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 ...