Mr. Roger Moss reports

LABRADOR GOLD ANNOUNCES NON-BROKERED PRIVATE PLACEMENT OF UP TO $4 MILLION AND APPOINTMENT OF RAYMOND D. HARARI AS PRESIDENT AND DIRECTOR

Labrador Gold Corp. intends to complete a non-brokered private placement for aggregate gross proceeds of a minimum of $2-million and a maximum of $4-million. In connection with the offering, the company also intends to appoint Raymond D. Harari as president and a director of the company, and to enter into an investor rights agreement with the lead investors, in each case as described below and effective at the closing of the offering.

The offering will consist of: (i) common shares of the company issued on a non-flow-through basis (the HD shares); and (ii) common shares of the company that will qualify as flow-through shares within the meaning of Subsection 66(15) of the Income Tax Act (Canada), each at a price of five cents per share, for the issuance of between 40 million and 80 million shares.

The offering is being led by Matachewan Consolidated Mines Ltd. (TSX Venture Exchange: MCM-A) and McChip Resources Inc. (TSX-V: MCS), which intend to subscribe for $2,133,790.45 of FT shares, representing 42,675,809 FT shares. In connection with the initial closing of the offering, the company and the lead investors intend to enter into a customary investor rights agreement providing the lead investors with the right to nominate two directors to the board of directors of the company along with certain information, participation and top-up rights for so long as the lead investors and their permitted transferees collectively hold at least 10 per cent of the issued and outstanding common shares of the company. The participation and top-up rights are intended to permit the lead investors, subject to customary exclusions, applicable law, TSX-V acceptance and a maximum ownership level of 19.99 per cent unless any required shareholder approval is obtained, to maintain their collective pro rata ownership percentage in connection with subsequent issuances of securities by the company. The shares acquired by the lead investors under the offering will also be subject to a one-year contractual lock-up, subject to customary exceptions. The lead investors will also vote the common shares of the company held by them in favour of the existing board of directors, and the lead investors' nominees, at the next annual meeting. In addition, for a period of two years, they will vote in favour of the election of Roger Moss and Leo Karabelas as directors of the company.

In connection with, and effective upon, the closing of the offering, the company intends to appoint Raymond D. Harari as president and a director of the company. Mr. Harari will be the lead investors' initial nominee to the board of directors under the investor rights agreement. The lead investors will have the right to nominate a second director to the board of directors of the company at the next annual meeting to be held on or before April 30, 2027.

Mr. Harari is the founder of Canalis Capital, a merchant bank focused on the resource sector and currently serves as president of Argentina Metals Corp. (TSX-V: VLLC). He has served as a senior executive and director of a number of publicly listed mineral exploration companies including Hercules Metals Corp., Westward Gold Inc. and Sendero Resources Corp.

"We are pleased to welcome Ray as incoming president and director of Labrador Gold. Based on his prior success in the mineral exploration world and his significant network in Latin America he will be an excellent addition to the LabGold team," said Roger Moss, chief executive officer of Labrador Gold. "I am excited to work with Ray as we continue to build on our success and create opportunities to grow the company for the benefit of all our shareholders."

"Labrador Gold has a quality shareholder base and, in Roger, a geologist who took the Kingsway property from grassroots to a sale to New Found Gold, which few in this business ever achieve. I'm here to bring the same discipline to the capital markets strategy that he brings to exploration," said Mr. Harari.

The gross proceeds from the sale of the FT shares will be used to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures, as those terms are defined in the tax act, on the company's mineral properties in Canada. The company will renounce the qualifying expenditures in favour of the subscribers of the FT shares with an effective date no later than the date permitted under the tax act, in an aggregate amount not less than the gross proceeds raised from the issuance of the FT shares. The net proceeds from the sale of the HD shares will be used for exploration and development activities, working capital and general corporate purposes.

All securities issued under the offering will be subject to a hold period of four months and one day from the date of issuance in accordance with applicable Canadian securities laws and the policies of the TSX Venture Exchange. The offering is expected to close in one or more tranches on or about Sept. 28, 2026, or such other date or dates as the company and the lead investors may agree, and is subject to customary conditions, including the receipt of all necessary corporate and regulatory approvals, including the acceptance of the TSX-V. The company does not intend to pay finders' fees in connection with the offering.

Four insiders of the company intend to subscribe for 11.7 million FT shares for $585,000. The insider private placements are exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 by virtue of the exemptions contained in sections 5.5(a) and 5.7(1) (a) of MI 61-101 in that the fair market value of the consideration for the securities of the company which will be issued to the insiders will not exceed 25 per cent of its market capitalization.

About Labrador Gold Corp.

Labrador Gold is a Canadian-based hybrid mining and investment issuer focused on the acquisition and exploration of prospective mineral projects in Canada and on strategic investments in mining companies and assets that the company believes have the potential to generate long-term value.

The Mariposa project covers 16,000 hectares in the White gold district and is 40 kilometres southeast of the White gold project and 30 kilometres east-northeast of Fuerte's Coffee gold project. 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 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.

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 with other greenstone belts (for example, 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 170,809,979 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB.

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