LABRADOR GOLD CORP

On May 11, 2026, Labrador Gold (LabGold), which holds gold exploration projects in Labrador and Ontario, announced the signing of an option agreement with Pacific Ridge Exploration Limited to acquire a 100% interest in the Mariposa and Eureka Dome gold projects in the White Gold District, Yukon Territory.

Subject to TSXV approval, LabGold must pay total consideration of $500,000 in cash and 6,670,000 common shares of LabGold over 4 years and incur exploration expenditures on the Mariposa and Eureka Dome projects totalling $5,400,000 over 4 years. On the filing of a positive Feasibility Study in respect of any part of the Properties, LabGold shall pay to Pacific Ridge the sum of $1,000,000.  The Mariposa Project is subject to a 2% net smelter return royalty and the Eureka Dome project is subject to a 1% net smelter return royalty.

The Mariposa Project consists of 795 claims located approximately 120 kilometres southeast of Dawson City and is accessible by fixed-wing aircraft and winter road. The project lies approximately 15 kilometres east of the proposed Northern Access Route (NAR), an all-season road being constructed from Dawson City to the Coffee Gold project.

The property is 40 km southeast of White Gold’s White Gold Project (Indicated resources of 1.73 Moz Gold and inferred resources of 1.27 Moz Gold) and 30 km east-northeast of Fuerte’s Coffee property (Measured and Indicated resources of 2.96 Moz and inferred resources of 0.8 Moz).  Mariposa shows geological similarities to both the Golden Saddle (part of the White Gold Project) and Coffee deposits, including host lithology, style of gold mineralization and structural control.

Past exploration on the property was largely completed between 2010 and 2015, with only limited work since. Previous exploration outlined significant gold occurrences, delineated by over 13,000 soil samples. The most significant of these are:

• Skookum Main: 0.6 by 1.1 km gold in soil anomaly with significant drill intercepts including 81.5m @ 1.51 g/t Au and 40m @0.93 g/t Au,
• Skookum West: 0.8 by 1.5km soil anomaly with anomalous values in Sb, Bi, Cu and Mo. Trenching returned 1.40g/t Au over 40m including 1.83g/t Au over 20m in SWTR12-11.

Eureka Dome is located approximately 62km north-northwest of the Mariposa Project, 55 km northeast of the White Gold Project and is road accessible from Dawson City. Limited soil sampling has identified two main target areas on the property:

• A possible epithermal system based on anomalous arsenic-antimony-mercury with erratic gold values spread over a 2.5 by 1km area; and
• A porphyry-like signature of strong copper-molybdenum-gold-zinc with possible zonation to lead.

LabGold is currently planning a summer field program following the same systematic exploration approach that has been successful elsewhere. The program is anticipated to consist of 1) airborne magnetic and radiometric surveying across the south of the property, 2) LiDAR surveying across the entire property, 3) grid soil sampling in the Alberta Creek area and ridge and spur sampling in untested parts of the property. An application for a Class 1 permit to execute the planned work was submitted in early April.

Comment

This acquisition gives LabGold, whose stock has been trading around C$0.07, a much-needed more advanced project in Mariposa located in a rapidly growing gold camp in the White Gold District of Yukon.  The company has C$15.7 million in cash as of December 31, 2025 so is well funded to carry out the planned exploration program. It doesn’t however, look like any drilling will be carried out this season, which will likely limit upside in the stock until drilling is done, likely in 2027.