Skookum Main in 2011 intersected 1.51 grams per tonne Au (gold) over 81.5 metres from 24.5 m including 2.44 g/t Au over 38.9 m from 29.1 m. Trenching at Skookum west returned 1.40 g/t Au over 40 m including 1.83 g/t Au over 20 m in SWTR12-11.

Additionally, LabGold announces the transition of Ryan Weston from the role of vice-president, exploration to technical adviser. Dr. Roger Moss, president and chief executive officer, states: "While we'll miss Ryan in his role as VP, exploration, I'm pleased he'll remain involved with LabGold as a technical adviser. I look forward to continuing our work together on our recently acquired Yukon projects as well as the Watson project in the Fort Hope greenstone belt."

Qualified person

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

LabGold is a Canadian-based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Canada. The Watson project, a joint venture with Nemo Resources Inc., represents the largest landholding in the Fort Hope greenstone belt, which is significantly underexplored compared to 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. LabGold'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 LabGold. 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 LabGold identified two anomalous gold zones based on geochemistry and geophysics.

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

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