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Junior Mining Labrador Gold Precious Metals

Labrador Gold Intersects 20.88 G/T Au Over 5 Metres at Big Vein, Kingsway Project

Labrador Gold Corp.
Labrador Gold Corp.

Figure 1

Big Vein plan map.
Big Vein plan map.

TORONTO, Jan. 12, 2023 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce the latest results from recent drilling targeting the highly prospective Appleton Fault Zone over a 12km strike length. The drilling is part of the Company’s ongoing 100,000 metre diamond drilling program at its 100% owned Kingsway Project.

Highlights of the drilling include an intersection of 20.88 g/t Au over 5 metres that included 124.21g/t Au over 0.81 metres and 7.41 g/t Au over 1.0 metres in Hole K-22-206, and 6.04 g/t Au over 1.20 metres in Hole K-22-208. Both holes were drilled at the north end of Big Vein.

“We continue to follow up on the success of last year’s drilling at Big Vein with another high-grade intersection at the north end of the zone. Big Vein has now been drilled over a strike length of approximately 520 metres along the west side of the Appleton Fault Zone and remains open to the northeast and to the southwest,” said Roger Moss, President and CEO. “Drilling is ongoing at both ends of the zone to extend the strike length of the mineralization.”

Hole IDFrom (m)To (m)Interval (m)Au (g/t)Zone
K-22-208116.00118.002.001.07Big Vein


 176.58178.121.545.00
including176.58177.781.206.04
K-22-20624.0025.001.001.13Big Vein




 319.00320.001.007.41
 371.00376.005.0020.88
including374.56375.370.81124,213
K-22-204nsv   CSAMT
K-22-203nsv   Golden Glove

Table 1. Summary of assay results. All intersections are downhole length
as there is insufficient Information to calculate true width.

Big Vein plan map.
Big Vein plan map.

Figure 1. Big Vein plan map.

A total of 63,055 metres have been drilled to date out of the planned 100,000 metre program. Assays are pending for samples from approximately 2,700 metres of core.

The Company has $18 million in cash and is well funded to carry out the remaining 37,000 metres of the planned drill program as well as further exploration to add to the pipeline of drill targets on the property.

Hole IDEastingNorthingElevation (m)AzimuthDipTotal depth (m)
K-22-20866157154353665814550497
K-22-20666159354353315415560422.11
K-22-20466671354436985029555482
K-22-20366095854323724010845520.38

Table 2. Drill hole collar details

QA/QC

True widths of the reported intersections have yet to be calculated. Assays are uncut. Samples of HQ split core are securely stored prior to shipping to Eastern Analytical Laboratory in Springdale, Newfoundland for assay. Eastern Analytical is an ISO/IEC17025 accredited laboratory. Samples are routinely analyzed for gold by standard 30g fire assay with atomic absorption finish as well as by ICP-OES for an additional 34 elements. Samples containing visible gold are assayed by metallic screen/fire assay, as are any samples with fire assay results greater than 1g/t Au. The company submits blanks and certified reference standards at a rate of approximately 5% of the total samples in each batch.

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’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway 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.

Labrador Gold’s flagship property is the 100% owned Kingsway project in the Gander area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 12km of the Appleton Fault Zone which is associated with gold occurrences in the region, including those of New Found Gold immediately to the south of Kingsway. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water. LabGold is drilling a projected 100,000 metres targeting high-grade epizonal gold mineralization along the Appleton Fault Zone with encouraging results. The Company has approximately $18 million in working capital and is well funded to carry out the planned program.

The Hopedale property covers much of the 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 in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 km along the southern section of the greenstone belt (see news release dated January 25th 2018 for more details). Labrador Gold now controls approximately 40km strike length of the Florence Lake Greenstone Belt.

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

Twitter @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.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e5b4125c-f907-4ba5-a492-e2382e58b13a

Categories
Junior Mining Labrador Gold Precious Metals

Labrador Gold Reviews Successful Year of Discovery at Kingsway

Labrador Gold, Proven and Probable

TORONTO, Dec. 30, 2022 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to share a year end review of exploration at its 100% owned Kingsway Project. Exploration during 2022 was focussed on the prospective Appleton Fault Zone that trends over a 12km strike length at Kingsway.

Discovery highlights of 2022 exploration include:

  • Extended Big Vein discovery to over 520 metres NE-SW strike length; mineralization remains open in both directions
  • Both the highest-grade intersection of 284.1 g/t Au over 0.58 metres and the longest intersection of 2.02 g/t Au over 32 metres 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 metres 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 metres in 2022 after doubling the size of the planned drill program to 100,000 metres.

The company is fully funded for the remaining 37,496 metres of the planned 100,000 metre program with approximately $18 million in cash. Assays are pending for samples from 3,903 metres of core (10.3% of the total submitted).

“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 of Labrador Gold. “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.”

Figure 1. Kingsway gold occurrences showing highlights of 2022 drilling
https://www.globenewswire.com/NewsRoom/AttachmentNg/73b26bf4-ce4d-482c-8e30-47c1f500654c

QA/QC

True widths of the reported intersections have yet to be calculated. Assays are uncut. Samples of HQ split core are securely stored prior to shipping to Eastern Analytical Laboratory in Springdale, Newfoundland for assay. Eastern Analytical is an ISO/IEC17025 accredited laboratory. Samples are routinely analyzed for gold by standard 30g fire assay with atomic absorption finish as well as by ICP-OES for an additional 34 elements. Samples containing visible gold are assayed by metallic screen/fire assay, as are any samples with fire assay results greater than 1g/t Au. The company submits blanks and certified reference standards at a rate of approximately 5% of the total samples in each batch.

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’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway 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.

Labrador Gold’s flagship property is the 100% owned Kingsway project in the Gander area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 12km of the Appleton Fault Zone which is associated with gold occurrences in the region, including those of New Found Gold immediately to the south of Kingsway. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water. LabGold is drilling a projected 100,000 metres targeting high-grade epizonal gold mineralization along the Appleton Fault Zone with encouraging results. The Company has approximately $18 million in working capital and is well funded to carry out the planned program.

The Hopedale property covers much of the 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 in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 km along the southern section of the greenstone belt (see news release dated January 25th 2018 for more details). Labrador Gold now controls approximately 40km strike length of the Florence Lake Greenstone Belt.

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

Twitter: @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.

Categories
Junior Mining Labrador Gold Precious Metals

Labrador Gold Intersects 30.67 g/t Au over 1.1 Metres at North End of Big Vein

Labrador Gold Corp.
Labrador Gold Corp.

Figure 1.

Plan Map of Big Vein Target
Plan Map of Big Vein Target

Figure 2.

Big Vein Long Section
Big Vein Long Section

Figure 3.

Plan map of Kingsway Gold occurrences showing latest drill intersections.
Plan map of Kingsway Gold occurrences showing latest drill intersections.

TORONTO, Oct. 20, 2022 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce results from recent drilling targeting the prospective Appleton Fault Zone over a 12km strike length. The drilling is part of the Company’s ongoing 100,000 metre diamond drilling program at its 100% owned Kingsway Project.

https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1577000%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522Intersection_(road)%253BFault_(geology)%253BLabrador%253BMetre%253BNewfoundland_and_Labrador%253BGold%253BCompany%2522%252C%2522lmsid%2522%253A%2522a0770000002m0AbAAI%2522%252C%2522revsp%2522%253A%2522globenewswire.com%2522%252C%2522lpstaid%2522%253A%252286a5e179-5489-37b7-94fd-4248b510f16f%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

Highlights of the drilling include an intersection of 30.67 g/t Au over 1.1 metres from 208.85 metres that included 99.31 g/t Au over 0. 3 metres in Hole K-22-190 from the north end of Big Vein. The intersection is approximately 75 metres north of the discovery outcrop and is downdip of Hole K-22-177 that intersected the longest interval yet of 2.02g/t Au over 32m (see news release dated October 7, 2022). Also at Big Vein, Hole K-22-194 intersected 1.27 g/t Au over 6.17 metres from 115 metres that included 2.3 g/t Au over 3m. At Big Vein Southwest, Hole K-22-184 intersected 4.67 g/t over 1.64m from 336.25m that included 8.97 g/t over 0.75m.

“We continue to have drilling success at the north end of Big Vein where several significant intercepts have now been received, including 6.07 g/t Au over 19m in hole K-21-111 and 2.02 g/t over 32m in Hole K-22-177 and now 30.67g/t Au in Hole K-22-190,” said Roger Moss, President and CEO. “The down dip mineralization in K-22-190 shows the high-grade prospectivity of this area which we are currently following up. Big Vein has been drilled over a strike length of approximately 520 metres and remains open both to the northeast and southwest. Two drill rigs are currently drilling at Big Vein to test for extensions of the mineralization in both directions.”

Hole IDFrom (m)To (m)Interval (m)Au (g/t)Zone
K-22-194202111.05Big Vein






 242511.04
 115121.176.171.27
including11511832.30
 26526831.52
K-22-192nsv   Golden Glove
K-22-191nsv   CSAMT
K-22-19021.65220.351.00Big Vein












 12412511.15
 199.72000.32.31
 208.85209.951.130.67
including209.65209.950.399.31
 233.52351.51.10
 24824911.03
 310.453110.554.19
K-22-186nsv   CSAMT
K-22-184333338.595.591.47Big Vein SW


including336.25337.891.644.67
including336.253370.758.97

Table 1. Summary of assay results. All intersections are downhole length as there is insufficient Information to calculate true width.

A total of 58,265 metres have been drilled to date out of the planned 100,000 metre program. Assays are pending for samples from approximately 3,100 metres of core (11.5% of the total submitted).

The Company has $21 million in cash and is well funded to carry out the remaining 42,000 metres of the planned drill program as well as further target generation on the property.

Hole IDEastingNorthingElevation (m)AzimuthDipTotal Depth (m)
K-22-194661594543532745.714560704.0
K-22-192660700543200833.525045599.0
K-22-191666547.1544354346.83314045371.5
K-22-190661594543532745.714555668.2
K-22-186666538544353938.631065320.0
K-22-184661343.9543491644.48113045428.0

Table 2. Drill hole collar details

Figure 1. Plan Map of Big Vein Target.
https://www.globenewswire.com/NewsRoom/AttachmentNg/7412e031-b8c1-4ea8-aca7-6a2b5dc176b9

Figure 2. Big Vein Long Section.
https://www.globenewswire.com/NewsRoom/AttachmentNg/9a02780d-1ecb-41df-9aff-cf6b4c2075a6

Figure 3. Plan map of Kingsway Gold occurrences showing latest drill intersections.
https://www.globenewswire.com/NewsRoom/AttachmentNg/edc6fda6-b226-4f7f-b743-c2b47c938681

QA/QC

True widths of the reported intersections have yet to be calculated. Assays are uncut. Samples of HQ split core are securely stored prior to shipping to Eastern Analytical Laboratory in Springdale, Newfoundland for assay. Eastern Analytical is an ISO/IEC17025 accredited laboratory. Samples are routinely analyzed for gold by standard 30g fire assay with atomic absorption finish as well as by ICP-OES for an additional 34 elements. Samples containing visible gold are assayed by metallic screen/fire assay, as are any samples with fire assay results greater than 1g/t Au. The company submits blanks and certified reference standards at a rate of approximately 5% of the total samples in each batch.

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’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway 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.

Labrador Gold’s flagship property is the 100% owned Kingsway project in the Gander area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 12km of the Appleton Fault Zone which is associated with gold occurrences in the region, including those of New Found Gold immediately to the south of Kingsway. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water. LabGold is drilling a projected 100,000 metres targeting high-grade epizonal gold mineralization along the Appleton Fault Zone with encouraging results. The Company has approximately $21 million in working capital and is well funded to carry out the planned program.

The Hopedale property covers much of the 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 in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 km along the southern section of the greenstone belt (see news release dated January 25th 2018 for more details). Labrador Gold now controls approximately 40km strike length of the Florence Lake Greenstone Belt.

The Company has 169,189,979 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

Twitter @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.

Categories
Junior Mining Labrador Gold Precious Metals

Labrador Gold Announces 2.02 G/T Au Over 32 Metres at Big Vein the Longest Mineralized Intersection at Kingsway to Date

Labrador Gold Corp.
Labrador Gold Corp.

Figure 1.

Plan map of significant Big Vein intercepts.
Plan map of significant Big Vein intercepts.

Figure 2.

Long section of Big Vein/HTC Zone.
Long section of Big Vein/HTC Zone.

Figure 3.

Plan map of Kingsway Gold occurrences showing latest drill intersections.
Plan map of Kingsway Gold occurrences showing latest drill intersections.
  • Hole K-22-177 intersected 2.02 g/t Au over 32 metres including 18.08 g/t Au over 0.63 metres and 11.42 g/t Au over 1.05 metres.
  • Mineralization at Big Vein remains open along strike to the southwest and northeast.
  • Drilling also intersected high-grade mineralization at Big Vein southwest grading 12.84 g/t Au over 0.8 metres.
https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1577000%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522Metre%253BGold%2522%252C%2522lmsid%2522%253A%2522a0770000002m0AbAAI%2522%252C%2522revsp%2522%253A%2522globenewswire.com%2522%252C%2522lpstaid%2522%253A%25220cd2451e-b4ce-3a12-b41f-c1743ac34d4a%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

TORONTO, Sept. 08, 2022 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce results from recent drilling targeting the prospective Appleton Fault Zone over a 12km strike length. The drilling is part of the Company’s ongoing 100,000 metre diamond drilling program at its 100% owned Kingsway Project.

Highlights of the drilling include an intersection of 2.02 g/t Au over 32 metres from 134 metres that included 18.08 g/t Au over 0.63 metres and 11.42 g/t Au over 1.05 metres in Hole K-22-177 from the north end of Big Vein. The intersection is approximately 75 metres north of the discovery outcrop. In addition, Hole K-22-187 at Big Vein southwest intersected 12.84 g/t Au over 0.8 metres from 341 metres.

The last results from initial drilling at Midway showed an intersection of 5.69 g/t Au over 1.33 metres in Hole K-22-171. Further drilling is planned at Midway to test the continuity of gabbro-hosted mineralization along strike towards Cracker.

“Drilling at Big Vein continues to deliver excellent results with the longest mineralized intersection of 32 metres grading 2.02 g/t gold drilled on the property to date. We are currently testing this intersection down dip. The intersection is approximately 30 metres north of another long intercept of 6.07 g/t Au over 19m in hole K-21-111.” said Roger Moss, President and CEO. “Big Vein has now been drilled over a strike length of approximately 520 metres and remains open both to the northeast and southwest. Two rigs continue drilling at Big Vein to test for extensions of the mineralization in both directions.”

Hole IDFrom (m)To (m)Interval (m)Au (g/t)Zone
K-22-187157.80158.251.201.08Big Vein SW
 328.55328.850.303.27
 341.00341.800.8012.84
K-22-184140.26140.590.332.89Big Vein SW
 336.25337.891.642.69
K-22-180nsv   CSAMT
K-22-17972.0072.760.761.08Golden Glove
K-22-178nsv   Big Vein SW
K-22-1778.009.001.001.01Big Vein
 93.7494.550.811.11
 134.00166.0032.002.02
including142.77143.400.6318.08
and158.95160.001.0511.42
 212.00215.003.002.63
 245.00248.003.003.60
 265.00266.001.001.73
K-22-176nsv   Golden Glove
K-22-17563.0065.002.001.48Big Vein
 230.00232.002.002.87
K-22-174296.00297.491.493.65Big Vein SW
 407.00407.300.303.24
K-22-17311.0012.001.001.04Big Vein
 16.0017.001.001.38
 50.0051.001.002.23
K-22-172nsv   CSAMT
K-22-171194.50198.003.501.44Midway
 201.17202.501.335.69
K-22-17011.0012.001.001.10HTC
 35.0044.009.001.42
 218.00219.001.001.01
K-22-169nsv   Golden Glove
K-22-168165.91166.210.301.01Midway
 217.90218.400.501.82
K-22-16757.0062.005.001.90Big Vein
K-22-166nsv   Midway
K-22-165243.00244.001.001.05Golden Glove

Table 1. Summary of assay results. All intersections are downhole length
as there is insufficient Information to calculate true width.

A total of 52,648 metres have been drilled to date out of the planned 100,000 metre program. Assays are pending for samples from approximately 3,343 metres of core (11% of the total submitted).

Drilling at Kingsway continues with four drill rigs, two working at Big Vein, one at Golden Glove and one at the CSAMT target. Ongoing detailed till sampling and prospecting continues to generate new drill targets along the Appleton Fault Zone and the gabbro trend north and south of Midway. Drilling will begin on these targets once initial drilling at CSAMT is complete.

The Company has $23.6 million in cash and is well funded to carry out the remaining 47,000 metres of the planned drill program as well as further target generation on the property.

Hole IDEastingNorthingElevationAzimuthDipTotal depth
K-22-187661343.8543492644.15113050374
K-22-184661343.9543496.444.48113045428
K-22-180666592.3544360546.4214045278
K-22-179660543543177645.7932045401
K-22-178661343543492644.35214050404
K-22-177661594543532745.714550826
K-22-176660541543177645.85729045401
K-22-175661598543528751.68312057.5308
K-22-174661343.3543492644.28914045476
K-22-173661599.9543528751.0011205593
K-22-172666591.7544360646.4231045278
K-22-171661254.7543792478.34914045247
K-22-170661599.9543528651.09612045299
K-22-169660627.7543187944.5528055401.44
K-22-168661255.8543793777.43231045264.75
K-22-167661599.3543528651.3213055296
K-22-166661202.7543788077.47314045260
K-22-165660626543188144.59628045398

Table 2. Drill hole collar details

Figure 1. Plan map of significant Big Vein intercepts.
https://www.globenewswire.com/NewsRoom/AttachmentNg/c8630deb-d718-4e9f-bf3d-5431d3789e05

Figure 2. Long section of Big Vein/HTC Zone.
https://www.globenewswire.com/NewsRoom/AttachmentNg/74f1199d-6502-4981-bbfd-7719fb00b48d

Figure 3. Plan map of Kingsway Gold occurrences showing latest drill intersections.
https://www.globenewswire.com/NewsRoom/AttachmentNg/ea032cde-0026-4147-b1c6-b71481e1db5c

QA/QC

True widths of the reported intersections have yet to be calculated. Assays are uncut. Samples of HQ split core are securely stored prior to shipping to Eastern Analytical Laboratory in Springdale, Newfoundland for assay. Eastern Analytical is an ISO/IEC17025 accredited laboratory. Samples are routinely analyzed for gold by standard 30g fire assay with atomic absorption finish as well as by ICP-OES for an additional 34 elements. Samples containing visible gold are assayed by metallic screen/fire assay, as are any samples with fire assay results greater than 1g/t Au. The company submits blanks and certified reference standards at a rate of approximately 5% of the total samples in each batch.

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’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway 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.

Labrador Gold’s flagship property is the 100% owned Kingsway project in the Gander area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 12km of the Appleton Fault Zone which is associated with gold occurrences in the region, including those of New Found Gold immediately to the south of Kingsway. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water. LabGold is drilling a projected 100,000 metres targeting high-grade epizonal gold mineralization along the Appleton Fault Zone with encouraging results. The Company has approximately $23.6 million in working capital and is well funded to carry out the planned program.

The Hopedale property covers much of the 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 in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 km along the southern section of the greenstone belt (see news release dated January 25th 2018 for more details). Labrador Gold now controls approximately 40km strike length of the Florence Lake Greenstone Belt.

The Company has 169,189,979 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

Twitter: @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.

Categories
Junior Mining Labrador Gold Precious Metals

Labrador Gold Announces Assays Up to 479.5G/T Au in Surface Samples From Golden Glove

Labrador Gold Corp.
Labrador Gold Corp.

Figure 1.

Portion of Sample 853601 showing visible gold grains in quartz and country rock.
Portion of Sample 853601 showing visible gold grains in quartz and country rock.

Figure 2.

Location map of Kingsway gold occurrences showing recent results at Golden Glove.
Location map of Kingsway gold occurrences showing recent results at Golden Glove.

TORONTO, Aug. 23, 2022 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce assays from six samples containing visible gold recently collected during prospecting in the Golden Glove area at its 100% owned Kingsway Project. The samples were collected as part of the Company’s continuous efforts to generate and upgrade targets for drilling along the 12km strike length of the Appleton Fault Zone covered by the Kingsway Property.

The samples were taken from quartz veins believed to be splays off the original Golden Glove vein. Assays of the six samples ranged from 7.51 g/t to 479.51 g/t Au. The quartz veins are hosted by grey and black shales and are typically vuggy and locally stylolitic with iron carbonate alteration. The four highest grade samples contain visible gold, and all samples contain between 2 and 5% pyrite and arsenopyrite both in the vein and along the contact with the shale wallrock. These results are comparable to assays from the initial samples taken at Golden Glove that ranged from 2.99 to 338.08g/t Au (see news release dated September 21, 2021).

“The discovery of more veins containing high-grade gold at surface is encouraging as it gives us additional information on the structural context of the mineralization at Golden Glove and will allow more efficient drill targeting.” said Roger Moss, President and CEO. “Drilling to date has been following up recent high-grade intersections of 20.07 g/t Au over 1m in Hole K-22-154 and 6.22 g/t Au over 4m in hole K-22-150 located approximately 160m south of the discovery outcrop. Given the high-grade nature of these veins we will certainly look to specifically target them in our ongoing drilling at Golden Glove.”

Sample
ID		Sample
type		Rock TypeAu (g/t)
853601*GrabQuartz Vein479.51
853602*GrabQuartz Vein81.49
853603*GrabQuartz Vein114.72
853604*GrabQuartz Vein34.90
853605GrabQuartz Vein7.51
853606GrabQuartz Vein12.25

* Sample contains visible gold. Note that grab samples are select samples and
are not necessarily representative of gold mineralization found on the property.

Figure 1. Portion of Sample 853601 showing visible gold grains in quartz and country rock.
https://www.globenewswire.com/NewsRoom/AttachmentNg/535e38c4-278d-4f70-8798-e2338a3eae1a

Figure 2. Location map of Kingsway gold occurrences showing recent results at Golden Glove.
https://www.globenewswire.com/NewsRoom/AttachmentNg/fea783dc-89b0-40f2-9eb0-46afd5858897

QA/QC

All samples are securely stored prior to shipping to Eastern Analytical Laboratory in Springdale, Newfoundland for assay. Eastern Analytical is an ISO/IEC17025 accredited laboratory. Samples were assayed by metallic screen/fire assay. The whole sample is crushed to -10mesh and pulverized to 95% -150mesh. The total sample is then weighed and screened through 150mesh. Both the +150mesh fraction and a 30g subsample of the -150mesh fraction are fire assayed for Au and a calculated weighted average of total Au in the sample is reported. The company routinely submits blanks and certified reference standards at a rate of approximately 5% of the total samples in each batch.

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’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway 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.

Labrador Gold’s flagship property is the 100% owned Kingsway project in the Gander area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 12km of the Appleton Fault Zone which is associated with gold occurrences in the region, including those of New Found Gold immediately to the south of Kingsway. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water. LabGold is drilling a projected 100,000 metres targeting high-grade epizonal gold mineralization along the Appleton Fault Zone with encouraging results. The Company has approximately $25 million in working capital and is well funded to carry out the planned program.

The Hopedale property covers much of the 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 in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 km along the southern section of the greenstone belt (see news release dated January 25th 2018 for more details). Labrador Gold now controls approximately 40km strike length of the Florence Lake Greenstone Belt.

The Company has 169,189,979 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB and on the OTCQX under the symbol NKOSF.

For more information please contact:     

Roger Moss, President and CEO      Tel: 416-704-8291

Or visit our website at: www.labradorgold.com

Twitter: @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.

Categories
Exclusive Interviews Junior Mining Labrador Gold Precious Metals

(VIDEO) Labrador Gold – Announces 284.1 G/T Gold from Big Vein

Joining us for a conversation is Dr. Roger Moss the CEO as Labrador Gold has just announced its highest-grade mineralization coming from the Big Vein along with updates on the Golden Glove and Midway Targets on the 100% owned Kingsway Project.

Labrador Gold is a Canadian-based mineral exploration (junior mining) company focused on the acquisition and exploration of prospective gold projects in Eastern Canada. The Company is advancing the Kingsway Gold Project, located in the Gander Gold District of Newfoundland. The project is strategically located contiguous to New Found Gold’s Queensway Project and lies along strike to the northeast of their recent discovery of 92.86g/t Au over 19.0 meters.

Key Shareholders: Eric Sprott, Quinton Hennigh, Crescat Capital, Palisaides Goldcorp, & New Found Gold.

Labrador Gold: https://labradorgold.com/
Ticker: TSX.V: LAB | OTCQX: NKOSF
Corporate Presentation: https://labradorgold.com/investors/presentations/
Telephone: (416) 704-8291
Email: info@labradorgold.com

Labrador Gold is partner/sponsor and we are shareholders.

Categories
Junior Mining Labrador Gold Precious Metals

Labrador Gold Raises $3.88 Million From Exercise of Share Purchase Warrants

Labrador Gold, Proven and Probable

TORONTO, June 29, 2022 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce that it has raised $3,885,285.90 from the recent exercise of share purchase warrants (the “warrants”) with a strike price of $0.175 and $0.30. The warrant exercise increases the Company’s cash position to $26.5 million. Management and directors of Labrador Gold were among those exercising warrants.

“The funds brought in by the exercise of the warrants adds to an already robust treasury and allows us to continue our ongoing exploration of the 12km strike length of the Appleton Fault Zone at our 100% owned Kingsway Project,” said Roger Moss, President and CEO. “The hard work of the LabGold team over the past two years has resulted in the generation and successful drilling of four out of four gold targets. This demonstrates both the ability of our people on the ground as well as the prospectivity of the Kingsway project, and the Appleton Fault Zone in particular. We look forward to another exciting summer of discovery as we prove up more targets in the pipeline and get them ready for drilling.”

Exploration Update

Drilling continues at Kingsway with four drill rigs. Two rigs are working at Big Vein, one testing the down plunge extension of the high-grade HTC Zone below 250m, and the other testing the southwest extension of the Big Vein Zone. A third rig continues to test the Golden Glove target while the fourth rig tests the CSAMT target approximately eight kilometres northeast of Big Vein. The CSAMT target was generated from geophysical (controlled source audio magnetotellurics, magnetics and VLF-EM) and geochemical (gold in soil, rock and till) anomalies and is in an area of structural complexity. Both the Golden Glove and CSAMT targets occur on the east side of the Appleton Fault Zone. Approximately 44% of the 100,000 metre planned program has been completed to date.

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’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway 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.

In early 2020, Labrador Gold acquired the option to earn a 100% interest in the Kingsway project in the Gander area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 12km of the Appleton Fault Zone which is associated with gold occurrences in the region, including those of New Found Gold immediately to the south of Kingsway. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water. LabGold is drilling a projected 50,000 metres targeting high-grade epizonal gold mineralization along the Appleton Fault Zone following encouraging early results. The Company has approximately $26.5 million in working capital and is well funded to carry out the planned program.

The Hopedale property covers much of the Florence Lake greenstone belts 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 in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 km along the southern section of the greenstone belt (see news release dated January 25th 2018 for more details). Labrador Gold now controls approximately 40km strike length of the Florence Lake Greenstone Belt.

The Company has 168,889,979 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

Twitter @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.

Categories
Junior Mining Labrador Gold Precious Metals

Labrador Gold | OTCQX Best 50 Virtual Investor Conference: Company Executives Present June 16th

Labrador Gold, Proven and Probable

NEW YORK, June 10, 2022 (GLOBE NEWSWIRE) — Virtual Investor Conferences, the leading proprietary investor conference series, today announced the agenda for the upcoming OTCQX Best 50 Companies Virtual Investor Conference to be held on June 16 th . Individual investors, institutional investors, advisors, and analysts are invited to attend. The program begins at 9:30 AM ET on Thursday, June 16th.

REGISTER NOW AT: https://bit.ly/3ztPQjz

It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates. There is no cost to log-in, attend live presentations and schedule 1×1 meetings.

“We are delighted to welcome ten of our OTCQX Best 50 companies participating in our upcoming Virtual Investor Conference,” said Jason Paltrowitz, OTC Markets Group EVP of Corporate Services. “We are proud to highlight the impressive efforts of these companies which span a range of industries including Technology, Metals & Mining, Industrial Goods, Financials and more.”

June 16 th Agenda:

Eastern
Time (ET)		PresentationTicker(s)
9:30 AMGlobal Atomic Corp.OTCQX: GLATF | TSX: GLO
10:00 AMIsoEnergy Ltd.OTCQX: ISENF | TSXV: ISO
10:30 AMInPlay Oil Corp.OTCQX: IPOOF | TSX: IPO
11:00 AMTAAL Distributed Information Technologies Inc.OTCQX: TAALF | CSE: TAAL
11:30 AMLabrador Gold Corp.OTCQX: NKOSF | TSXV: LAB
12:00 PMDeep Yellow Ltd.OTCQX: DYLLF | ASX: DYL
1:00 PMNanalysis Scientific Corp.OTCQX: NSCIF | TSXV: NSCI
1:30 PMGrayscale Investments LLCOTCQX: GBTC
TBDNovonix Ltd.OTCQX: NVNXF | ASX: NVX
TBDThunderbird Entertainment Group Inc.OTCQX: THBRF | TSXV: TBRD

To facilitate investor relations scheduling and to view a complete calendar of Virtual Investor Conferences, please visit www.virtualinvestorconferences.com .

About Virtual Investor Conferences ®

Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.

Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.

Media Contact:
OTC Markets Group Inc. +1 (212) 896-4428, media@otcmarkets.com

Virtual Investor Conferences Contact:
John M. Viglotti
SVP Corporate Services, Investor Access
OTC Markets Group
(212) 220-2221
johnv@otcmarkets.com

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Categories
Junior Mining Labrador Gold Precious Metals Uncategorized

Labrador Gold Intersects 6.22 G/T Gold Over 4 Metres in First Hole at Golden Glove Including 10.31 G/T Over 2 Metres

Labrador Gold Corp.
Labrador Gold Corp.

Figure 1.

Doyle Zone plan map.
Doyle Zone plan map.

TORONTO, June 07, 2022 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce results from seven drill holes, including the first hole drilled at the Golden Glove Target in the south end of its 100% owned Kingsway project near Gander, Newfoundland. These holes were drilled as part of the Company’s ongoing 100,000 metre drill program at Kingsway.

Hole K-22-150 intersected 6.22 g/t Au over 4 metres that included 10.31 g/t Au over 2m at a vertical depth of 246 metres. This intersection is located approximately 160 m south of the Golden Glove discovery outcrop where six grab samples, three of which contained visible gold, assayed between 2.99 g/t and 338.1 g/t Au (see news release dated September 21, 2021). This intersection at Golden Glove is the fourth of four targets drilled by LabGold to return significant gold intercepts.

While there are many similarities between the mineralization observed at Golden Glove and that at Big Vein, a significant difference is that while Big Vein occurs on the west side of the Appleton Fault Zone, Golden Glove is situated on the East Side. This is the first drilling on the east side of the fault at the Kingsway Property.https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1577000%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522Labrador%253BFault_(geology)%253BGold%2522%252C%2522lmsid%2522%253A%2522a0770000002m0AbAAI%2522%252C%2522revsp%2522%253A%2522globenewswire.com%2522%252C%2522lpstaid%2522%253A%252256728853-316a-31bc-a98d-be02627be93e%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

Six holes drilled at the Pristine target intersected near surface gold mineralization over significant widths in the Doyle Zone, including 1.86 g/t Au over 8m in hole K-22-144 and 1.75 g/t over 20.2m that included 2.76 g/t Au over 6.2m in Hole K-22-139.

“We are very pleased with the results from the first hole drilled at Golden Glove especially considering that the intersection is approximately 160m south of the discovery outcrop. This indicates excellent potential for the area between this hole and the outcrop and we are certainly looking forward to the results from the remaining five holes drilled there to date,” said Roger Moss, President and CEO of LabGold. “The continued near surface gold intercepts extending the strike length of the Doyle Zone are nice to see especially those with wider intersections. We are encouraged by the successful drilling of our four initial targets, all of which have delivered significant gold mineralization. We will continue to test the new targets developed along the Appleton Fault Zone through the summer, starting with the CSAMT target approximately eight kilometres northeast of Big Vein.”

Hole IDFrom (m)To (m)Interval (m)Au (g/t)Zone
K-22-1526670.244.241.78Doyle
 879032.24
 939631.17
K-22-15034835246.22Golden Glove
including348350210.31
K-22-149131411.27Doyle
K-22-1465757.950.951.12Doyle
K-22-144647281.86Doyle
including697123.32
K-22-14392.2930.81.42Doyle
K-22-13957.277.420.21.75Doyle
including62.268.46.22.76
 89.492.431.59

Table 1. Summary of Assay Results. All intersections are downhole length
as there is insufficient Information to calculate true width.

Hole numberEastingNorthingElevationAzimuthDipDepth
K-22-15266180454360205430050221
K-22-15066053954317764826545452.57
K-22-14966180454360216226045227
K-22-14666180354360326426062176
K-22-14466180854360706528045200.27
K-22-14366180154360345426045299.06
K-22-13966180254360335430045215

Table 2. Drill hole collar details

Figure 1. Doyle Zone plan map.

https://www.globenewswire.com/NewsRoom/AttachmentNg/5909d35d-b977-40ba-81da-f664988cc5e1

QA/QC

True widths of the reported intersections have yet to be calculated. Assays are uncut. Samples of HQ split core are securely stored prior to shipping to Eastern Analytical Laboratory in Springdale, Newfoundland for assay. Eastern Analytical is an ISO/IEC17025 accredited laboratory. Samples are routinely analyzed for gold by standard 30g fire assay with atomic absorption finish as well as by ICP-OES for an additional 34 elements. Samples containing visible gold are assayed by metallic screen/fire assay, as are any samples with fire assay results greater than 1g/t Au. The company submits blanks and certified reference standards at a rate of approximately 5% of the total samples in each batch.

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’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway 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.

In early 2020, Labrador Gold acquired the option to earn a 100% interest in the Kingsway project in the Gander area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 12km of the Appleton Fault Zone which is associated with gold occurrences in the region, including those of New Found Gold immediately to the south of Kingsway. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water. LabGold is drilling a projected 50,000 metres targeting high-grade epizonal gold mineralization along the Appleton Fault Zone following encouraging early results. The Company has approximately $28 million in working capital and is well funded to carry out the planned program.

The Hopedale property covers much of the Florence Lake greenstone belts 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 in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 km along the southern section of the greenstone belt (see news release dated January 25th 2018 for more details). Labrador Gold now controls approximately 40km strike length of the Florence Lake Greenstone Belt.

The Company has 159,199,026 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 CEOTel: 416-704-8291

Or visit our website at: www.labradorgold.com

Twitter: @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.

Categories
Junior Mining Labrador Gold

Labrador Gold Announces Early Exercise of Option to Earn 100% of the Kingsway Property

Labrador Gold Corp.

TORONTO, May 16, 2022 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V : LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce that it has exercised its option two years early to earn 100% of the three licenses comprising the Kingsway project near Gander, Newfoundland. The Kingsway project is located in the highly prospective central Newfoundland gold belt.

The Kingsway Property is composed of three licenses 027636M and 027637M which were optioned in March 2020 and 023940M optioned in July 2020. Together these three licenses cover approximately 12km of the Appleton Fault Zone along which prospecting and drilling over the past two years by LabGold and New Found Gold has resulted in the discovery of numerous near-surface high grade gold occurrences. Given the prolific nature of this fault zone and the continued success of the Company’s exploration on the property, the Board agreed to accelerate the option payments to acquire the 100% interest.

“It is clear to us that the Kingsway Property will need sustained exploration over the long term to fully understand its potential. The success we have had in just a year and half spent working in the field speaks to the prospectivity of the Appleton Fault Zone and the remainder of the property in general,” said Roger Moss, President and CEO of Labrador Gold. “Acquiring the 100% interest in the property two years earlier than required shows the confidence we have that there is more to come from Kingsway, and we are excited to continue exploring the entire 12km strike length of the Appleton Fault Zone.”

The Company now owns a 100% undivided interest in license 023940M.
The Company also owns a 100% undivided interest in licenses 027636M and 027637M subject to:
A 1.0% Net Smelter Returns royalty plus $1 per ounce of gold in the measured and indicated mineral resource categories established in a National Instrument 43-101 technical report for the development of the Property.
Expenditure target payments of $750,000 for each $10 million in exploration expenditures up to $30 million.

Upcoming Webinar

Labrador Gold is also pleased to announce that President and CEO, Roger Moss, will be providing the latest update from the Kingsway project in a live webinar taking place on Monday, May 16th at 1:00PM PT/ 4:00PM ET. To register for the event please click the link below.

Registration: https://event.webinarjam.com/channel/LabGold

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’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway 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.

Labrador Gold owns a 100% undivided interest in the Kingsway project in the Gander area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 12km of the Appleton Fault Zone which is associated with gold occurrences in the region, including those of New Found Gold immediately to the south of Kingsway. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water. LabGold is drilling a projected 100,000 metres targeting high-grade epizonal gold mineralization along the Appleton Fault Zone following encouraging results including the discovery of near surface gold mineralization at three of three targets drilled to date. The Company has approximately $25 million in working capital and is well funded to carry out the planned program.

The Hopedale property covers much of the Florence Lake greenstone belts 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 in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 km along the southern section of the greenstone belt (see news release dated January 25th 2018 for more details). Labrador Gold now controls approximately 40km strike length of the Florence Lake Greenstone Belt.

The Company has 156,740,526 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

Twitter @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.