Labrador Gold Announces Non-Brokered Private Placement of Up to $4 Million and Appointment of Raymond D. Harari as President and Director

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TORONTO, Sept. 17, 2026 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V: LAB | FNR: 2N6) ( “LabGold” or the “Company” ) is pleased to announce its intention to complete a non-brokered private placement (the “Offering” ) for aggregate gross proceeds of a minimum of $2,000,000 and a maximum of $4,000,000. In connection with the Offering, the Company also intends to appoint Raymond D. Harari as President and a director of the Company and to enter into an investor rights agreement with the lead investors, in each case as described below and effective at the closing of the Offering.

The Offering will consist of: (i) common shares of the Company issued on a non-flow-through basis (the “HD Shares” ); and (ii) common shares of the Company that will qualify as “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act” ) (the “FT Shares” and, together with the HD Shares, the “Shares” ), each at a price of $0.05 per Share, for the issuance of between 40,000,000 and 80,000,000 Shares.

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The Offering is being led by Matachewan Consolidated Mines, Limited (TSX.V: MCM-A) ( “Matachewan” ) and McChip Resources Inc. (TSX.V: MCS) ( “McChip” and, together with Matachewan, the “Lead Investors” ), which intend to subscribe for $2,133,790.45 of FT Shares, representing 42,675,809 FT Shares. In connection with the initial closing of the Offering, the Company and the Lead Investors intend to enter into a customary investor rights agreement providing the Lead Investors with the right to nominate two directors to the Board of Directors of the Company along with certain information, participation and top-up rights for so long as the Lead Investors and their permitted transferees collectively hold at least 10% of the issued and outstanding common shares of the Company. The participation and top-up rights are intended to permit the Lead Investors, subject to customary exclusions, applicable law, TSXV acceptance and a maximum ownership level of 19.99% unless any required shareholder approval is obtained, to maintain their collective pro rata ownership percentage in connection with subsequent issuances of securities by the Company. The Shares acquired by the Lead Investors under the Offering will also be subject to a one-year contractual lock-up, subject to customary exceptions. The Lead Investors will also vote the common shares of the Company held by them in favour of the existing board of directors, and the Lead Investors’ nominees, at the next annual meeting. In addition, for a period of two years, they will vote in favour of the election of Roger Moss and Leo Karabelas as directors of the Company.

In connection with, and effective upon, the closing of the Offering, the Company intends to appoint Raymond D. Harari as President and a director of the Company. Mr. Harari will be the Lead Investors’ initial nominee to the board of directors under the investor rights agreement.