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

Labrador Gold Closes First Tranche of Option Agreement with --> Accessibility: Skip TopNav 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 July 02, 2026 07:22 ET | Source: Labrador Gold Corp. Labrador Gold Corp. 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 Mariposa The 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 gold project (Measured and Indicated resources of 2.96 Moz at 1.15g/t and Inferred resources of 0.8 Moz at 1.17g/t (2)). Note that information disclosed from other properties in the district is not necessarily indicative of the mineralization on the Mariposa property. 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 age of gold mineralization at Mariposa (~155Ma) is consistent with that at Golden Saddle (163.5 to 155.5 Ma) and other prospects in the district, indicating that the mineralization is associated with a widespread orogenic gold event. The property occurs at the headwaters of significant placer gold producing creeks with historic placer production of 73,000 oz from Scroggie Creek (3) 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. Drilling at Skookum Main in 2011 intersected 1.51g/t Au over 81.5m from 24.5m including 2.44g/t Au over 38.9m from 29.1m. Trenching at Skookum west returned 1.40g/t Au over 40m including 1.83g/t Au over 20m in SWTR12-11 (4). Figure 1. Planned 2026 work areas at the Mariposa Project Sources (1) See White Gold News Release “White Gold Corp. Files Technical Report Demonstrating Significant 44% Increase in Indicated Resources to 1,732,300 oz Gold (35.2 million tonnes grading 1.53 g/t) and 13.4% Increase in Inferred Resources to 1,265,900 oz Gold (32.2 million tonnes grading 1.22 g/t) at its Flagship White Gold Project, Yukon, Canada” dated October 6, 2025. (2) See Fuerte Metals News release “Fuerte Announces a Positive Preliminary Economic Assessment for the Coffee Gold Project; Positioning the Company as one of Canada's Next Gold Producers” dated February 22, 2026. (3) See Yukon Geological Survey Placer Database for Scroggie Creek and Mariposa Creeks. (4) Jean Pautler, P.Geo., 2016, Technical Report on the Mariposa Project in the White Gold district, Yukon Territory. Effective Date November 25, 2016. Qualified Person Roger Moss, PhD., P.Geo., President and CEO of LabGold, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure