The TSX Venture Exchange has accepted for filing documentation with respect to an arm's-length option agreement between Labrador Gold Corp. and an arm's-length party, Pacific Ridge Exploration Ltd. Pursuant to the agreement, the company will have an option to acquire a 100-per-cent undivided interest in the Mariposa and Eureka Dome gold projects, Yukon.

In order to exercise the option, the company must: (i) pay the optionor $500,000 in cash in tranches over a four-year period; (ii) issue to the optionor up to a maximum aggregate of 6.67 million common shares issuable in tranches over a four-year period; and (iii) incur an aggregate of $5.4-million in exploration expenditures on the property over a four-year period. The company shall pay the optionor the sum of $1-million on the filing of a feasibility study in respect of any part of the property. The cash and securities considerations may be accelerated at the discretion of the company.

Consideration:  $500,000 cash, 6.67 million common shares and $5.4-million in work expenditures

The Mariposa project is subject to a 2-per-cent net smelter return royalty and the Eureka Dome project is subject to a 1-per-cent net smelter return royalty.

For further details, please refer to the company's news release dated May 11, 2026.