Labrador Gold Begins 2025 Exploration at Hopedale Gold Project

/EIN News/ -- TORONTO, June 19, 2025 (GLOBE NEWSWIRE) -- Labrador Gold Corp. (TSX.V: LAB | OTCQB: NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce that a field crew has mobilized to the Hopedale gold project in Labrador and that work has begun on the 2025 exploration program. The district scale Hopedale property covers a 43km strike length of the Archean-age Florence Lake greenstone belt which has characteristics typical of greenstone belts around the world but has been underexplored by comparison.

Exploration on the property will focus along the Thurber Gold trend on the northern most license. This three-kilometre trend is defined by four significant gold occurrences surrounded by anomalous gold in rock and soil samples (Figure 1) that occur along the contact of intensely carbonate altered ultramafic volcanic rocks and altered felsic or mafic volcanic rocks.

Past sampling by LabGold along this trend has returned values of up to 32.3 g/t Au at Thurber North in grab samples*. Channel sampling at TD500 returned values of up to 14.0 g/t Au over 0.61m, 7.2 g/t Au over 1.83m, 6.1g/t Au over 3.3m and 4.2 g/t Au over 5.04m**.

The trend will be covered by a 33-line kilometre IP/Resistivity survey designed to detect chargeability anomalies due to pyrite and/or arsenopyrite mineralization associated with the gold and resistivity anomalies from alteration of the host rocks. Detailed mapping and prospecting will also be undertaken over the grid area and extended to the Thurber Boundary occurrence to the north.

“Systematic rock and soil sampling by LabGold identified the 3km long Thurber Gold trend along which significant gold occurs in rock samples, with 52 samples assaying over 0.5g/t Au, including 33 samples assaying over 1g/t Au. The current program aims to define drill targets along this prospective trend“, says Roger Moss, President and CEO of Labrador Gold. “Elsewhere on the property, recently discovered occurrences of gold and copper will be followed up with mapping and prospecting to further extend the known extent of the mineralization.”

Prospecting and mapping will also be undertaken on the southern license in the Rusty Ridge area where gold was recently discovered at the Fire Ant occurrence, and copper – silver at the Stone Fly occurrence (Figure 2).

At the Fire Ant occurrence, now traced over an area of 250m by 270m, initial sampling by LabGold in 2023 returned up to 106 g/t Au with 20.4g/t Ag, 3.7 g/t Au with 4.9 g/t Ag, and 2.9 g/t Au with 4.7g/t Ag in grab samples***. Follow up sampling in 2024 returned values of 9.35 g/t Au and 0.19g/t Au with 10.8g/t Ag*.

* See news release dated October 24, 2024
** See news release dated January 19, 2023
*** See news release dated February 7, 2024

Project Acquisition Update

As part of its growth strategy, Labrador Gold is actively pursuing a gold project with resource potential. Since launching this initiative, the Company has reviewed over 40 projects, with a particular focus on Canadian-based opportunities and continues to evaluate projects based on a combination of geological potential, jurisdictional stability, and alignment with the Company’s long-term growth strategy.

Figure 1. Gold and copper potential of the Thurber license, showing the 3km long Thurber Gold Trend.

Figure 2. Location of gold, nickel, copper, and zinc occurrences on the Hopedale Property.

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 contained in this release.

The Company gratefully acknowledges the Newfoundland and Labrador Ministry of Natural Resources’ 2023 Junior Exploration Assistance (JEA) Program and the Atlantic Canada Opportunities Agency’s Critical Minerals Assistance for its financial support for exploration of the Hopedale property.

About Labrador Gold

Labrador Gold is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada. The Company has approximately $18.1 million in cash.

The Hopedale property covers much of the Archean-age Florence Lake greenstone belt that stretches over 60 km. The belt is typical of greenstone belts around the world but has been underexplored by comparison. Work to date by Labrador Gold show gold anomalies in rocks, soils and lake sediments over a 3 kilometre section of the northern portion of the Florence Lake greenstone belt. Five gold occurrences lie along this trend, four of which Thurber Boundary, Thurber North, TD500 and Thurber South were discovered by LabGold. Anomalous gold in soil and lake sediment samples also occur over approximately 40 km along the southern section of the greenstone belt. LabGold’s recent exploration has also demonstrated the potential for the critical metals copper, nickel and cobalt in the belt.

The Borden Lake project near Chapleau, Ontario lies immediately southeast of Newmont Corporation’s Borden gold mine currently being acquired by Discovery Silver Corp. LabGold’s past exploration on the property identified two anomalous zones based on geochemistry, including up to 48 gold grains in till samples, and geophysics, one in the north extending over 1.3km northwest-southeast and another in the south extending over 1km north-south.

The Company has 170,009,979 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB.

For more information please contact:
Roger Moss, President and CEO        Tel: 416-704-8291

Or visit our website at: www.labradorgold.com
X   @LabGoldCorp

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements: This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6777a2d3-6401-492c-8dcb-6cd3b7cc2093

https://www.globenewswire.com/NewsRoom/AttachmentNg/da6e579a-719c-4780-8531-cd9bf5f11c47

Figure 1.

Gold and copper potential of the Thurber license, showing the 3km long Thurber Gold Trend.

Figure 2.

Location of gold, nickel, copper, and zinc occurrences on the Hopedale Property.