Mr. Blaine Monaghan reports

LABRADOR GOLD ANNOUNCES 2026 EXPLORATION PLANS FOR PACIFIC RIDGE'S WHITE GOLD PROJECTS

Labrador Gold Corp. has released its plans for its 2026 exploration programs for Pacific Ridge Exploration Ltd.'s Mariposa and Eureka Dome gold projects in the White Gold district, Yukon. LabGold can acquire a 100-per-cent interest in both Mariposa and Eureka Dome by making cash payments totalling $500,000, issuing 6.67 million shares and making exploration expenditures totalling $5.4-million over a four-year period (see new release dated May 11, 2026). In addition, upon the filing of a positive feasibility study, LabGold will make a $1.0-million cash payment.

LabGold is in receipt of a Class 1 permit and plans a multiphase exploration program at Mariposa that includes an 808-line-kilometre high-resolution aeromagnetic survey, a detailed lidar survey, and a grid soil geochemical survey over the south and eastern portions of the property including approximately 4,700 samples and approximately 1,000 ridge and spur soil samples. At Eureka Dome, LabGold plans a ridge and spur soil sampling program.

"We are pleased to see this aggressive plan to further explore our White Gold projects, and we wish Labrador Gold every success with their upcoming program," said Blaine Monaghan, president and chief executive officer of Pacific Ridge. "Yukon continues to be an extremely active gold jurisdiction with Talamore Mining Corp. moving the Coffee deposit towards production and major drill programs at Snowline Gold's Rogue project, Banyan Gold's AurMac project and Sitka Gold's RC project."

Mariposa

Owned 100 per cent by Pacific Ridge and under option to LabGold, Mariposa comprises 795 claims and is located 120 kilometres southeast of Dawson City in the Yukon's White Gold district of the Dawson Range mineral belt. The Dawson Range is a regional major northwest-trending structural corridor which hosts numerous gold and copper deposits, including Talamore's Coffee deposit, located 30 kilometres west-southwest of Mariposa, and White Gold's Golden Saddle, located 40 kilometres west-northwest of Mariposa.

The geological setting of Mariposa is similar to Coffee and Golden Saddle in terms of the host lithologies, the structural controls and brittle style of deformation, and the nature of gold mineralization. Prior exploration identified an open-ended seven-kilometre-long horizon of altered, pyrite-bearing quartz mica schist in the Skookum Main zone. This unit is locally flanked by intrusive and mafic rock units, a setting favourable for hosting a gold-mineralizing system. Significant drill intersections at Skookum include 2.44 grams per tonne gold over 39 metres (see Pacific Ridge news release dated July 28, 2011).

Eureka Dome

Owned 100 per cent by Pacific Ridge and under option to LabGold, Eureka Dome comprises 76 claims and is road accessible from Dawson City. Placer gold occurrences have been reported in most creeks draining Eureka Dome, and geochemical anomalies suggest the presence of a high-level epithermal style alteration system. Prior workers reported breccia float samples grading to 14 g/t gold, and silt samples running to 2,190 parts per billion gold on tributaries of upper Eureka Creek. Reconnaissance sampling by Pacific Ridge has defined a gold-mercury-molybdenum-antimony soil anomaly that requires further follow-up.

About Pacific Ridge Exploration Ltd.

A Fiore group company, Pacific Ridge's goal is to become British Columbia's leading copper exploration company. The Kliyul copper-gold project, located in the prolific Quesnel terrane close to existing infrastructure, is the company's flagship project. In addition to Kliyul, Pacific Ridge's project portfolio includes the RDP copper-gold project, the Onjo copper-gold project and the Redton copper-gold project, all located in British Columbia. The company would like to acknowledge that its B.C. projects are in the traditional, ancestral and unceded territories of the Gitxsan Nation, McLeod Lake Indian Band, Nak'azdli Whut'en, Takla Nation and Tsay Keh Dene Nation.

The technical information contained within this news release has been prepared under the supervision of, and reviewed and approved by, Danette Schwab, PGeo, vice-president, exploration, of the company, a qualified person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

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