Mr. Hemdat Sawh reports

LAVRAS GOLD COMPLETES EXPLORATION WORKSHOP AT LAVRAS DO SUL PROJECT IN BRAZIL; FINDINGS CONFIRM 2026 EXPLORATION PROGRAM PRIORITIES

Lavras Gold Corp. has concluded the previously announced specialist technical workshop undertaken to review the geological model, exploration results and targeting strategy at its Lavras do Sul project in Rio Grande do Sul, Brazil (see news release dated April 14, 2026). The company's exploration team, led by interim vice-president of exploration, Jonathan Hill, worked alongside independent geoscience specialists, has advanced the company's understanding of the mineral system and highlights areas where exploration approaches can be refined.

"We are excited to have hosted this expert site visit at the LDS project in Brazil as a number of valuable findings have emerged," commented interim vice-president of exploration, Mr. Hill. "The primary targets remain large-scale, bulk-tonnage systems, which leverages the project's district-scale presence, with numerous targets showing the potential to be incorporated into a unified economic model. The identification of shallow high-grade vein style mineralization, though limited in scale relative to the bulk-tonnage mineralization, also represent attractive targets in the context of potential early-stage mine development and cash flow generation."

Workshop highlights and key findings

The workshop focused on database interrogation and integration, core sample review and infield verification, and collaborative interpretation and target generation, which were designed to transition from high-level data review to identification of priority targets and confirmation of the project's geological framework.

Findings confirmed the LDS project geology is interpreted as a large alkaline intrusive system developed within an extensional, postorogenic tectonic setting with significant mantle contribution. This environment is considered permissive for the formation of alkalic intrusion-related gold/base metal systems, as well as iron oxide copper-gold style mineralization.

Key insights from each phase of the workshop include the following.

1. Database interrogation and data integration:

• Creating consistent geological concepts and standardizing technical terminology across all internal teams will ensure alignment and allow for more pointed and data-driven exploration decisions.
• Integrating over 20 years of legacy data into a unified district-scale model will provide a comprehensive view of the LDS project to ensure all exploration opportunities are identified, ranked and prioritized.
• Focusing on leveraging multielement geochemistry including key pathfinder elements such as gold, copper, molybdenum, lead and zinc in parallel with spectral and geophysical/structural data sets is considered important or vectoring toward potentially larger mineralized systems.
• Utilization of spectral data to identify key alterations such as mica (phengite), chlorite and other phyllosilicates that are central to the mineral system, will allow better discrimination between alteration intensity and mineral chemistry, and will provide a clearer understanding of the geological pathways, which controlled the flow of gold-bearing fluids.

2. Field verification and core review

Mineralization at the LDS project is associated with a complex, multistage magmatic-hydrothermal system, where alteration is developed in multiple temperature-dependent pulses. These phases commonly overlap, resulting in both mineralized and barren assemblages occurring in close spatial association.

• The earliest alteration phase is a high-temperature potassic assemblage, which is widespread impacting most of the intrusive phases within the Lavras igneous complex.
• Overprinting this potassic assemblage, the principal gold mineralizing stage is associated with the introduction of high-temperature hydrothermal fluids and the development of quartz veining accompanied by phengite (white mica) alteration. This important mineralizing stage is typically associated with disseminated pyrite.
• Contemporaneous with, or slightly later than, the phengite-associated mineralization, zones of iron-rich (black) chlorite alteration are developed. These occur as broad alteration domains with relatively minor quartz veining and disseminated sulphides, and are generally associated with lower-grade (approximately 0.3 to 2.0 grams per tonne gold) but bulk-tonnage style mineralization. In some areas, chlorite alteration partially overprints earlier phengite assemblages while in others it may be locally replaced by phengite, reflecting a dynamic and evolving hydrothermal system.
• As hydrothermal fluids continued to cool, quartz-phengite vein systems locally evolved to become enriched in base metals, with the development of sphalerite-galena-pyrite assemblages. These zones can host elevated gold grades, locally exceeding 20 g/t Au, but are typically restricted to discrete vein systems rather than broader alteration zones.
• A later-stage mineralization style observed in parts of the system, particularly at Caneleira, is characterized by black chlorite with sphalerite and locally visible gold. These occurrences can host very high gold grades (locally exceeding 50 g/t Au), but to date are generally observed to be limited in scale and continuity.
• Lamprophyre dikes are interpreted as a late intrusive phase. Gold-silver-base-metal veins are locally developed along structures associated with these dikes, commonly along hangingwall contacts.
• Late albite alteration represents a cooler, largely barren phase related to the waning stages of the system and is only partially preserved. No epithermal style mineralization has been identified, consistent with the current level of erosion exposing deeper portions of the system.
• Findings confirmed that mineralization does not occupy simple planar features but may lie within plunging structural zones.

3. Collaborative interpretation and target generation:

• The primary structural control on mineralization appears to be northwest-southeast-trending structures and perhaps to a lesser extent an east-west structural control. The team identified a need for improved 3-D targeting to account for the potential for plunging structural geometries that were not consistently tested in previous programs with the aim of leveraging and optimizing continued drilling success.
• Findings suggested that the primary target remains large-scale, bulk-tonnage systems, focusing the strategy on the project's district-scale potential.
• The identification of shallow high-grade vein style mineralization, while likely to be of limited scale relative to the bulk-tonnage mineralization, represents attractive targets in the context of potential early-stage mine development and cash flow generation.
• Over all, the most prospective mineralized zones are those exhibiting strong overprinting of multiple alteration and veining events, particularly where sheeted or stockwork quartz veining is well developed in association with phengite and/or chlorite alteration. These zones are interpreted to represent the main fluid pathways and offer the greatest potential for robust mineralized systems.
• Findings confirmed that magnetic lows associated with magnetite destruction during hydrothermal alteration remain as a key indicator for identifying new mineralized systems.
• Mineralized zones exhibiting strong overprinting of multiple alteration and veining events, particularly where sheeted or stockwork quartz veining is well developed, are the most prospective.

Next steps

These technical insights will allow the company to prioritize several key areas within the complex that exhibit characteristics of large-scale, bulk-tonnage systems.

Specific priority target areas and sequencing include:

• Cerrito, which hosts an existing mineral inventory and remains open along strike;
• Matilde, which remains open in multiple directions and shows potential for scale with associated copper and molybdenum credits; and
• Butia/Fazenda do Posto, bottom of the planned pit, where additional potential may exist at depth.

To date, high-grade vein mineralization occurring near lower-grade, potentially bulk-minable mineralization has been identified at Caneleira. Further exploration in this area is justified based on widespread gold-in-soil anomalism, favourable alteration and structural vectors in drill core, and its proximity to the mineral resource footprint at Butia/Fazenda.

In looking at these target areas, the company intends to:

• Refine structural and geological models;
• Improve drill planning and 3-D targeting methodologies;
• Focus on bulk-tonnage mineralized systems (while evaluating shallow high-grade opportunities where present);
• Expand integration of geochemical, geophysical and spectral data sets; and
• Reassess earlier-stage targets to better understand their scale and structural controls.

Qualified person

Mr. Hill, non-independent director and interim vice-president of exploration for Lavras Gold, is the qualified person as defined under National Instrument 43-101 (Standards of Disclosure for Mineral Projects), and has reviewed and approved the technical information contained in this release.

About Lavras Gold Corp.

Lavras Gold is a Canadian exploration company focused on realizing the potential of its LDS project situated in a highly prospective gold district in southern Brazil. The LDS project is located near the town of Lavras do Sul in the state of Rio Grande do Sul, Brazil, and is primarily an intrusive-hosted gold system of possible alkaline affinity. More than 24 gold prospects centred on historic gold workings have been identified on the LDS project properties, which span more than 21,000 hectares.

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