Labrador GOLD Further Confirms High-Grade GOLD Target at Kingsway
NEWS RELEASE
January 21, 2021
LABRADOR GOLD FURTHER CONFIRMS HIGH-GRADE GOLD TARGET AT KINGSWAY
Highlights
• New rock chip assays including 184.68 g/t Au, 65.9 g/t and 38.5 g/t Au confirm strong high-grade
epizonal orogenic gold target at the Big Vein prospect.
• Numerous +1g/t Au assays now define at least a 100m strike length along the NE-trending Big Vein
and associated splay structure.
• Quartz vein now defined over a strike length of 400m within a larger corridor of intermittently
exposed quartz veining extending over 7.5km strike northeast to southwest
TORONTO, ON, January 21, 2021 – Labrador Gold Corp. ( TSX.V:LAB | OTC QX:NKOSF | FNR: 2N6 ) (“LabGold” or
the “Company”) is pleased to announce the latest high-grade assay results from samples collected near the area
of visible gold at the Big Vein target, part of its 100% controlled Kingsway Project near Gander, Newfoundland.
The Kingsway project is located within the highly prospective Gander Gold District.
Assays from 134 new grab samples taken over a 250-metre strike length of quartz vein (“Big Vein”) southwest of
the previously announced visible gold samples (see news release dated November 9, 2020) range from below
detection (<5ppb) to 184.7g/t Au in sample 526169 which contained visible gold . Samples 526170, 526171 and
526172 also contained visible gold. Significant ( +1g/t Au) assays in the vicinity of the initial visible gold samples
have now been reported from samples up to 29 metres north and 70 metres to the southwest. Highlights of the
results are given below.
Sample # Sample Type Sample Type Rock Type Au (g/t)
526169 Float Grab* Quartz vein with visible gold 184.68
526171 Float Grab Quartz vein with visible gold 65.94
526138 Float Grab Quartz vein with py 38.47
526136 Subcrop Grab Quartz vein with py and cpy 8.50
526125 Outcrop Grab Quartz vein with py 5.26
526128 Outcrop Grab Quartz vein with py and cpy 3.64
526172 Float Grab Quartz vein with visible gold 3.43
526170 Float Grab Quartz vein with visible gold 1.87
526135 Subcrop Grab Quartz vein with py and cpy 1.60
526471 Subcrop Grab Quartz vein 1.32
526139 Float Grab Quartz vein with py 1.13
*Note that grab samples are select samples and are not necessarily representative
of gold mineralization found on the property.
Prospecting and mapping have shown that Big Vein strikes northeast-southwest over a distance of 400 metres.
The vein lies within a larger corridor of intermittently exposed quartz veining over a strike length of 7. 5km.
Mapping indicates that quartz veining within the corridor is hosted by dark grey-black shales of the Davidsville
Group, a stratigraphic horizon which hosts several gold occurrences in central Newfoundland. Assays are still
pending for many rock samples from the greater quartz vein corridor.
Map of Big Vein showing location of rock samples and visible gold occurrences.
“These new assay results confirm we have a robust high -grade gold target at Big Vein ,” said Roger Moss,
President and CEO of Labrador Gold. “ Significant assays in rock samples now outline at least 100m strike along
Big Vein, with some high-grade samples displaying visible gold mineralization similar to that seen at New Found
Gold’s Queensway project along strike to the southwest. Big Vein is sha ping up to be a high priority target for
our upcoming drill program.”
Samples were shipped to Eastern Analytical Laboratory in Springdale, Newfoundland for assay. Eastern
Analytical is an ISO/IEC17025 accredited laboratory. Samples were analyzed for gold by whole sample metallic
screen/fire assay or by standard 30g fire assay with ICP (inductively coupled plasma) finish. The company
submits blanks, field duplicates and certified reference standards at a rate of approximately 5% of the total
samples in each batch.
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 March 2020, Labrador Gold acquired the option to earn a 100% interest in the Kingsway project in the
Gander area of Newfoundland. The property is along strike to the northeast of New Found Gold’s discovery of
92.86 g/t Au over 19.0 metres on their Queensway property. (Note that mineralization hosted on adjacent or
nearby properties is not necessarily indicative of mineralization hosted on the Company’s property). In early July
2020, the Company signed an option agreement to acquire a third license to add to the property package which
now covers approximately 77 km 2. 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.
The Hopedale gold proper ty 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. Initial work by
Labrador Gold has identified a 3 kilometre mineralized section of the northern portion of the belt in the vicinity
of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold.
The Ashuanipi gold project is located just 35 km from the historical iron ore mining community of Schefferville,
which is linked by rail to the port of Sept Iles, Quebec in the south. The claim blocks cover large lake sediment
gold anomalies that, with the exception of local prospecting, have not seen a systematic modern day exploration
program. Results of the exploration to date show gold anomalies in soils and lake sediments over a 15 kilometre
long by 2 to 6 kilometre wide north-south trend and over a 14 kilometre long by 2 to 4 kilometre wide east-west
trend.
The Company has 110,687,104 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
@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 unce rtainties, 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.