Labrador Gold Closes First Tranche of Option Agreement with Pacific Ridge and Updates Exploration at the Mariposa and Eureka Dome Projects, White Gold District, Yukon

About this update from Labrador Gold Corp

Labrador Gold Closes First Tranche of Option Agreement with Pacific Ridge and Updates Exploration at the Mariposa and Eureka Dome Projects, White Gold District, Yukon TORONTO, July 02, 2026 (GLOBE NEWSWIRE) -- Labrador Gold Corp. (TSX.V: LAB | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce that its exploration programs for the Mariposa and Eureka Dome projects are under way. In addition, the Company has closed the first tranche of the Option Agreement dated May 8, 2026 with Pacific Ridge Exploration Limited (PEX: TSXV; PEXZF: OTCQB) (see the Company’s News Release dated May 11, 2026) by making a $100,000 cash option payment and issuing 800,000 common shares to Pacific Ridge. The shares issued are subject to a resale restriction expiring on October 30, 2026. Soil sampling has been completed on Eureka Dome and the first stage of soil sampling has been completed at Mariposa with 1,966 samples collected to date. At Mariposa ridge and spur sampling in the south, west and northern potions of the property have been completed, and a start has been made on the Alberta Creek Grid extension (See Figure 1). All samples have been sent to Bureau Veritas for analysis by ICP-ES/MS following a modified aqua regia digestion (Code AQ201). The airborne magnetic/radiometric survey has been delayed due to weather and will begin once conditions improve. Roger Moss, President and CEO of LabGold, states “The start of work on the newly acquired projects less than two months after signing the option agreement is an indication of our determination to advance the projects. Given the mineralization already known at Mariposa, and its similarity to other deposits in the district, we believe that it has a significant chance to add to the overall gold endowment. Work at Mariposa will follow the same systematic exploration strategy that was so successful at Kingsway. With the results of our work this year and the amount of information already available we anticipate starting a significant drill program in 2027.” About MariposaThe 16,000 ha 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 Gold at 1.53g/t and inferred resources of 1.27 Moz Gold at 1.22g/t (1)) and 30 kilometres east-northeast of Fuerte's Coffee go...

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