Extended Big Vein Discovery At Appleton Fault Zone

TORONTO - Labrador Gold Corp. reported on exploration at the Kingsway Project. Exploration during 2022 was focussed on the prospective Appleton Fault Zone that trends over a 12km strike length at Kingsway. Highlights of 2022 exploration include: Extended Big Vein discovery to over 520 meters NE-SW strike length; mineralization remains open in both directions; Both the highest-grade intersection of 284.1 g/t Au over 0.58 meters and the longest intersection of 2.02 g/t Au over 32 meters on the property to date were uncovered at Big Vein; Additional high-grade mineralization (479.5 g/t Au) found in outcrop at Golden Glove where initial drilling during 2022 intersected 6.22 g/t Au over 4m and 20.07 g/t Au over 1m; Made two brand new discoveries of near surface gold mineralization under cover at the Pristine and Midway targets. Initial drilling at Pristine identified a mineralized zone (Doyle Zone) that currently extends over 135 meters as well as a second parallel zone approximately 25m east; Limited drilling at Midway indicates near surface gold disseminated within an altered gabbroic intrusion, a separate mineralization style with significant potential for expansion along strike; Drilled 36,000 meters in 2022 after doubling the size of the planned drill program to 100,000 meters.

“LabGold’s exploration at Kingsway over the past two and a half years has resulted in the discovery of four new gold occurrences. Three of these, Golden Glove, Big Vein and Pristine, are located along the Appleton Fault Zone which continues to be our primary exploration target,” said Roger Moss, President and CEO. “With only about 2km of the 12km strike length of the Appleton Fault Zone tested by drilling, we anticipate additional discoveries as we test the remaining 10km of this very prospective structure. We would like to thank our investors for their continued support during the recent market downturn and hope you will join us as we look forward to another exciting year of exploration and discovery at Kingsway.”