Kingsway Project

• Targeting high-grade gold mine along a 12km strike length of the Appleton Fault Zone
• Fully funded 100,000 metre drilling program
• Seven gold occurrences identified and successfully drilled over the past 3 years
• A growing pipeline of targets for next exploration phase

The Kingsway property consists of 264 claims in three licenses covering approximately 77 square kilometres. The project is located approximately 18km northwest of the town of Gander, Newfoundland.

Infrastructure is excellent with road access to the project off the Trans Canada Highway, nearby railroad and power and plentiful water.

Exploration at Kingsway is targeting epizonal gold deposits associated with regional scale structures in Ordovician sedimentary rocks of the Davidsville Group. Previous work suggests that gold mineralization is associated with regional structures, particularly where second order cross structures occur.

Gold mineralization is found in quartz veins hosted by shales of the Davidsville Group. This style of mineralization was discovered by Labrador Gold during the 2020 exploration program. The Big Vein occurrence shows typically bright white, massive to vuggy, locally stylolitic quartz veining with carbonate and sericite alteration. Vugs often contain euhedral quartz infilling. Fine grained visible gold has been observed in annealed quartz and vuggy gray quartz in quartz vein float (see Figure 1) and in drill core. The features of the quartz vein and the visible gold are characteristic of epizonal gold deposits.

Labrador Gold’s comprehensive exploration program on the Kingsway project led to the discovery of visible gold in quartz vein (Big Vein) in late 2020. The gold mineralization shows features characteristic of epizonal gold type deposits and Big Vein was traced over a strike length of 720 metres. Big Vein lies within a larger corridor of intermittent quartz veining (quartz vein corridor) over a northeast-southwest trending strike length of over 12 kilometres adjacent to the Appleton Fault Zone. Highlight drill intercepts from the ongoing campaign include:

• 44.08g/t Au over 4.28m
• 284.1 g/t Au over 0.58m
• 20.88 g/t Au over 5m
• 6.08 g/t Au over 19m
• 128.51 g/t Au over 1.12m
• 50.52 g/t Au over 2m
• 276.56 g/t Au over 0.5m