TORONTO, June 09, 2026 (GLOBE NEWSWIRE) -- Labrador Gold Corp. (TSX.V: LAB | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce that it has received the Class 1 permit for its proposed exploration for the Mariposa and Eureka Dome projects and that all contractors required to carry out the field program have been lined up. In addition, the TSX Venture Exchange has conditionally approved the Option Agreement dated May 8, 2026 with Pacific Ridge Exploration Limited (see the Company’s News Release dated May 11, 2026), but closing remains subject to final approval of the TSX Venture Exchange.
The receipt of the Class 1 permit enables LabGold to start scheduling the summer field program at Mariposa as the Yukon field season gets underway. The Company’s plan for the season includes:
1) 808-line kilometres of high resolution airborne magnetic and radiometric surveying across the south of the property. Results will be merged with existing high-resolution coverage over the north of the property. Interpretation of the magnetic and radiometric data will provide key structural information and, when combined with soil geochemistry, is expected to highlight specific targets for follow up drilling in 2027. Precision Geosurveys Inc. of Langley, BC has been contracted to carry out the survey which should begin before month end.
2) LiDAR surveying across the entire 156 square kilometre property collected at 10 points/square metre with 10 cm orthorectified imagery. The LiDAR data will significantly aid in mapping subtle geological structures which may be tied to bedrock gold mineralization. The survey will also identify areas of potential outcrop for follow-up prospecting and mapping this summer. LiDAR Services International of Calgary, AB has been contracted to carry out the survey.
3) Grid soil sampling in the Alberta Creek – Hackly Gold area (~4,700 samples) and ridge and spur sampling mainly in the southern part of the property (~1000 samples). Grid sampling will complete coverage at Alberta Creek and extend across to link up with sampling in the Hackly Gold area. The ridge and spur sampling is a reconnaissance survey targeting areas of the property that have not yet been covered.
4) Ridge and Spur sampling at the Eureka Dome property to test the southern portion of the property which has not yet been examined
Osprey Long Range Inc. of Dawson City, YT has been contracted to carry out the soil surveys which should be completed by early September.
Roger Moss, President and CEO of LabGold, states “We are excited to get to work on our newly acquired projects that have sat idle for some time. Our 2026 program follows LabGold’s systematic exploration strategy that led to the previous gold discoveries at the Hopedale and Kingsway projects both of which had only one or two gold occurrences when we began exploration there. Given the known mineralization at Mariposa, and the endowment of the White Gold District, I have no doubt that we will have similar success here. We continue to compile and reinterpret the significant amount of historical data which will provide further guides to work going forward.”
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 and inferred resources of 1.27 Moz Gold (1)) and 30 kilometres east-northeast of Fuerte's Coffee gold project (Measured and Indicated resources of 2.96 Moz and Inferred resources of 0.8 Moz (2)).
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. |
Additionally, LabGold announces the transition of Ryan Weston from the role of Vice President Exploration to Technical Advisor. Roger Moss, President and CEO, states: “While we'll miss Ryan in his role as VP Exploration, I'm pleased he'll remain involved with LabGold as a Technical Advisor. I look forward to continuing our work together on our recently acquired Yukon projects as well as the Watson Project in the Fort Hope Greenstone Belt”.
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.
About Labrador Gold
LabGold is a Canadian-based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Canada.
The Watson Project, a joint venture with Nemo Resources Inc., represents the largest landholding in the Fort Hope Greenstone Belt which is significantly underexplored compared to other greenstone belts (e.g. Red Lake and Pickle Lake) in northwestern Ontario. While the exploration focus will be on gold, the Watson project also hosts significant potential for critical minerals (e.g. antimony, nickel, copper and zinc). The proposed road to the Ring of Fire, expected to begin construction in mid-2026, runs through the Watson property and, once complete, will significantly reduce exploration and development costs.
The Hopedale property covers much of the Archean-age Florence Lake greenstone belt, which extends over 60 kilometers. While typical of greenstone belts globally, the area has been underexplored. LabGold’s work to date has identified gold anomalies in rocks, soils, and lake sediments across a three-kilometer section of the northern portion of the belt. Five gold occurrences lie along this trend, four of which were discovered by LabGold. Additional anomalous gold values occur across approximately 40 kilometers of the southern portion of the belt. Recent exploration has also demonstrated potential for copper, nickel, and cobalt.
The Borden Lake project near Chapleau, Ontario lies immediately southeast of Discovery Silver Corp’s Borden gold mine. Past exploration by LabGold identified two anomalous gold zones based on geochemistry and geophysics.
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.
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